LG's Marketing Strategy in India
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Case Details:
Case Code : MKTG054
Case Length : 12 Pages
Period : 1997-2003
Pub Date : 2003
Teaching Note :Not Available
Organization : LG Electronics India
Industry : Consumer Electronics
Countries : India
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts
Product Innovation
LG believed in holding the interest of its customers by bringing out new products regularly. In its first year of operations, it launched 70 models across a range of products.
In 2001, it launched 45 new models across its entire product range and in 2002 it launched 60 new models (Refer Exhibit III for LG's product range).
LG customized product for Indian markets.
Before developing products, LG conducted market research to ensure that its products met local requirements...
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Distribution
Soon after its entry into India, LG realized that it needed to be innovative to capture the market. LG expanded throughout the country to far-flung towns and semi-urban markets. It sent vans across the country, covering a distance of 5000 km every month, to increase brand awareness among the trade and the customers...
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Price
Initially, when LG entered the Indian market, its products were priced high. This was because LG had to import products in the absence of a manufacturing facility in India.
Thus, its products were priced as high as Japanese products. According to some analysts, this strategy was adopted to make local consumers feel that LG products were by no means inferior to Japanese products in performance or in quality. However, in 1998, LG launched 'Sampoorna,' a low priced TV aimed at rural consumers...
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