DISSERTATION REPORT ON MARKETING STRATEGY OF LG REGARDING SALES OF LCD

Submitted in partial fulfillment of the requirement of the degrees of MASTERS OF BUSINESS ADMINISTRATION Affiliated to H.N.B Garhwal University,Srinagar Submitted by-

REMARKS

APPROVED DISAPPROVED

APPROVED DISAPPROVED

DEPARTMENT OF MANAGEMENT UTTARANCHAL INSTITUTE OF MANAGEMENT

CONTENT
Title Training Letter Acknowledgement Candidates Decleration Prelude Objective of the study Companys

DESCRIPTION Profile. Introduction Services Norms Practices in HR development HR practices

Topic Undertaken. Trade Union An introduction Definitions Objectives & Functions & Role of Trade Union Trade Union in Indian Context Trade Union in MD INDIA

Research Methodology.. Research Problem Introduction Methods of data collection Data analysis Graphical representation of the survey

Suggestions. Annexure. Conclusion.. Bibliography

ACKONWLEDGEMENT

Words often fail to express ones inner feelings of gratitude and indebtedness to ones benefactors, but then it is the only readily available medium through which the undersigned can express their sincere thanks to all those who are associated with the work in one way or the other. A project can never exist and thrive in solitude. Project work is never the work of an individual. It is more a combination of use, suggestions and contributions and work involving many individuals. This project also bears the impact of many people. Thus one of the most pleasant parts of writing this report is the opportunity to thank all those who have contributed towards it.

The project as it stands today is the sincere contributions of a few spirited individuals and the help of some of my friends. I take this opportunity to express my sincere gratitude to respected Sh. Brij Sharma, Sr. Manager (HR) who provided me the opportunity to work on this project.

I would also like to extend my sincere gratitude to Ms. Shefali Negi who cooperated with me, at all level during my assigned project.

I also show my indebtedness to my institute, Institute of Technology & Management, Dehradun, to give such an opportunity to take up this project and my parents, teachers and friends for their unconditional support.

NEERAJ TYAGI BBA V SEM (HR)

CANDIDATES DECLARATION

I hereby declared that the work for the project Report entitled ROLE & FUNCTION OF TRADE UNION is completely done by me, based on my own conducted in MD INDIA for the partial fulfilment of my Bachelors of Business Administration. Admittedly I have received suggestions and guidance from my guide.

DATE: PLACE:

NEERAJ TYAGI BBA V sem (2007-2010)

This to certify that the above statement made by the candidate is correct to the best of my knowledge.

Ms- SURBHI SHARMA LECTURE, ITM

CERTIFICATE

This is to certify that Mr. Neeraj Tyagi student of BBA from Institute of Technology management Dehradun, has carried out the project title drop, ROLE AND FUNCTION OF TRADE UNION AT MD INDIA under my supervision and guidance. This is an original piece of work and has been carried out to my utmost satisfaction
Brij Sharma Sr. Manager, HR MD INDIA MEERUT

Objective of the project

Primary objective

You will find out the market share of the LG and also calculate the display share. Positional dealer who can sale the LG product in large volume. You will Identify potential dealer and development these dealer. So LG can make them their direct dealer. The problem faced by the dealer in sales and the distribution.

Secondary objective

You will find out that how far the exhibitions are helpful in branding, While purchasing the consumer durables which parameter is most important for the consumer, Do the consumers prefer the financial facility for buying consumer durable. Frequently consumers change the consumer durable. enhances the knowledge of consumer durable market, increases the knowledge consumer durable product of LG, enhances the knowledge about the marketing and branding activity.

INTRODUCTION
ABOUT TOPIC
A marketing strategy is a process that can allow an organization to concentrate its (always limited) resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. Marketing strategy as a key part of the general corporate strategy marketing strategy is most effective when it is an integral component of corporate strategy, defining how the organization will engage customers, prospects and competitors in the market arena for success. It is partially derived from broader corporate strategies, corporate missions, and corporate goals. They should flow from the firm's mission statement. They are also influenced by a range of micro environmental factors. A marketing strategy also serves as the foundation of a marketing plan. A marketing plan contains a set of specific actions required to successfully implement a marketing strategy. For example: "Use a low cost product to attract consumers. Once our organization, via our low cost product, has established a relationship with consumers, our organization will sell additional, higher-margin products and services that enhance the consumer's interaction with the low-cost product or service."A strategy consists of well thought out series of tactics. While it is possible to write a tactical marketing plan without a sound, well-considered strategy, it is not recommended. Without a sound marketing strategy, a marketing plan has no foundation. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives. It is important that these objectives have measurable results.

Marketing Objectives
The ultimate objective of any marketing activity is to satisfy the customers and today even a step ahead i.e. delighting the customers, for which customers are offered something beyond their expectations from the service or the product. The objective being to acquire and retain the customers, who should continually feel that they are getting more value of the money, they are departing with. Marketing is the establishment, development, maintenance and optimization of long-term mutually valuable relationships between consumers and organisation. Successful Marketing focuses on understanding the needs and desires of the customers and is achieved by placing these needs at the heart of business by integrating them with the organisation strategy, people, technology and business processes. At its most basic, Marketing involves customers, organisations and relationships and the combination creates the need for the management. Marketing is about creating a competitive advantage by being the best at understanding, communicating, and delivering and developing existing customer relationships in addition to creating and keeping new customers. The concept of the product life cycle is giving way to customer life cycle, focusing on developing products that anticipate the future needs of existing customers and creating services that extend the existing customer relationship beyond the mere transaction. The customer life cycle will focus on lengthening the life span of the customer with the organisation rather than the endurance of a particular product. Customers have changing needs as their life styles alter- the development and provision of products and/or services that continuously seek to satisfy those needs is good Marketing.

The Marketing will focus greater attention on how to deliver customer satisfaction and organization will begin to structure itself around customer segments and not product lines. A good Marketing Strategy will take the business vision and apply it to the customer base.

Marketing Process:
We often talk of marketing & Sales and often use it interchangeably without understanding the difference in it. Marketing is everything we do to get and leverage a client relationship. Marketing process is broad and includes all of the following: -

Discovering what product, service or idea customers want. Producing a product with the appropriate features and quality. Pricing the product correctly. Promoting the product; spreading the word about why customers should buy it. Selling and delivering the product into the hands of the customer.

Selling is one activity of the entire marketing process. Selling is the act of persuading or influencing a customer to buy (actually exchange something of value for) a product or service.

LG Marketing Strategy:

Marketing mission of the LG o To provide world class State-of-art technology services on demand at affordable price. o To provide world class infrastructure to develop countrys economy.

Marketing vision of LG is o To become the largest Service Provider in Southeast Asia. o In dynamic environment anything permanent is CHANGE. So we must revise and review so that focus is never lost.

ABOUT THE TOPIC

LG Electronics was established in 1958 and has since led the way into the advanced digital era thanks to the technological expertise acquired by manufacturing many home appliances such as radios and TVs. LG Electronics has unveiled many new products, applied new technologies in the form of mobile devices and digital TVs in the 21st century and continues to reinforce its status as a global company.

1960's Produces Korea's first radios, TVs, refrigerators, washing machines, and air conditioners

1995 Renamed LG Electronics Acquires US-based Zenith

1997 World's first CDMA digital mobile handsets supplied to Ameritech and GTE in U.S. Achieves UL certification in U.S. Develops world's first IC set for DTV

1998 Develops world's first 60-inch plasma TV

1999 Establishes LG Philips LCD, a joint venture with Philips

2000 Launches world's first Internet refrigerator Exports synchronous IMT-2000 to Marconi Wireless of Italy Significant exports to Verizon Wireless in U.S.

2001 GSM mobile handset Exports to Russia, Italy, and Indonesia Establishes market leadership in Australian CDMA market Launches world's first Internet washing machine, air conditioner, and microwave oven

2002 Under LG Holding Company system, separates into LG Electronics and LG Corporation Full-scale export of GPRS color mobile phones to Europe Establishes CDMA handset production line and R&D center in China

2003 Enters Northern European and Middle East GSM handset market Achieves monthly export volume above 2.5 million units (July) Top global CDMA producer

2004 EVSB, the next-generation DTV transmission technology, chosen to be the U.S./Canada Industry standard by the US ATSC Commercializes world's first 55" all-in-one LCD TV Commercializes world's first 71" plasma TV Develops world's first Satellite- and Terrestrial-DMB handsets

2005 Becomes fourth-largest supplier of the mobile handsets market worldwide Develops world's first 3G UMTS DMB handset, 3G-based DVB-Hand Media FLO DMB Phone with time-shift function and DMB notebook computer Establishes LG-Nortel, a network solution joint venture with Nortel

2006 LG Chocolate, the first model in LG's Black Label series of premium handsets, sells 7.5 million units worldwide Develops the first single-scan 60" HD PDP module and 100-inch LCD TV Establishes strategic partnership with UL Acquires the world's first IPv6 Gold Ready logo

2007 Launches the industry's first dual-format, high-definition disc player and drive Launches 120Hz Full HD LCD TV Demonstrated the world-first MIMO 4GEnabled technologies with 3G LTE Won contract for GSMA's 3G campaign 2008 Introduces new global brand identity: "Stylish design and smart technology, in products that fit our consumer's lives." Posted No.1 spot in US frontloading washers in 5 consecutive quarters Unveiled the world's first Bluetooth headset combined mobile phone Unveiled the world's first Blu-ray network storage Developed the world's first LTE mobile modem chip Recorded over 100 million units of LG air conditioners in accumulated sales

2009 Became second-largest LCD TV provider worldwide Became third-largest supplier of mobile handsets market worldwide Became Global Partner and Technology Partner of Formula One

2010 Unveiled the worlds first and fastest dual-core smartphone, LG OPTIMUS 2X Unveiled the worlds first full LED 3D TV Unveiled the new E90 monitor, the companys slimmest LED monitor to date at just 7.2 mm in depth Unveiled the companys first ever Real 3D Sound Home Theater System Unveiled its latest, groundbreaking creations: the BIGIN, a largest-in-class washing machine with LGs proprietary 6 Motion Direct Drive; the iPRO, the largest, most energy efficient refrigerator in its class; the worlds first solar Lightwave oven and the worlds first KOMPRESSOR vacuum cleaner 2011 Launched water treatment business providing full-scale planning through total maintenance solutions Introduced CINEMA 3D Smart TV combining industryleading 3D technology and smart TV capabilities Launches water treatment business providing full-scale planning through total maintenance solutions Introduced CINEMA 3D Smart TV combining industry-leading 3D technology and smart TV capabilities Unveiled the worlds first smart appliances delivering the consumer benefits of smart savings and smart convenience Increased investment in air conditioning solutions delivering a full line-up for residential through large industries

Introduced LG Revolution , LGs first 4G smartphone followed by Optimus LTE, the companys best-selling 4G smartphone to date LG.Philips LCD, a leading innovator of thin-film transistor liquid crystal display (TFT-LCD) technology, announced today that it will showcase its newest line-up of public displays at the Consumer Electronics Show (CES) 2008 in Las Vegas. The companys public displays, which are designed for commercial and advertising use, range in size from 32 to 52 inches.

LG.Philips LCDs innovative new technologies for public displays center on increasing interactivity and viewability. Multi-touch interface capabilities create a never-before-seen level of interactivity by allowing users to manipulate objects on screen, using both hands at once and even offering the precision necessary to recognize handwriting. Another technology, transflective backlights, tackles one of the key challenges in developing public displays: readability in all lighting conditions, including direct sunlight. According to Chris Connery, Vice President of DisplaySearch, The public display market for larger size (26-inch +) flat panel products alone is projected to grow from under one million units shipped in 2006 to over 3.5 million units by 2011, representing a CAGR of over 31 percent. Connery added, Of the two major flat panel technologies in this large format sector, LCD-based technologies are forecasted to have the most significant growth rate, with a projected CAGR of over 69 percent from 2006 to 2011.With strong growth projected for digital signage in public displays, we believe that LG.Philips LCD is well-positioned to take on even more of a leadership role in developing new technology for this sector, said Soo-

Chul Park, LG.Philips LCDs Head of Public Display Department. We can provide total solution public display products to our customers through developing the cutting-edge software which goes with public display hardware. Through improving our public display products viewability in both indoor and outdoor conditions and by differentiating their interface technology, we are planning for full-scale operation of our public display business in 2008. LG.Philips LCDs public display products featured at CES 2008 include: 52-inch Multi-touch Screen Worlds Largest Multi-touch Display LG.Philips LCDs 52-inch multi-touch panel for public and interactive displays is not only the worlds largest, it is also one of the most responsive, able to recognize input from either a touch of a finger or more precise writing instruments. It uses an infrared image sensor that gives it the ability to recognize two separate touch points as well as gestures. It boasts some of the industrys highest specifications, with a 90 Hz touch response time, 1920 x 1080 Full HD resolution and a light transmission rate of 95 to 100 percent. 47-Inch Triple View LCD Worlds Largest and Highest Resolution Triple View Display LG.Philips LCDs 47-inch Triple View LCD features Full HD 1920 x 1080 resolution, can reproduce 1.07 billion colors and has a brightness of 250 nits. This display is an ideal solution for applications such as store directories and advertising at shopping malls. By splitting the light from the panel into separate paths, it is able to show three completely different images to people standing at different angles relative to the display.

47-inch Double-sided LCD for Public Displays LG.Philips LCDs 47-inch Double-sided LCD is two-sided display that uses a single backlight. At only 70 mm thick, it is 30 percent thinner than conventional models, but its luminance of 500 nits equals that of regular panels.

42-inch Transflective LCD for Outdoor Use LG.Philips LCDs 42-inch transflective display for outdoor use boasts an impressive 1,500 cd/m2 luminance in outdoor light, greatly improving daytime readability. The display is equally effective at night, relying on the power of its backlight. By adopting a special transflective technology, LG.Philips LCD has developed a backlight that greatly enhances the viewability of an LCD panel during all times of the day.

84-inch Multi-vision Multi-touch LCD for Interactive Public Displays LG.Philips LCDs flagship multi-touch display is an 84-inch model created by conjoining four 42-inch panels in a two-by-two array. This acts as a single enormous display with multi-touch capabilities across its entire surface. A screen bezel width of only 15mm, which is 40 percent smaller than the average bezel, adds to the panels seamless look and feel. The display also has Full HD 1920 x 1080 resolution, an omni-directional 180-degree viewing angle and impressive 500 cd/m2 brightness. This affairs favorable 42-inch 42LD450 LCD HIGH DEFINITION can be an superb acknowledgment to acquaintance a able HIGH DEFINITION entertainment. The abstraction shows a abounding 1080p HI-DEF resolution to get a bright consequence top quality, AV Modes to added advance your consequence bent by absolutely what you appear to be searching at (Sports, Cine abode and

aswell Games), and even an amazing 100: ONE able set off arrangement to access far added beauteous hues and aswell lower blacks. Added capabilities tend to be listed for archetype FOUR milliseconds aftereffect occasion, suspension to try out MP3 to get tunes playback, JPEG clear slideshows to get consequence slideshows, SOMETHING LIKE 20 watts affiliated with stereo speakers forth with Dolby Digital decoding, as able-bodied as THREE HDMI inputs.

LG 42LD450 important capabilities: 100 % HD 1080p Superior That amazing clear is absolutely the primary acumen anyone ideal a abundant HIGHER DEFINITION TV through the alpha off. By application about alert the accurate pixel res, Complete HIGH-DEFINITION 1080p food it forth with ablaze present top superior before the accurate accepted HIGH DEFINITION TV. Application this HIGH DEFINITION TV, you will see coloration in accession to facts apropos the aboriginal time. ONE HUNDRED, 000: YOU Active Comparison Relative bulk You may overlook about getting anxious bedimmed demonstrates or conceivably arid shades. That HD TV's active anatomy a adverse measurement affiliated with 100, 000: ONE offers abundant added admirable hues and swell appreciably added absolutely blacks than an alone can yield into consideration. AV Function Morphing, shows additional sports activities would be best accomplished with abnormally advised configurations. With all the AV Style, it absolutely is apprehensive accessible one of several A FEW angel controls apropos "Cinema", Sports" or "Games" to attending at amusement through a acceptable animated account additional complete recording experience.

Photo Magician Attain simple self-calibration calm with on-screen advertiser credibility pertaining to photograph acceptable superior elements agnate to charcoal levels, color, color, back-light in accession to accurateness ranges with

this amazing Free Free 42 inch LCD TV . Accomplish assumption advancing from photograph variations applying this easy-to-use feature. It is not about any remarkable. Then again, it is traveling to complete like assured in that way. 24p Actual Cine amphitheater With this element, abide in for the movie. Encounter an accurate cinema on your acreage application movies just how they will are meant to consistently be seen. LG's Genuine Cine abode systems absolutely appearance 24p antecedent frames for the affectation screen, just like about the cine showcase. Adam Caitlin is expert author of Telecommunication industry.

History of LG Company
The company was originally established in 1958 as Gold Star

1958-1969-GoldStar The Electronics Industry Dream

1970-79 GoldStar symbol of The Technolgoy

1980-88 :- INTERNATIONALIZATION

1989-94 INOVATION

1995-98 GLOBAL LEADERS LG ELECTRONICS

1999-2003-DIGITAL MANAGEMENT

2004-2006 GREAT PEOPLE GREAT DESIGN

2007-THE PEOPLE COMPANY

The LG Group was a merger of two Korean companies, Lucky and Gold Star, from which the abbreviation of LG was derived. The current "Life's good" slogan is a backronym. Before the corporate Name change to LG, household products were sold under the Brand name of Lucky, while electronic products were sold under the brand name of Gold Star. The Gold Star brand is still perceived as a discount brand.

In 1995, Gold Star was renamed LG Electronics, and acquired Zenith Electronics of the United States.

Code of conduct of LG
Responsibility and obligations to customers

Respect for Customers Creating Value Providing Value

Fair competition

Pursuit of Free Competition Compliance with Laws and Regulations

Fair Transaction

Equal Opportunity Fair Transaction Procedure Support and Aid for Business Partners

Basic Ethics for Employees

Basic Ethics

Completion of Duty Self Development Fairness in Performance Avoidance of conflict with company interest

Corporate Responsibilities to employees

Respect for human dignity Fair Treatment Promoting Creativity

Responsibilities to society and country

Rational Business Development Protection of stock holder interest Contribution to social development Environmental Conservation

Objectives:

1. To understand the marketing and advertising strategies of LG Electronics India (Pvt.) Ltd 2. To analyze their strategies and its effect on the corporate profile of the company. 3. To compare the strategies of LG Electronics India (Pvt.) Ltd with its competitors and to analyze its strengths. 4. To realize the role being played by advertising and promotion on the sales volume of the company. 5. To understand the future trends in advertising and marketing in LG especially electronic segment. 6. To Analyse the Advertising and Marketing strategies of competitors.

RESEARCH METHODOLOGY

Research is a way of finding new ways of looking at familiar things in order to explore ways of changing it. Research as a process involves defining and redefining problems, hypothesis, formulation organizing and evaluating data deriving, deductions, inference an conclusions, after careful testing. Research methodology is a way to mathematically solve the research problem. It may be understood as a science of studying how research is done scientifically.

Research Design

A research design provides the framework to be used as a guide in collecting and analyzing data. We can classify research design into the following three categories:

Exploratory research. Descriptive research. Casual research. Amongst these mentioned designs, we have opted for descriptive research.

Descriptive Research

A descriptive research is generally based on the secondary data that are readily available. It does not have a formal and rigid design as the researcher may have to change her focus or direction, depending on the availability of new ideas and relationships among variables. Sometimes, such studies may be based on the detailed case analysis of a few firms or individuals.

Source of Data Collection

The data for this study has been collected through both the primary and secondary sources: Primary sources: A close ended questionnaire having the option for suggestions in the end has been used for primary data collection. Moreover, while getting the questionnaire filled up; related questions were asked from the respondents. Secondary data: As a secondary data source - Books, Websites, booklets of the company have been used to collect the data.

Sampling: Population:
Rajpur Road (Dehradun) Dilaram Chock( Dehradun)

Sample size
100 Respondents were asked to fill the questionnaire.

Method of Sampling
There are two types of sampling method: 1. Probability Sampling Method and 2. Non-probability Sampling Method The major sampling methods under non-probability sampling are: Convenience Sampling Judgment Sampling Quota Sampling In the survey, the method of sampling used is Convenience Sampling

Convenience Sampling
As the name implies, the selection of the sample is left to the researcher who is to select the sample. The researcher normally interviews persons in groups at some retail outlet, supermarket or may stand at a prominent point and interview the persons who happen to be there. This type of sampling is also called accidental sampling as the respondents in the sample are included merely because of their presence on the spot. The data collection and sample cost is minimum in this case. However, the method suffers greatly from quality, i.e. Accuracy point of view which can in no way be determined. However, this type of sampling is more

suitable in exploratory research where focus is on getting new ideas/insights into a given problem.

Data Analysis And Interpretation

Chapter 4:
4.1 Data Analysis and interpretation 4.2 Findings 4.3 Conclusions 4.4 Recommendation 4.5 Limitations of the study

DATA ANALYSIS AND INTERPRETATION

Table.1: Background of customer Background of customer

Working people in Govt sector Working people in Pvt. Sector Businessman Non-working people Graph No-1

No. of the Respondent

55% 27% 8% 10%

10% 8% Working people in Govt sector Working people in Pvt. Sector 55% 27% Businessman Non working people

INTERPRETATION:
This graph indicated that 55% of the respondent belongs from working people in Govt sector, 27% of the respondent belongs from working people in Pvt. Sector& the remaining 10% are the businessman and 8% non-working people.

Table 2 Respondent using cell phone and landlines

Option LG Product Other product

No. of Respondent 70% 30%

Grap h No-2
30%

70%

INTERPRETATION:
The graph indicated that 70% Respondent using LG Product and 30% are using other product

Table3 Respondents awareness about other LG Products

Option LG Product Samsung Videocon Sony Not aware

No. of Respondent 45% 30% 10% 10% 5%

Graph No-3

No. of Respondent

LG Product Samsung Videocon Sony Not aware

INTERPRETATION: The graph indicated that 45% Respondent are used of

LG Product companies and 30% Samsung and 10% Videocon, 10% sony and 5% not aware of any company of LG Product

Table.4: Respondent awareness about the services of LG

Option Yes No No.of Respondent 60% 40%

Graph No-4

40% Yes No 60%

INTERPRETATION:
The graph indicated that 60% people are aware about the services of LGwhere as the remaining 40% are not aware of it.

Table.5: Marketing strategies opted by LG are better than the strategies opted by others
Option No. of Respondent

Yes No Dont know

35% 55% 10%

Graph No-5

10%

35% Yes No Dont Know

55%

INTERPRETATION:
The graph indicated that out of 100% people 35% people said marketing strategies opted by LG are better than the strategies opted by others and 55% no and 10% said dont know.

Table.6According to Respondent strategies opted by LG are better than other companies because of

Option Better advertisement Better publicity Unlimited resources

No. of Respondent 40% 30% 30%

Graph No-6

30% 40% Better advertisement Better publicity Unlimited resources

30%

INTERPRETATION:

The graph indicated that Out of 100% Respondents 40% are said advertisement is better strategies LG better than other strategies, 30% are unlimited resources (newspaper,

magazine) 30% are better publicity.

Table7Respondents awareness about all products of LG

Option Yes No

No.of Respondent 40% 60%

Graph No-7

40% Yes No 60%

INTERPRETATION:
The graph indicated that 40% people are aware about the product of LGwhere as the remaining 60% are not aware of it.

Table.8Services prefer by the customer most

Option Clearity Sound Quality Look & Texture All the above

No. of Respondent 35% 20% 20% 5%

No. of Respondent

Clearity Sound Quality Look & Texture All the above

INTERPRETATION:
The graph indicated that out of 100% people 35% people are like the LG Product because of its Quality 20% people of its Sound Quality 20% like look and texture and 5% are known for its better performance

Table.10: Satisfaction with the LG Product

Options Strongly satisfy Satisfy Neutral Dissatisfy Strongly dissatisfy Total

Respondents 8% 22% 48% 12% 10% 100

Graph No-10

Respondents
10 12 22 8

Strongly satisfy Satisfy Neutral Dissatisfy Strongly dissatisfy

48

INTERPRETATION: Out of 100% people 8% are strongly satisfy, 22% are

satisfy, 48 % are neutral,12 % are dissatisfy and 10% are strongly dissatisfy with LG product . Most of the people answer is neutral.

FINDING
1. There are so many companies so competition in very high. 2. Most of the Respondents are working in the Govt sector they are using LG services. 3. Most of the Respondents have LG Products and its totally satisfy 4. Most of the Respondents are aware other companies apart of LG. 5. 60%Respondents are aware about the LG products/ services. 6. 35% Respondent of think marketing strategies of the LG is better than the other. 7. Most of the Respondents said advertisement is better strategies LG better than other. 8. Most of the Respondent are using LG services/product because their cost is not so high as comparison to other companies

Limitations:

While doing the project the following inevitable hurdles has come my way:

Inability in meeting high marketing personnel in the concerned companies due to their busy schedule.

Information regarding stage of various products in the product life cycle is not available.

The information base is limited due to resource constraints. The critical aspect like price could not be covered completely. The other hurdles which I had to face, the secrecy of the company policies due to which complete information regarding financial position & salary and wage structure could not fully covered.

Areas of marketing research are not revealed by the companys official.

Conclusions & Recommendations:

The Indian Consumer Electronics & Home Appliances Industry is traditionally dominated by the inferior quality and sub-standard products. People go for price while buying home appliances. They seem unaware of the features needed in a standard white good. Earlier mostly the white goods are manufactured to cater the present defined demand are need. The whole scenario got changed in the post liberalization era with the entry of multinationals like Samsung, LG, and Sony etc. LG is among the great chaebols (confederation of small industries) from Korea. It has started its operation in India in May 1997 by opening a 100 % fully owned subsidiary. LG is a company positioned as manufacturer of innovative and worldclass products. Its growth strategy is based on sales and distribution network. It has

penetrated in 1800 town with population of 1 lakh and above. They are planning to expand their dealer network to over 3000 dealers by the end of 2002. They are planning to penetrate towns with 50,000 populations and above. It means 7,000 more towns in its network. They have maintained a fast pace of growth since their entrance in the Indian market. It has products in the categories of CTV, Washing Machines, Refrigerators, Air conditioners and Microwave Ovens. It has established a strong brand name standing apart in the consumers mind. In the beginning of 1999 a survey by Taylor Nelson depicted LGs brand awareness at around 49 %, the Gall-up Survey conducted during Cricket World Cup 2002 demonstrated LGs brand recognition at 85 %. It has invested 100mn US $ in the manufacturing facility and is planning to invest US $ 289 mn over the next 3 years and is also planning to export product worth 100 mn US $. LG believes in honest pricing and not being gimmicks of discounts and price reduction as lure. Their strength of marketing is consumer pool, good products and pricing power.

Its product designs are centred on the middle & upper class and the ads screened highlight the product features. Its employees are totally committed to quality and innovation. They chant TPI 50 and TDR, which signifies, total productivity innovation and tear down reengineering. Through this method the company is bringing down its costs & developed new products.

LGs corporate image is that of being the Digital leader of the new millennium.

Marketing v In case LG intend to have an entire range of washing machines to cater to all segments of the market, it should have a smaller capacity washing machine as Videocon ( 3 Kgs etc ) as the market for them is still very large.

v The colours of LG Semi Automatic Washing Machines (Off White, Pale Beige, and Light Grey) are very trendy and appeal to the customers. v It has to give more warranty periods like other players do in the industry v More Demonstrators are required for LG Products. Instead of go for a limited distribution network it has to build a wide channel network.

Advertising & Public Relations: The communication strategies for washing machines are not fruitful for the

target segments. So, there should be developed a new communication strategy for it. Instead of going for clean clothes and longer life for clothes, the ad theme should target to the womens or females, which other players do like Videocon & Whirlpool. Because a lady in the family is the main buyer in purchasing the product. So, a new USP was to be developed.

ANNEXURE

QUESTIONNAIRE

Q.1 The background of the respondent. (a) Working people in govt (b)Working people in a pvt. Sector (c) Business man (d) Non working people Q.2 Are you aware about the other Product ? (a) LG (b) Samsung (c) Sony (d) Videocon

Q.3 Are you aware about the services of LG? (a) Yes (b) No

Q4. Are you using LG LCD of other Product ? (a)Yes (b)No

Q5. Do you think the marketing strategies opted by LG are better than the strategies opted by others (a) Yes (b)No

Q6. In what way the strategies of LG are better than other companies? (a)Better advertisement (b)Better publicity (c)Influences of Govt (d)Unlimited resources Q7. Are you aware about the products available at LG? (a) Yes (b)No

Q8. Which services are you aware about at LG? (a) Picture Quality (b)Price (c) Sound Quality (d)All of above

Q.9Are you prefer product of the LG most?

(a) LG LCD (b) Washing Machine (c) Refrigerator

BIBLIOGRAPHY
1. Internet Sites www.google.com www.economictimes.com www.lg.org.com www.abnramro.com

2. Magazines and Newspapers. Economic Times Business India The Times of India

3. Books Kotler, Philip. Principles of Marketing. Asoke K. Ghosh, 2006 Malhotra, Naresh K. Marketing Research. Asoke K. Ghosh, 2007