All about LG Washing Machines
In 1958, LG Electronics was founded as GoldStar. It was established in the aftermath of the Korean War to provide the rebuilding nation with domestically-produced consumer electronics and home appliances. The start of the country’s national broadcasting that created a booming electronics market and a close relationship it quickly forged with Hitachi helped Goldstar to produce South Korea’s first radios, TVs refrigerators, washing machines and air conditioners. Goldstar was one of the LG groups with a brethren company, Lak-Hui (pronounced “Lucky”) Chemical Industrial Corp. which is now LG Chem and LG Households. Goldstar merged with Lucky Chemical and LS Cable on 28 February 1995, changing the corporate name to Lucky-Goldstar and then finally to LG Electronics.
LG Electronics Inc is a South Korean multinational electronics company headquartered in Yeouido-dong, Seoul, South Korea.
LG Electronics is part of the LG Corporation, the fourth-largest chaebol in South Korea, and its global sales reached US$55.91 billion in 2014. It comprises four business units: Home Entertainment, Mobile Communications, Home Appliances & Air Solutions and Vehicle Components, with Starion India as its main production vendor for refrigeration and washing machines in the Indian sub-continents. LG Electronics acquired Zenith in 1995 and controls 37.9 percent of LG Display as of 2013. Since 2003, LG Electronics remains the world’s fourth largest LCD television manufacturer. The company has 128 operations worldwide, employing 83,000 people.
Task: –
Research and critically analyse the marketing communications of LG in relation to their range of WASHING MACHINES only.
Part 1
• Analyse current communication for washing machines – analyse the characteristics, feature, and effectiveness of the Marketing Communications tools that LG currently employs for its range of Washing Machines only.
• Find 1 advert, 1 promotion, 1 sponsorship/event (Public Relations)
For each one specifies: –
– Who is the target market;
– What is the message;
– Why this message will appeal to the target;
– Support your answer with theory
Part 2
• Consumer Buying Process – define the model (briefly) – Analyse how the Consumer Buying Process influences LG’s Marketing Communications for its Washing Machine range only.
Problem recognition – information search – evaluation of alternatives – purchase decision – post-purchase behaviour
– For LG Washing Machines
– Find a (different) piece of communication from LG that matches each of the stages and explain how/why it works i.e. what is its purpose.
Part 3
• Communication Process – Find a communication model and describe briefly. Analyse how the Communication Process applies to LG for its washing machines range only, a global organisation.
Sender – message – media – receiver – feedback … leads back to sender, in the middle of the diagram is interference
– Select 1 piece of communication for LG washing machines
– Then analyse it in terms of the model
– Who is the sender?
– What is the message?
– What media was used?
– Who is the receiver i.e. identify the target market then why will this message appeal to the target? Then why was this the right media to get to this target
– What was the effect of the message?
– Interference… what could possibly have gone wrong with the message? (Misinterpretation, clutter, noise, wrong message, wrong target)
Part 4 (if you are to create your own LG Washing Machine in a small country, say Singapore)
• Based on your analysis and understanding of relevant theories, develop a Marketing Communication strategy for LG Washing Machines only in outlets in Singapore. This must include a pricing plan and be relevant to the current state in the Product Life Cycle (ensure that you justify the pricing plan rather than just generally stating what it is). You must then clearly demonstrate how you would communicate this to the target market.
• Communications Plan for LG washing machines in Singapore.
– This is your own creation
– Where is the product in the Product Life Cycle? Gives insight into what tools to use
– Clearly identify the target market
– What is the overall pricing plan and Why?
– Determine the message for this campaign then justified in terms of target and price etc
– Outline all the communication tools you will use to get this message to the target market and justify why they will work (Integrated Marketing Communication)
– You are creating a whole new campaign (do not tell me about an existing one)
Notes:
i. Part 1, Part 2 and Part 3 – no specific country
ii. Select and apply appropriate theories, techniques and models regarding the practical aspects of Marketing Communications.