Marketing Mix of LG and SAMSUNG
the student's assignment and are not examples of our able article writers' work. READ MORE Bazaar analysis and business mix of LG and SAMSUNG This Korean company, which was founded in 1958, accumulated alternative two Korean companies alleged Lucky and Goldstar. Therefore, LG was authentic as the two companies, but currently, it agency Lifes good. LG Electronics is one of the leaders and innovators of technology in the world, and it focuses on customer electronics, adaptable communications and home accessories (OPPapers, 2010). SAMSUNG Founded in 1938, SAMSUNG has become one of the bigger electronics companies in the world.
As the best accepted electronics aggregation amid consumers in the world, Samsung owns a acceptable reputation. Moreover, Samsung occupies added than 20% of absolute consign in South Korea (Samsungish, 2010). Currently, the accession and aerial affection of Samsung’s articles are acclimatized by the accomplished apple (SAMSUNG, 2010a). 1. 2 Approach 1. 2. 1 Bazaar Analysis Bazaar analysis agency that businesses bisect their markets into a few sections with agnate features, so that they can ambition altered groups of consumers and aftermath commodity or account for them.
Market analysis is classified into four methods which are geography, demography, attitude and behaviors (Hall et al, 2008). Business mix Business mix is authentic as “those elements of a firm’s business action which are advised to accommodated the needs of its customers”. There are four factors which are alleged 4Ps, and they are product, price, promotion, and abode (Hall et al, 2008:75). Aims The cold of this address is to assay the differences of the bazaar analysis and business mix of LG and SAMSUNG. Findings LG LG, a acclaimed cast about the world, is to acquaint TVs to rural areas in China (Articlesbase, 2010).
Home accessories such as TVs, abrasion machines, and refrigerators are LG electronics’ aloft articles (LG Electronics, 2010). In addition, LG is accomplished in application advertisements to allure shoppers (Pakistan & Gulf Economist, 2005). SAMSUNG Similarly, Samsung sells its articles in the world. It not alone sells to cities but additionally rural areas. In adjustment to advantage consumers, Samsung holds promotional contest to allure shoppers. However, Samsung has some articles which LG does not produce, such as PC peripherals, book solutions, and anamnesis cards (SAMSUNG, 2010b).
Discussion Bazaar analysis LG An accessible way of segmenting bazaar is geography. LG Electronics sells its commodity advance all over the world, abnormally acclaimed countries, for example, LG agenda television in China. Yucheng Zheng (2010), the CEO of LG Electronics (China) Co. , Ltd. , appear that LG launched a activity to advance agenda television in rural breadth in China. LG targets at the rural bazaar and provides agenda TVs and home applicants for rural consumers. The accent of rural articulation is “price competitiveness”.
LG is activity to abate the amount of its articles so that it can advance able-bodied (Articlesbase, 2010). SAMSUNG Samsung focuses on rural breadth as well, for example, the Samsung blush TV in rural breadth and burghal breadth of China. This articulation involves “mass market, low- and medium-end units to rural barter or high-end articles to burghal customers” (EssayForStudent, n. d). To accord with an all-encompassing artefact line, a accumulation bazaar capacitates Samsung to amuse customer needs. Because Samsung enters China bazaar late, it faces challenges to be succeeded in accumulation market.
Furthermore, the rural market, which is about 80% of the accomplished market, is aimed by Samsung via the “low-end units”. However, because of the antecedent businesses of “low-cost, low-end blush TVs”, Samsung had to accomplishment a new “high-end TVs” in burghal market. With the arresting advance of people's active standard, the abundance of high-end TVs in burghal bazaar in China is accretion admitting the articulation is not big (EssayForStudent, n. d). Business Mix LG Artefact LG pays absorption to high and high average classes and provides articles for those consumers.
High affection and acceptable account of LG articles are so accelerating that articles are achievement to developed countries (Pakistan ; Gulf Economist, 2005). LG Electronics (2010) in China shows that the articles accommodate TV audio video, adaptable phones, home appliances, IT products, and air conditioning (LG Electronics, 2010). Amount The appraisement action of LG is “cost additional anchored mark up”. Following the appraisement policy, LG’s blueprint is “import amount + reasonable gross profit”. The blueprint is acclimated to awning the bazaar amount and accomplish profits in any bazaar including China (Pakistan ; Gulf Economist, 2005).
An LG’s corpuscle buzz alleged Lollipop amount RMB 2,000 in 2009, back it aboriginal appeared in China. Advance One able way of advance is advertisement. As a acclaimed brand, LG advertises its articles to get answer (Pakistan ; Gulf Economist, 2005). LG is acclimatized to agreeable acclaimed stars to acquaint its merchandise. For instance, Kim Tae-Hee, a acclaimed actress, advertised for LG adaptable buzz and camera. Her advertisements allure adolescent shoppers in China to buy about merchandise. Abode LG’s commodity is awash throughout the world, abnormally developed regions.
There are numbers of LG retailers in big cities including Guangzhou, Shanghai and Beijing. In addition, LG sells its articles in home apparatus braid retail enterprises such as Suning and Gome in China. SAMSUNG Artefact As aforementioned as LG, Samsung additionally provides adaptable devices, TV audio video and home accessories for Chinese shoppers. However, there are some articles that LG lacks, such as camera camcorder, PC peripherals, book solutions, and anamnesis cards (SAMSUNG, 2010b). Moreover, “focusing on the approaching of wireless communications, Samsung launched affected articles such as the adaptable hone watch, the PDA-phone, the agenda camera cum adaptable phone, the MP3 adaptable buzz and its latest archetypal of 3G adaptable phone” (123HelpMe, 2010). Amount The amount of Samsung articles is agnate with LG. For example, Samsung F480 Adaptable Phone, which has “223 MB Memory, 5 Mega-Pixel Camera with 4 X Agenda Zoom”, amount RMB 993-RMB 2,325. Another example, “Samsung UA40C7000 40" 3D LED TV, which is 40" Screen, Full HD, Aerial Definition, Widescreen, HDMI, Internet, and 1920 x 1080 pixels”, amount RMB 9,320- RMB 15,656 (MyShopping, n. d. ). Advance Samsung consistently holds sales promotional events.
For example, recently, there is an accident alleged “Samsung Smart TV Promotion” in HongKong. Barter can get a “FREE Samsung 1TB alien Hard Drive and 3D Starter Gift Pack aloft purchasing acceptable archetypal of 3D LEDTV and 3D LCD TV” from 16th October to 30th November (SAMSUNG, 2010c). The advance is able to advice Samsung aggrandize its sales. Abode Samsung sells its articles by retailers and home apparatus interlinks retail enterprises Suning and Gome as able-bodied as LG. Nevertheless, Samsung not alone sells articles in cities, but additionally in countryside.
Samsung in China took allotment in a action alleged “home accessories to rural areas” in 2009. This action was to add profits to the masses that lived in rural areas. Samsung was one of the companies that advice rural bodies advance their active standard. Conclusion In short, the address involves the accomplishments of the two aggressive companies, approach of bazaar analysis and business mix and allegory amid the two companies. Via discussing bazaar analysis and business mix of LG and Samsung, the superiorities of the two companies are accessible to be found.
The accepted backbone of Samsung is bigger than LG, so LG has to be enhanced. Recommendation According to the analyses above, LG is recommended to advance its promotional contest so that there will be added consumers to acquirement its merchandise. Furthermore, LG is declared to aggrandize the ambit of its articles to altered fields. However, Samsung should allocate its analysis added clearly. As a result, if the two companies abate the price, the appeal of their cyberbanking articles will increase. Read more: http://www. ukessays. com/essays/marketing/marketing-mix-of-lg-and-samsung-marketing-essay. php#ixzz2OTcQ9YYp
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