PREFACE

This project report is on the MARKETING STRATEGY OF LG. Theories can be read but the perform it in the real life is different experience will together. Management courses are designed to produce future managers and unless you have practical knowledge the theoretical knowledge is not implicated. Hence this project is to give us the practical way of knowing how market behaves and reacts. This is also in part fulfillment of BBA Degree.
NARGIS KUSHWAHA BBA

IV th Semester

ACKNOWLEDGEMENT
Preparing a project of this nature is an arduous task and I was fortunate enough to get support from a large number of persons I wish to express my deep sense of gratitude to all those who generously helped in successful completion of this report by sharing their invaluable time and knowledge. It is my proud and privilege to express my deep regards to respected Principal Sir Dr. J.P.N. Pandey, Head of Department Dr Anand Tiwari, Mrs. Shikha Urmil Khan and Mr. Shailendra Patel, , Miss.Deepti

patel Department of Business Management , Govt. Autonomous Girls

P.G. College of Excellence, Sagar, for allowing me to undertake this project. I feel extremely exhilarated to have completed this project under the able and inspiring guidance of Mrs. Shikha Urmil Khan . She rendered me all possible help and guidance while reviewing the manuscript in finalising the report. I also extend my deep regards to my teachers, family members, friends and all those whose encouragement has infused courage in me to complete the work successfully.

NARGIS KUSHWAHA B.B.A.

IV th Semester

DECLARATION BY THE CANDIDATE

I declare that the project report titledMARKETING STRATEGY OF LG. is my own work conducted under the supervision of Mrs. Shikha Urmil Khan Faculty

Department of Business Management. Govt. Girls P.G. College of Excellent, Sagar. To the best of my knowledge the report does not contain any work which has been submitted for the award of any degree, anywhere.

NARGIS KUSHWAHA B.B.A.

IV thSemester

CERTIFICATE
The Project report titled " MARKETING

STRATEGY OF LG"has been prepared the marketing

strategy and advertisement by Miss.
KUSHWAHA NARGIS

student of B.B.A. IV

th

Semester under the

guidance and supervision of Mrs.Shikha urmil khan for the fulfillment of the Degree of B.B.A.

Signature of the Supervisor

Signature of the Head of the Department

Signature of the Examiner

INTRODUCTION
Established in 1997, LG Electronics India Pvt. Ltd., is a wholly owned subsidiary of LG Electronics, South Korea. In India for a decade now, LG is the market leader in consumer durables and recognized as a leading technology innovator in the information technology and mobile communications business . LG is the acknowledged trendsetter for the consumer durable industry in India with the fastest ever nationwide reach, latest global technology and product innovation. One of the most formidable brands, LGEIL has an impressive portfolio of Consumer Electronics, Home Appliances, GSM mobile phones and IT products. LG Electronics India Pvt. Ltd., a wholly owned subsidiary of LG Electronics, South Korea was established in January, 1997 after clearance from the Foreign Investment Promotion Board (FIPB).

The trend of beating industry norms started with the fastest ever-nationwide launch by LG in a period of 4 and 1/2 months with the commencement of operations in May 1997. LG set up a state-of-the art manufacturing facility at Greater Noida, near Delhi, in 1998, with an investment of Rs 500 Crores. This facility manufactured Colour Televisions, Washing Machines, Air-Conditioners and Microwave Ovens. During the year 2001, LG also commenced the home production for its eco-friendly Refrigerators and established its assembly line for its PC Monitors at its Greater Noida manufacturing unit.The beginning of 2003 saw the roll out of the first locally manufactured Direct Cool Refrigerator from the plant at Greater Noida.In 2004, LGEIL also up its second Greenfield manufacturing unit in Pune, Maharashtra that commences operations in October 2004. Covering over 50 acres, the facility manufactures LCD TV, GSM Phones, Color Televisions, Air Conditioners, Refrigerators, Microwave Ovens Color Monitors.Both the Indian manufacturing units has been designed with the latest technologies at par with international standards at South Korea and are one of the most Eco-friendly units

amongst all LG manufacturing plants in the world. LG has been able to craft out in ten years, a premium brand positioning in the Indian market and is today the most preferred brand in the segment.At LG, we believe that technological innovation is the key to success in the marketplace. Founded in 1958, we've led the way in bringing advanced digital products and applied technologies to our customers. With our commitment to innovation and assertive global business policies we aim to become a worldwide leader in advanced digital technology. VisionLGs vision is to deliver innovative digital products and services that make our customers lives better and easier happier, even through increased functionality and fun. LG Electronics plays an active role in world markets with its assertive global business policy. As a result, LG Electronics controls 114 local subsidiaries worldwide, with roughly 82,000 executives and employees. To locate any of LG Electronics offices or subsidiaries, click the relevant region on the map below. If no data appears once you have selected your region, click Ask. Brand IdentityLGs brand identity focuses on

self-expression and a promise of satisfaction to its customers.

HISTORY
LG Corp. founder Koo In-Hwoi established Lak-Hui Chemical Industrial Corp. in 1947. In 1952, Lak-Hui (pronounced"Lucky", currently LG Chem) became the first Korean company to enter the plastics industry. As the company expanded its plastics business, it established GoldStarCo.Ltd., (currently LG Electronics Inc.) in 1958. Both companies Lucky and Goldstar merged and formed Lucky-Goldstar. Goldstar produced South Korea's first radio. Many consumer electronics were sold under the brand name GoldStar, while some other household products (not available outside South Korea) were sold under the brand name of Lucky. The Lucky brand was famous for its line of hygiene products such as soaps and HiTi laundry detergents, but most associated with its Lucky and Perioe toothpaste. In

1995, to better compete in the Western market, the Lucky-Goldstar was renamed "LG", the abbreviation of "Lucky-Goldstar". More importantly, the company associates the letters LG with the company's tagline "Life's Good". This tagline came from Australia, where many of the products are tested first by LG. Since 2009, LG also owns the domain name LG.com. In 1996 LG formed a joint venture with IBM. This joint venture was later terminated. On 1 April 2000, LG Chemical was split into three separate companies, namely LGCI, LG Chem and LG Household & Health Care. Later, in July 2007, LG Chem merged with LG Petrochemical. Since 2001 LG has two joint ventures with Royal Philips Electronics: LG Philips Display and LG.Philips LCD, but Philips sold off its shares in late 2008.[9] In 2005, LG entered into a joint venture with Nortel Networks, creating LG-Nortel Co. Ltd. LG has a joint venture with Hitachi, Hitachi-LG Data Storage, which makes optical data storage devices like DVD-ROM drives, CD writers, etc. LG acquired American television manufacturing company Zenith in 1999. LG has owned the LG Twins baseball club in Seoul, South

Korea since 1989. The stocks are separated into four parts, 52% are owned by the CEO, 22% are distributed and the other 26% are owned by the next generation CEO who's currently attending a university in Orlando, Florida getting her degree in business and Recording Arts.[clarification needed] The company logo of LG features the letters L and G, presented in the form of a smiling human face. Commodore Business Machines, rebranded products of GoldStar, Philips, Magnavox mostly monitor displays.

COMPANY PROFILE
LG COMPANY PROFILE Type Traded as Industry Public KRX: 066570 LSE: LGLD Consumer electronics Home appliances Telecommunications 1958 Seoul, South Korea Worldwide Koo Bon-joon (Vice Chairman and CEO)

Founded Headquarters Area served Key people

Products

Computer monitors Flash memory Televisions Smartphones Tablets Mobile phones

Revenue Net income Employees Parent Website

US$ 48.23 billion (2011) US$ 1.1 billion (2011) 91,254 (2011) LG Group www.lge.com www.lg.com

BOARD OF DIRECTORS

Bon-Joon Koo Vice Chairman & CEO, LG Electronics Inside Director

David Jung CFO of LG Electronics (Executive Vice President) Inside Director

Yu-Sig Kang CEO of LG Corp. (Vice Chairman) Non-executive Director

Sang-Hee Kim Lawyer Outside Director

In-Ki Joo Professor Yonsei University Outside Director Kyu-Min Lee Advisor SK Research Institute for Super Management Outside Director

MARKETING STRATEGY OF LG
Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainablecompetitive advantage. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives.Plans and objectives are generally tested for measurable results. Commonly, marketing strategies are developed as multi-year plans, with a tactical plan detailing specific actions to be accomplished in the current year. Time horizons covered by the marketing plan vary by company, by industry, and by nation, however, time horizons are becoming shorter as the speed of change in the environment increases. Marketing strategies are dynamic and interactive. They are partially planned and partially unplanned. See strategy dynamics. Marketing strategy involves careful scanning of the internal and external environments.Internal environmental factors include the marketing mix, plus performance analysis and strategic constraints. External

environmental

factors

include

customer

analysis,

competitor analysis, target market analysis, as well as evaluation of any elements of the technological, economic, cultural or political/legal environment likely to impact success. A key component of marketing strategy is often to keep marketing in line with a company's overarching mission statement.Once a thorough environmental scan is complete, a strategic plan can be constructed to identify business alternatives, establish challenging goals, determine the optimal marketing mix to attain these goals, and detail implementation.A final step in developing a marketing strategy is to create a plan to monitor progress and a set of contingencies if problems arise in the implementation of the plan.[1] Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives.Plans and objectives are generally tested for measurable results. Commonly, marketing strategies are developed as multi-year plans, with a tactical plan detailing specific actions to be accomplished in the current year. Time horizons covered by the marketing plan vary by

company, by industry, and by nation, however, time horizons are becoming shorter as the speed of change in the environment increases. Marketing strategies are dynamic and interactive. They are partially planned and partially unplanned. See strategy dynamics. Marketing strategy involves careful scanning of the internal and external environments.Internal environmental factors include the marketing mix, plus performance analysis and strategic constraints. External environmental factors include customer analysis, competitor analysis, target market analysis, as well as evaluation of any elements of the technological, economic, cultural or political/legal environment likely to impact success. A key component of marketing strategy is often to keep marketing in line with a company's overarching mission statement. Once a thorough environmental scan is complete, a strategic plan can be constructed to identify business alternatives, establish challenging goals, determine the optimal marketing mix to attain these goals, and detail implementation.

OBJECTIVE OF THE PROJECT

The main objective of project is to prepare the marketing strategy and Advertising of LG are as under : To know availability and durability of the product and services of LG . To know whether products are feasible. To know about best quality of LG.

To know about very good services of LG.

LIMITATION
As said a basic research was conducted at the company to enables the company to assess how far the customers are satisfied with product and services of LG.During the course of the study the following limitations were observed: (a) The method will be unsuitable if the number of persons to be surveyed is very less as it will be difficult to draw logical conclusions regarding the satisfaction level of customers. (b) Interpretation of data may very from individual depending on the individual understanding the product features and services of the company . (c) The method lacks flexibility.In case of inadequate on incomplete information the result may deviate. (d) It is very difficult to check the accuracy of the information provided.

(e)

Since all the products and services are not widely used by all the customers it is difficult to draw realistic conclusions based on the survey.

SUGGESTIONS
The following suggestions are offered to the LG:1. As the LG thus company should launch effective promotional. 2. Wide advertisement showing utility of their product and features of their product should be made. 3. Company may offer gifts scheme from time to time so that he product may attract the masses. 4. 5. The company should lower the price The company should come up with attractive

advertising plants. 6. 7. The company should improve its distribution network. The company should also think and implement some public relation programme.

CONCLUSION
1. Customer's priority is on the price, mileage, and look while purhasing LG. They are not much affected y promotional programs. 2. Dealers expect some promotional schemes/ offers from the company. 3. There are many promotional offers available to the customers like: Company hired many cricketers and actors for promoting the product.

BIBLIOGRAPHY

Marketing Management by Sir Kotler Philip Marketing Research by Sir Sharma D.D. Websites : o Www LG .com o www.google. Com o www.marketing stratergy of LG.com

RESEARCH METHODOLOGY

INTRODUCTION :

Research methodology is a very to systematically solve the research problem in common place refers to a search of knowledge Research in an original contribution to the existing state of knowledge making for its

advancement. The role of research in several field is business on economy as a whose, has greatly increased in modern times.
Meaning and Scope :

Research in command plaice refers to a search for knowledge in fact research in an art of scientific investigation the meaning of research can be stated as a careful investigation or inquiry though search for nun gales in branch of knowledge

According to Different Woody:

Research and reeling problems formulating defining and redefining problems, formulating hypothesis a suggested solution collection organizing and evaluating data marketing deductions research conclusion at lost

carefully testing the conclusion to determines whether they fit the formulating hypothesis. Research is an original contribution to the existing stock of knowledge marketing for its advancement in hurt the research for knowledge through objective and systematic method of grinding solution to a problem in research.
Research Design:

A research design in purely and simply

the

framework or a plum for a study that guides the collections and analysis of the data. A good research design has the characteristic viz problem definition,

specific method of data collection and analysis time required for research project and estimator of expenses to incurred it may be worthwhile to mention here that a research design is nothing more than frameworks for study so that Secondary data is second hand in formation on the other hand on includes those data which are collected for same earlier research work and are applicable or usable in the study research has presently undertaken to collect additional information I made use of secondary data like magazines websites, newspapers etc.

DECLARATION BY THE CANDIDATE

I declare that the project report titledMARKETING STRATEGY OF LG. is my own work conducted under the supervision of Mrs. Shikha Urmil Khan,Faculty

Department of Business Management. Govt. Girls P.G. College of Excellent, Sagar. To the best of my knowledge the report does not contain any work which has been submitted for the award of any degree, anywhere.

NARGIS KUSHWAHA B.B.A.

IV thSemester

INDEX
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. Preface Acknowledgment Declearation Certificate Introduction History Company Profile Board of Directors Objectives Research Methodology Marketing strategy of LG Limitations Suggestions Conclusions Biblography Enclosure