LG to Become Top-Level TV Maker by 2010

LG to Become Top-Level TV Maker by 2010

By Lee Kwan-sup Vice President, Digital Display Strategy Team, LG Electronics LG is a leading lifestyle company, improving the lives of consumers around the world. In order to enhance consumers' understanding of the LG brand and to differentiate the company's image, LG has worked hard to establish a single global brand under the theme ``Life's Good." To accomplish this, all brand marketing communications from LG have a consistent look and feel, as well as consistent messages. The company's digital display business is of course no exception to this rule. So how does LG take something as open-ended as ``Life's Good" and apply it to something like a TV? Well, even though today we see a lot more individualism in the world, many products and even homes are all starting to look the same. This applies to TVs as well ― overall, they Lee Kwan-sup are often pretty similar. Which is where ``Life's Good" comes in. LG understands that for consumers to really enjoy and appreciate their homes and their lives, they want to emotionally connect with the products they own. Because of this, LG has started a branding revolution against sameness. As a TV today is not just an entertainment device but an element of home decor, LG offers a large range of TVs which differ vastly in both design and technology, allowing consumers more options for individual expression. Developed based upon consumer insights, LG TVs offer a beautiful viewing experience that fits consumers' lives through the perfect harmony of smart technology and stylish design. This beautiful viewing experience is also made real by incredible picture quality, diverse user-friendly features and sophisticated designs provided by LG. This year in particular, LG launched a series of new products, making 2008 a turning point for its business. First, LG debuted the world's slimmest tuner built-in LCD TV, Scarlet, and more recently launched its single layer screen-only plasma TV, Bobos. Both TVs are fully equipped with the most advanced picture quality technology and smart features like eyeQ Green and invisible speakers, showcasing both LG's technological leadership as well as its design superiority. While product differentiation is a must-have for branding, companies need something more to be remembered by consumers because technical differences among market players are diminishing. The ultimate competitive advantage can only come from a differentiated marketing communications strategy that changes the rules of the game to create a breakthrough. The Scarlet global launch campaign earlier this year is a good example. LG was clearly differentiated by creating emotional attachment through entertainment content, and by speaking to consumers' hearts rather than their heads. With this unconventional marketing approach, LG achieved more than 50 million dollars of PR value worldwide in the initial three months, while increasing consumer awareness of and preference for the LG brand significantly. Next year, LG plans to present even more exceptional products and to increase its global marketing both online and offline. LG will focus on introducing its premium products through an extensive marketing campaign aimed at improving its reputation and market share. The company will also take full advantage of its wide product line-up, from premium models to entry-level products. With these two key branding strategies, product differentiation and bold marketing, LG will change the landscape of the flat panel TV industry and achieve its vision of becoming a top-tier TV maker by 2010.