The paper "Brand Management Plan for LG" is an outstanding example of a marketing case study. Life is indeed good with LG. LG is a lifestyle brand. A household name recognized virtually across the world. The LG brand is globally recognized and has continued increasing its customer base meeting and exceeding most of its expectation. (Deans, & Metcalfe, 2013, p. 393). LG’ s research and development initiative have seen the creating and successful role out of products that continue to satisfy the needs of the consumer. Brand Identity The electronics industry has had a wide range of competitors in the market and most technological advancements have increased in the last decade.
A brand can be defined as a service, product or concept that sets it apart from others produced by competitors. They are used in marketing, business and advertising. Branding is the practice of producing and publicizing the brand name. (McDonnell, 2001, p. 32). A trademark is used to protect the brands from being used by others. These trademarks re usually authorized by recognized bodies, mostly government agencies. There are four perspectives used when describing a brand.
They include; LG as a product LG as a person LG as a symbol and LG as an organization Firstly, LG defines its aspects of product identity by the production of quality and energy-saving electronics. The TVs, radios, fridges and phones use very little energy thus protecting our environment. Through its R & D programs, Brand Managers have time and time again been called upon to develop and direct various plans and strategies for the various existing and new products. Secondly, the description of LG as an organization highlight the attributes that are used to ensure a healthy and clean environment.
The electronics produced must meet a certain level of engineering safety measures that protect the environment and the customers. (McDonnell, 2001, p. 636) In addition, LG as a person highlights the strong partnership that the company has made with the consumers. LG electronics are easy to use and efficient in power saving. All products that come from the LG company are genuine and last long. This has built a strong loyalty and relationship with the customers. LG as a symbol defines the visual aspects of the company that make their product become high quality.
All products that carry the LG symbol are perfectly designed to ensure a high degree of efficiency. Brand positioning Brand positioning has attributes of the target market research and the message sent to the consumers. The target market is the high-end consumers who are tech-savvy and are highly educated in technological aspects. There is also the target market for consumers who need simplicity in the operation of the devices. The target market is people who are keen on the protection of the environment.
The points of parity define the adaptability of the device to the users in that most LG products are simple and flexible. The devices are compatible with other home and office equipment. (Gore, 2011, p. 57). The points of difference set the LG products apart from other devices made by other companies. Environmentally efficient devices are needed since power is getting more and more expensive considering the downturns caused by recessions. Brand Management and positioning play a big role in aligning an organization about the direction, options and approaches that would be required for a brand to realize its objectives.
Brand managers are required to engage in a lot of activities that are mostly of coordinator perspective. They would usually be required to engage with professionals in various fields such as research and development, manufacturing, sales, advertising, market and research. (Fä gerskiö ld, 2006, p. 12). There are very important individuals who are involved in the success of a product by either improving the value of products or successful launching of new products and transforming this into profitable returns for the organization.
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