Lg India Core Competencies Marketing Essay

Lg India Core Competencies Marketing EssayIndian telecom manufacture is considered one of the biggest markets worldwide. LG Electronics entered the Indian telecom market in 1997 as a subsidiary named LG Electronics Pvt. Ltd. The entering strategy was just to create a smart set presence in India (Tolputt, 1999). LG faced many difficulties in development a market sh be in diligent sector however later somehow managed to achieve 4.6% while the leading company Nokia was be at 64%. Quickly thereafter, LG was able to get hold of a position of 14.4% in urban market due to adoption of CDMA applied science. In the division 2007-2008 only it generated revenue of above $30 billion which went up to rough $54 billion in 2012.Great company, expectant people is the philosophical system of LG. This philosophy indicates the LGs vision to provision and adopt innovative technology. Technology has the indicator to alter consumers expectations. LG has achieved remarkable success due to i ts core competencies, availability and growth of alternatives. Promotion of LG mobile hollo is nighly celebrity endorsed or cricket sponsored to increase public visibility of the brand. Other forms of advertising are in addition adopted to boost the sales and electronic media has proved to be the most effective of all for LG in the new-fangled historic period (Gulati and Jain, 2010).LG India Core Competencies web CapabilitiesPreviously Indian market was crowded with GSM enabled phones and LG came up with CDMA technology focus on urban populations requirements of fast mobile data availability. This was a autocratic move and resulted in developing the brand name for LG in India. Moreover, LG smartphones began to attain public attention embedded with HSDPA compatibility and 3G data interface thus telly calling was introduced to the people. LG Electronics has also registered itself as a patent to operate in latest LTE technology standard and working hard to boost its computer hardware / software capabilities (Levi and Jeyaseeli, 2011).Innovative Product DevelopmentSo far LG has launched more(prenominal) than 50 mobile handset models in a couple of years most of these fall in the smartphone category. LG Optimus series has induce among the most customary mobile series in India due to feature rich mechanical man platform and latest hardware specifications. This series is easily catering several(prenominal) entry level smartphones for design conscious consumers. Android OS has become the largest smartphone platform recently and it has more than 20% market share in Indian telecom market last year. Pricing policy of LG has ever so focused low to mid range customers while features offered are forever great as offered in pro devices of other companies. In fiat to satisfy the growing economies, LG has always paid attention to keep its handsets low-priced for masses (Mukherjee, 2011).All the LG registered phone models are prepared in Korea and these hands ets are customized according to Indian standards prior to their launch in the subcontinent. The batteries provided with these handsets are do of high note material that is durable and efficient to withstand extended operating conditions. All the batteries meet the minimum 10 hours talk fourth dimension limit and on standby can hold charge for at least a whole month. LG phones offer young consumers a great fun and entertainment platform with fully supported multimedia capabilities. LG handsets are very stylish and sleek either these are QWERTY phones or contact sensitive phones. For music lovers, KS360 delivers the beats while KM710 is an elegant phone for appearance loving people featuring crispy LCD display. LG shine series is also very popular with metallic body and perfect finish (Verma, 2007).Multi-Sourcing caller-up has adopted a multi-sourcing strategy found on human resource for developing chipsets thus adding efficiency to the overall product development process. So, performance staff works side by side with chipset producers for accessing the practiced capabilities of phones based on these chipsets (Venkatesh and Chaudhuri, 2004). Marketing and branding teams also work alongside during intention of the handsets and launching model based ideal promotion strategies. After that the quality checking team for vigorous testing of the phones hardware efficiency, durability and reliability. Software compatibility issues are also addressed by the quality check team in the lead approving any device (Chong, 2003).Distribution NetworkLG has developed an blanket(a) distribution chain targeting retail outlets in an organized way to pull in the brand value. Distribution network of LG has spread nationwide and once a product is launched, it becomes available artlesswide in the entire major and score 2/3 cities simultaneously. Thus distribution network is among the sole competencies of LG Electronics and is a useful tool that plays its role in generatin g revenues. There are astir(predicate) 80,000 retails outlets in India operating at present and above 70% outlets of the country feature and sell LG mobile phones. LG Electronics offers its Indian distributors much higher luck for a better display and promotion of their mobiles to lure their customers (Levi and Jeyaseeli, 2011).Strategic Alliances all over the years, LG is known to develop by making collaborations and acquisitions in the Electronics market. Every company has its strengths and weaknesses so realizing this fact LG has partnered strategically with other organizations to meet the customer expectations and delivering bountifulness quality mobile phones. Some of the companies that are working alongside with LG and providing technical assistance in different fields are Skype, Sun, Intel, Qualcomm, Yahoo, Google, Adobe and Dolby etc. These companies provide their registered software/hardware solutions for certain features of LG marked mobile handsets (Levi and Jeyaseeli , 2011). investigate and DevelopmentIn order to achieve the status of worlds leading phone manufacturer, LG has invested heavily in the research and development. The company believes that without research and development of technology success can not be achieved in telecom industry due to ever changing standards and innovations. LG Electronics has achieved expertise in all advanced(a) cellular technology ranging from GSM, CDMA and WCDMA. Moreover the company is preparing itself to introduce LTE technology is future range of cell phones. LTE is the fastest data standard in mobile technology that can transfer data at ultra speeds that guide ten times as compared to regular ADSL connections. There is a recent report published by the Taurus Investment that recognizes LG as the registered third largest patient in LTE segment (Levi and Jeyaseeli, 2011).