Branding For New Product
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LG is launching a new series of LCD products. It aims to establish itself as a leading global brand through effective communication strategies. LG's strengths include its prominent brand presence and portfolio. However, it needs greater focus on sustainability and CSR awareness. The action plan includes a new product launch, PR through sponsored events, and tying up with celebrities for roadshows to increase recall of the LG brand among consumers and youth. Strategies will highlight LG's corporate social responsibility and manufacturing processes to build credibility.
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Branding For New Product
- 1. Consumer Durable Companye.g.- LG ElectronicsProduct launch of New Series of LCD
- 2. Presentation FlowUnderstanding of BrandSWOT AnalysisCommunication ObjectivesAction Plan/Strategies
- 3. Understanding of brandAt LG, they believe that technological innovation is the key to success in the marketplace. Founded in 1958, They've led the way in bringing advanced digital products and applied technologies to its customersLG’s brand identity focuses on self-expression and a promise of satisfaction to its customersLG’s vision is to deliver innovative digital products and services that make our customers’ lives better and easier—happier, even—through increased functionality and fun
- 4. SWOT AnalysisSTRENGTHSHigh Profile presence
- 5. Leader in consumer electronic products
- 6. Excellent portfolio of iconic brands
- 7. Focus on Environmental safety
- 8. Sponsorship of big events like cricket matches and various realty showsWEAKNESSESLesser focus on sustainability
- 9. Low awareness about LG’s CSR campaignsOPPORTUNITIESAround 300mn prosperous middle class, oriented towards western consumer habits
- 10. Potential in Consumer electronics
- 11. Enhancement in technologiesTHREATSNegative Publicity
- 12. Stiff Competition in LCD marketCommunication ObjectivesTo establish LG as a leading brand for global investors and consumers therefore the greater visibility in media and regional reach with good service becomes the necessity
- 13. To increase the recall brands of Coca Cola and its top-management
- 14. To establish LG as a fun brand for the youth to associate and underline their individuality(specifically by executing good events)
- 15. Firmly establish LG as a thought leader & partner
- 16. Communicate the commercial success and expansion of the company.
- 17. To project a professional image for the organizationAction PlanDefine the Target Audience- Customers, Dealers, Channel partnersNew Product Launch(LCD) – PR Based Media interface- Focus on Sponsored events, geographically specific stories, branding stories, conferences and seminarsEvent Based Media Interface- Tie-up with celebrity management agencies for executing road shows, conferences on international CSR issues with global delegates, organize some regional events for attracting emotional appeal, a flagship event aimed to providing a vocal platform for its ideologies, arranging visibility in talk shows
- 18. Effective StrategiesStories or events on corporate giving boost to sports in IndiaLife Positive – A Distributor newsletter to help build positive mind, body, and positive spirit, adding happiness to life.Media tours to factory to bring credibility about the processes College Activation programs