Lg Electronics – International Business

The multinational association that I get out be examining is LG Electronics. LG Electronics is based let out of Seoul, Korea and was established in 1958. It is a adjuvant of LG Group, which is unrivaled of the large-mouthedst electronic conglomerates in the human being. This friendship is a global manufacturer of consumer electronics, tele colloquys systems, and position appliances. LG operates its duty through four study(ip) characters menage entertainment, meandering(a) communications, home appliances, and look learn & energy solutions. They are the hour largest manufacturer of flat screen televisions, and the trine largest producer of mobile earphones.North the States and Asia are its two largest trades, each add about 30% of sales. According to their website, LG Electronics has over 120 ventures fountainhead-nigh the world. They employ more or less 93,000 personnel. LG Electronics owns Zenith Electronics and controls a large portion of LG Display. Its ho me entertainment division produces cutting advance products, such(prenominal) as liquid watch glass display (LCD) televisions, plasma televisions, 3 belongings (3D) televisions, home theater systems, projectors, and audio, video, and storage devices.The mobile communications branch provides a safe line of communication devices, mobile communication terminals, and tablet personal computers (PCs). The home appliances division manufactures microwave ovens, refrigerators, washing machines and more. The air conditioning and energy solutions branch readys air conditioners, schools solar energy cells, and provides green lighting solutions. The consumer electronics constancy is growing rapidly with numerous progressive products being invented due to recent advances in technology. This has driven increases in consumer demand.LG Electronics is one of the booster cable competitors in this area. The global market is slightly equally divided between the joined States, Asia, and Europe. The Americas orbit accounts for 38% of the global market, and is henpecked by the US market. Additionally, the economic gain in substantial markets such as China and India has boosted the global consumer electronic market revenue. LG Electronics has many different international activities. This caller has branches in almost every region of the world. For instance, LG has production plants in Mexico, Saudi Arabia, Turkey, England, Poland, and Brazil.This flowerpot operates offices for merchandise its products in every nation imaginable, such as Jordan, Nigeria, Russia, Australia, Thailand and the United States. This is really a company that is rapidly expanding its holdings around the world. This quite a little is putting full endeavour into becoming one of the top trey manufacturers of electronics and telecommunications systems on earth. They are doing so, by instruction two major strategies fast understructure and fast growth. LG Electronics is putting a draw play of t ime and money into research and development, in army to get ahead of its competitors.LG is placing the volume of its fret into what they term smart technology. hopeful technology is LGs development doctrine that embraces sensitive communication with customers in enunciate to provide products that everybody wants to use, and easily can. This customer point principle has come the most main(prenominal) development philosophy for LG. The key areas that LG is charge on are the mobile phone and digital television industries. They are in like manner actively participating in fell projects such as home networks to develop in the buff products with various service providers.LG Electronics is too developing new business opportunities by creating strategical bail bonds with other successful companies. It is LG Electronics close to become number one in the world through these relationships. Businesses with different foundations are collaborating with LG to create a Strategic al liance between corporations. This is crucial to creating a new industry and solidifying the current one. matchless of the companies that LG Electronics is running(a) with is Skype. Through this partnership, LG is working to create television products with embedded Skype capabilities.General galvanising (GE) is another major corporation that LG is collaborating with. These two businesses have agreed to share patents on cooking appliances and refrigerators. Arguably the most eventful alliance that LG has formed is one with Microsoft. LG has already released a smartphone based on Microsofts Windows Mobile. In addition to that, the companies have been working together closely for personal computer, digital television, and mobile phone convergence. In declination 2002, the managing director of Francis Kanoi Marketing Services, Francis Xavier stated LGs success is more related to marketing than technological superiority. I believe that expending money for slap-up advertising is LG Electronics major international strategy. This is a technique that will work regardless of what region the consumer lives in. For example, in 2002 LG Electronics India launched advertising campaigns featuring cricketers. LG then released 22 commercials featuring world class cricketers to strengthen its association with cricket. Experts felt up that LG would profit by aligning itself with this boast in a country such India where cricket has a huge pastime.The company then spent approximately calciferol million dollars on advertising during the cricket world cup. Due to its aggressive advance plan, LG became the market leader in India for colorise televisions, washing machines, refrigerators, and microwaves. LG has since gone on to become one of the leading sponsors of cricket in India. This is a marketing plan that has worked well in other counties too. LG Electronics sponsors soccer teams in England and Costa Rica, where that sport has a large audience. In Australia and Argent ina, they are the corporate sponsors of rugger teams.LG also sponsors London Fashion week, as well as Formula unrivaled racing which has a giant following all over the world. In essence, LG Electronics is super smart in aligning its gull with popular sports and events. LG Electronics is a multinational degenerate that is striving to become the number one electronics conglomerate on earth. The company is working toward achieving this goal with more than one business strategy. First, they are putting time and effort into listening to the customer when it comes to research and development of new, better products.Second, LG has formed many strategic alliances with other major companies, in order to expand its holdings. Lastly and most important, this corporation is spending money on great advertising and sponsorship of popular sports teams all over the world in order to crowd its brand. References 1. http//en. wikipedia. org/wiki/LG_Electronics 2. http//www. lg. com/global/index. jsp 3. http//www. fibre2fashion. com/industry-article/11/1004/increasing-competition-creates-stress-on-marketing-managers4. asp 4. http//www. allbusiness. com/company-activities-management/company-strategy/16611527-1. hypertext mark-up language