LG seeks ideas for a strategy to increase brand relevance in the smartphone premium segment, reinforcing the image of LG as a premium brand with full range coverage, and leading, therefore, to a higher market share in the Iberian market.
LG Electronics is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing 75.000 people working in 118 locations around the world. With 2016 global sales of USD 47.9 billion, LG comprises four business units ― Home Appliance & Air Solutions, Mobile Communications, Home Entertainment and Vehicle Components ― and is one of the world’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators.
Recent years have seen a change in the Iberian (Spain, Portugal) smartphone market. For many years, the sales of smartphone devices were driven by the packages designed by mobile network operators (“carriers”), which bundle the device with access to the mobile network. This would represent about 80% of total device sales versus only 20% of devices being purchased outright in an “open market”, i.e. separately from the mobile network access. For the last 3-4 years the market has become even more open and the current percentage of sales from retailers (consumer decision) has increased to about 60%. The consequences for a smartphone manufacturer are obvious: the business model changes, with the consumer’s perception of a brand gaining even more relevance.
Against this backdrop, smartphone manufacturers need strategies to improve brand preference (i.e. the extent to which consumers prefer a particular brand over its competitors) and/or brand relevance (i.e. the extent to which a brand is perceived as relevant to a particular market relative to its competitors). The Seeker is a well-known global brand that produces consumer electronics such as TVs, washing machines, refrigerator, smartphones, etc. However, consumers first associate the brand with various other products before they think “smartphones”. This is something that the Seeker wants to change.
Scope of Work:
- Strong networks and partnerships across the entire supply chain including retailers and POS (point of sale)
- Established collaborations and synergies between departments globally
LG Twin Towers, 20, Yeouido-dong, Yeongdeungpo-gu, Seoul S.KOREA
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