LG PESTLE Analysis
Political Aspects
The political arena has a huge influence upon the regulation of the businesses, and the spending power of the consumers and other businesses. * India is politically stable which have a positive impact on their business activities in Asian sub-continent. * There is no FDI limit for retail companies operating in India which contributes to extensive competition among the existing companies and expand in different geographic areas. * EPCG (export promotional capital goods scheme)-zero duty scheme allows import of capital goods for production, pre-production and post-production. * L.G. electronics also has to comply with the standards set by environmental protection agency. * Setting of plants in tax incentive areas like greater Noida and Pune.

Economic Aspects
Marketers need to consider the state of a trading economy in the short and long-terms. Important economic factors are : * Inflation in India saw a slightly increase from 5.86 in 2014 to 6.32 percent in 2015. The increase in inflation is not in a higher rate so companies are safe. * The Indian economy grew 7.3 percent in the third quarter ended December 31, 2015
Growth in GDP combined with increasing disposable income of consumers with their changing lifestyles and trends in the industry will see a rise in demand for high-end segment durables, which gives LG an opportunity to expand and invest more in its manufacturing processes. * AC industry reversed its declining trend and grew by 20% YoY in Q3FY13.”

Social Aspects * Penetration of white goods across all major consumer appliances categories is more than 70 % in urban areas and more than 50% in rural areas * Increase in the employable population in the country and more nuclear families, so more potential customers. * Number of first-time users and people upgrading to better products is been increasing at a fast rate due to increasing disposable income. * Increasing competition among brands leads to decline in prices therefore higher affordability and greater chances of people up-grading. * Change in consumer preferences and trends. * They leave an impact on customer’s life by making it easy with 6thsense technology as consumers can achieve significant savings in time and power usage. * It shows lifestyle of customers.

Technological Aspects * With the advent of new technology, more features are being added to the existing products. * Increasing technology has helped to enhance its manufacturing and deliver more on quality front. * Service Centers have been opened up to provide quality services post-sale and faster addressing of customer problems.

Legal Aspects * GST for energy efficient appliance is less than a third of the regular tax for consumer durables. * Rules established in 2005 maintain restrictions on most existing joint ventures but allow new ones to negotiate their own terms on a commercial basis.

Environmental Aspects * Severe summers ranges through most part of the year which add up to the increasing demand for Air Conditioners and Refrigerators.
Delay in monsoon also supported overall demand for refrigerators and air conditioners (ACs). (http://thenextfinance.blogspot.in/2013/09/lg-pestle-analysis.html)

Mission/Vision Statement
LG Electronics (LGE) mission statement, taken from its website, states:
LG Electronics pursues its 21st century vision of becoming a true global digital leader who can make its customers worldwide happy through its innovative digital products and services.
LG Electronics set its mid- and long-term vision anew to rank among the top 3 electronics, information, and telecommunication firms in the world by 2010.
As such, we embrace the philosophy of "Great Company, Great People," whereby only great people can create a great company, and pursue two growth strategies involving "fast innovation" and "fast growth." Likewise, we seek to secure three core capabilities: product leadership, market leadership, and people-centered leadership (LG Electronics Vision).
LGE's mission statement explains that its goal is to become a top innovative electronics company in the world. It takes pride in its company and employees and believes that this is what will make it into one of the most innovative companies of the 21st century.
Marketing Management Philosophy
LGE's operates under the product concept of marketing management. From 52" Plasma Flat Panel televisions to thin, sleek mobile phones that also store and play music, LGE is a company that is devoted to "fast innovation and fast growth" (LG Electronics Vision). It has focused on "developing new products in winning and key businesses, and securing technology leadership." It provides high quality and constantly updated products to further ensure its success as a top electronics manufacturer. Its research and development efforts are specifically concentrated in the area of technological capabilities and developing new growth products (LG Electronics Technology Strategy). As a worldwide corporation, LGE strives to "make its customers happy through its innovative digital products and services and in doing so operate under the product concept" (http://www.answers.com/Q/What_is_LG_mission_statement)

LG electronics have a competitive advantage due to their high levels of research and development. They often come out with new advancements which set them apart from other companies. (http://www.answers.com/Q/What_are_the_LG_electronics_competitive_advantage)

KOLKATA | MUMBAI: LG Electronics failed to grow its sales in the Indian market for the third straight year in FY14, raising fresh questions about the South Korean electronics major's strategy of focusing on premium products.
LG Electronics India, which was the country's largest consumer electronics company just five years ago, is now reduced to nearly a fourth of its towering rival Samsung after it reported just 1% rise in net sales for the year ended March 2014 at Rs 11,580 crore as per its latest filing to the Registrar of Companies (RoC). Samsung India, in comparison, grew its sales 45% at Rs 40,392 crore.

(http://articles.economictimes.indiatimes.com/)