STRATEGIC MARKETING PLAN FOR LG ELECTRONICS NIGERIA STRATEGIC MARKETING PLAN FOR LG ELECTRONICS NIGERIA
Omoruyi Okekumata
Omoruyi Okekumata
TABLE OF CONTENT table of contents i
EXECUTIVE SUMMARY ii
II Introduction 4
III Situation Analysis 5
1.1 competition analysis 5
2.1 pest factors in lg 5
2.1.1 political factors 5
2.1.2 economic factors 5
2.1.3 social-cultural factors 5
2.1.4 technological factors 5
3.0 PORTER’S FIVE FORCES ANALYSIS OF LG ELECTRONICS 6
3.1 Rivalry among Competitive Firms 6
3.2 POTENTIAL Entrants 6
3.3 Threat of substitute products or services 7
3.4 The Bargaining power of customers (buyers) 7
3.5 The Bargaining Power of Suppliers 7
4.0 SWOT Analysis 8
4.1 Strengths: 8
4.2 weakness 8
4.3 opportunities 8
4.4 threats 9
5.0 Aims, Objectives and strategies 9
5.1 Mission/Aim 9
5.2 Marketing Objective 9
5.3 Financial Objective 10
5.4 Strategy 10
5.5 core value 10
5.6 tactics 10
5.7 control 10 6.0 segmentation, targeting and positioning strategies 11
6.1 target market 11
6.2 segmentation 11
6.2.1 segmentation from geographic 11
6.2.2 segmentation from demographic 12
6.2.3 segmentation from behaviouralistic approach 12
6.3 positioning 12
7.0 implementation 13
7.1 Product in the Marketing mix of LG 13
7.2 Price in the Marketing mix of LG 14
7.3 Price in the Marketing mix of LG 15
7.3.1 Marginal cost pricing 15
7.3.2 Geographical Pricing 16
7.4 Promotion in the Marketing mix of LG 16
8.0 appendices 16
8.1 background of the firm 17
8.2 research evidence 17
8.3 reference list 17
I. Executive Summary
Business competition is getting tougher year after year as a result of progress made in technology and globalization. The world has now become a one large market where one can easily buy and sell products all around it. A lot of companies try to satisfy their
