Researchon Marketing Strategy Of LG In China

The development of China's household appliances industry has entered a stable development stage,in the fierce market competition in the domestic household appliances brand has grown up,become the main force of the market,occupy the majority of the market share.With the development of e-commerce and social media in recent years,the marketing channel and marketing communication environment of household appliances industry has undergone great changes,and it is suitable for household appliances to continuously carry out product service innovation,marketing channel innovation and Marketing communication innovation.On the consumer side,with the increasing of consumer's income level,with the help of mobile Internet and e-commerce,consumers ' consumption consciousness and consumption behavior have changed greatly.Online channel has become an important choice for consumers to buy and will be the future trend,electronic word-of-mouth makes the influence of consumers enhanced,and consumers pay more and more attention to the taste and style of life,emphasizing convenience,personalization,customization and integration.Since its entry into the Chinese market in 1993,LG Electronics had relied on "strategic low-cost" pro-people strategies to provide highly cost-effective products to rapidly open the Chinese market in the early.However,after 2000 years of comprehensive promotion of the high-end brand market strategy,the internal due to personnel adjustment,promotion of the theme swing,insufficient promotion and conservative sales model,the external market due to changes in the environment,competition,the rise of domestic brands,and other reasons,market share has been declining every year,marketing strategies need to rethink and design.Based on the marketing management theory and the method of environmental analysis(PEST analysis method),competitive analysis method(Michael Porter's competition theory)and SWOT analysis method,this paper puts forward the problems such as the lag of brand communication,the dilemma of channel choice,the conservative product strategy and the old lack of innovation in the marketing strategy of LG Electronics.From the future development of the market,LG Electronics has the advantages of technology research and development,internationalization advantages,localization advantages,category advantages and brand advantages,such as the competitive disadvantage is the brand positioning disadvantage,brand promotion disadvantage and sales model disadvantage,and market development environment there are consumption upgrades and supply-side reform to provide opportunities,as well as facing the strong competition of domestic brands and the increasing threat of consumers ' right to choose.Based on the above analysis,this paper puts forward the basic strategy of defining LG electronic high-end market positioning and implementing differentiated competition strategy,and the marketing strategy to promote the innovation and differentiation of LG electronic brand.Specifically,is to create the international image of LG Electronics,increase the localization of LG Electronics publicity,increase the brand promotion of LG Electronics and other means to implement the brand innovation,through product differentiation,channel innovation and marketing promotion innovation and other innovative strategies to promote differentiation.The research of this paper puts forward the above suggestions about the future development of LG Electronic China market,it has certain reference value to the innovation of marketing strategy of LG Electronics,and it also has some referential significance for other enterprises in household appliances industry.