Marketing Management IGNOU

8/3/2019 Marketing Management IGNOU

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MarketingManagement

N a z i a P a r v e e n ( N a a z )

E n r o l m e n t n o - 1 1 2 1 6 2 5 9 9

IGNOUAssignment



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Marketing Management

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Weightage will be given to critical evaluation or reflection on the problem / issuebeing analysed.

Questions : - (100 Marks) 1:- Choose a brand in the LCD TV segment of your choice, conduct secondaryresearch in order to answer the following:-

Define clearly the target market segment Identify its 3 most important competitor brands Reveal the most important brand features (tangible and intangible) that

customers use to decide which brand to use Detail the brand image for your chosen brand and each of its closest

competitors Provide one or more perceptual maps which highlight the brand’s market

position and that of each competitor

Introduction: -

LCD TV have a slim design in the Digital TV groups, Liquid Cristal Displays so prevalent,different colours in panels, cool looking and a flat viewing surface, but have been fine tunedfor video display. LCD’s are quickly becoming quite commonplace on store shelves and inconsumer’s home. Recent advances in flat panel LCD technology are now allowed for larger screens, wider viewing angles, higher-quality video images and higher quality sound. LCDTV almost no static image burn-in problems because the fluorescent backlight is filtered bythe liquid crystal in solid state. About life, LCD TV can perfectly work for 50,000 and 80,000hours claimed by manufacturers. LCD TV more economical & good for the environmentbecause these are uses less power than others.

Now, the players of LCD TV market are manymore, but Samsung, Sony & LG are maintaining top market share because of visuallysuperior displays, brand quality perception and price.



History of LCD TV: -

In 1962, Richard Williams of RCA found some interesting electro-optic characteristics inliquid crystal by applying electricity to it, known as “William domains” inside the liquidcrystal. In 1964, George H. Heilmeier of RCA manages Williams work to turn a clear liquidmilky by applying electricity and the first working LCD display was built. In 1972, the firstactual active matrix display panel was produced by Westinghouse in the US. In 1988, the firstactive matrix full colour full motion LCD panel, sharp demonstrated. In 1988, the world’sfirst 14-inch colour TFT LCD TV was developed by the Sharp Corporation. In 1991,introduced the first wall hanging television product, the liquid crystal museum by SharpMogohiro Aramoto.

After this, all the companies those wereinvolved in this field, they began investing in LCD TV in a big way. Sharp has been a marketleader in 1988. Since than other manufacturer, like Samsung, Hannstar, LG, BanQ, HP, Sony& others have entered the fray. Despite being pivotal in the development of LCD technology,RCA was never able to capitalize on their contributions and never made or marketed aproduct.

The brand chosen is LG as a market leader and 3 most important competitors of the LG are Sony, Samsung and Videocon and the different stores visited for the survey are:-

LG showroom, Jeevanjee Refrigeration Engs, Lajpat Nagar Samsung showroom, Lajpat Nagar Sony showroom, Lajpat Nagar

Videocon showroom, Lajpat Nagar Next outlet, Lajpat Nagar



A Brief History:-

LG Electronics is a second largest conglomerate Korean company,its headquarters at Yeouido, Seoul, South Korea. It was originally established in 1958 asGoldStar, produced Korea’s 1 st Radio, TVs, Refrigerators, Washing machines and ACs. In1995, LG group was a merger of two Korean companies, Lucky and GoldStar, and becomeLG Electronics. LG was the first Korean company to enter the plastic market, The productsunder this company are electronics, chemical and telecommunication.

LG has always been at the forefront of TV technology andis known for its award winning innovations. LG Electronics has proven to the business worldthat they are one of the most prestigious technology companies in the industry.

Target Market:-

Segment ation of LG (Life’s Good) :-

LG is one of the largest producer and market leaders of LCD TV segment; it has segmentedon Demographic, Geographic, Behavioural and Psychographic variable. In Demographicvariable it has concentrate on income & generation. In Geographic variable it hasconcentrated on metro cities. In Behavioural variable it has concentrated in benefit sought &brand loyalty. In Psychographic variable it has concentrated in lifestyle.

Demographic:-

Income - The price of LG LCD TV is not very high according to others, so it hasconcentrated itself on middle and high class income groups.

Generation – The LG LCD TV is looks luxurious, has good quality and it has lots of features those are attract different generation. It has concentrated itself on Gen Y,DINKS & Yuppies. (Gen Y- fluent and comfortable with gadget. DINKS- doubleincome no kids. Yuppies- young urban professionals.)

Geographic:-

The geographical sphere of LG LCD’s is more concentrated on the metro cities of theWorld far and wide covering almost the Northern, Southern, Eastern and Western partof the Globe.



Behavioural:-

Benefit sought - It has lots of features and used modern high technology like 3D TV,Stable Touch IPL Panel, Same Colour from any Angle, Vivid & Clear Motion Picture,and Size Premium.Brand loyalty - LG LCD TV is a high brand in Global Market. It has a huge share inthe LCD market, because of the good brand image it has in the global market.

Psychographic:-

Life style - It is modern, stylist, has good quality, uses modern technology, high brandin global market and looks luxurious.

The most important competitors of LG LCD TV:-

The most competitors’ brands of LG LCD TV are Sony, Samsung & Videocon.

Sony is a Japanese company, its headquarters at Minato,Tokyo, Japan. It is World’s fifth largest media conglomerate. The size and the scope of thecompany is almost unimaginable. It was founded in 1946, as Tokyo Tsushin Kogyo and thefounder of the company were Masaru Ibuka and Akio Morita. The company name waschanged to Sony Corporation in January, 1958. The products under this company areelectronics, product for the consumer and professional markets.

Samsung is a Korean company, its headquarters at Samsung city,Seoul. It is South Korea’s largest and most diverse company, the size and the scope of thecompany is almost unimaginable. It was founded in 1938, and the founder of the companywas Byung-Chull Lee. In 1987 founder and chairman, Byung-Chull Lee passed away and LeeKun-hee took over as Chairman and CEO, Lee Soo-bin is the President & CEO. The mainproducts under this company are electronics and technology based.



Videocon is an India-based, its headquarters at Aurangabad, Maharashtra,

India. Company originally founded in 1986 as Adhigam Trading Private Limited in Gujaratbut in 1991 the name of the company was changed to Videocon Leasing and IndustrialFinance Private Limited but in same year the “Private” word was deleted due to a re solution.The name of the company was again changed to Videocon Industries Limited by a resolutionin 2003. The founder of the company was Shri Nandlal Madhavlal Dhoot and now thechairman & managing director of the Videocon is Venugopal Nandlal Dhoot. It is India’syoungest company to touch higher turnover. The company is primarily into manufacturing &distribution of electronics products.

Source: - www.emtworldwide.com_global_showimage.ashx_Type=Article&ID=23391.mht

LG (Life’s Good) is a great preference according toSony, Samsung and Videocon. The value for money for a LG is much more than others and ithas well after sales service support. Samsung has a cheaper price with same quality and haslots of features, more than others. LG LCD TV is the top seller brand and has better valueaccording to other LCD TV.

LG LCDs have higher market share in 2010 & has topposition. LG Electronics has increased its unit share of flat panel TV , LCD’s and shipment to22.7% in 2010, taking the top market share position in the Indian TV market. In factaccording to the newly published Display Search Quarterly India TV shipment and Forecast

database, LG’s competition, Samsung Electronics, Sony Corporation & Videocon Industries,followed close behind with shipment market share of 21.0%, 20.8% & 13.6%, respectively.

http://www.emtworldwide.com_global_showimage.ashx_type%3Darticle%26id%3D23391.mht/






LG (Life’s Good) has many competitors but the main competitor of LG are Samsung, Sony &Videocon. LG is facing tough competition from these all & each of the company is producingsame LCD’s with more or less quality but here they differentiate their product in the productfeatures on the basis of performance & quality.

“Knock it to believe it….” Experience faster motion clarity, zero ghosting & true colourfrom every angle on a larger screen than standard LCDs . Can’t believe your eyes? Knock thestable touch Panel of an LG IPS LCD TV to believe it, Company Quotation by catalogue.Here the company want to define their LCDs performance and quality. There are somespecial features who making LG LCDs different those are:-

IPS Panel: Excellent MPRT performance and variation

No colour shift & no gamma shift when viewed from any angle No moving picture image sticking

Size Premium: 42W is 10% larger than 40W, the gap is equal to area of 12.1 Advance Picture Clarity Dynamic Contrast Ratio

The most important brand features:-

Different competitor brands in the LCDs marketare under cut throat competition because changing technology and advance need of thecustomer, each and every brand is coming up with new innovations. The brand must havesome quality or the other so that the customers are interested in buying that product. It shouldhave some of the key features like:-

Branding is endowing products and services with the power of the brand, so the brandmust be appealing to the customer.

The customer evaluates the products on the basis of value based pricing, productfeatures, quality and service mix quality.

The customer will choose a product based on their perceived value.

The company should have wide range of products with different product quality sothe customer always has a choice of what to choose and how to choose. The brand must have an improved perception of product performance, Greater

Loyalty, Less vulnerability to competitive marketing actions, less vulnerability tocrises, larger margins, more inelastic consumer response, Greater trade cooperation,increased marketing communications effectiveness, possible licencing opportunity.

Tangible brand features that effect the customer:-

Shape: - How many shapes do the brand exist.

In the case of LG LCD’s it has many products which are in different shapelike, JAZZ.



Source: - http://www.cafegadgets.com/crazy-images/enlarge/lg_26LU11UR.JPG

Colour: - What is colour in which the brand is present. In case of LG LCDs it has different colours in some LCD’s like JAZZ. It has

many colours like White, Black, and Red etc.

Source: - http://www.cafegadgets.com/crazy-images/enlarge/lg_22LU10UR.JPG

Size: - The size in which the brand is present.

In the case of LG ’s it has lots of sizes like 19/22/26 /32/42/47/55”.

Models: - The model which are present. In the case of LG ’s it has very big range of models like 32LG60, 32LK450,

32LG5000, 32LH5000, 32 PFL 5604 H, LH 7000 & so on.

Price: - What are the prices that are available for the product, whether the price isnominal or it is high.

In case of LG ’s it has nominal & high price, both price are available according

to customer need & product quality.

http://www.cafegadgets.com/crazy-images/enlarge/lg_26LU11UR.JPG










Features: - What are the features of the product. In case of LG’s it has some special features according to others like IPS panel

& picture clarity etc. Benefits: - What are the benefits that the customers are going to gain from this

product or this brand. In case of LG’s they provides good services for customers like maintenance,discounts, best quality products & warranty etc.

Intangible brand features that effect the customer:-

Company Name: - How much is the company name recognised. Suppose if we see LG Electronics for electronics Products and suddenly it

comes up in cosmetics Industries like “LG Cosmetics”. Nobody can acceptthis and totally not expectable for the customer.

Brand name: - Same as, how will be brand name accepted with others. If LG’s comes up in “LG Fairness Cream” nobody can accept this.

Slogan and its underlying association: - Slogan and association play a key role inpreparing the customer mind set.

Like the full form o f LG is Life’s Good and this line attracts the customers.

Perceived quality: - It is compulsory for company to satisfy the customer with thequality of the product which will help in building brand loyalty.

Likewise LGs have good products quality which helped in built brand loyalty.

Brand Awareness: - How much is the customer. Likewise LGs have good products quality which helped in built brand loyalty.

Source:- http://cdn.wn.com/pd/04/ca/07e32c297212ebe28f2a6835dd88_grande.jpg

http://cdn.wn.com/pd/04/ca/07e32c297212ebe28f2a6835dd88_grande.jpg






Trademarks and Patents: - Trademarks and patents indirectly make the customerfirmly believe the worth of the products.

Likewise LGs have own trademark and product patent so nobody can copythis.

Image:-

“A brand is a complex symbol. It is the intangible sum of a product’s attributes, itsname, packaging and pric e, its history, reputation and the way it’s advertise. A brand isalso defined by consumer’s impression of people who use it, as well as their own

experience.” --David Ogilvy

Aaker’s Model

Brand

Essence

Electronic

Korean

Quality

Extended

Luxurious

Pride

Basic need

Variety

FairPrice

Core



Print Advertise of LG (Life’s Good): -

http://www.lg.com/us/img/about/assets/1215753552403_01_Print%20AD2.jpg






Source:- http://www.lg.com/global/img/about/assets/200908051727.jpg

http://www.lg.com/global/img/about/assets/200908051727.jpg






Source:- http://files.coloribus.com/files/adsarchive/part_1406/14067605/lg-infinite-3d-butterfly-93-36477.jpg

LG: Kapferer’s Prism

Kapferer’s

Prism of LG

(Life’s Good)

Physiques: -Modern, Quality,

Size Premium,Stable Touch

Panel

Personality: -Sophisticated, Modern,

Expert, Responsible.

Culture: -International,

Innovative, Credible,Responsible.

Relationship: -Trusted, Friendly,

Committed.

Self-Image: -Ultra Slim, Clear

Motion, Picture, FullyEntertainment, Luxury.

Reflection: - HighTechnology with

Modern Features,Dynamic Contrast.

http://files.coloribus.com/files/adsarchive/part_1406/14067605/lg-infinite-3d-butterfly-93-36477.jpg








https://reader009.{domain}/reader009/html5/0511/5af571a405622/5af571b31c8c4.jpg

http://saleraja.com/wp-content/uploads/2008/10/sony-bravia1.jpg





Sony Bravia: Kapferer’s Prism

Kapferer’s

Prism of

Sony Bravia

Physiques: -Good Looks,

Quality,

Personality: -Modern, Expert,

Responsible.


Innovative,Credible.Relationship: -

Friendly,

Trusted,

Self-Image: -Fully Entertainment,

Modern.Reflection: - HighDefinition, ExperienceIncredible, Luxurious.



Print Advertise of Samsung:-

http://feedgrowth.com/check-my-bait/magazine-ad/samsung-touch-of-color-magazine-ad-review/








http://files.coloribus.com/files/adsarchive/part_878/8788605/file/samsung-lcd-tv-f7-kill-bill-small-80927.jpg

http://files.coloribus.com/files/adsarchive/part_878/8788555/file/samsung-lcd-tv-led-saw-small-42983.jpg









Samsung : Kapferer’s Prism

Kapferer’s

Prism of

Samsung

Physiques: -Young, Vibrant,

Quality, UltraClear Panel.

Personality: -Modern, Expert,

Responsible.


Credible, EnergyEfficient.

Relationship: -Trusted, First

Preferance.

Self-Image: -Inspired by Art,

Premium Entertainment,Good Features.

Reflection: - LessLayered Image,

Revolutionary inDesign.



Print Advertise for Videocon LCD TV:-

http://www.videoconworld.com/index.php?option=com_content&view=article&id=19&Itemid=22












Videocon : Kapferer’s Prism

Kapferer’s

Prism of

Videocon

Physiques: -

Smart, Vibrant,Quality.

Personality: -Satellite LCD, Eco

Vision, Modern,Expert, Responsible.

Culture: -International,Innovative.

Relationship: -Trusted, User

& Environment

Friendly.

Self-Image: -Spectacular Colour,Fully Entertainment,

Good Features.

Reflection: -High Technology,Revolutionary in

Design.



Perceptual Map:-

Brand Image

Sony Bravia

Conventional LG (Life’s Good) Modern

Videocon

Samsung

Product Benefits (Features)

The map tells us that how high is the company on brand image and features of the product

and how is the modern product on the context of the technology.

Conclusion:-

In conclusion, there is a very bigmarket for LCD’s in India and Abroad

and big competition over there. LG is a brand who has a top market share in this market andstands as one of the best LCD’s seller in Market. It has targeted on Demographic,Geographic, Behavioural and Psychographic Variables. The LG LCD’s has concentrated onmetro cities and the whole market has a big part cover ed with LG’s. LG has a good brand Image and also has quality features that are demanded in the market. LG is alwaysdeveloping the features and models according to market demand and always are modern.



Bibliography:-

http://www.videoconworld.com

www.emtworldwide.com_global_showimage.ashx_Type=Article&ID=23391.mht





https://reader009.{domain}/reader009/html5/0511/5af571a405622/5af571c24a472.jpg


http://files.advertolog.com/files/adsarchive/part_771/7718505/file/bravia-lcd-tv-lipstick-small-81519.jpg

http://4.bp.blogspot.com/_OhHjRVHZ54Q/TVAFaYw1sQI/AAAAAAAAA1M/nI_ApL5eMW4/s1600/phoca_thumb_l_dhoni-at-sony-full-hd-world-cup-press-meet-2.jpg

https://reader009.{domain}/reader009/html5/0511/5af571a405622/5af571c28c35d.jpg






http://www.lg.com/us/index

http://www.videocon.com

http://sony.co.in

http://samsung.com/in/consumer/tv-audio-video/lcd-tv/index

Books:-

Marketing Management by Kotler, keller, Koshy, Jha

Thanks

http://www.videoconworld.com/

































http://www.videocon.com/


http://sony.co.in/

http://sony.co.in/




http://sony.co.in/




















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Marketing Management IGNOU