LG SWOT Analysis
LG is one of the leading brands in the consumer electronics sector. LG SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of LG:
Quick Glance:
LG Strengths
- Wide range of products to serve all categories and a strong focus on technology and quality
- Effective localization of product offerings for growth markets like India, Brazil, China
- Brand offers sound rational appeal – good product features and good value for money
- Good after sales service and wide distribution network
- Subsidiaries enjoy independence in decision making and hence have flexibility in adapting to the local market
- Sponsorship of sports and entertainment events enhances visibility
- It has nearly 100,000 employees and is one of the top mobile manufacturers
Above are the strengths in the SWOT Analysis of LG. The strengths of LG looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
LG Weaknesses
- Brand lacks influence in the opinionated segment of early adopters especially in the social media environment
- Brand has limited market share compared to market leaders
These were the weaknesses in the LG SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
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LG Opportunities
- Fast growth of home appliances, electronics goods market in emerging economies
- Convert improved brand image and awareness in to market share
- Increase the already Wide product portfolio
Above we covered the opportunities in LG SWOT Analysis. The opportunities for any brand can include prospects of future growth.
LG Threats
- Price war with close Korean competitors like Samsung can disrupt growth in price sensitive markets
- Highly competitive industry dynamics
- Stagnant urban demand
- Instances of false green claims can erode brand value and consumer trust
The threats in the SWOT Analysis of LG are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
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Hence this concludes the LG SWOT analysis.
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About LG
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| LG Overview | |
|---|---|
| Parent Company |
LG Group |
| Category |
Home Appliances |
| Sector | |
| Tagline/ Slogan |
Life’s Good |
| USP |
Innovative Technologies and Cutting edge Designs; Health (in Indian Consumer Durables Market) |
| LG STP | |
| Segmentation |
Mobile Communications, Home Entertainment, Home Appliances, Air Conditioning, and Energy Solutions |
| Target Market |
Consumer Durables: Currently mass market, efforts are on to shift to a more premium segment Mobile Phones: Youth/Generation |
| Positioning |
Technology that offers you more and sets you free |
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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