Market Research Promotional Strategy for LG Electronics Essay

Market Research Promotional Strategy for LG Electronics - Essay ExampleThe development of strategical plans oecumenical is based on specific criteria. Most usually, the targets set sop up to be feasible in basis of the resources and the time required while the potential failures need to be identified in advance in order to ensure the limitation of failures. On the separate hand, not all organizational initiatives have the homogeneous characteristics when the achievement of specific targets is attempted then the methods used have to be c atomic number 18fully chosen a balance between the cost of a specific strategic project and the expected benefits of this project mustiness be pursued by managers in modern organizations. Current paper focuses on the examination of the strategic plans required for the increase of the market share of the blind drunk LG in a particular sector the televisions and audiovideo equipment. The firms current pricing strategy is reviewed and evaluate d in order to decide on the appropriate of the trade plans used in relation with the specific marketing plan. It seems that the achievement of the specific target is feasible only specific measures will be required especially if taking into account the position of the firms competitors but also the challenges of the specific industry in all markets internationally.LG Electronics was first established in 1958 to a lower place the name GoldStar. Since the decade of 1960s the firm was actively involved in the production of radios and televisions also of another(prenominal) products like the air conditioners. In 1995 the firm was renamed to LG Electronics. Through the years the firm was involved in other sectors, like the telecommunications while its performance is under continuous development (see Figure 1, Appendix). Currently, the firms employees have been estimated to 82,000 working in about 82 branches of the firm worldwide. The firms achievements in its industry are many. We could indicatively refer to the development of the first