The Marketing and Branding Strategy of LG
LG is a global technology brand that aims to enrich people’s lives through the use of technology. It’s brand slogan is “Life’s Good”. The brand defines itself as a smart brand that believes in bringing surprising delights for the customers. The Life’s Good slogan is also represented in its logo which is a red circle with the letters L and G inscribed in it. Its philosophy is to connect with humanity. Its logo symbolizes four things – world, future, youth, humanity and technology. The logo also represents LG’s connection with the humanity globally.
In its branding strategy, LG has focused on creating a strong and differentiated brand identity. Its connection with humanity is visible in the smiling and delighted human face at the center of the unique logo. There are two versions of the LG logo – one is the corporate version and the other is 3d version. The corporate logo is found on the stationary items, Office templates, awards, badges and corporate signs. The 3d logo on the other hand is found on advertisements, website, microsites, promotional literature, packaging, retail signs and POPs, shopping bags and service vehicles.
In the recent days, LG has also updated its positioning strategy and its brand image to a smarter brand with a smarter face. The new face of LG is technologically smarter, like the products it has brought to the market. Its products are smarter plus priced competitively. Apart from quality, the brand’s pricing strategy is also a critical part of its marketing strategy. LG is a futuristic brand, focused on innovative technology, bringing great and unique products to the market and invested in creating a great brand dedicated to the humanity.
LG creates a variety of products from home appliances and air solutions to mobile communications, home entertainment and vehicle components. It is among the leading producers of flat panel TVs, washing machines, refrigerators and a variety of electronic home appliances.
LG has positioned itself as a smart and customer friendly brand. Apart from that, the focus is on reliability where LG always tries to provide its customers with products that are safe and valuable. A chief focus of the brand is quality. The ‘Life’s Good’ branding strategy has helped it create unique value for its customers globally. It is working on making people’s life good and safe. In the recent years, LG has focused sharply on increasing its presence and penetration in the Asian markets.
It has brought an array of products to the market, that are not just smarter but also distinctively intuitive. In this way, LG has been able to update its brand image to that of a Lifestyle brand that brings additional comfort and fun to people’s lives. From curved televisions to new models of washing machines, all of them have been created with a focus on people’s lifestyle needs.
LG focuses heavily on marketing and spends a large amount on advertising. It advertises its products through several channels including the traditional and digital channels. It advertises its brand in print channels, online, on the television and outdoors. Apart from that it uses websites and micro-websites dedicated to the regional markets through which it markets its brands. Its website provides information on the products strategy and other various aspects of its business operations. In print, LG advertises through magazines, newspapers and other several channels of publication.
Apart from that LG also makes use of social media for advertising and marketing. In order to better market its brand and create a unique brand identity, it has focused on connecting with customers. From various channels it focuses on collecting feedback from them and using it to improve its brand strategy and experience.
By focusing on quality, design, customer value and several other aspects, the brand has been able to create a unique image. In the recent period, the brand has also seen sharper growth based on innovation. Most of its new products are marketed through online videos. The brand has posted more than 500 videos on YouTube that show LG products adding ‘lifestyle value’ to customers’ lives. LG has uploaded a variety of videos that showcase its stylish products and the benefits they provide.
Several of its videos are highly informative and inform about the products’ features and advantages. V20 to G5, Xseries and several other models are highlighted on the YouTube. LG also uses Twitter for advertising and for deepening its customer connection. The brand has more than 286K followers on Twitter. After Twitter and Facebook, the brand has also used other social media channels for marketing and advertising. LG has placed strong focus on marketing plus customer engagement and retention.