World’s thinnest phone
- LG Electronics Inc. released new black label phone. Many customers are really looking forward to seeing new LG’s new model and expecting its good performances and conveniences.
*Differentiation(Competitiveness) of LG’s New phone
: To win among many industry markets competition, differentiation is one of the best strategies. To get customers attention and make them to buy our company’s product, it is necessarily to have strengths that are remarkably outstanding compare to any other company. That way we can produce lots of profit by appealing at least to certain customers who considers good quality and performance most. In this point LG’s unique ‘handset design’ is good enough to generate a lot of profit in the future.
* Research & Development
: This awesome product “LG’s new black label phone” is outcome of well-done research and development. To make preexistent product better, we should research markets, sales-forces, customer-segmentation, economic trend and so forth. Through these procedures we can upgrade or innovate a product.
* Modification
: LG’s new cell-phone, black label phone is third series after Chocolate, Shine phone which generated lots of profits before. Main concept and components of this new phone are almost same with pre-model; Chocolate, Shine phone. However, LG Electronics Inc. made a little change to it and released it as a new model; it added more high quality and slimmest 5 mega-pixel camera. Most of customers might not recognize it clearly and 100% trust on the new product thinking this is better one since new. This is showing how powerful and important to modify preexistent product and actually release it. Though this, we can save money and needless to say, and generate lots of profit.
* LG’s targeting overseas markets
: LG Electronics Inc. has targeted Europe market first(it will be launched in Europe on April 24) and later is will go around to the rest of the world. Targeting overseas markets will bring lots of profits especially in case of cell-phone product. Because foreign cell-phone markets is not developed yet like Korean markets. Therefore our product might be so competitive. In addition, it is also price-competitive. Moreover, if this product is so successful in overseas markets, it will get lots of good reputation to Koreans and it will naturally be sold a lot when the product comes in Korea. This is another good benefit. In these reasons, LG’s ‘first targeting overseas’ choice is good strategy.
*Differentiation(Competitiveness) of LG’s New phone
: To win among many industry markets competition, differentiation is one of the best strategies. To get customers attention and make them to buy our company’s product, it is necessarily to have strengths that are remarkably outstanding compare to any other company. That way we can produce lots of profit by appealing at least to certain customers who considers good quality and performance most. In this point LG’s unique ‘handset design’ is good enough to generate a lot of profit in the future.
* Research & Development
: This awesome product “LG’s new black label phone” is outcome of well-done research and development. To make preexistent product better, we should research markets, sales-forces, customer-segmentation, economic trend and so forth. Through these procedures we can upgrade or innovate a product.
* Modification
: LG’s new cell-phone, black label phone is third series after Chocolate, Shine phone which generated lots of profits before. Main concept and components of this new phone are almost same with pre-model; Chocolate, Shine phone. However, LG Electronics Inc. made a little change to it and released it as a new model; it added more high quality and slimmest 5 mega-pixel camera. Most of customers might not recognize it clearly and 100% trust on the new product thinking this is better one since new. This is showing how powerful and important to modify preexistent product and actually release it. Though this, we can save money and needless to say, and generate lots of profit.
* LG’s targeting overseas markets
: LG Electronics Inc. has targeted Europe market first(it will be launched in Europe on April 24) and later is will go around to the rest of the world. Targeting overseas markets will bring lots of profits especially in case of cell-phone product. Because foreign cell-phone markets is not developed yet like Korean markets. Therefore our product might be so competitive. In addition, it is also price-competitive. Moreover, if this product is so successful in overseas markets, it will get lots of good reputation to Koreans and it will naturally be sold a lot when the product comes in Korea. This is another good benefit. In these reasons, LG’s ‘first targeting overseas’ choice is good strategy.
Reference:
http://nexus404.com/Blog/2008/04/06/new-lg-black-label-cell-phone-lg-promises-the-worlds-thinnest-5mp-camera-phone/
http://mobile.dpszone.com/the-third-lg-black-label-phone/
http://www.koreaherald.co.kr/
Student NO.: 20601016
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