Lg has been a notable competitor in the smart phone market for a long time. But it has never made an impact in the market like other manufacturers all these years. However, last year onwards, LG has been able to capture a small portion of the market with their Optimus lineup and with the launch of the Optimus G series, the company aims to gain some more share in the industry.
As the company’s vice president states, Lg finally started making competitive products last year which were unique and better than other competitors in the market. And the company wants to capitalize on this new optimus G series which is its flagship lineup to compete with other products and increase its market share.
But even if the company has a better smart phone lineup in the industry, only proper marketing techniques and selling strategies will help them boost their sales. Marketing strategy is one of the key aspects in smart phones sales and one of the best examples around is Samsung. The marketing technique used to promote the galaxy lineup was unique and effective which helped them gain sales.
LG is finally learning something from its competitors and plans to expand its retail stores in emerging markets. The company currently has over 3000 stores all across the world and plans to set up 600 more stores in the coming months. The shops will be known as LG Brand shops and will showcase LG smartphones and other products in emerging markets like India, middle east etc.
Having a retail chain where a customer can go ahead and have hands on with the company’s products is quite essential these days. Competitors like Samsung are already working on setting up their experience shops all around the world to give their customers a unique galaxy experience. With the market flooded with hundreds of options at a price point, giving customers a feel of the products will definitely help the company’s sales and hence setting up such stores might be a smart move by LG.
However, we hope that this strategy is a just part of the plan as the sales would get a boost only when the company reaches out to all markets especially giant markets like US, Europe. Apple, Samsung already dominate those markets and if LG manages to grab even a small portion of their market share then the strategy can be said to be successful.
Moreover, smartphone sales will boost other product sales of the company. Nowadays, a brand image of the company depends upon the quality and the features provided by their smartphones. For e.g. even if LG TVs maybe better than Samsung TVs, people who use Samsung smartphones or like the brand name would naturally prefer Samsung products over LG products. Hence, we can safely say that a boost in the sales of the company’s smartphones would naturally boost the sales of the company’s other products.