LG Electronics’ is the intercontinental Company which has a range of industrialized Units and sources. The company focus the international market for his product .the political environment nothing but how the law and government taxation policy influence an organization .There is a lot of political interaction has integrated in this business and it has operated between the political and legal factors. This factor may increase the cost of factor some time it decrease the product cost. The LG electronics facing lots of problem while its production and exporting goods to the overseas.
Economic Analysis:
LG has a very big competitive market in world and it have constant development in their innovation in electronics equipment , secondary products, planned process of LG etc.. it have leads to sell goods to other countries . The LG contribute the world wide STOCK MARKET and money market also. The LG have well and strong economic source and it has capable of introduce some new technology to the electronic market. LG leads the electronics market with enormous technology and economic resource. The below the table shows the financial highlight of LG electronics. The sale of the company is constantly increase the last seven year it possible by the good economic status
The LG has introduce the product with satisfy the customer needs as well as safer environment. The product wont harmful to the environment and people .The LG try to produce green environment that mean it reduce the emission of Gases from their industries and product .The LG mostly use the renewable energy source because safer environment.
Technological Analysis:
The LG has more technology shock towards its electronics product. In every manufactured goods in LG they improve their technology and they became a first world exporter of the country. The LG has a huge technology like LCD, plasma TV, Games and, Laptops,Videos, CDMA Mobile phones with a number of features. The challenger cant beat its clear imagery their technology towards its innovation of product. The 3D Plasma TV , Camera with massive features like clear images and slide activities, high battery etc..
The LG introduce lots of new technology to the digital world such as This business group has entitled more quality product and services to the customer. it has introduced lot of technology in every business group of product. Recently the LG has introduced 3k model of Camera which has lot facilities and clear images. It is a exiting product to the market. and also the company has introduced more innovative product like 3D products, professional cameras, Blue ray Disk, increasing network services etc.. The LG has lead its technology and it introduce number of products with exclusive features to the market.
Socio-cultural Analysis:
LG Corp has introduced the number of product to the different customer into the society. Mainly it has introduced for easy usage with several option of different user. It has introduced to the delighting product to the customer. The LG product such as laptop, various electrical products, mobile devices, ipod, ipad, financial services, network system etc. So it has changing life style of the LG user. LG increase its ethical standard contributes in Research and development and health of the organisation. It also leads to image of the country.
LG creates its employment opportunity: After the 2009 the LG has creates a more product services and sales growth. It improve its manufacturing process to various countries. So it creates a employment opportunity to the country. it develop career expectation to the people and they able to recruit a more number of peoples and it leads to employment opportunity and life style changes of the people. LG product has a number of user form 6 years to 60 years of the people. So in every generation it creates a lot of life changes and life expectancies of the product.
LG’s New Customer and New Geographies:
At presently, LG has concentrated the end user of its consumer. The Company has introduced lot of technologies and it has followed by their competitor. The LG has analysis in a different perspective of different customer. Based on the experience of the consumer the product has developed. It has developed not only by the technology impact, it also based on the usage of customer. The company also reinvest into their retail sales to various countries. It leads to improve customer contact and to get a feed back about the product directly. LG “Make believe” the brand image has increased its lot of brand image of the product. The new customers are increased into the market and it has increased more geographic are in retail market.
Future Market:
LG has increased its various technologies and various marketing strategy to capture the future market. LG product has easier product and it has so much of coverage in the world. If the company has to leads its competitive markets means, it must increase its capability of marketing strategy and best customer services than the competitor. In future it has increased play station network and it has increased its core value, games and videos etc. The market has in wide area and it must cover whole classes of people. So day by day it has increased its technology upgradation and cost price movements. Then only it will able to sustain its sales growth in future market. LG has separated as a three business groups and it increased its more strategy towards its business. It increase more products and services like, deploy LG online services for the network infrastructure. And also it has increase the network product