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LG promotes Thai image |
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LG Electronics (Thailand) Co will upgrade its image into a stylish and sophisticated brand as part of its plan to become the largest electrical brand in Asia over the next four years. The move is also part of LG's South Korean parent firm to be among the world's top three electrical and consumer electronics brands in 2010, up from fourth or fifth ranking at present. Woody Nam, president and CEO for Asia, said during his visit to Thailand yesterday that the company would use a wider variety of marketing strategies to reach consumers, particularly in Thailand, Vietnam and Indonesia. ''Thailand is the most significant market for LG because it is the gateway to Indochina. We aim to become the second-largest electrical appliance brand in Thailand in 2010 and the market leader in 2012, with a market share of about 25-30%,'' he said. To achieve the goal in the Thai market, LG plans to increase its brand awareness of electrical appliances by 50%. Now, about 50% of Thai consumers know the brand, compared to over 80% in India. Mr. Nam said the company had introduced entertainment marketing in other countries including Malaysia and that the response was encouraging. He added that the marketing had substantially increased LG brand awareness.
Currently, LG is ranked No. 1 or 2 in the Indian market, with a market
share of 25% to 30%, depending on the product. It commands a 15-20%
share in Australia and 20% in Indonesia. For Thailand, LG is ranked No.
3, with a 25% share in washing machines, 48% in microwave ovens and 32%
in plasma display panel products.
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Bangkok Post, 03.06.2008 |
