LG ELECTRONICS CANADA, INC. –THE WATCH PHONE Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

LG ELECTRONICS CANADA, INC. –THE WATCH PHONE Case Solution

Company Overview

LG is one of the leading consumer electronic brands that provides its customers high-quality electronic devices which include manufacturing devices and the communication devices. Moreover, the company started its first operations in 1958 with the name of GoldStar. In addition, GoldStar was the marketing and sales partner in the Korean market and also manufactured electronic devices which include refrigerators, washing machines, televisions, and air conditions. However, the company renamed its company with the name of LG electronics as well as it acquired Zenith, an American company. LG was the first company which launched its first plasma TV in 1994 as well as commercialize 100 inch LCD TV in 1995. From the past decades, the company also formed the joint venture with the Philips Company and known as an LG Philips LCD. On the other hand, in 2009, the company expanded its operations in 82 countries and hired approximately 82000 peoples around the worlds. During this period, the company generated a total revenue of 27638 Won, which is equivalent to US$ 22 billion. Moreover, the company also earned a profit of 483 won or closely US$389 million.

The company launched its successful LG watch phones in Europe after achieving great success in this market. The marketing manager of the company decided that the company wouldlaunch its LG Watch Phones in the Canadian market. He also stated that with the product of LG Watch Phones, the company would achievehigh success in the market as well as maintain brand equity in the market by increasing its market share in the consumer electronics. Moreover, the marketing plan of the company is cater to the niche market as the Canadian market is saturated and currently no other watch phone device is available for customers in Canada. The company decided that itwill convince the customers to switch the hand set and adopt the latest LG watch phone services that provide customers a unique facilities that other device does not have. It is also expected if the company launches this brand new product in the Canadian market, then it would easily generate more profit and sales for the company that not only help the company in improving its market position in the market as well as assist the company in competing its competitors. Furthermore, the company stated that the potential customers for this brand new product will be Baby Boomers, Gen Xers and older Gen Yers especially whose ages from 25 to 50.

In today's business Dynamics, the demand for technology is increasing everywhere which has createdintense competition among the companies as well as generated more pressure in the companies to bring innovation in its products through that they can easily convince the customers as well as increase brand loyalty among the customers and compete its competitors' products by its innovative technologies. The top players of the portable electronic device areMotorola, Nokia, Samsung, LG, Apple, and Sony. These companies provide infrastructure service to the customer which include advance technological facilities such as WIFI and 3G, which is mostly readily available in its brands or products.

PROBLEM STATEMENT

The company faced many issues in the electronic device market. The main problems that the company faced is to convince the customers to buy the LG watch phone and switch its handsets to LG watches. The company also analyzed the products’ competition in the market and after analyzing the product competition, the company evaluated that currently no other brand available in the Canadian market that offers watch phones to the customers. The main idea of the company was to convince the customers to buy its innovative electronic devices which include all the feature that satisfy the needs of the customers as well as to attract the new markets............

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