LG Electronics - From Home Appliances to Brand Leadership
In the fast-changing world of consumer electronics, LG has become a standout, captivating audience worldwide with its innovative products and compelling brand identity. What are the key factors driving LG's remarkable success?
At a glance
Origin
South Korea
Established
1958
Revenue
US$ 64 billion
(as of December 2023)
Number of Employees
75,000+
(as of December 2023)
Introduction
In the fast-changing world of business, brands matter more than ever. Companies now understand that their brand is key to staying successful and profitable in the long run. Products and services are no longer perceived merely as commodities; rather, they embody the essence of a company – its values, identity, and promise to consumers.
Brand management has emerged as a cornerstone of modern business strategy, particularly in light of consumers' growing preference for established brands. While some companies pivot their communication strategies frequently, others adhere steadfastly to a consistent approach. Remarkably, consumers and stakeholders alike gravitate towards organizations that convey clarity and consistency in their messaging.
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(1) Regarding Case Study Content: This case study is based mainly on secondary data and analysis of publicly available information unless otherwise stated, and is intended solely for educational purposes. Any opinions expressed by the author(s) are designed to facilitate learning discussion and do not serve to illustrate the effectiveness of the company. Additionally, banner images and logos used in the case study are intended for visualization in an educational setting and it is not used to represent or brand the company. For any dispute regarding the content and usage of images and logos, please contact the team.
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