LG TO INVEST RS 360 CRORE IN BRAND RESTRUCTURING

New Delhi, August 11, 2008
The Economic Times Financial Chronicle

Korean consumer durables maker LG Electronics will spend Rs 360 crore in brand repositioning exercise this year, a senior company official said.

"Our main focus will be on brand communication and brand experience...we will be investing around Rs 360 crore in this," LG Electronics Director (sales & marketing) V Ramachandran told PTI.

With the new approach, LG is looking at making the brand quality oriented with a premium positioning, while reinforcing customer care services.

"The priority will be on premium products for providing stylish designs and smart technologies to consumers," Ramachandran said.

He said about 60-65 percent of the advertisements would be through electronic media and rest through print media.

To augment the new brand positioning exercise, the company is also planning to expand its product portfolio, which would include purifiers in-built kitchen among others.

It is also emphasising on high-end products like LCD, Plazma TV, mobile handset and laptop to achieve around 20 percent growth this year to take its topline to Rs 11,500 crore.