Introduction
Life’s Good is an electronics multinational company that is based in South Korea. It has a workforce of over eighty-two thousand employees spanned all over the globe. LG is driven by constant innovation in cutting edge technologies (Shah, et al. 13). It faces competition from stiff rivals like Samsung and Apple. The main lines of production of the company are in home entertainment, mobile technologies and electrical appliances used at home. Also, it is involved in the production of vehicle components.
The LG Technological Mirror
The report is a cognitive overview of a marketing plan that is meant to increase the sales of the LG technological mirror. It also aims at increasing the acceptance and usage of the outstanding innovation across Dubai in the next two years. The mirror is an exquisite piece of innovation that allows the user to access all the features of a smartphone on the mirrored display. It can scan through the body of the user and decide whether his or her outfits are appropriate. It is highly polished and attractive with built-in multi-touch technologies allowing one to synchronize his work schedule. You can read emails or communicate with other people trough video calls. The company says that the new technology can find use in medical consultations and business ads. Dubai is a technological city that fancies the application of top-notch innovations in its building’s architecture, transport, and communication.
Factors Influencing Demand and Supply
Some of the factors that will influence the demand of the product include; One is the need for efficient communication. The fifty-five inch display screen can help in teleconferencing. Most of the business heads in the city will reduce their traveling expenditure. Secondly, there is a lot of technological improvement in the medical sector. Health experts in Dubai need to give faster services to their clients by preventing the need for long queues. Also, the world is quickly adopting a smart life whereby the lifestyle of an individual can simply get managed from the palms of the hand. Lastly, there has always been a demand for LG products because of their versatility, comfort, and high performance. LG is a reputable company and will therefore, attract a positive response.
Timing and Budget Section
The product will be launched in the country’s capital in that last quarter of the year. Several of the mirrors will be installed in potential buyers’ premises for better demonstrations. The Public relation services will span to the end of the year. It will involve an intensified emancipation of the public on the new product. At the beginning of the following year, most of the top companies will have employed the use of the mirror. I will request several shopping malls to incorporate the display so that customers will not have to physical contact all the products that they need to buy from the shop. As hinted earlier, the mirror allows the person using it to identify himself within seconds by detecting every single bit of the body. It can put some of the products like clothes on the display so that the customer can interact with it. Most of the target business empires in Dubai close their financial years in the middle of the year (Nasr, 32). The promotion duration will give them an open avenue for the consideration of our mirror services. I will set aside five hundred thousand dollars to facilitate the promotional services in the given duration. For detailed and more appealing advert
The picture below can be used in the adverts.
Conclusion
In a summary, it is important to the company involves in active marketing and promotion to attract more sales and consequently, earn more revenues. With all the marketing strategies put in place, the product will succeed in attracting more users.
Works Cited
Shah, Fida Hussain, Tahira Nazir, and Khalid Zaman. "Brand Analysis Of Lg Electronics: A Case Study." Oeconomics of Knowledge 5.2 (2013): 13.
Nasr, Seyyed Vali Reza. Forces of fortune: The rise of the new Muslim middle class and what it will mean for our world. Simon and Schuster, 2009.
