Introduction
Organizations are made to earn economic profit from different angles, and it could be done with the help of effective strategies and mitigating the cost accordingly. The organization has been termed as a place in which there are a numbers of departments working together and among them; the name of the marketing department is one of them. The marketing department is one of the most important and effective departments from the viewpoint of the organization, as it used to market the products or services of the company in front of the consumers. There are a number of marketing based tools which are essential for a company in particular (Jayachandran, p. 34). The main perspective of this assignment is to research on some given products in particular and apply the marketing based techniques over different brands accordingly in order to analyze the brand based information. There are four different marketing models which are essential to cover in this particular assignment. There is a survey attached in this particular analysis and primary research based approach has been used in this analysis, in which a questionnaire has been made and then distributed among the respondents to get their answers accordingly.
Analytical Framework
There are numerous provisions which are important for this particular assignment. The brand which has been supposed in this particular analysis is LG G2
Current Market Situation
The brand that has been selected for the same is LG G2. LG G2 is an Android smartphone developed by LG Electronics. Serving as a successor to 2012's Optimus G and the 2013 Optimus G Pro phablet, the G2 was unveiled at a press event in New York City on August 7, 2013, and first released in September 2013. The brand has been introduced in the market of United Arab Emirates (UAE) in the late 19th century. The product lines of the company that is found in the UAE are mobile phones, mobile computers and networks. All of these products are highly effective in the market of Dubai. There are 54 respondents have been selected for the analysis, and mentioned below result has been found
The proportion of consumption of Nokia according to the survey is quite low in the market of the UAE, as only 3% of the respondents are using Nokia, while IPHONE has the largest proportion in terms of consumption with a net proportion of 54% while Samsung is in 2nd position with a net proportion of 18.52% in particular.
The organizations that market the brands of the company are different because LG G2 is an effective item and the credibility of this particular brand is high. Therefore, that is the main reason why number of companies are selling the brands of LG G2 and among them, the name of Sharaf DG is one of them, and is considered as one of the largest retailers of electronic items. The date of establishment in the market is in late 90s. The basic strength of LG G2 is its affordability while the biggest weakness of the company is that it is losing its potential in the Android phone market as compared to the market of Samsung and I-Phone.
Marketing environment is one of the most important to judge the financial position of the organization, and there are certain macroeconomic factors which deem essential for the sake of an organization (Alan Zimmerman, p. 23). The marketing environment of the UAE is perfect which is also in a good position for LG G2 Inc. The biggest factor lies in the market of UAE in terms of consuming a mobile phone is Camera and the statistics of the same is mentioned below
The results of the cameras of LG G2 are good and powerful but not as powerful as Apple and Samsung. Apart from that, Design, Long Lasting Battery and High Quality sound are some of the major aspects which are essential for the company.
Market Description
Market Description is an important thing from the viewpoint of the organization and with the help of effective market orientation, companies would become economically active and effective. The market of the Mobile phone is extremely high in the market of the United Arab Emirates and in Dubai, as well. Demand of mid and high priced smart phones remained strong in the year 2013. Sales of Samsung Galaxy and S-Series of the company are growing; however the market of LG G2 is also increasing tremendously well. LG G2 Corporation retained the lead in the feature phone market till the year 2012 with a market share of 46% in particular. The market share of the mobile phones found in the Dubai market is mentioned below in the chart format
Calls and utilizing the social media are the most dominating factor for which people buy mobile phones in particular. The size of the market of LG G2 is high and it will certainly grow effectively in the future as well. The customer trends are effective for an organization and it is also effective for the sake of the organization in the market of Dubai as well. The essence of consumption of the people of Dubai is quite high, and they have the highest per capita income and consumption power as well from which they can consume the products in higher concession and effectively (Stevens, p. 12). The current needs and wants of the people of Dubai are changing quite rapidly. The above mentioned chart is describing the same as most of the people are consuming the mobile phones for Social Media utilization and Internet browsing other than that of making calls. Short Messaging Services (SMS) and Taking pictures are some other features as well due to which the people consumer the products with higher concession. 26 of the respondents answered that they have consumed the items due to capture pictures, and the result of the camera is good.
Market Segments
Segmentation is an important provision from the viewpoint of the organization and with the help of effective strategies organizations would distribute the products accordingly. The market segments have been distributed into different fields and according to the age of the people . The products in which the company is having its operations are mobile phones, Android Phones and Internet Connection devices as well. Most of the markets of the company are single people and the graph of the same is mentioned below
Nearly 80% of the people who consume LG G2 are Single, while the rests of them are married, and the segment of the market has been defined and distributed in the same vision. The company has to increase the segments and should cover old age people in the same format, as well. There are a number of people who are using the products of LG G2 for more than 8 years that reflects clear indication of the effectiveness of LG G2’s market. Mentioned below figure is showing the same
The people who are using LG G2 for more than 8 years are on the top while people using it since 5 to 6 years are on the second place. It is done on the basis of brand credibility of the company that is extremely high and effective, and LG G2 has the power to do the same in particular.
Marketing Opportunities
The market of Mobile phone consumption is increasing heavily in all over the world with effectual and among them; the name of Dubai is one of them, in which the level of consumption of the mobile phones is extremely high and powerful. The market information on LG G2 as well as of Dubai is perfect, and very well organized which is more than enough for the company to present the fact that the company has effective market orientation in particular (Edward, p. 31). The company has to expand its market and its products in order to become economically active. From the above mentioned analysis, it is found that people would try to consume the products of LG G2 on the basis of user friendly features and affordability; however the company has to increase the financial belongings by attracting more and more people in particular. The company has to increase the segment accordingly in order to strengthen its position further in the market. The new product line should be added by the company to become perfect in the given market. The arrival of Android phone and Smart Phones are some of the major things which could be used for the same analysis. The company can also enhance the strategic alliance of the company by increasing its market expansion grid, and it would be extremely vital for their future consequences as well as needs.
Conclusion
In order to effectively increase the financial belongings and strategic capabilities of an organization consideration of the things are more than important for them. It is observed that organizations always made to earn economic profit with the help of effective strategies and among those strategies, the essence of management and delivering the things are most important. The main perspective of this assignment is to research on some given products in particular and apply the marketing based techniques over different brands accordingly in order to analyze the brand based information. From the entire analysis, it is found that the LG G2 brand is doing an effective job in the market of Dubai, and it will remain in the same jurisdiction.
Woks Cited
Alan Zimmerman, Jim Blythe. Business to Business Marketing Management: A Global Perspective: A Global Perspective. New york: Routledge, 2013.
Little Edward. Relationship Marketing Management. Perth: Cengage Learning EMEA, 2003.
Jayachandran, S. Marketing Management. Delhi: Excel Books India, 2004.
Michael Hutt, Thomas Speh. Business Marketing Management. Chicago: Cengage Learning, 2012.
Stevens, Robert E. Marketing Management: Text and Cases. London: Routledge, 2012.
