Promotional and Advertising Strategies Assignment

Promotional and Advertising St evaluategies - Assignment ExampleIn this volatile market it is necessary for each of these companies to come up with unique marketing strategies, these strategies play a vital role in brand building and differentiating one connection from its competitors. The paper discusses the major marketing, pricing, and consumer oriented promotional strategies for the twain most aggressive players in the television market Samsung and LG. (Briel, 2014)It is observed that both LG and Samsung have effectively utilized all the 4Ps of marketing mix. Both the players are almost running head to head in the television market with Samsung being a flyspeck ahead of LG. However, according to Korean Times LG has recorded higher sales of its reapings especially television sets in the Indian market as compared to Samsung. This is due to two very different marketing approaches used by each of these companies. Indian market is largely dominated by rural areas, among the tota l population of 1.1 gazillion people, 200 million people live in deserted, rural areas which means they are naturally poor and cannot afford very expensive television sets. In such situation Samsung decided to target the elite sector of the market, mainly due to two reasons. Firstly, it realizes that India is one of the emerging markets around the world and selling its product at a premium rate would increase its probability of succeeding in such a market. Secondly, selling the products at a premium rate is always good for a brand in the long term to establish itself as the global premium brand. In the other hand LG, some other Korean giant company, has clearly adopted the market penetration strategy in Indian market. LG sells its television sets comparatively at a lower monetary value to provide an access to the richer segments as well as to those with lower income. Like Samsung, LG imports premium products from Korea but increasingly