Marketing Management in Action: A Case Study of LG OLED TV

This report discusses the experience of purchasing and using LG OLED TV, applying relevant marketing theories, and strategic implications for marketing professionals. It also provides a critical analysis of self-reflection and the selection of marketing theories.

Marketing
Management in
Action

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Description of experience - ........................................................................................................1
critical analysis of self reflection - .............................................................................................2
Selection of relevant Marketing theories....................................................................................3
Application of Marketing theories..............................................................................................4
Strategic implications to marketing professionals......................................................................4
CONCLUSION ...............................................................................................................................4
REFRENCES ..................................................................................................................................4

INTRODUCTION
Marketing management is the process of managing the marketing factors, setting the
objectives of a company, processing the strategy step by step, taking decision for the
company and execution them to get the high turn over ratio by reaching the users demands.
It focuses on creating, planning, and executing policies that will assist attaining broad aims.
These business objectives can involve raising brand awareness, boosting profits or entering
earlier in untapped market (Garip, Oğur, and Çelik, 2021) . Its offers a standard marketing
management , design and execution of marketing events and activities that determines the
length and freedom of the company surroundings. This assist in understanding the market
needs and customer desires in order to fulfil them. It is essential due to carrying out and
engaging with capable users is a important factors of a business strategy. It ensures person
to understand customer demands . It consist a broad range of methods, strategies and process
which is required to be coordinated impressively to ensure objectives. It is created in order
to assist the total marketing strategy of a business. Moreover it includes the to all
objectives the organisation has with regards to carrying users and marketing includes
making a marketing strategy to reach to goals and utilising a range of tools to ensures
success is attained. This report will explain about the description of purchased goods. This
report is based on LG products that is used and share the experience of using these goods.
MAIN BODY
Before buying anything person thinks and explore as well they compare through prices and
facilities. So before investing on big item or luxury item individual check the reviews of
people on websites and social media pages along with this they also go through the experienced
person so that they can have the live experience by the words of them.
Description of experience -
LG corporation is the Korean company which deals in varied electric items. It is
serves services in global reach. The brand was founded in 1947, it was established by koo in
hwoi. As I want to buy a smart multi media TV, so I explored many stores and brand . After
analysing all places and reviews I planned to buy a LG OLED, TV which cost to me of
2075 euros. which is 65 inches screen, it is wide and smart with different services just ad it
supports Netflix, prime videos, zee 5, voot and many other application that is connected with
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web. It directly connects with internet and start online programs. It presents a HD display that
protects the eyes and provides a clear image on screen. Some more things that product consist
as.
1. resolution – 4 k ultra HD
2. Connectivity - 3 HDMI ports to connect dish tv box, blu ray players , gaming console,
2 USB ports to connect hard drives and other USB devices.
3. Sound - 20 watts output , 2.0 speaker, acoustic tuning.
4. Smart TV functions – connects with goggle, alexa, apple airplay as well as it has the
quality of adapting game. Eye comfort display.
5. Warranty details – the manufacturer provides the 3 years warranty card from the date of
purchasing.
Whereas, it consist a more services . After delivery the boy has come and installed all the
function as well as make me understand about the features of this smart TV. The manufactures
has provided the guarantee for 3 years with extra services. They also provided me a EMI
system for 12 months which is affordable for me (Rolff, and et.al., 2019) .
critical analysis of self reflection -
As technology is changing rapidly, so it is important to go with the flow, so as earlier
black and white TV was so popular as time change the that changed in colourful TV than it
modified as digital TV which consist a HD display and now it changes as led TV, so I decided
to buy a smart digital TV with long display. So I planned to buy a smart tv from LG store.
Model LG OLED with 65 inches display and having a many benefits as well as. Initially I paid
a down payment on it after I decided to pay the remaining amount through EMI of 12 month.
After getting a product I have experienced negative positive both factors. It Is beneficial for
me to access many channels easily, can listen music any kind of music. Kids can play the games
it act like play station along with that I can also watch movies and videos shows in good
quality. It connects with phones and web easily so it makes an easy path for me and family
members to have a classes on big screen. Also it has the safe screen light that didn't hit the eyes
in risky way. It is safe for kids too who watches television too much. On other side I have
experience some destructive factors too just as, smart functionality needs a suitable
interface. Smartphones has both functions typing an pointing . Whereas smart multimedia TV
are terrible at both and this can lead to a lot of irritation. I had analysed that it can also get
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hacked easily by the use of webcam on television to search out whether person have
anything worthy that can be steal. They try to keep updated all the system and software but
somewhere some apps didn't get updation that causes an issues while watching channels and
programs. Although by purchasing this television I have got a good and bad experience both
but I am satisfied with the services of the company and they also treat well with there users in
order to make them a loyal users (Hemmati, 2020) .
Selection of relevant Marketing theories
Marketing is interactional process is consist some marketing theories that makes the
operations more easy and systematic for company to making a decisions and strategy. Here re
some marketing theories which is listed in below -
1. Consumer decision making process -
Marketers utilise the consumer decision making process to understand how a
purchaser makes decision from the situation they are initially exposed to a company or
goods to the point of buying . It can be segmented widely into five sections that are listed
in below -
 Awareness - this is initial stage of theory which states the situation when business are
capable to analyse their target market share improving those requirements or desires .
In this buyers evaluates the resolution and substitutes for an issues.
 Interest - at this stage buyers decision process leads to modification constantly as
users needed attaining more and more details regarding goods which could satisfy
their requirements. Details can also be obtained via recommendations from people
having earlier learnings with products. This helps in order to analyse the goods
through the feedbacks and experiences so that customer do not feel bad after buying
goods (Raborn, amd et.al., 2018) .
 consideration - this level involves determine various alternatives that are available in
the market along with the product life cycle. It has been analysed by the users what
can satisfy their requirements , they will start looking out the best option available .
This analyses can be done on the basis upon various components like quality, values
and other elements which are crucial for users. They may compare values or read
responses and then choose a goods which satisfies their boundaries the most.
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 purchase - in this stage user finally decided to make a purchasing decision , at this
customer has analysed all facts and has arrived at a logical point which is rather on
the basis upon the influence from marketing drive or upon emotional relation or
interpersonal learnings or a relation of both components.
 loyalty - various customers journey completed with the buying level. Thus, giving a
brilliant post purchase learnings is important to assure that the users will make other
purchasing in up coming days or will refer the goods and services to another, this is
where honesty begins (Göküş, and Çubukcu, 2018) .
2. Marketing segmentation -
it can assist company in targeting audience just the people most likely to become
satisfied users of organisation or outstanding content . To divide a market they change into
groups that have same features . It can aid structure in defining and better understanding the
marked clients. This permits company to determine the correct market for the goods. It
targets the right content to the right people in the right manner,rather than targeting the whole
content . This assist management in increasing strong marketing content, along with that
they find ideal marketing strategies and many more benefits are there is market place
(Imudia, . and New, 2019) .
Application of Marketing theories
Through above discussed marketing theories the best suitable theory is consumer
decision making process, as it related with mindset of the employees in order to buying goods
so that they can understand the consumer behaviour and mindsets (Male, 2018). They also look
out on consumption of electricity as they target the mass market so they are required to
understand the mindsets of the users and although they mark the middle class persons in order
to provide them an affordable goods. So that they can buy easily without thinking they also
provide quality goods so that he consumer can refer there brand in market place.
Strategic implications to marketing professionals
The strategic implication are the major consequences growing from not understanding
and managing the multitudinous effect of forces and dynamics of alteration that can effect
an enterprise from different levels. It also impacts the managements actions due to its
straight interact the capability of the outcomes strategic strategy plan in getting the
commitment and support of the human resources of the company in regards to increase the
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outcome or consequences of execution the strategy. It relates to a variety of actions via the
planning and practically all components of the business of involvement. It serves that it
offers as a major structure on which an organisation builds its growth and expansion just as
strategic planning is a attainment factor in the improvement of company (Keller, and Traxer,
2021) .
CONCLUSION
It is terminated from above report that business is required to manage a marketing strategies to
that they can make an effective decisions as well as it also assist in making the brand as luxury
in marketplace. As discuss in above report regarding the marketing concept and their theories
in relation of company and also shared the experience of buying the television and after using
effects. In last it is concluded that strategic implication of marketing professionals. The
approaches used by the company is discussed in above report and they target the customer
who can afford the cost of the goods and services.
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Göküş, M. and Çubukcu, Z., 2018, April. Cross-Border Migration Managment of Turkey: Actors
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Hemmati, N.G.M., 2020. Meta-Analysis of Studies Related to Ethical Leadership in Managment.
Imudia, A.N. and New, E.P., 2019. Endometrial polyps: In-office managment. Contemporary
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Keller, E.X. and Traxer, O., 2021. Ureteroscopic Managment of Upper Tract Urothelial
Carcinoma. Bladder Cancer, pp.403-419.
Male, H., 2018. Clinical Summary Guide: Androgen deficiency diagnosis and managment.
Raborn, amd et.al., 2018, January. Percutaneous trans-luminal managment of the vascular
manifestations of neurofibromatosis type 1. European Congress of Radiology-ECR
2018.
Rolff, and et.al., 2019, July. Startup Behaviour of Power Managment Unit for an Integrated Gate
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Electronics (PRIME) (pp. 53-56). IEEE.
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