SOUTH Korean-owned LG Electronics will tap the “premium-seeker” market in the country as it sets to increase sales by 30 percent next year.

The company aims to achieve the figure across its entire premium product lines without dropping other products or losing focus on its low-end market.

“The 30-percent growth we’re looking at will be more attributed to LCD [liquid crystal display] TVs and mobile phones,” said Raymond Hernandez, head of brand marketing for LG Electronics Philippines Inc. at the LG powered house exhibit held Tuesday in Fort NBC Tent.

LG plans to redefine its domestic marketing stra-tegy and distribution efforts to further reach “premium” clients whom they defined as individuals who can mix style and substance, trendsetters and possess the attitude of being the first and always on top.

“Before, we’re doing it like factory-based selling, this time we’ll do it more consumer-centric and focus on FMCGs [fast moving consumer goods],” said Hernandez.

“The new approach will not only concentrate in key growth cities in the country, but in the entire Philippines,” added Jeff Hong, president and CEO.

According to Hernandez, of the entire buying public, there are about 25 percent to 30- percent premium-seeking buyers in the market. “These are not composed only of those in the A-B economic classes. There are those in the C class and yet they aspire for premium-branded products,” the LG official explained.

This is the reason why the company is confident it can meet the number of product models and distribution multitudes next year and is optimistic to hit this growth level.

Hernandez said in a text message, “the company made a ‘ballpark’ sales of P2 billion in 2007 and assume this year will finish a 90-percent to 100-percent sales growth.”

On top of LG’s highlighted campaigns with full high-definition LCD TVs and touchscreen slider phones, it expanded an avenue to which consumers may “integrate technology into their homes’ decorative themes” which they called as “techorating.” This includes digital appliance products like vacuum cleaners, microwaves, refrigerators, washing machines and air-conditioners and digital multimedia products like home theater systems.             

“LG wants to create a profit harmony for consumers. The premium technology products which they can incorporate to their households and lifestyles are our key to success,” added Hong.

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SOUTH Korean-owned LG Electronics will tap the “premium-seeker” market in the country as it sets to increase sales by 30 percent next year.

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Due Diligencer