LG ups marketing spends up by 15-20 per cent this festive season
LK Gupta, Chief Marketing Officer, LG India, tells exchange4media why cutting down prices is not always the right way to lure the customer and shares the consumer electronics major’s festive season plans.
With the festive season in full swing, consumer electronics major LG is all geared and has increased its marketing budget to cater to the special market demands this year.
For the end consumer, the brand has launched zero per cent finance schemes on installment buying options. Speaking exclusively to exchange4media, LK Gupta, Chief Marketing Officer, LG India, revealed, “We have increased the marketing budget by 15-20 per cent especially for the festive season.”
Gupta also divulged that this year the company had seen 45 per cent more returns in comparison to what they had received in the year 2009.
Further sharing on the plans for the coming year, Gupta said, “2011 will be challenging. We will try to bring more efficiency in our marketing spending. The competition is there, players are increasing in this segment and brands are active.”
LG has always been a huge spender when it comes to advertising. According to the company officials, 50 per cent of the overall marketing budget, which is around Rs 250 crore, is spent only and solely on advertising.
But advertising is not just what the brand focuses on. Gupta believes the customer needs to be assured of quality even after the sale. “We try to retain or attract customers by giving them value proposition. Cutting down the prices is not the way to lure them,” he remarked.
“There isn’t much difference in our marketing strategy. After-sales service has always been one of the core elements of our strategy and it will remain so,” he concluded.
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