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Mission/Vision Statement
LG Electronics (LGE) mission statement, taken from its website, states:
LG Electronics pursues its 21st century vision of becoming a true global digital leader who can make its customers worldwide happy through its innovative digital products and services.
LG Electronics set its mid- and long-term vision anew to rank among the top 3 electronics, information, and telecommunication firms in the world by 2010.
As such, we embrace the philosophy of "Great Company, Great People," whereby only great people can create a great company, and pursue two growth strategies involving "fast innovation" and "fast growth." Likewise, we seek to secure three core capabilities: product leadership, market leadership, and people-centered leadership (LG Electronics Vision).
LGE's mission statement explains that its goal is to become a top innovative electronics company in the world. It takes pride in its company and employees and believes that this is what will make it into one of the most innovative companies of the 21st century.
Marketing Management Philosophy
LGE's operates under the product concept of marketing management. From 52" Plasma Flat Panel televisions to thin, sleek mobile phones that also store and play music, LGE is a company that is devoted to "fast innovation and fast growth" (LG Electronics Vision). It has focused on "developing new products in winning and key businesses, and securing technology leadership." It provides high quality and constantly updated products to further ensure its success as a top electronics manufacturer. Its research and development efforts are specifically concentrated in the area of technological capabilities and developing new growth products (LG Electronics Technology Strategy). As a worldwide corporation, LGE strives to "make its customers happy through its innovative digital products and services and in doing so operate under the product concept"
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