LG 2007 Annual Report Download - page 12

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DERMOT BODEN
Executive VP
Chief Marketing Officer
TOM LINTON
Executive VP
Chief Procurement Officer
WOO HYUN PAIK
President
Chief Technology Officer
DOHYUN JUNG
Executive VP
Chief Financial Officer
2. STRUCTURE OUR PORTFOLIO FOR LEADERSHIP
We operate in over 120 countries today, competing in
roughly 30 product categories. We are already a clear
leader in a number of these fields. In the ones that
we are not, we are now making strategic, objective
decisions on whether to move ahead or exit as we
shape our portfolio to achieve our global top-three
goal in all our businesses.
3. BASE OUR STRATEGIES ON CLEAR STP INSIGHTS
Consumer markets are becoming increasingly polarized
as the middle market is squeezed by competition
from above and below. Our clear segment, target,
and positioning (STP) insights are now guiding us as
we create consumer value with aspirational and
premium products to win at both ends of the market.
4. INVEST IN A CLEAR, GLOBAL IDENTITY The LG
brand is one of the best-known names in consumer
electronics. But consumers are still a little hazy
about who we are and what we stand for. Our
brand-building focus is now on communicating
a clear identity that we believe will resonate with
consumers around the globe: LG is a refreshing
brand with products that make you feel sophisticated.
5. INNOVATE IN DESIGN AS WELL AS TECHNOLOGY
Consumers are becoming increasingly sophisticated in
their tastes and preferences. They expect products that
have the latest technology and design. Our passion for
creating products that deliver a perfect harmony of styl-
ish design and smart technology that fits life is a power-
ful value proposition. One that we believe will make our
consumers even more passionate about our brand.
6. DEVELOP A TRULY GLOBAL ORGANIZATION To
be one of the world’s top companies, we have to have
world-class people and a world-class organization.
Today, we are seeking out the best minds from around
the globe and equipping our people with the skills
they—and we—need to grow. We continue to cultivate
a mindset of excellence and creativity as we re-evaluate
the way we do things and eliminate the waste and
inefficiencies that hold us back from our true potential.
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