Bottom of the Pyramid -Strategy-LG Smartphone
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This slide deck is the award-winning slide of World Asian Case Competition-2015. Team EXPONENT Universty of Dhaka
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Bottom of the Pyramid -Strategy-LG Smartphone
- 1. “The LG Story: Innovate or Die!” Advisor Md. Saimum Hossain Team Member Md. Mohi Uddin Bhuiyan Team Member Suvro Emmanuel Rozario Team Member Shadman Haque
- 2. The real source of market promise is not the wealthy few in the developing world, or even the emerging middle-income consumers. It is the billions of aspiring poor who are joining the market economy for the first time. - C. K. Prahalad
- 3. 1950s The Country suffered partition First South Korean Radio! Proclaimed its presence.
- 4. 1960s Cyclone killed 20,000 people Indo-Pak War Consequences of Partition Ambitious T-701 transistor radio was a massive failure Too expensive for mass market Not good enough for Niche Almost shut down company
- 5. Supplying radios to rural areas through the government tackled the crisis Heading towards Liberation
- 6. 1970s Birth of a Nation A company Made its presence as a New Brand
- 7. 1980s Intense Political Turmoil Turbulent economic times in Korea. Negative economic growth due to Oil Crisis and political crisis Intense domestic competition Protectionist American Govt. Labor Crisis
- 8. L.G looked overseas: America , West Germany and Turkey Comprehensive design and product testing Laboratories Introduced TPC Overthrew dictatorship to enter the path of Democracy
- 9. 1990s-2000s Stabilization and Development Market Leader in Global Export
- 11. TODAY … 160+ million people Declining market share Struggling to be the market leader ~30 million people BOP
- 12. “Enter the BOP budget-friendly smartphone market in Bangladesh” The B30 Strategy
- 13. Why Bangladesh BOP? Smartphone market YOY growth 17% 54% Market Leader Symphony A BOP Brand ~30 million Under BOP
- 14. 160 million People surpass Europe within 2050 Next 11 Goldman Sachs Next Frontier 5 J.P. Morgan
- 15. Untapped BOP Smartphone Market Fierce Competition in High-end Smartphone Markets Why LG for BOP?
- 16. Faces of the BOP…
- 17. Micro-entrepreneurMicrofinance New Brand for BOP Innovative Business Model
- 18. 4C Analysis Consumer 30 million BOP market Budget friendly smart phones and electronics Price conscious Budget Friendly Chinese electronics Making aggressive headways Inferior quality to L.G Competitors Established Industrial resources Top level R&D Easily penetrable potential market Company Local buyers and sellers Globalization through localization Collaborators
- 19. How does Success Look Like? LG Market Leadership Initial Phone launch Spread word of Mouth Potentiality through Connectivity Innovation will continue Bangladesh Better living StandardConnectivity Better Productivity Phone Purchase
- 20. Researching BOP market characteristics in Bangladesh-6 months Product Development and Beta Testing- 9 months Product Launch Implementation timeline
- 21. CHECK… Is our our case Significant? Do We Have enough Evidence Is our view points original Do our case have enough usefulness?
- 22. Thank You. prepared with from Bangladesh
- 23. Back-up Slides
- 24. GLOBALIZATION STRATEGIES Effective global management Set up global financial centre to better control finances Set up foreign R&D plants To Stay ahead in terms of Innovation
- 25. GLOBALIZATION STRATEGIES L.G expanded into America, and Europe Circumvented protectionist American Gov. Took advantage of cheaper resources and untapped market
- 26. Locals know best Local Marketing, Local product development Alliance with local distributors Local employees in high positions and Globalization through Localization
- 27. 1980s Tropical North Indian Cyclone 6,240 killed people GOLD STAR TECH ICON 80’S Turbulence Economic Crisis
- 28. Don’t cherish for UPDATE Don’t Prefer BRAND LOYALTY People don’t have MONEY People buy only CHEAP GOODS FEW MISCONCEPTIONS
- 29. They buy Updated Affordable Goods They PREFER Brand Loyalty They have little but greater portion of MONEY People buy only Real-life Useable GOODS REALITY ON OUR ANALYSIS
- 31. They buy Updated Affordable Goods