Digital leader holds MEA Marketing Conference to enhance relationship with major partners
Global digital leader LG Electronics is accelerating its penetration into the Middle East and Africa region despite the global economic recession. The MEA remains one of LG's top international markets and sales are reported to have touched US$3.9 billion in 2008.
At its high-profile marketing event, the 'MEA Marketing Conference' (MMC 2008), LG's top management including Mr. K.W. Kim, CEO of LG Electronics Middle East and Africa Regional Company, Mr. Dermot Boden LG's CMO and Mr. Didier Chenneaveau LG's CSCO, reviewed the marketing strategies and challenges for the year. More than 300 people, including major partners and dealers, also participated in the event.
The annual event, which began in 1995, aims at sharing LG's marketing and growth strategies with its partners, enhance its relationship with major dealers and shed light on newly introduced products to have a better understanding of the yearly marketing strategy.
In their addresses, LG's management confirmed that the company has been rapidly growing in the MEA region by differentiated region specific marketing, premium brand strategy and upbringing local talents. It achieved US$3.9 billion of sales in 2008, 22 per cent more than that in 2007. Moreover, it enjoys the outstanding market position in several countries in the MEA region such as Nigeria, Jordan, Iraq, Morocco, Tunisia and Iran.
Management also gave confidence to their partners by sharing LG's specific strategy to overcome the recession and presented supporting plans to build the strong will to overcome global recession.
"Middle East and Africa are not insulated from the economic recession but these are the markets that have the biggest potential to grow," stated Mr. Kim. "LG Electronics MEA Company will achieve more than 20 per cent of sales growth in 2009 with differentiated marketing strategy based on customer insight."
In the Middle East region, the commercial business market for home network system, built-in appliances, air conditioner, monitor and TV is expected to be consistently expanding. With the high possibility to stimulate the economy, GCC countries will continue to have a strong potential of growth with the building of infrastructures and development of cities.
Moreover, there are many unexploited emerging markets in Africa, which will bring more opportunity for LG to expand its business in the region.
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