LG Display is starting to make Organic Light-Emitting Diode (OLED) screens. The screens are slated to come out sometime in 2010. LG Display also faces an overstock of screens already in production, but a glass shortage may hinder that production. LG aims to become the leader in screens sector by profitability.
http://www.reuters.com/article/marketsNews/idINSEW00012020090717?rpc=611Tuesday, October 20, 2009
Tuesday, October 13, 2009
E-Commerce
LG Display is a manufacturer of TV, computer, mobile phone and any type of visual screen. The products such as LCD and LED screens made by LG are sold as parts to computer makers and consumer electronics makers who then sold the finishing products to distributors like Best Buy or Wal-Mart before eventually being bought by the end users. LG Display therefore mainly employs the business-to-business (B2B) e-commerce model while the stores that sell LG products are business to consumer (B2C) model. LG products are rated by information brokers like Consumer Reports and ConsumerReports.com so that consumers have a way to rate their products against the other ones in the category. For the B2B model, the company's Supplier Collaboration System is a vertical e-marketplace that connects the buyer and sellers in the indusrty specific to LG's primary business activities. In terms of B2C model, LG distinguishes itself as specialty merchandise, since its products are high-ticketed items that require customization, warranty and other after-sales services. The company may need to work on mass customizing its products to better tailor to individual needs.
Marketing Mix
Since the company primarily focuses on B2B business, LG Display does not sell its products directly by itself online. Therefore, one cannot find much B2B marketing via surfing the web or using search engines. However, its Supplier Collaboration System is an ERP system that integrates and unifies all suppliers and enables both suppliers and buyers to actively participate in an e-marketplace.
In terms of B2C marketing, other than registering with search engines such as Google or Bing to enable appearance on top of the search list, the company uses online advertisements on sites like Yahoo or Google in banners or sidebars. Viral marketing is also used through blogger reviews and online customer ratings. The click-and-mortar system is best representation of how LG products are sold. Stores like Wal-Mart, Best Buy and the now out-of-business Circuit City have actual stores that sell products and even more selections on the websites as well.
Payment System
As the second largest LCD maker, LG Display supplies panels to major personal computer makers and leading consumer electronics makers globally. The fact that the majority of its e-commerce business model belongs to B2B suggests payment is done through financial Electronic Data Interchange (EDI) since payments are often large and encompassing many purchases. Its Supplier Collaboration System is a B2B e-marketplace which supports financial EDI through a value-added network. Such system integration between the company and its suppliers efficiently cuts down costs for order processing time and effectively reduces human intervention. The companies that actually sell the LG products (B2C model) use shopping cart technology to help facilitate the check out process on their sites; this is an implementation of the digital wallet system as account or credit card information are saved to speed up the processing time. Online auction sites such as E-Bay allow customers to pay using credit cards or pay through a financial cybermediary, such as PayPal.
Marketing Mix
Since the company primarily focuses on B2B business, LG Display does not sell its products directly by itself online. Therefore, one cannot find much B2B marketing via surfing the web or using search engines. However, its Supplier Collaboration System is an ERP system that integrates and unifies all suppliers and enables both suppliers and buyers to actively participate in an e-marketplace.
In terms of B2C marketing, other than registering with search engines such as Google or Bing to enable appearance on top of the search list, the company uses online advertisements on sites like Yahoo or Google in banners or sidebars. Viral marketing is also used through blogger reviews and online customer ratings. The click-and-mortar system is best representation of how LG products are sold. Stores like Wal-Mart, Best Buy and the now out-of-business Circuit City have actual stores that sell products and even more selections on the websites as well.
Payment System
As the second largest LCD maker, LG Display supplies panels to major personal computer makers and leading consumer electronics makers globally. The fact that the majority of its e-commerce business model belongs to B2B suggests payment is done through financial Electronic Data Interchange (EDI) since payments are often large and encompassing many purchases. Its Supplier Collaboration System is a B2B e-marketplace which supports financial EDI through a value-added network. Such system integration between the company and its suppliers efficiently cuts down costs for order processing time and effectively reduces human intervention. The companies that actually sell the LG products (B2C model) use shopping cart technology to help facilitate the check out process on their sites; this is an implementation of the digital wallet system as account or credit card information are saved to speed up the processing time. Online auction sites such as E-Bay allow customers to pay using credit cards or pay through a financial cybermediary, such as PayPal.
Subscribe to:
Posts (Atom)
