Executive summary

This marketing assignment examines the PESTLE variables, market segmentation,

marketing mix, and strategy for LG's washing machine in Myanmar. The survey data utilized in
the assignment is restricted to 40 family members in Yangon, Myanmar, and may not be
representative of the entire country. According to the report, LG confronts a number of hurdles
in Burma, including hefty import fees and environmental concerns. The brand, on the other hand,
has a solid market position and has been present in Myanmar for some time. LG caters to a wide
range of customer groups by offering goods appropriate for both high-end and high-volume
markets. To reach more people, LG's planned approach is to focus on product innovation,
extending distribution channels, and building a strong online presence. Overall, this research
presents industry information and recommendations to assist LG flourish in Myanmar's
competitive washing machine market.
Introduction
Marketing is a business word that has been defined in a variety of ways by specialists. It refers to
the collection of processes and duties that allow a business to profit and succeed in the market.
These duties include identifying target consumers, developing the value offer, choosing
communication methods, acquiring new customers, retaining existing customers, and expanding
client base.
Marketing strategy is a detailed plan developed specifically to achieve the organization's
marketing objectives. It lays forth a strategy for achieving these marketing goals. It is the
foundation of a marketing strategy. It was created following extensive marketing study. A
marketing strategy assists a business in focusing its limited resources on the greatest potential
possibilities in order to expand.
Even inside a firm, people may understand the phrase differently. Essentially, it is a
management process that moves products and services from concept to client. It entails
identifying a product, gauging demand, settling on a price, and deciding on distribution channels.
It also entails creating and implementing a promotional plan that combines outbound and
inbound marketing.
Pestle anlysis of LG company
Political factors
Beyond 2022, the political situation in Myanmar may have a substantial influence on LG
washing machine brands operating in the nation, according to a business analysis. One thing to
consider is the possibility of changes to import, export, and tariff regulations. With Myanmar's
political climate in flux, it's likely that the government will modify these laws, affecting the cost
of importing LG washing machines into the nation. This might affect the price of the washing
machine for consumers as well as LG's market profitability. The political situation in Myanmar
is a crucial issue that might affect LG washing machine sales in the nation. LG must constantly
monitor the situation and adjust their marketing efforts as needed to prevent any negative impact
on their business.
Economic
Following the coup, international sanctions placed on Burma had an impact on LG's
economic activities, including supply chain problems and trouble accessing banking services.
The military coup and following political turbulence have damaged the country's economic
stability, resulting in a fall in unstable inflation rates, higher exchange rates, and lower Myanmar
kyat values. According to the Myanmar Central Bank, variable inflation rates and currency rates
have a very indirect negative influence on businesses since individuals are less willing to spend
money on significant purchases such as washing machines. This may make it more difficult for
LG to properly sell their products and meet their sales targets.
Social
Because of the uncertain political and economic situation, individuals in Myanmar are less eager
to acquire non-essential things and are more cautious about spending money after 2022. The
present population of Myanmar in 2023 is 54,577,997, a 0.74% rise from 2022, however
employment rates in Myanmar are high, with many women facing considerable impediments to
accessing the official labor market. According to the World Bank's collection of development
indicators derived from officially recognized sources, female unemployment (% of female labor
force) (modeled ILO estimate) in Myanmar was recorded as 2.472% on February 21, 2023. As a
result of the female unemployment rate, LG's washing machines in Myanmar may suffer as
women are frequently the major users of household equipment. LG must address the special
demands and preferences of female consumers, as well as their economic and social conditions,
in order to flourish in this market.
Technology
Myanmar has one of the fastest expanding internet user populations in Southeast Asia,
with over 22 million active social media users, according to 2021 research by Hootsuite. As a
result, digital advertising is becoming more popular in Myanmar, and businesses may use social
media platforms like Facebook, Instagram, and Twitter to reach their target demographic. Mobile
payment systems such as Wave Money and K Pay have grown in popularity in Myanmar as
smartphone penetration has increased. Companies may use these mobile payment systems to
give their consumers with simple payment choices. As a consequence, LG may use social media
platforms like Facebook, Instagram, and YouTube to increase brand recognition, highlight
product features, and promote promotions and discounts. Social media influencers may also be
used to promote LG's washing machine and raise interest among potential buyers.
Legal
LG is subject to Myanmar's legal and regulatory framework, including tax laws and
regulations, as a foreign corporation operating in the country. The legislation governing home
appliance tax rates is an important legal aspect affecting LG's operations in Myanmar. The home
appliance tax rates law, which levies a 15% import tax on washing machines, is one significant
legal element affecting the firm. This law might have a number of ramifications for LG's
business in Myanmar. The increased cost of LG washing machines as a result of the significant
tax may make them less accessible for Myanmar consumers, reducing the company's market
share and sales income in the nation. To account for the increasing cost of importing washing
machines into Myanmar, the company's pricing strategy and sourcing procedures must be
adjusted. Additionally, LG may face legal and regulatory issues in complying with Myanmar's
home appliances tax rates law.

Environment
When it comes to acquiring washing machines, Myanmar's climate has a huge influence.
Due to significant rainfall and floods, the monsoon season, which lasts from June to September,
can create interruptions in product supply and accessibility. This may result in a drop in demand
for washing machines during this time period, as consumers are more inclined to acquire new
appliances owing to worries about water damage and other associated issues.
Market Segmentation
The technique of breaking a market into smaller groups of customers that have similar
demands and characteristics is known as market segmentation. Businesses may identify and
target certain groups of customers with personalized marketing tactics and products by
segmenting the market, enhancing the efficacy of their marketing efforts and improving overall
profitability.
Demographic Geographic
Age (appendix - ) Location (appendix - )
 25-34 years (52.8%)  Pabaden (17.5%)
Gender (appendix - )
 Male (54.7%)
 Female ( )
Occupation (Appendix - )
 Employee (64.2%)
Marital Status (Appendix - )
 Married (54.7%)
 Single (45.3%)
Household income level (Appendix
-)
 3,000,000 MMK (1187.59 £)
(66%)
 Education Level (Appendix - )
 High school Graduate
(73.6%)
Family size (Appendix - )
 4 (45.3%)
Psychographic Behavior

Critical Weight LG Weight Competitor Weight Competitor Weight

Success Score of LG Samsung of Midea of
Factor Score Samsung Score Midea
Price 0.20 5.7 1.14 5.64 1.128 5.32 1.064
Design 0.20 6.48 1.296 5.36 1.072 6.02 1.204
Warranty 0.50 6.04 3.02 6.52 3.26 5.46 2.73
Energy 0.10 5.68 0.568 5.06 0.506 4.96 0.496
Consumption

Every brand seeks to build a unique selling proposition (USP) that distinguishes them from their
competitors in today's highly competitive market. This paper will compare LG's USP to those of
two of its biggest competitors, Samsung and Midea. The information was gathered using a
survey, and each component was allocated a weight to assess the significance of each USP. The
survey data was collected only from the Yangon region, and it should be highlighted that the
findings from this poll cannot be generalised to represent the entire country. It is crucial to
remember that the survey results only give a restricted view of consumer habits and preferences
in the Yangon region, and may not necessarily reflect consumer attitudes and beliefs in other
parts of Myanmar. Furthermore, it is critical to recognize that the limits of the academic
assignment deadline may have put limitations on the scope and depth of the data obtained.
Unique selling point of LG and its competitive advantages
LG is a market leader in electronics, recognized for high-quality goods and cutting-edge
technology. In this analysis, we will compare LG's Unique Selling Proposition (USP) and
competitive advantages to those of other competing brands. We will compare LG against
Samsung and Midea in terms of price, design, warranty, and energy usage using the survey data
weighted supplied.
Analysis of LG’s Unique selling point
According to the survey data weighting, LG ranks first in terms of design, with a weight
of 1.296. This shows that LG's design is seen as superior than those of Samsung and Midea.
Nevertheless, LG lags behind its competitors in terms of price and energy usage, with weights of
1.14 and 0.568, respectively. Samsung has a greater weight for both price and energy usage,
indicating that customers believe the brand to be more economical and energy-efficient.
LG, on the other hand, has the highest warranty score, with a weight of 3.02. This shows that
people believe LG provides a better warranty than Samsung and Midea. As a result, LG's
warranty might be regarded one of its selling points.