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Chapter 1: Theoretical background of competitive positioning Chapter 2: The current situation of Flat Panel Display business Chapter 3: Repositioning strategy to recover No.1 market share for LG’s Flat Panel Display in Vietnam Chapter 4: Difficulties and challenges, and recommendation in the process of implementation Conclusion
RESEARCH DISSERTATION “REPOSITIONING STRATEGY FOR LG’ FLAT PANEL DISPLAY TO RECOVER NO.1 MARKETSHARE IN VIETNAM” Author: Nguyen Xuan Truong Program: MBA 15th Intake: 2006 - 2008 Tutor: Doan Hoang Minh, Ph.D Adviser: Nguyen Xuan Chau Hanoi, October 2009 Subject: Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam INTRODUCTION Rationales of the research: In recent years, consumer electronics market has been keeping on fast growing, especially, the rapid increasing of high-tech products such as flat plane display (OLED TV, LCD TV, Plasma TV) With the effects from WTO joining and AFTA, price of most categories becomes more and more competitive, it results by increasing of audiovisual demand during the time Flat panel display (FPD) market demand has been booming up since 2007 and has a compound average growth rate (CAGR) to be 129% in 2007-2009 period and continuously over 30% in 2009-2012 period This category not only has a fast growth, but also it brings a big potential profitability to manufacturers LG Electronics Vietnam (LGEVN) had been No.1 position for flat panel display products in the period 2001~2006 Since the aggressive marketing re-enforcement from Samsung and Sony, LG’s losing No.1 position and be backwarded from these competitors in the market The question is that although LG’s FPD products line-up is quite good about quality, design, function and the price is competitive, but currently LG’ FPD products are No.3 in terms of market share by 15%, going after Samsung (32%) and Sony (20%) Therefore, I want to find the solutions for these problems and try to design a new re-positioning strategy through: Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam Recommendation Analysis Environment Analyses (Biz environment, industry, market demand…) Competitor Analysis (4P Analysis) Product Strategy Segmentation Price Strategy Targeting to some segmented market Place Strategy Re-positioning market Promotion Strategy Customer Analysis People Strategy (Behavior, shopping trend, customer segment) Because of these reasons, I choose the dissertation: “Re-positioning strategy for LG’s Flat Panel Display to recover No.1 market share in Vietnam” Research objectives: The objectives of the research are: - To understand the current situation of consumer electronics market - To deeply explore the market insight through analyzing competitors and customers - To specify the strengths, weaknesses, opportunities, and threats of LG brand in consumer electronics market in general and flat panel display in particular - To identify the reasons leading to backward of LG’s FPD in the market - To re-design marketing strategy based on analyzing bottlenecks and challenges in the process of marketing strategy implementation - By working arts in LGEVN’s marketing department (2004-2009) and applying the knowledge learnt from CFVG, I will make some recommendations for re-positioning strategy for LG’s FPD Research methodology: In order to make research, I use the below methods: - Colleting the data: + Primary data: Direct interview the customers and observe consumer’s behavior Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam Direct interview the dealers, retailers in the consumer electronics business + Secondary data: The data from customer research from AC Nielsen and market insight from Gfk The data from LG about sales performance, channel structure analysis… Refer the information from many resources: magazines, internet… - Analyzing the data by the method: + Method of comparison + Method of statistics analysis Research Scope: Due to the limitation of time and knowledge, I only focus to research the dissertation by understanding the current situation of FPD business through direct interviewing data done from August to September 2009 and data of LG electronics Vietnam in 2007-2009 Research structure: Introduction Chapter 1: Theoretical background of competitive positioning Chapter 2: The current situation of Flat Panel Display business Chapter 3: Re-positioning strategy to recover No.1 market share for LG’s Flat Panel Display in Vietnam Chapter 4: Difficulties and challenges, and recommendation in the process of implementation Conclusion Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam TABLE OF CONTENTS INTRODUCTION Page Rationales of the research 07 Research objective 08 Research method 08 Research scope -09 Research structure -09 CHAPTER I: THEORETICAL BACKGROUND OF COMPETITIVE POSITIONING 1.1 Product positioning -12 1.2 Brand positioning 13 1.3 Channel positioning -15 1.4 Pricing positioning 18 CHAPTER II: THE CURRENT SITUATION OF FLAT PANEL DISPLAY BUSINESS 2.1 Introduction of LG Electronics Vietnam Company 20 2.1.1 Overview of LG Electronics Vietnam company -20 2.1.2 Overview of LG’s flat panel display business in the recent years. 21 2.2 Business environment analysis -22 2.2.1 Economic and industrial environment 22 2.2.2 Market analysis -25 2.3 Competition analysis -28 2.3.1 Product -28 2.3.2 Price -30 2.3.3 Place (Channel) -31 2.3.4 Promotion 32 2.4 Customer analysis -33 2.4.1 Key buying factor -33 2.4.2 Communication tools 34 2.4.3 Lifestyle 34 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam 2.5 Company Analysis 36 CHAPPTER III: RE-POSITIONING STRATEGY TO RECOVER NO.1 MARKET SHARE FOR LG’s FLAT PANEL DISPLAY IN VIETNAM 3.1 Vision of LG Electronics Vietnam in Flat Panel Display market 39 3.1.1 Marketing objectives -39 3.1.2 Sales Objectives -39 3.2 Segmentation, Targeting and Positioning 39 3.2.1 Customer segmentation 39 3.2.2 Target to segmented market -40 3.2.3 Positioning to targeted market 41 3.3 Strategy Re-positioning 42 3.3.1 Product Strategy 42 3.3.2 Price Strategy -43 3.3.3 Channel Strategy -46 3.3.4 Promotion Strategy 48 3.3.5 People Strategy -50 CHAPTER IV: DIFFICULTIES/CHALLENGES & RECOMMENDATION 54 4.1 Difficulties and challenges in the process of implementation -54 4.2 Recommendation -55 CONCLUSION -56 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam LIST OF ABBREVIATIONS LGEVN : LG Electronics Vietnam HE : Home Entertainment (FPD, LCD TV, PDP TV, CRT, AV) HA : Home Appliance (RAC, REF, WM, MWO, VC) FPD : Flat Panel Display LCD TV : Liquid Crystal Display PDP TV : Plasma Display Panel CRT TV : Cathode-ray Tube AV : Audio Video MNT : Monitor RAC : Room Air Conditioner REF : Refrigerator WM : Washing Machine MWO : Microware Oven VC : Vacuum Cleaner KPI : Key Performance Index AR : Account Receivable KAM : Key Account Management MOT : Moment of Truth PRM : Product Roadmap SCM : Supply Chain Management PSI : Purchase, Sales, Inventory KBF : Key Buying Factor Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam ACKNOWLEDGMENTS First of all, I would like to express my special thanks to my tutor – Ph.D Doan Hoang Minh – for all the guidance and support that he has given me through the course of this dissertation His suggestions regarding the framework and review of the thesis have been greatly appreciated and acknowledged I truly appreciate his efforts in spending valuable time reading and correcting the numerous drafts of this thesis I would also like to thank my college – Mr Nguyen Xuan Chau – marketing manager of LG Electronics Vietnam His effort in spending valuable time supplying the related data and suggestions despite his heavy workload is highly appreciated Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam CHAPTER I: THEORETICAL BACKGROUND Generally, in marketing, positioning means the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization Its objective is to occupy a clear, unique, and advantageous position in the consumer’s mind Furthermore, Re-positioning involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market Question: What sets your product, service and company apart from your competitors? What value you provide and how is it different from the others? Competitive positioning is about defining how you will “differentiate” your value in the market It is about carving out a spot in the competitive landscape and focusing to deliver value with that strategy A good strategy analysis includes Market profile: size, competitors, stage of growth Customer segments: groups of prospects with similar wants & needs (characteristics) Competitive analysis: strengths, weaknesses, opportunities and threats in the landscape Positioning strategy: how you’ll position your offering to catch opportunities in the market Value proposition: the type of value you’ll deliver to the market When your offering is clearly different from that of your competitors, it is easy to build new prospects and attract customers to purchase Without differentiation, it will take more time and cost more persuade customers to choose you; as a result, you often end up with competing by price – a tough situation to sustain over the long term Your competitive positioning strategy is the foundation for your business’s future – it is the first thing you should if you are going to launch a new company or product It is also important when you are expanding or looking for a new edge 10 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam • Balance trade term: In order to encourage the long-term growth of each accounts, the trade spend should be balanced with account segments that reflect channel’ growth potential For potential groups, the main role is to increase LG familiarity through • Strengthen relationship through KAM: boost up KAM activities such as frequent dealer visit, dealer conventions and workshops, family gift, dealer trip to overseas… • Shopper MOT streamline: co-operate with KAM to strengthen display/ decoration based on shopper MOT, frequent training for floor-salesmen… FPD demand in provincial market still cover small portion but it show the potential to develop Currently, there are around a thousand of retailers in provinces and most of them still depend on CRT TV However, sales traditional channel will continue to play an important role in the provinces Although LG have market explanation strategy in provinces, LG needs to provide selective supports for modernizing retailers who have FPD sales over 500 set per year Among nearly a thousand of traditional retailers, around 100 retailers are modernizing and selling over 500 set per year The remaining retailers have just depended on CRT TV sales Therefore, it recommends that LG will select them to encourage them to sell LG in the first stage of provincial market cultivation In the other sides, LG should continue to keep relationship and give some support to other retailers who are selling CRT TV well and have potential to expand There are some strategic recommendations: • Direct Sales Policy: set up sales policy directly to key accounts in provinces in stead of selling products through distributors • Price Protection: most of retailers not want to keep LCD stock available because they are afraid of price down Therefore, the retailers will guarantee for retailers to keep stock and selling product in case of market price down • Loyalty strengthening: use programs such as overseas dealer trip, LG week, workshop and convention • Shopper MOT streamlining: co-operate with KAM to strengthen display/decoration based on shopper MOT 49 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam • Provincial training tour for floor-salesmen: in order to equip product knowledge and improve sales skills for floor-salesmen, training tour must organize quarterly 3.3.4 Promotion Strategy BTL Activities (Below-the-line) As analyzed in communication tool, In-store decoration, shopper MOT, and floor-salesmen recommendation are the effective way to communicate with customers • In-store decoration: The concept of products is decorated in big electronics shops in Hanoi & HCM city and for modernizing retailers in provinces LG needs decorate its corner by line-up such as Borderless, Scarlet This will help customer easy to realize the unique function of each categories • Shopper MOT: in-store display should be decorated based on shopper insights It can help shoppers to get easily more information and experience about LG products before making final decision • Floor-salesman training programs: Nowadays, floor-salesmen recommendation now is the most effective tool Therefore, the knowledge and sales skills are required for floorsalesmen LG plan to organize frequently and friendly all training course, especially for electronics center The training course also organized in province by training tour quarterly • POP materials: LG prepare topper, streamer, X-banner and printed material including catalogue, leaflet and buying guide and make them available in all shops with each lineup However, LG need POP which has clear customer insight and shopper-oriented • Launching event: LG runs a road-show program, known as the closest and effective channel to end-users Display corner in shops, display booths outside shops Some key shops in Hanoi & HCMC are selected and take turns to have launching performance everyday in a month Some launching events also are hold in public areas such as supermarket, shopping centers, and exhibitions • Promotion Gift: During launching time, LG offers customers promotion gift The promotion gifts will attract customer by linking to USP of each line-up For example, 50 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam Full HD will be promoted with Blue-ray DVD player, Scarlet models will be promoted with perfume from famous brands ATL Activities (Above-the-line) In ATL activities, mass media and WOM (through service, PR, review) are still the most effective tools in communication Besides, online marketing is also growing fast and play important role in communicate with young generation • Mass media: Advertising runs on mass media during the launching period with high frequency and wide coverage LG chooses most popular media to book advertising, including print newspapers, e- newspapers as well as the magazines Table 21: LG Advertising Campaign of Live)Borderless (26) For the northern, mass media play an important role in buying decision; therefore, mass media need to advertise more frequently in the North, especially in Hanoi and surrounding areas • PR: be an effective way in a long- term strategy as it is steadily convincing customers about the product USP In the launching stage, PR is used with following details: • Review articles: make customers believe in LG LCD TV with high technology and stylist design harmony as run review articles in the most prestigious magazine in Vietnam: (26) Source: Audio www.lge.com, – Visual November Magazine2009 and reportage on Vietnam TV, introducing “Live Borderless” generation as a “phenomenon” in LCD TVs market 51 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam • Voice of Customer (VOC): through voice of customer, LG can get customer insights to make marketing activities more effectively In the other hand, customers also know and believe in LG products and service VOC also could be done through PR activities and free service programs • Online Marketing: More than 17million of Vietnamese people use internet daily In order to successfully approach or reach our potential customers, we will use: o Official Website: An official website of LG Vietnam will familiarize public with Pearl Black image They will be able to obtain online brochures, Frequently Asked Questions, pictures, visual tour of and TVCF of Live Borderless and the updated promotional news of our company o Direct emailing: Public who are interested in our products can subscribe our online newsletter and promotional offers through direct emailing o Blogs/ forums: blogs and forums would be created on the internet where lots of young people in Vietnam often access easily Then, Live Borderless image appears in such channels will find easily to attract attention deliberately to young generation • OOH (Out of Home): advertising is made use of as a direct and impressive channel to introduce new and unique products like Live Borderless: o Billboards in large public areas (Airport, golf fields, stadiums ) o Giant banners in shopping centres However, due to the outside oriented lifestyle of the southern people, OOH needs more concentration in the South, especially in Hochiminh city 3.3.5 People Strategy Organization Chart Re-structure As analyzed in company analysis part, the current organization chart showed some issues Sales and marketing organization by account or products have its own strengths and weaknesses Therefore, we bravely recommend new organization chart for sales and marketing team It is a 52 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam combination between organization by account and by product So it could partly minimize the weaknesses and maximize the strengths of each organization type Chart 22: Proposal Sales and Marketing Organization Because directors are allocated base on products as head quarter assignment, sales team also should be allocated by two main divisions: HE (LCD, PDP, CRT, AHS, DVD) and HA (RAC, REF, WM, MWO, VC) Each division divide by channel: Modern channel (electronics centers in Hanoi and Hochiminh city) and Traditional channel (distributors/ retailers in provinces) By allocating like this, it makes sales teams are more specialized due to same characteristics of products or channel groups For marketing team, it suggests that marketing intelligent will change into trade marketing That means roles of this team not only focus on product as before, but also focus on both product and channel as sales team division This will make marketing and sales teams go together In addition, marketing team can understand deeply about channel and product Marketing communication needs to concern about brand image only such as mass media, PR, online marketing Therefore, they concentrate in consumer insight, voice of customer, brand awareness… 53 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam One more recommendation is that Go-to-market” team should be set-up The role of GTM team is to give strategic directions for the growth of sales turnover and profitability GTM will focus on two main objects: trade partner and shoppers They should some modules: • Profit/loss transparency (P&L): show sales and operating income results by trend, by product, by model, by account, by region…It will make top management can segment product/account and re-allocate recourses • Account Strategy and Account Planning (ASAP): segment account groups, make strategy for each account segments, re-allocate recourses and pre-planning for each account • Trade Term: analyze and review all trade spends for account, then re-allocate resource from ineffective zone to effective zone (by product, by account) • Pricing: analyze and pricing effectively • Promotion ROI: analyze historic data about promotion and apply ROI calculation in promotion programs to know the effectiveness of each promotion programs by type, region, duration, percentage… • Retail Sales Assist (RSA): analyze and give guideline, best practice for floor-salesmen training, in-store experience • Shopper MOT: analyze shopper insight, then can give guideline for product display, POP materials using …it help shops easily to approach customers This new organization also has some challenges It requires more human resources, good capability work force and the empowerment from top management Finally, the co-operation between sales and marketing can help LG company to have smooth working, exact information flow, clear direction and under corporate strategy Manpower Capability Improvement As above mentioned, in order to run business well, manpower with good capability always required There are some recommendations to improve current manpower • High quality recruitment: 54 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam • Training: o Product: give deeply knowledge of product, technology, function, especially before launching new products o Sales Skill: invite professors from Economics University to give a lecture about sales skills; training unique sales point to salesmen, promoter girls… o Analysis skill: it is a difficult skill but very important for manpower, especially marketing team So it should get training about analyzing from the experienced persons o Office skill: although that is the basic skill such as excel, PowerPoint, software, intranet programs, some training course must be organized to help sales and marketing members to improve office skills and reduce wasted time o English: LG is international working environment; almost communication in company is in English Therefore, some English course and TOEIC test will help members to communicate well • Workshop: At least, quarterly workshop should be hold to help members raise their voice, brain-storming, release job bottle-neck • Competitor and market information update: An information flow about competitors and market must be shared frequently It help sales and marketing can have quick actions • Best Practice sharing: Some best practice in other companies or other subsidiaries will help members to learn and apply the best one into practice The marketing roadmap for 2010 is designed as follow: 55 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam TTL Chart 23: Marketing Roadmap and Budget Estimation for FPD products in 2010 (27) In 2010 marketing roadmap, marketing activities mainly focus on new generation of LED TV such as product launching, WOM, online marketing, shop decoration and TVCF Promotion programs for retailers and end-users will be launched at high season, especially in World Cup 2010 in June ~ July 2010 period (27) Source: Internal Data Analysis from Sales & Marketing Team, October 2009 56 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam CHAPTER IV: DIFFICULTIES, CHALLENGES AND RECOMMENDATION 4.1 Difficulties & challenges Actually, in order to be No.1 market share in Vietnam market, LG will face many difficulties in the process of implementation The main difficulties listed below: • Supply chain management: SCM is the most important process in trading companies The accuracy of PSI will affect directly the success of a company So exact sales forecast must be required Because the wrong forecast can make brand face some serious issues such as product shortage, long-term inventory, management cost increase, price down All these issues will make company lost profit • Manpower with lack experience: Currently, working environment in electronics companies in general and LG electronics Vietnam is not attractive one due to salary and bonus level, therefore, they move to other trading companies for higher salary after 1~2 year Now, low experience age of manpower is one of the most challenges • Tough competition: Vietnam is one of the potential markets with high growth Most of brands are trying to increase market share in this market Beside four big electronics brands as Samsung, LG, Sony, Panasonic, and Toshiba, there are some other brands, which also want to cultivate Vietnam market such as TCL, Sharp, and JVC All of them re-enforce aggressively marketing activities to gain market share in the recent time • Power of key modern channel: recognize that modern channel now is a trend and play an important role in the development of electronics field That is the reason why almost brands focus on modern channel Moreover, it make modern channel more powerful than brands Therefore, they can negotiate with each brand about price and quantity to deal In addition, it leads to price down and make a big loss to electronics brands In the other side, the tough competition among accounts in modern channel also make price down trend 57 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam • Brand awareness: although LG brand is increasing brand awareness ratio in the recent years However, it is still inferior to the main competitor Samsung and other Japanese brands such as Sony, Panasonic, and Toshiba Brand awareness cannot increase in a day and need a lot of time to make people believe in LG brand • Economic recession: The year 2008 and 2009 witnessed the global economic recession In some respects, it affects directly Vietnamese consumer pocket and psychology Although the second half of the year 2009 witnessed the economic recovery, that recovery still showed fragile and unstable • Fluctuation of exchange rate: The high fluctuation of exchange rate is one of serious issues to electronics companies The risk of Vietnam Dong devaluation will make brands lost more profit, especially in the field of flat panel display 4.2 Recommendation • Upgrade SCM system: A system of SCM should be set-up It is recommended that LG electronics Vietnam should apply SCM from other subsidiaries, which have advanced system to forecast, planning, manage well by region, product, and model • Create an attractive working environment HR department co-work with sales and marketing team to analyze the labor market in general, competitors’ working environment, and the reason why people leave LG Then, there are some points which LG should consider to: (1) balance salary with labor market level; (2) keep talents by adjusting bonuses, incentives base on their performance and potential growth; (3) organize workshop to solve current bottleneck at job; (4) give more training, especially overseas training, for members (6) hold awarding ceremony for best performers • Healthy competition: LG should pursue a corporate and long-term strategy So marketing strategy must prepare in advance and have a clear goal We need to trade off between the targets: sales growth, market share, and profit through GTM modules to guarantee the stable growth, effective investment 58 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam • Power of key modern channel: Account Planning and Account Planning (ASAP) must be applied for each account in modern channel Through pre-planning, we can help LG accounts to get more profits and avoid unhealthy competition • Brand awareness: Brand awareness could not gain in a day, therefore, some activities should be done such as social community relation • Overcome economic recession: the information of macro economy, government policy changes, and market information must be shared and analyzed the effects of these Through these, top management can adjust the direction properly to avoid the bad influence from economic recession In the other side, LG must continue to reduce unnecessary costs, enhance the effectiveness of marketing activities • Fluctuation of exchange rate: A system of exchange rate forecast and management must be set up by financial department to avoid the risk of exchange rate changes There are only some recommendations I want to raise in the scope of this thesis Be a member of marketing team in LG electronics Vietnam, I would like to give more recommendations to improve LG’ status and help LG gain No.1 position in the future 59 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam CONCLUSION Flat panel display market demand increase fast in the recent years and have a big potential for brands to gain market share and profit So flat panel display become one of strategic products to electronics manufacturers LG Electronics Vietnam have many advantages in this market, however, for some reasons, it still is at the rank No.3 with 19% market share only Therefore, the main target now is segmenting, targeting and re-positioning to recover the No.1 position in the past In order to so, LG electronics Vietnam is facing so many difficulties and challenges However, with right strategy re-positioning based on product, price, place, promotion, and people, hopefully, LG Electronics Vietnam will gradually increase market share and will be No.1 position in 2012 60 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam Annex 1: Product Decoration Annex 2: Leaflets 61 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam Annex 2: Leaflets Annex 3: Road shows Annex 4: Product Training and FSM Workshop 62 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam REFERENCES AC Nielsen, April 2009 Vietnam Flat Panel Display Report Marketing [MO], 2006 Strategic Marketing Process Gfk Company, October 2009 PTV report in October Gfk Company, September 2009 Gfk market insights in Vietnam Dr Tran Minh Tuan, The National Institute of Post and Telematics Strategy, Ministry of Information and Communications September 2007 Radio and Mobile Development Strategy in Vietnam LG Task Team, Sep 2009 LGEVN Business Review Mc Kinsey and Electronics Vietnam General Market Understanding of MC & TV LG marketing team, Sep 2009 Retail Price Comparison www.lge.com.vn 10 www.marketingMO.com 11 www.vneconomy.com 12 www.sony.com.vn 13 www.samsung.com.vn 14 www.panasonic.com.vn 63 ... recommendation in the process of implementation Conclusion Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam Re-positioning strategy for LG’s flat panel display to. .. recover No.1 market share in Vietnam CHAPTER III: RE-POSITIONING STRATEGY FOR LG’s FLAT PANEL DISPLAY TO RECOVER NO.1 MARKET SHARE IN VIETNAM 3.1 Vision of LGEVN’s flat panel display market LG... in Vietnam, Sept 2007 25 Re-positioning strategy for LG’s flat panel display to recover No.1 market share in Vietnam remarkable growth rate (200%) Market demand is forecasted to be increasing in