The position of LG Electronics as a global leader in electronic received a major boost in a market survey by Decision Support Consulting, a Nigerian research firm.
The survey, which analyzed the electronics market in Nigeria, revealed that LG Electronics (LGE) achieved 26-percent increase in awareness from 19 percent in 2003 to 45 percent in 2004.
According to the survey, LGE's DVD players have a 40-percent brand awareness compared to only 15 percent in 2003. The company's brand awareness in air-conditioners increased to 57 percent from 40 percent in 2003, while washing machines achieved a 21-percent increase from 39 percent in 2003 to 60 percent in 2004. The company's PC monitor awareness increased from 16 percent in 2003 to 30 percent in 2004, and mobile phones achieved 8-percent brand awareness against the 1-percent recognition achieved in 2003.
The survey, which also captured market penetration of electronics products in the country from a sample population of 2,000, indicated that LG Electronics market penetration in various product categories has also moved up amongst users. LGE air-conditioners had a record 15-percent market penetration in 2004 against 5 percent in 2003, while the washing machine category registered 6-percent penetration against 4 percent recorded in 2003. (This Day, Lagos)
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