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LG Electronics Challenge: Increasing Brand Preference in the Smartphone Market

63 Submissions
$10,000 USD
Challenge closed

Challenge overview

With an increasing number of consumers purchasing their smartphone devices outside of the packages being sold by operators, brand perception, relevance and preference gain more importance. Therefore, the Seeker is looking for strategies to increase their brand preference and relevance in the premium segment of the Iberian smartphone market.

This is an Ideation Challenge with a guaranteed award for at least one submitted solution.

                           

In recent years, the Iberian (Spain and Portugal) smartphone market has observed a change. Traditionally, sales were driven by the offering of the mobile network operators (“carriers”), whereas in the past 3-4 years more consumers acquire their devices independently from the carrier package in retailers or any point of sale. Therefore it is more important than ever to understand what drives consumer decision making and develop strong brands that provide a competitive edge.

LG seeks strategies to increase their brand preference and relevance in the premium segment of the Iberian smartphone market.

This is an Ideation Challenge, which has the following unique features:

  • There is a guaranteed award.  The awards will be paid to the best submission(s) as solely determined by the Seeker. The total payout will be $10,000, with at least one award being no smaller than $5,000 and no award being smaller than $1,000.
  • The Solvers are not required to transfer exclusive intellectual property rights to the Seeker.  Rather, by submitting a proposal, the Solver grants to the Seeker a royalty-free, perpetual, and non-exclusive license to use any information included in this proposal, including for promotional purposes.

Submissions to this Challenge must be received by 11:59 PM (US Eastern Time) on May 13, 2018. Late submissions will not be considered.

After the Challenge deadline, the Seeker will complete the review process and make a decision with regards to the Winning Solution(s). All Solvers that submit a proposal will be notified on the status of their submissions; however, no detailed evaluation of individual submissions will be provided.

ABOUT THE SEEKER

LG Electronics is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing 75.000 people working in 118 locations around the world. With 2016 global sales of USD 47.9 billion, LG comprises four business units ― Home Appliance & Air Solutions, Mobile Communications, Home Entertainment and Vehicle Components ― and is one of the world's leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators.

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