Earlier the brand saw its home entertainment division sink more than 80% because it had to sell televisions at a lower cost and higher marketing costs because of tougher competitions.
Lawrence Chong, CEO of brand agency Consulus said that rather than adding on a tagline, what the brand should really rethink is the way it interacts with the customers.
If you look at their website, he said, it still has the persona of a well-groomed TV salesman rather than one who is setting a vision for the future.
It talks about innovative products in silos rather than setting forth a cohesive vision,” he said.
Chong thinks that the new identity might just be a wasted opportunity as the new brand identity campaign is filled with jargon without specifics on how it will reshape the way they interact with customers.
“Whenever a brand is confused, it tends to come up with more taglines to buy time,” he said adding that this is because executives are afraid of losing the existing goodwill.
“I believe it is not easy for LG as it is under a lot of pressure. So, good news for ad agencies getting more business but bad news for the brand, as it is a stop-gap measure.”