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College of BusinessCommerce News

June 18, 2002 -- News Brief

IDM Program Sponsors Retail Management Briefing

The college's Industrial Distribution Management Program hosted executives from the Korean Sales Division of LG Electronics June 10 through 14. In cooperation with Professor Jaewook Kim, associate professor at Korea University, fourteen managers from LG Electronics spent four days on the University of Illinois campus examining and discussing retail trends in the United States and abroad.

Firms abroad often want to benchmark their performance against firms in the United States. The management briefing provided by the Illinois faculty on retailing trends allowed managers from LGE to compare their supply chain strategies and policies with trends and practices of US retailers. Professors Kent Monroe, Cele Otnes, and William Qualls, all in the department of business administration and members of the marketing group, presented the latest practices on promotional pricing, retail advertising, and retail branding. The marketing group plans other management briefings in the form of workshops, symposia, and conferences throughout the rest of the year.

In addition to visiting major retailers in the Champaign and Chicago area, LGE managers were able to spend time with executives from retailers Sears and Best Buy and from Marketplace Mall in Champaign. LGE managers commented on the helpful balance between theory and practice in their briefings.

LG Electronics (LGE) is a major global player in electronics and telecommunications, operating 72 subsidiaries around the world with over 55,000 employees worldwide. LGE focuses on Digital TV, CD-RW, DVD, CD-ROM, DVD-ROM Drives, PCs, Monitors, Mobile Handsets, CRTs and PDPs. The company is strengthening core competencies even more to further its reputation as a digital leader in electronic products and equipment in the digital era.

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