1. Introduction
The following marketing plan will set out to establish ways through which Samsung will be able to present and market itself to ensure that it appeals to a variety of consumers, in the processing meeting its own objectives and its promise to its consumers. To any company marketing is a very important element that helps a company to achieve profitability and financial objectives. Samsung is renowned as being of the largest companies dealing with the production of electronics products such as; computers, DVD’s, laptops and also dealing with the production of mobile telephony devices. This plan will be a 12 month plan that will include a critical analysis of the situational analysis of the company, incorporating the internal and external environments. The plan will also help identify a specific consumer target market for the company, while also reviewing the competitive environment that Samsung faces in a quest to being the best electronic company in the world. Further, the plan will also establish specific objectives that it will be seeking to accomplish within the one year period that the plan will be in operation. However, owing to the different products that Samsung has in its production line, this plan will select only one item as the centre of attraction and this will be the marketing of the latest gadget in the mobile telephony industry the Samsung S5 successor of the famous Samsung S 4.
1.1 Background
According to Burris (2014) Samsung is a South Korean conglomerate that mainly concentrates in electronics, heavy industry, construction and defense. The company started out in 1938 and has continued to grow from strength to strength and its currently rivaling some of the largest electronic and mobile telephony co...
... middle of paper ...
... a steady increase of new consumers at 5 percent per year
c) To ensure that that the Samsung S 5 will be the most preferred mobile smartphone. Ensuring a 100 per cent satisfied consumer feedback with the year.
3.1. Marketing Strategies
As mentioned earlier, marketing is a very important element for any business both new and seasoned businesses. The following are the various marketing strategies that Samsung will adopt moving forward.
a) To actively employ the use of social media to ensure that Samsung S 5 is bought and distributed worldwide.
b) To carve a new market niche for the Samsung S 5 instead of relying on the same consumers that have experienced the Samsung S 4 before.
c) To rely heavily on the use of word of mouth as great marketing tool that will ensure that customer satisfaction is guaranteed and maintained while improving sales for the product and brand.
Samsung is Apple’s biggest competition when it comes to phones especially between Apple’s iPhone 5s to Samsung’s Galaxy S4. They are both very popular among consumers, but they are differently different from each other. It is an endless debate on which one is better, but it really comes down to which one is better for you as a consumer. There are good and bad issues with both phones such as with the Galaxy S4, the TouchWiz Ul remains a clumsy construction and lacks overarching design language, but the good thing about t...
Samsung will also include consumers, as key external stakeholders, in the research and development focus groups to best incorporate consumer opinion and demand into areas of the project including development, marketing, and distribution. This will help Samsung create and deliver a product that the customers want. It will also help identify consumer needs for the new smartphone’s use as consumer inputs will help shape and drive the technological innovations that Samsung is aiming to deliver with its new smartphone.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Marketing is not just about selling and advertising products and services. In general, marketing is associated with identifying the particular wants and needs of a target market of customers, and then working to satisfy those customers better than the competition. This involves doing market research on customers, analyzing their needs, and then making strategic decisions about product design, pricing, promotion and distribution or place (Bethel, 2007). Understanding ways to identify the target market is crucial in developing market strategy. This paper is intended to define target marketing and examine a market analysis of Stacy's Pita Chip Company.
Marketing creates a healthy competition with other competitors which enables the company to remain in good relationship with the customers.
Samsung demonstrates its use of ethos by partnering with some celebrities and promises lowest prices to those who are going to shop it in the Samsung’s stores. They show a video of a famous business man chatting with a young girl through the Samsung Galaxy Note 3 while on his way to a hotel in California, where he will be attending live the Ellen’s show. The users of this device cannot only chat on it, but they can do whatever they like to, anywhere without actually worrying about the battery. The corporation offers a great deal to his customers by givi...
If you ask anybody in the world today they will tell you that we live in a world where technology is at the core of human life. We use technology for everything today. From processing food we eat, to being social, to transportation, everything we do has some relation to technology. No technological innovation though has become so popular as the one we use to communicate with daily. The Smartphone. First starting off as foot long cellular phones which could be seen a mile away to present Smartphones which we cannot seem to live without. Smartphones have changed the way that people live. Today you can see just about everyone on a Smartphone even children, which just comes to show how popular and demanding Smartphones have become. In fact, Smartphones have become a true necessity in the lives of people everywhere. There are many types of Smartphones out there. Some of the major phones include devices such as Apple's iPhone, HTC's One, and LG's G2, but only a few have made such a huge technological impression in this industry such as Samsung has done with its Galaxy and Note, two of the most popular Smartphones right now. We all have heard the name Samsung at some point in our lives. Maybe from the televisions they create or even from the chips they produce. The truth is that Samsung is a technological giant who has been around for many years, an empire, which continues to grow. A company whose mission is to "Inspire the World, Create the Future."
Samsung is an innovative company that focus highly on quality and specialised products, they became an electronics company in 1969 and they released their very first mobile phone in 1988. In 2006, they became the global leading brand within the television market and in 2011, they became the latest smart phone provider in the world and their successful innovation is furthermore expanding. Today Samsung Electronics has proven to be one of the most successful global brands to follow.
Marketing is a fundamental aspect of all businesses, whether they are set out to make a profit, or charitable organisations - they will have to carry out marketing research of some description. It has been described as being, “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” (Chartered Institute of Marketing) This essay will explore the role of marketing in a marketing oriented business and different aspects of the external environment that a smartphone company should be aware of. The points raised throughout will be supported using relevant journals, textbooks and newspaper articles.
According to Kotler (2012), Marketing is about identifying and meeting human social needs, thus it is not only about advertising and promotion it is more than this. It includes setting competitive price, communicating effectively with potential and existing customers and also introduction of new products.
This case study analysis is on Samsung Electronics Company (SEC) and how it has climbed up the ranks in the past decade via calculated marketing strategies, extensive market research and analysis, and a risky bet on how the market will evolve. Samsung’s principle outlook took time and education from within and thereafter the general market.
The Samsung Company is one of the leading companies in the world today. It traces its roots back to 1938 when Lee Byung-chull started a small trading company in Su-dong, South Korea that specialized in selling goods around the city. Later, the company grew and expanded to Seoul in 1947. With the outbreak of the Korean War, the company weakened and as soon as the war ended, Lee expanded it into the largest woolen mill in Korea. The expansion continued and within the next three decades it had diversified into other bareas, including textile, food processing, securities, retail and insurance. Samsung entered electronic industry in the second half of the 1960s and formed four electronic divisions, namely Samsung Electro-Mechanics, Samsung Corning, Samsung Electronic Devices and Samsung Semiconductors and Telecommunications.
According to Shimp (2007), there are five important factors which determine the purpose of advertisement in terms of marketers’ communication with consumers. He listed these five factors as follows: “(1) informing, (2) influencing, (3) reminding and increasing salience, (4) adding value, and (5) assisting other company efforts.” (p.246). To clarify that, the first most important aspect is informing people which means company needs to enhance the awareness of the consumer about their products by mentioning its advantages and features. Advertising also affect the products in two ways. Firstly, by basic demand, which build consumer desires for old products of the company and secondly, refers to a new brand of the company. In addition, effective advertising can retain consumer’s mind fresh about the image of a brand which develops the trace of the memory where consumers have to choose between two or more products. Moreover, it may change the product quality, create new, well-designed and elegant product and change consumers view towards the product. Lastly, by effective advertising program, company may save money and time as s...
According to this, it is obvious that the objective of marketing is to satisfy demand of customers by those ‘individual and organizational activities’ like promotion or pricing of goods, which are all just means to achieve that. Additionally, organizations could stand out from their competitors once they meet the needs of customers better than others. Thus, it can be said that the successful marketing is to provide competitive advantages for organizations by doing better in satisfying customers’ desires through products and other marketing activities.
In the year 1993, “new management initiative” started transform Samsung from a “cheap OEM” to a high value-added products provider”. At this point, company realized to take the brand to global platform and started thinking the importance of global positioning and the powering the brand. Initially, management targeted to build corporate brand image across 200 countries with focus on 17 selected products. But, in the early period, internal challenges of marketing misconceptions among the top level managers turned down efforts of this visionary growth measures.