1) Discuss how Samsung achieved they have adopted in the global marketplace based on the 4Ps of the marketing mix? Do you justify the Samsung strategy of redefining brand is giving fruits in today’s technology driven marketplace.
Samsung achieved their goal and become a successful brand in global market based on many strategies; 4Ps is one of the strategies that Samsung used. When companies started business, they have to look at what are they going to sale, who is their customer, how much they going to cost their product, and where they are they going to sale.
4Ps or as know as marketing mix is the tools for any business, so what is 4Ps? 4Ps is the most popular tools that focus on 4 things as shown in the picture.
In product section, Samsung focused at electronics products such as LCD, laser printers. Moreover, Samsung tried to present another product to the market. Electronics product as MP3, and small gadgets was introduced to the market. Next is price, Samsung pricing their product different price for different targets. It has been show on case study that Samsung have goal to get a bigger piece in electronics market in Canada, so they had work on how to expand their brand in Canada. The last is promotion, Samsung had developed promotion in U.S., and also Samsung had new technology like HDTV to impel sales for their brand.
On the hand, it does not mean that Samsung achieved their goal because of using Marketing mix. As Samsung impel their brand to be well-known they have sponsorship strategy by using TOP plan.
Samsung become a large sponsor in Olympic Game since 1988. The world top brand like Coca Cola, IMB and other also use this strategy to build brand image. In the next Olympic Games that held in Asia, Europe, America,...
... middle of paper ...
... to achieve before figuring out how you're going to achieve it.”
Samsung’s achievement is to take leader rank of the electronics market from Sony who had occupied consumers electronic market over twenty years.
The point of successful in the business is not only just getting huge among of profits from product but to present product to consumers and become well-known brand is more important for the small market share in electronics markets, the process increase sales and make product spread all over Canada and the electronic consumer will see Samsung in electronic retails shop and this will make product become will known. Also the low cost strategy will attracted consumer and promoted products to the market. This will bring company to growth in the electronic business in the future. , so this would said that Samsung used long term strategy for their business.
Samsung as a company was founded in 1938 in Korea. 46,500 employees are working at six Samsung Electronics facilities in Korea. Although they are at different locations, all share the same goal and that goal is satisfying global customers by producing a quality product. Here in the U.S. Samsung is a very recognized brand, sitting along side Sony, Panasonic, Phillips, Toshiba, Matsushita and other more know brands of TVs. In South Korea, Samsung was a governmentally subsidized large business until in the 1990’s. In the mid 1990’s one of the most significant threats to Korean corporations was that their major advantage in low labor cost had been deteriorating against the labor costs in many of the competing Southeast Asian countries. The average wage of $1,144 a month that Korean workers earned was one of the highest wages paid in Asia outside of Japan. Korea had been the low cost labor supplier until the point at which The Peoples’ Republic of China entered the competition for manufacturing of color TVs. The low cost of labor in China would cause Korea’s position being the lowest cost provider to be a position that was in danger. The Korean government at this point was discontinuing subsidies and export credits to Korean manufacturers and at this time the Korean products which had been the low end market
With this strategy the company wanted to keep a high market share in each segment with a healthy Contribution margin, this with the objective to have the most cumulative profits at the end of the competition. The company executed a Broad Differentiation strategy by offering the best products in every segment along with a focus in accessibility and awareness in order to keep customer survey score in the positives.
Sponsorship plays an essential function in the running of the Olympics. Money from sponsors is used for administration, travel and accommodation for the athletes and officials, communication and equipment. In the Barcelona Olympics of 1992, there were 44 companies included in The Olympic Programme (TOP). The commercialisation or Americanisation of the Games involves many multinational companies like McDonald's, who have been involved with the Olympic Movement since 1976 when it became an official sponsor of the Olympic Games in Montreal. McDonald's joins The Coca-Cola Company, Kodak Company, Sema Group, TIME/Sports Illustrated, Xerox, and VISA as TOP V sponsors, to name a few.
Promotion: Promotion doesn¡¦t only mean discount in prices, as they cooperate with Super Sport Star to let these famous player to present their product for them, sometime they held up event to give the customers the chance to meet with these super sport player by providing a chance to draw for the ticket after the customer purchasing amount meet the requirement. This will help the company to boost their sales, which at the same time can further promote their brand as an advertisement.
342). It is hard to identify one or two of the seven elements of service marketing mix that may have had the most impact in the LA Galaxy marketing program. Of the seven elements of the service marketing mix, I believe the Galaxy marketing team have utilized four elements effectively to provide a maximum return on investment (ROI). The four elements people, product, price, and promotion are the elements I believe have had the most impact for the LA Galaxy franchise, with people being the most important of these four
The Olympic Games is an international sporting event held world wide every four years. It is one of the most important sporting events among the best athletes of todays world. Being viewed on television by millions of people across the world, It is not a surprised that it attracts some of the most recognizable brand names as official sponsors. In the 2012 London Olympic Games, Proctor and Gamble also known as P&G created a global campaign called “Thank You, Mom” to celebrate the support and work of Olympic athletes mothers. This advertising began with a commercial called “Best Job” that offered a glimpse view of how the mothers of the athletes putt in hard work to help their children achieve their Olympic dreams.
Lamb, C. W 2010, Marketing (4th ed.). Cape Town, South Africa: Oxford University Press Southern Africa.
This work will determine the baseline of the current market situation for the company, which is essential for any further exercise and analysis. To understand how the business model correlates with the product marketing, need to see if there is any evident cause-effect relationship between product characteristics and the nature of the product company. If such correlation exists, it will be important to see the transition of such characteristics into the company marketing strategy. It can show how company’s strategies can be successfully addressed in a real-world scenario. Both internal and external analysis, SWOT matrix will help to determine the company’s current market position.
emerging or new market. It can originate from new technology or new market opportunities (Eliashberg, J., Lilien, G. L., & Rao, V. R. 1997). Literature defines product development as exploiting an untapped market opportunity and turning it into a value product for customer satisfaction. Development and introduction of a new product requires extensive research on understanding customer needs, market structure, emerging trends and analysing the internal & external competitive market environments. To evaluate customer satisfaction previous researches provide strong relationship between customer satisfaction and product quality, product features and value for money. ***
My partner Faris and I did a presentation during the term 2. I will talk about my experience of introducing my presentation on the topic of Samsung marketing mix(4Ps).We used a long time to prepare this presentation.First we need to choose one product or service to research.We choose the Samsung which is a famous mobile brand.The reason why we choose this brand is Samsung is a South Korean multinational conglomerate company,but it has a not good marketing shares in Britain.We want to use the 4Ps marketing mix to improve the Samsung’s marketing shares.Then we designed our questionnaire.I think the most important section ,because all of data is from the questionnaire.If you do not design a good
Another aspect is price. Under the 4Ps approach price could also become a competitive advantage. For instance, if the product is not unique itself, a certain pricing strategy, such as price reduction, could potentially sell the product.
...sses, once the marketing strategy is in place; the business will be successful in the future. Systems are put in place to obtain market feedback which measure success against short-term targets. The marketing mix plays big role in any marketing’s business strategies. This means that the 4P’s, Price, Promotion, production and place.
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.
Samsung has the widest range of product portfolio that include: Mobile phones, home appliances, TV/Video/Audio, tablets, PCs, printer, camera, camcorder, periphe...
Prepare an essay comparing and contrasting a 4-P (price, product, place and promotion) approach to marketing versus the value approach (creating, communicating, and delivering value). What would you expect to be the same and what would you expect to be different between two companies who apply one or the other approach?