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The Importance of Social Media Marketing
The Importance of Social Media Marketing
The Importance of Social Media Marketing
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________________________________________ Introduction: About the Samsung Gear S3 Classic The Samsung Gear S3 Classic was one of the two Samsung Gear S3 watches released in November 2016, the other model being the S3 Frontier. The Samsung Gear S3 Classic is dust and water resistant and has GPS capabilities. The touch screen smartwatch also has a heart rate monitor and steps tracker. It has Bluetooth and cloud functions, so messages, emails, and alerts are receivable without using a phone. The built-in speaker and microphone allows hands-free calls. The straps on the smartwatch are leather made and the timepiece is made of mirrored metal. The battery life is about 3 days. The watch goes for a price of about SGD$456. …show more content…
Consumers normally buy the smartwatch to use it for their own private purposes. Customers influence the sales and marketing because of their changing preferences and ability to buy the product. What customers like or can afford one week might be what they dislike or find too expensive in another week. Therefore, the sales and marketing department of Samsung has to carefully follow the trend of consumers’ willingness and ability of buying the watch and has to advertise and sell the watch to the correct category of consumers at the correct price level. For example, if customers have the money and willingness to buy the S3 Classic, Samsung should then make more effort in marketing the smartwatch then at that time as sales will most likely be higher. This example shows that customers are a significant factor in the microenvironment that heavily influences the sales and marketing of the …show more content…
It can also impact the development of advertising tools. Through the technological environment, Samsung can get statistics of buying patterns of consumers, marketing opportunities and online platforms to get in touch with consumers. This has an effect on sales and marketing of the S3 Classic as it provides Samsung with information it can use to come up with marketing strategies. Connections with consumers strengthen as platforms in the internet can be used for communication and feedback about the smartwatch. However, technology may pose as a threat as it will help Samsung's competitors too. This results in an increase in competition and may affect sales and marketing strategies of the watch if competitors are do well to market their smartwatches. Samsung may have to come up with better ways and find other platforms for advertising. Therefore, Technology is a major factor in the macroenvironment that influences the sales and marketing of the S3
Swatch as a watch manufacture company was established 1983 by Nicolas Hayek, and their main products are quartz watches, also sell some mechanical watches. Until 2014, it already hold 18.3% of market share. (Tesla, 2014) But with the development of new technologies, smartwatch has become more popular than traditional watch. As a watch manufacturer, they have to stick with science and technology development, and understand what consumers interested in. (Sharp, 2013, p.186,187) Therefore,in August this year, Swatch as one of the watch leading industry has launched their first smartwatch in US, China and Switzerland, which is called touch zero one. Hence, this report will explain this marketing issues by micro and macro environment, segment marketing, advertising and marketing research to explain this marketing issue.
These consumers usually involve themselves in a longer decision making process in order to make rational and logical decisions, rather than emotional or impulsive purchases in order to avoid wasting their hard earned money. Other psychographics targeted by Breitling are to those who would purchase a Breitling Avenger Hurricane wrist watch in order to showcase their success and show off to those around them. They are motivated by their desire to be successful so they have the ability to “brag” to their friends about it. Lastly, most consumers reasoning for making such an expensive, luxurious purchase is for self pleasure. This means that they are willing to pay a premium watch so they can best express their individuality and show off their monetary
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.
This report will analyze and discuss the most important elements of the marketing environment for the launch of the iPhone, that is to say the main three levels of the marketing environment: the micro-environment through the customers, competitors and distributors, the macro-environment through technological, economical, social, political and environmental forces and finally the internal environment through the relation of Apple with its employees and its marketing philosophy. The analysis for the micro-environment is based on Porter’s 5 forces model and the one on the macro-environment is based on PEST analysis. The report will also give an interpretation for each of these aspects, a conclusion with a rating of the attractiveness of the UK current marketing environment in which the iPhone is launched.
Joan and Julie also talked about timing. Timing is one factor that affect a product. When market is ready, no matter how good is your product, it will not gain a big market share. For example, if someone launched iWatch twenty years ago, I do not think people want to buy it. The product is too advanced for them. People do not need it back in that time. Compare to now, we need that kind of product and people are familiar to use electronic advices. People have desire for those product, so iWatch has a much larger market now.
Marketers study the family life cycle to better predict the demand of the present and future consumers. Learning the changes in the preferences and needs of the whole family that take place due to the current trends helps marketers making more accurate assumptions in regard to the future market demand of smartphones. For example, in order for smartphone marketing to influence the young customers and be involved in their lifestyle, marketers must understand the family life cycle, and changes the family household go through regarding income, number of children, the age of children, lifestyle changes like the way they communicate, and other changes and trends, and make more accurate assumptions regarding the changes of needs and expenditures.
The current stock holding period in the luxury watch sector is 8-9 months which is very normal in consistent to other luxury watch players in the same segment. Recent studies by Google, show that in India 75% of the cars are bought are researched online. A similar policy also works in the mind of prospective customers who are looking for luxury watches. With customers becoming more Internet savvy with each passing day, they research online and gather knowledge of the whole range of the products in a particular brand. Thus, to cater to all customers, we need to keep the whole range of stock for each brand,to positively influence the buying decisions of the customers. Thisin-turn leads to a biggerinvestment in
Product differentiation – by offering different products, services, or product features, the company can charge higher prices, or appeal to different audiences. Use of IS have enabled new products and services, that increase the levels of convenience in using existing products and services. By acquiring PayPal, eBay greatly enhanced the ease with which customers can pay for their products. Google keeps an innovative approach towards search engines, by introducing Google Maps, Google Translate and others, which improves the ease of usage. Using online live chatting systems and social networks contributes to understanding of customers. It also adds value and improves customers’ stickiness to website (Booth, Roberts, and Sikes 2011)
The economic factor also directly affects Rolex because, the better the economy, the more people will be willing to spend that extra buck on a Rolex wrist watch. III.G: CONSUMER DECISION PROCESS
The first mobile cell phone was released by Motorola in the year 1973 although it was not technically a mobile phone,. They were two-way radios that allowed people to communicate. This was important because it did not have to rely on base stations with separate cells, the first mobile phone network involved a powerful base station covering a much wider area. There are many people who say they cannot live without, let alone, think about not having a cell phone in their lives. Cell phone are a big part of our society today because of how much people rely on them in their everyday lives. It is rare nowadays to hear someone say that they do not have any type of cell phone. Ninety-one percent of Americans in America have some type of cell phone.
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.
Today 's generation is all about social media. It is the new way to have instant connection to thousands all over the world. Today 's company are now doing less traditional television, radio, and print advertisement and more promotion via Twitter, Facebook and/or Instagram. Companies are invested in getting famous people to post pictures or tweet about their products, knowing that, one person can connect with millions with just one post. Over half of the world has access to social media, making them great consumers. Social media benefit marketing by giving the companies the opportunity to learn their audience/consumers, having access to instant feedback and bring awareness to here product.
The year is 2014, the markets are changing constantly, and they always have to meet the needs of new consumers as well as old consumers. Mobile telephones have been in the retail and wholesale business for quite some time, and are only evolving from here on out. There are things that these cell phones can bring us that are major benefits in our everyday lives. Cell phones bring us maps, radios, address books, and even flashlights now. Cell phones have taken shape from a huge portable device to a more convenient thin device that can fit in your pocket. With time in any consumer market, the consumer adapts to the technology that makes their life easier. The constant innovation of cell phones has led us to smart phones, and these smart phones are capable of putting certain businesses out of the market. Businesses that engineered PDAs in the past were met with challenges because smart phones are able to match their productivity. Land lines have become useless since everyone can afford a mobile device now. Listening to music has also switched from a traditional CD Player/MP3 Player to an everyday smart phone.
Digital marketers must keep up-to-date with the consumers preference, trends and needs, in order to meet these needs and to be able to remain competitive in the market . The connectivity created by digital media leads to enhanced product benefits such as online games and applications (Pride & Ferell, 2014). However, the use of the internet to sell products could be a disadvantage to the business since the goods being sold are intangible, the consumer could research and find reviews describing a product as low quality which could result in sale losses (Brand Driven Digital, 2013).
The research on consumer behavior assists the organization recognize and forecast the purchase behavior of the consumers while they are purchasing a product. Thus, the study of consumer behavior helps the marketers not only to understand what consumer's purchase, but helps to understand why they purchase it (Kumar, 2004). There are a lot of elements which can influence the purchase decision of consumers such as social influences, cultural influences, psychological factors and personal factors (Super Professeur, 2011). Understanding these factors helps the company to market the product on right time to the right consumers in order to generate more profits. On the other hand, if the marketers fail to understand these components that might influence consumers, they will fail to convince the consumers to purchase that product or will fail to meet the demands of consumers. However, consumer behavior is one of the stimulating and challenging areas in marketing studies being a human activity focused on the products and services. Thus understanding the behavior of the consumers is a great challenge. Moreover, it is not easy to get a full picture of consumer behavior as customers make plenty of different buying decision every day and they usually do not know exactly what influences their purchase. In short, basing on all