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Methods of Analysing Marketing Strategy: Elements of Marketing Mix of Samsung

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Samsung Hardware initiated its tasks in India in December 1995 and is today a main supplier of Shopper Gadgets, IT and Telecom items in the Indian market. Samsung India is the Provincial Central command for Samsung's Southwest Asia activities, which furnishes work to more than 45,000 representatives with around 11,500 workers being engaged with Research and development.

Samsung started activities in India through its assembling complex situated at Noida (UP), which today houses offices for Shading TVs (counting 3D, Drove and LCD TVs), Cell Phones, Coolers, Clothes washers and Split Forced air systems classes. Samsung started activities of its second best in class fabricating complex at Sriperumbudur, Tamil Nadu in November 2007. Today, the Sriperumbudur office makes Shading TVs, Completely Programmed Front Stacking Clothes washers, Iceboxes and Split Climate control systems. Samsung India has three Research and development Focuses in India– two in NCR and one in Bangalore. While the Noida Research and development Focuses creates programming answers for top of the line TVs, for example, Plasma televisions, LCD televisions and Advanced Media Items, the other Center is occupied with Research and development answers for item equipment. The Bangalore Research and development Focus takes a shot at significant undertakings for Samsung Gadgets in the region of telecom, remote terminals and foundation, Systems administration, SoC (Framework on Chip) Advanced Printing and other sight and sound/computerized media just as application programming. Samsung India has won a few honors and acknowledgments for the two its corporate activities just as its item developments in Various media, Home Machine, IT and Telecom Item classifications.

Aside from advancement of inventive innovation, Samsung places extraordinary significance on going about as a dependable corporate native in the networks where it works. Its CSR programs react to the social and ecological needs and try to offer back to networks that help the organization. In 2009, Samsung propelled the organization's Corporate Social Obligation activity Samsung Expectation Undertaking' with ventures in the regions of instruction, culture, sports, social welfare and network improvement. Each program, under the Expectation Venture, particularly addresses the requirements of individual networks while stressing on advancements for improvement of the network including instruction, innovation, building and IT specialized preparing. The Organization's CSR activities, for example, Samsung Savvy Class and Samsung Specialized Schools have been perceived by a few rumored associations, and the Organization has won honors from these ventures went for offering back to the general public.

Literature Review

In 2014, we invested KRW 15 trillion in R&D to lead industry innovation as we continued to expand global R&D centers and recruit top talent. Our New York and Silicon Valley-based Open Innovation Center extended our reach, enabling us to secure outside talent and technologies. Those forward -looking estimates energized amazing execution and started prevalent advances, including large scale manufacturing of the world's first 20 nm Measure and V-NAND with 3-bit innovation; the dispatch of a cell phone with the world's previously bended presentation; wearable gadgets, for example, Samsung Rigging S and Apparatus VR; and growing new IoT (Web of Things) innovation dependent on programmed ID innovation that uses assorted sensors. We additionally strengthened the establishment of our innovation authority and supported future development by enrolling 4,952 US licenses in 2014, the No. 2 world record. Furthermore, we kept up our profile as a creative organization with 36 CES 2015 Advancement Grants and with the No. 3 positioning on the Boston Counseling Gathering's rundown of The Most Creative Organizations 2014 around the globe. Additionally, we were positioned No. 7 on Interbrand's The Best 100 Worldwide Brands 2014, with an expected brand estimation of USD 45.5 billion. Fortune recorded Samsung Hardware as No. 13 on its rundown of the World's Most Respected Organizations 2014.

Going ahead, we foresee waiting vulnerability on the planet economy attributable to an expansion in US loan costs, monetary retreat in the Eurozone and money related dangers in rising nations due to the sharp drop in raw petroleum costs. Rivalry in the gadgets business will turn perpetually wild as development keeps on abating in our key item advertises. All things considered, we are readied. Our accomplished sound administration and unrivaled testing soul will empower us to successfully react to the quick changing business condition. In the first place, we will reinforce our intensity and benefit structures in existing business zones. In our center regions, including memory chips, televisions and cell phones, we will sharpen our upper hands as we center around creating premium items and fortifying innovation initiative. Our best positioning in the Memory Business is completely upheld by our predominant innovation. In televisions, we will feature our exceptional image control with a focal spotlight on SUHD televisions. In the Portable Correspondences Business, we will lead the top notch advertise with the System S6 and Cosmic system S6 edge, while likewise propelling separated items for mid-and low-estimated markets. That technique won't just keep up our predominance in cutting edge advertises yet in addition fuel development in rising and low-estimated markets.

Objectives And Methodology

Objectives

  • Primary objective
  • To find the past sale growth and demand analysis
  • Secondary objective
  • Market structure analysis
  • SWOT analysis
  • Competitor analysis
  • Performance evaluation

Methodology

In this study I have followed descriptive method of study. Here project analysis is made by collecting secondary data from different websites, journals, etc.

  • Secondary information's are pre-distributed and research data's gathered from various sites, journals , papers, organization inquire about papers.
  • These archives and information's are extremely helpful for the theoretical, conceptual and company’s background analysis.
  • Detailed examination of information's is made by plotting graphs and tables which can be easily understandable.
  • Then by watching these graphs we have made our conclusion and recommendation.

Samsung Marketing Strategy

Samsung has an immense item portfolio and its essence is in a few distinctive item classifications. The brand picture driver for Samsung are the Samsung Cell phone's, for example, the Samsung note series or the Samsung galaxy series. Overall, Samsung is present in the following product categories.

Products in the marketing mix of Samsung:

  1. Tablets
  2. Refrigerators
  3. Televisions – LEDs, LCDs, Plasma TV, SMART TV, HDTV etc
  4. Cameras and Camcorders
  5. Air Conditioners
  6. Washing Machines
  7. Microwaves ovens
  8. IT – Laptops, printers and accessories
  9. Mobile phones – Smart phones, Normal phones

The advantage of Samsung as far as its item is that there is a trust on all Samsung items on account of the way Samsung items have performed over the most recent couple of years. Issues with the items has been irrelevant. Also, with its Advanced mobile phones, Samsung has accomplished a materialistic trifle for its clients. In the meantime, Samsung is known for its administration and individuals realize that Samsung gives a quick administration for any of its item. Thus in the marketing mix of a product of Samsung, the product portfolio is one of the strongest point for Samsung.

Price in the marketing mix of Samsung - On account of its quality in various product categories, Samsung utilizes different pricing strategies. We can partition the pricing strategies and match it with the items that it is used for. Skimming price - Samsung's Smart phone’s are a standout among the best in the market and are the market chief regarding the highlights and USP's that they give. The ongoing Samsung Note 3 + Gear is another contestant in the market which is getting people groups eyes. Subsequently Samsung utilizes Skimming price for these items wherein it endeavors to get a high incentive in the begin before competitors get up to speed. When the model is old or any competitor has propelled a comparative item, Samsung quickly drops the cost.

Competitor pricing - For products other than smart phones, Samsung uses competitor pricing. Television, Refrigerator, Air conditioner and other items have competition in the form of Panasonic, LG. Samsung is known to be an extraordinary brand however it isn't more noteworthy than LG for home appliances. Actually, LG beats Samsung where home appliances are concerned. Also, in Washing machines – Whirlpool, and in Cameras – Cannon, are the brands which are to be beaten. Therefore in different categories, Samsung keeps competitors pricing to beat the competitors. Samsung as a brand barely utilizes penetrative pricing on the grounds that it doesn't enter late in the market. In fact, it is available in most consumer durable segments in the market.

Place in the marketing mix of Samsung - Samsung is available through different diverts in the market. It deals with the channel marketing concept wherein there are three sections. Sales and service dealers, modern retail and distributors. The sales and the service dealer handle key records for Samsung and are associated with corporate deals. These merchants may likewise open selective Samsung showrooms. The Modern retail segment incorporates substantial retailers like Croma, Hypercity, Vijay deals, Vivek's and any other people who are available in the advanced electronic retail chain. Samsung being such a marked item, the retailers will undoubtedly keep Samsung as an option for their clients/customers.

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The Distribution network is the most fascinating on account of Samsung. In a few urban areas, Samsung has a solitary wholesaler through whom they circulate all through a domain. For example – In Mumbai, Samsung has SSK wholesalers who are merchants for all Samsung items. This merchant has an enormous interest in Samsung and both, the wholesaler and the organization, go connected at the hip for the clearance of Samsung's items. Subsequently all material of Samsung will be sold to a solitary merchant who thus will offer it forward to retailers.

Promotions in the marketing mix of Samsung - Samsung uses multiple types of sales promotion. Samsung as an organization trusts in pulling the client to themselves through publicizing or advertising and yet utilizes solid strategies to push the item to the client through sales promotion. Hence on one hand, Samsung utilizes different marketing vehicles over the year covering festive season as well as non festive time. On the other hand, it gives numerous offers and discounts to its trade partners to motivate them to sell Samsung above competition. With such a strategy, Samsung’s brand is on the rise so that both, the pull as well as push strategy is working simultaneously in Samsung.

The marketing mix of Samsung is a lesson to marketers in several points. Firstly, Business will grow if you have a various types of products at once as all these items can progress toward becoming income drivers for your organization. Second, Pull strategy, however costly, is undeniably increasingly useful in the long time.

Advertising

Print and media advertising is one of the center components of the marketing mix broadly used by Samsung Gadgets. The most imperative media promoting efforts incorporate live ads for Samsung Galaxy S3 device on famous Jimmy Kimmel Live show in June 2012 and on Late Night With Jimmy Fallon on July and August of that year. Moreover, partnership with Fox channel in the US to run four 30-second advertising clips during the National Football League, college football and World Series amusements in 2012 have been lauded as productive showcasing campaigns. Samsung print publicizing in well known papers, magazines and journals have recently included direct assaults on its significant rivals, quite Apple. For example, a print promotion campaign titled “It doesn't take a genius” is a cunning play of words on Apple's emphasize on genius branding. The print promotion looks at real functionalities of iPhone5 and Galaxy S III and representing the prevalence of Samsung's item on a few fronts.

Viral promoting is likewise broadly utilized by Samsung as a standout among the best publicizing strategies. For example, the most recent 60-second popular promoting video titled “Anticipation” is an effective endeavor to relate Samsung Galaxy S6 with excitement and sense of achievement and recognition.

Sales Promotion

Samsung utilizes sales promotion as an advertising apparatus all the more broadly contrasted with most of its rivals. It has been evaluated that the organization had spent about USD 4.6 billion on sales promotion during 2013 alone globally, that included USD 888 million sales promotion budget on its home market in South Korea. Clarify that this budget is independent from the marketing budget. Also, Samsung official site contains sales promotion declarations on cell phones, accessories, cameras, back to school offers, as well as, bundle offers.

Samsung Electronics Report contains more detailed analysis of Samsung marketing strategy covering issues of public relations, events and experiences and direct selling. The report also comprises application of SWOT, PESTEL, Porter’s Five Forces and Value-Chain Analyses on Samsung, along with analysis of company’s approach towards Corporate Social Responsibility (CSR).

Brand Positioning

Samsung, when known to be the low-quality specialist organization ever is presently one of the main versatile organizations of the world. Having said that, we can perceive how everything boils down to legitimate brand positioning and innovation, which takes a brand to its apex. In the wake of having a lot of blasts and droops, Samsung concocted new plans to be more customer focused and innovative so as to build up a solid brand image in the worldwide market. As opposed to making ordinary or normal handset gadgets, they began to create smart phones to make up for lost time with their competitors. Their fundamental technique was to give the best quality items so as to meet their customers’ expectation.

They have been continually updating and presenting new series of products, for example – Galaxy Series. Right now they are taking a shot at designing the lightest and slimmest phone of the world, along with a stunning ground-breaking execution to pick up an edge over their rivals. Samsung doesn't have a specific slogan/tagline for the organization in general; they prefer to use unique taglines for every single product. They will in general advance and position their cell phones/note/tab at all the 3 different level of positioning. Two promotion link have been given underneath of their Galaxy Note 4 and Galaxy S6, which indicates all the product characteristics, qualities and advantages that customer may pay special mind to, before they get it. Samsung doesn't focus on a particular section of the market, however for the most part appear to serve the top of the line individuals of the general public, for example – businessman, youth adults.

Samsung Segmenting and Targeting Markets

Geographic Segmentation

Samsung geographic division is around the world, they their phones in 61 distinct nations. They make slight varieties in language and applications yet the physical appearance of their phones is all inclusive.

Demographic Segmentation

  • Age Segmentation: Their target age division is teens, young adults and adults in early and mid 30's.
  • Income Segmentation: Their target pay division is middle class and high class pay.
  • Ethnic Segmentation: Since Samsung moves around the world, they don't have a particular ethic division.
  • Family Life Cycle Segmentation: Their target family life cycle is youth single, youth married or separated with or without children.
  • Gender Segmentation: Smartphones are not gender orientation explicit but rather since ladies shop more than men I would accept they have a greater number of ladies purchasing their phones than men.

Psycho graphic Segmentation

Samsung psycho graphic segmentation includes individuals from teens to mid 30's who like new technology, tech savvy and can afford to buy it.

Benefit Segmentation

When Samsung customers buy their phones the benefit they expect from it is simple appearance, new and updated features and reasonably priced.

Usage-Rate Segmentation

The smart phones advertise has a great deal of substantial customer due to its accommodation, you can call, content, send pictures, play games, tune in to music and surf the web all from a smartphone. Samsung as an expansive level of overwhelming customer who purchases the majority of their most recent smartphones and with versatile administration organization offering redesign plans it makes it less demanding to get the newest phones. There are individuals who goes from one smartphone brand like Apple to Samsung because as they tried of it or they need to attempt another smartphone.

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Methods of Analysing Marketing Strategy: Elements of Marketing Mix of Samsung. (2023, February 01). Edubirdie. Retrieved March 1, 2024, from https://edubirdie.com/examples/methods-of-analysing-marketing-strategy-elements-of-marketing-mix-of-samsung/
“Methods of Analysing Marketing Strategy: Elements of Marketing Mix of Samsung.” Edubirdie, 01 Feb. 2023, edubirdie.com/examples/methods-of-analysing-marketing-strategy-elements-of-marketing-mix-of-samsung/
Methods of Analysing Marketing Strategy: Elements of Marketing Mix of Samsung. [online]. Available at: <https://edubirdie.com/examples/methods-of-analysing-marketing-strategy-elements-of-marketing-mix-of-samsung/> [Accessed 1 Mar. 2024].
Methods of Analysing Marketing Strategy: Elements of Marketing Mix of Samsung [Internet]. Edubirdie. 2023 Feb 01 [cited 2024 Mar 1]. Available from: https://edubirdie.com/examples/methods-of-analysing-marketing-strategy-elements-of-marketing-mix-of-samsung/
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