Samsung is faced with highly rivalry by others in the market like Apple, HTC, and Microsoft among others. To curb this competition and in order to be competitive, Samsung undertakes a pricing strategy which is winning. Sepherteladze reports that Samsung has not been so popularly in the past but have undertaken strategies in marketing to increase its popularity in the Smartphone market. As a result of these strategies, the company has been able to acquire a position a major competitor for Apple Inc.
The company began its operation in Suwon, Korea in Samsung promises to make and convey quality items and services that enhance convenience and foster smarter lifestyles for its customers around the globe. Samsung is devoted to enhancing the worldwide community through its constant pursuit of groundbreaking innovations and value creation.
Target Market The target market of Samsung is the customers with the age group of 15 to 50 years follow the latest technology trend and has the ability to purchase and use the products offered by Samsung.
Adults age purchase any offered product of Samsung be it smartphones, smart TV, cameras and other household items. This segment of customers is expected to grow in the future.
Industry Trend Samsung provides stand out products to ensure its success as a top electronic manufacturer. Its research and development are specially focusing in the area of technological capabilities and creating high quality products.
Recently, Samsung acquired Harman International to capture the market of connected car and to offer the quality products that appeal automaker procurement choice and consumer preference. Goals The goals of the company are divided into two parts i.
Quantitative and Qualitative goals. Quantitative Goals The quantitative goals of Samsung are following: Qualitative Goals The qualitative goals of Samsung are to be: Strategies Following are the strategies of Samsung: Annual Marketing Budget Samsung is one of the top companies in the world who spend extravagant sum of money to market its products.
Marketing Mix of Samsung Product Samsung has a vast product portfolio and proved the quality in many products it created over time. The product portfolio includes tablets, mobile phones, TV, Cameras and camcorders, Refrigerators, Air conditioners, washing machine, microwave oven, Laptops, printers and accessories.
There is a strong brand image of Samsung because of the innovative products it offered in the market. Smartphones of Samsung have gained a status symbol.
Thus, product portfolio is the strongest element in the marketing mix. When the product is launched, Samsung offers high value but drops the price when competitors launch the similar product. Placement Samsung is a global company and its products are available around the globe.
Competitors Samsung has a direct competition with Apple in smartphone business and in other electronic products; its competitors are Panasonic and LG.Therefore promotion is an important ingredient of marketing mix as it refers to a process of informing, persuading and influencing a consumer to make choice of the product to be bought.
A Study on the Product Life Cycle of Samsung Smartphone‘s in India _____ _____ National Seminar on ―Emerging Trends in Management & Information Technology‖ (ETM&IT). The marketing mix, or four Ps (product, price, promotion and place) is a tool integral to the development of marketing strategy; the specific tactics for the major parameters of the product or service can be defined.
Samsung Gear VR¹ transforms virtual reality with a new handheld controller that seamlessly responds to organic, human movements in virtual experiences.² Every move, from turning and grabbing to pointing and lifting, is naturally connected from physical to virtual, making it /5(83).
ETOtalk professional and reliable online shopping. Hot selling Xiaomi,Redmi,HuaWei,Honor,LeTV,LeEco,Lenovo,ASUS,Zenfone,smart watch wholesale - english. Samsung's mobile phone business is facing significant competitive pressure, having lost both its position as top smartphone provider in 4Q14 and its leadership in key emerging markets.
The company can regain its momentum but must focus on a differentiated user experience.