Samsung Marketing Plan Analysis Essay Example

significant market share. Similar to other electronics companies, we prioritize long-term market share rather than short-term profitability. This report will detail the strategies we will use to achieve our objective of capturing a substantial portion of the market. Additionally, it will include comprehensive forecasts and projections of sales needed to reach our target audience and attain maximum market share.

Situation Analysis

Company Analysis: Samsung Electronics, a subsidiary of Samsung Group, is a well-known worldwide producer of cutting-edge electronics and digital media. Their main emphasis is on manufacturing televisions, cameras, and other electronic devices.

Samsung Electronics focuses on three main capabilities: product leadership, market leadership, and the advancement of portable devices like phones and computers.

SEC, a globally recognized electronics manufacturer, prioritizes innovation and customer satisfaction. They consistently strive to produce and offer exceptional products and services in order to maintain their position as a prominent industry player.

Samsung enhances the overall quality of everyday life by combining fashion and technological expertise in their advanced family gadgets, contributing towards a more sustainable society. Furthermore, their research and development efforts are primarily focused on technological capabilities and the creation of innovative products like smartphones. Samsung is at the forefront of technology, boasting exquisite and distinctive design.

Customer Analysis
Samsung Electronics is aiming to reach customers of all ages and nationalities with their wide range of products. They have recognized the popularity of Android smartphones and are aligning themselves with this trend.

Rival Analysis
In today's global market, multiple brands are fiercely competing to gain a larger market share by offering comparable products.

According to company data, Samsung sold 89 million smartphones in the first quarter of 2014, which is an increase compared to the previous year's

sales of 69.4 million units for the same period.

Despite its steady growth, Samsung's smartphone market share has declined from 32.4% to 31.2% in the same quarter compared to last year. This decrease is attributed to the rapid expansion of the low-end market and signifies a four-year first for Samsung in terms of global smartphone market share reduction.

APPLE

Samsung Electronics is Apple's primary competitor in the smartphone sector. Beginning in 2011, both companies have been engaged in a fierce competition involving their respective products such as iPhone, Galaxy Note, Galaxy S, and HTC. Notably, Samsung was the pioneer in manufacturing phones with Android OS and touch screen capabilities.

During Q2 of 2011.

HTC has emerged as the third biggest player in the smartphone industry, following Apple and Samsung.

Social and cultural environment

Throughout various locations, there is a widespread belief that Samsung manufactures excellent smartphones. Consequently, this perception greatly influences consumers globally.

Technological environment

Samsung is widely acknowledged as one of the most inventive corporations.

The Samsung phone's package and applications are unique in the current global economy. Technological advancements have accelerated at an unprecedented rate. This has led to electronic products becoming increasingly affordable. The gap between scientific discoveries and new products has also decreased. Additionally, product lines are regularly expanded and updated.

Samsung prioritizes quality and has made significant investments in engineering improvements. To maintain a competitive advantage, Samsung allocates a substantial amount of funds to research and development (R).

SWOT Analysis: Samsung is recognized for its exceptional products, which are highly regarded by consumers due to the seamless integration of hardware and diverse software packages. The company has received numerous awards for its superior products. Additionally, Samsung stands out in research and development,

utilizing top-notch invention and design practices to foster innovation. With abundant resources available, the company can effectively harness cutting-edge technology and consistently introduce captivating new features.

Strong hold in the Consumer Electronic industry – Samsung possesses a well-known global brand and maintains a substantial market share across its product range. The company places emphasis on the environment by ensuring their products are eco-friendly. They have also established manufacturing plants in cost-effective locations such as India, resulting in significant savings on production costs. Furthermore, Samsung actively promotes cultural diversity by employing a diverse workforce comprising both local and international employees.

Weakness

In contrast to other technology firms, Samsung's profit margin is comparatively lower.

Samsung's net income margin is low and it relies on external sources for its software. Additionally, its primary rivals, such as Apple, are also significant purchasers of their electronic devices. Samsung Mobile recently launched a range of smartphones, resulting in cannibalization due to excessive focus on multiple product lines.

Market Segmentation:

Samsung Electronics Company operates in the consumer electronics, information technology, and mobile communications sectors.

Our company is a global leader in providing technology and device solutions. We specialize in offering an extensive range of consumer products such as mobile phones, tablets, televisions, and digital cameras.

Our store has a diverse selection of electronic devices available for purchase. This includes cameras, camcorders, notebooks, printers, and computers. We also offer memory and storage products such as solid state drives and memory cards. Additionally, we have various accessories to enhance your electronic experience. Please note that we do not offer cyber game match hosting.

Engineering concern involves venture capital investments and the semiconducting material industry. It focuses on

the business of semiconducting material equipment, sponsoring sports teams and games, as well as credit management activities. Additionally, it also provides repair services for electronic devices and general logistics bureau services.

Our services include conferencing and communication systems to cater to Indian users. We have introduced keyboards in 9 Indian languages, along with other features such as Split Window and Eye Scrolling.

The text mentions various features and services offered in a music player with different equalizer scenes. It also highlights the recent launch of the Milk Music service, which competes with iTunes Radio and Spotify.

Furthermore, we offer localized apps to draw in a larger customer base. One example is the Samsung Group Play app, which allows exclusive content sharing among Samsung phones using Wi-Fi. Additionally, Samsung Electronics is a subsidiary of one of the largest multi-billion dollar corporations globally. In 2007,

Samsung has achieved a major milestone by surpassing $100 billion in annual gross revenues for the first time. The company is also dedicated to investing more than $6 billion per year in research and development. Additionally, Samsung's mobile phone division has surpassed Motorola to become the market's second-largest competitor during Q3 2007. Moreover, there is a remarkable growth of 14% in smartphone sales, demonstrating ongoing success for Samsung.

The gross sales for the quarter rose by 17% to reach 52.9 trillion won, while the net profit increased by 42% to amount to 7.2 trillion won.

Approximately $6.5 billion was generated by our division responsible for smartphones, tablets, personal computers, and cameras, accounting for around 75% of our total revenue.

Due to being in a highly competitive industry, Samsung Electronics regularly confronts the introduction of new Smartphone devices annually. Previously,

Samsung was perceived as cautious and primarily concentrated on providing inexpensive products for the budget segment. Although this approach aided their competitiveness in the affordable market section, it limited their presence in pricier markets. To penetrate these higher-priced markets, Samsung had to redirect their attention from low-cost items and instead emphasize innovation and enhancing brand worth.

According to recent Marketing definitions, Samsung's Segmentation Strategy focuses primarily on Behavioral and Psychographic Segmentations.

GEOGRAPHIC Samsung has developed a Guru Segment specifically for rural countries and a Galaxy segment for urban countries. In India, Samsung is the leading mobile phone manufacturer and holds the largest share of cell phone customers, along with Nokia. The company aims to cater to the varied needs of its customers.

DEMOGRAPHIC
Samsung offers mobile phones tailored for two main demographics: young people aged 16-29 and business professionals. They also have a unique model called Samsung Guru, which targets middle-class youth, especially those in lower category occupations. The Guru model comes in various versions, including a 3G option.

If you are looking for a cheap 3G French phone, the Samsung Galaxy is a great choice. It offers many appealing features like Wi-Fi and is suitable for both young people and businessmen.

Samsung has partnered with industry leaders to provide enterprise solutions and the most comprehensive mobile implementation of Exchange ActiveSync. The Galaxy S II is well-prepared for security concerns and can meet any demand for serious enterprise use.

Samsung Mobile offers devices tailored to clients' lifestyles. They have introduced impressive mobile phones specifically for girls and affordable touch screen stylish phones, ensuring everyone can enjoy touch screen technology.

The marketing strategy focuses on merchandise as the first component of the marketing mix.Merchandise

plays a crucial role in meeting consumer needs and developing strategies for selling. Samsung offers various products such as tablets, smartphones, televisions, cameras, air conditioners, refrigerators, washing machines, microwave ovens, and laptops. The company is renowned for its diverse selection of 3D TVs available in either 55" or 46" sizes. These TVs feature LED backlight display and have a slim design at .31". Additionally, they come with an advanced remote control that allows users to stream live video on the LCD screen directly from the remote when they are away from the main display. Packaging serves multiple purposes by protecting and presenting products while also offering brand owners an opportunity to communicate with consumers through unique designs and graphics that enhance their message.

Images, colours, and merchandise information are crucial in marketing communication and serve as a significant battleground in the fiercely competitive markets where brands strive to capture consumer attention. Samsung's advantage lies in the trust associated with all its products. Samsung has recognized that while low prices are important for competing in the lower-market segment, technology and brand competitiveness are key factors in the upscale market.

Samsung chose to prioritize the high-end market and abandon the lower-end market in order to improve its brand image. This included repositioning all of its product lines, such as mobile phones, consumer electronics, and memory flash, to better serve the upscale market. Consequently, Samsung's products are now found in a more expensive price range.

To Samsung's higher monetary value will bring more profits and also indicate better quality of products. Samsung Technology recognized that digital is the future developing aspect of consumer electronics. The technological advancements improved Samsung's brand image

of being youthful, stylish, and functional.

Monetary value

Monetary value is an essential element of selling, known as one of the authoritative “4 Ps” (merchandise, monetary value, topographic point, and publicity). Retailers use different pricing strategies than customers because they purchase products in bulk, resulting in discounts compared to customers buying in smaller quantities.

The company also discloses its public relations expenses in its annual fiscal report. In 2012, it reported spending $558.8 million on global PR expenses, as reported by the Ad Age Data Center.

The company's worldwide PR expenses in 2011 were reported to be $476.1 million. As customers are becoming more price-conscious, they are looking for high-quality products at affordable prices. The company's focus is to satisfy customers by offering classic and superior quality products at reasonable prices. They have various brands under their product categories that are affordable for the average consumer.


Promotion Strategy


Different types of promotional mix will be utilized to promote the brand.

Ad:

The company will use various forms of mass media to promote the new brand.

Public Relation:

It involves establishing positive relationships with the media and managing both positive and negative attention. It will also engage consumers on social media platforms.

Sale Promotion:

It aims to boost short-term sales. Samsung rewards loyal customers with vouchers and special event notifications.

Personal Selling:

• We prioritize individual attention and strive for ultimate customer satisfaction.
• Direct Mail:
• The company provides information about new products and collections to attract more customers.

Distribution ( Place )

Samsung is present in various channels in the market, with online sales being the primary focus.

Customers have the convenience of receiving free transportation and accommodation. Additionally, they can personally evaluate and witness product features, rather than merely relying on descriptions in a retail store. Samsung's products are not available in bulk stores such as Wal-Mart or Target; however, they are purchasable at electronics retail stores like Best Buy and Fry's.

According to IHS, in 2012 Samsung overtook Nokia as the global leader in mobile phone shipments, accounting for 29% compared to Nokia's 24%.

According to IHS, Samsung is expected to increase its lead over Apple by 11 percentage points this year. Samsung currently holds the top spot in the smartphone market, which is the most lucrative and rapidly growing segment of the mobile phone industry. Samsung's market share for smartphones is 28 percent, while Apple holds a 20 percent market share.

When it comes to our goals here at Samsung, both in the short and long term, they are focused on utilizing our talent and technology to develop superior products and services that contribute to improving society as a whole (samsung).

As previously mentioned, our main goals at Samsung are mainly oriented towards the long term, specifically the percentage of market share in electronics such as mobile phones and televisions (source). The immediate results of our marketing strategy will be the ongoing domination in the mobile phone and television sectors. However, our strategy will also aid us

in the long run to acquire a larger share of the entire electronics market. From a financial perspective, our sales will continue to grow annually, along with our overall market share.

With our team of experts working on the latest advancements in technology, we have every intention to remain as the frontrunner in the electronics industry for many years. Below is a chart demonstrating our financial forecasts for the coming years.

Conclusion

In conclusion, Samsung Electronics is a global leader in the electronics and technology fields. This marketing report serves as a handbook to support our marketing management team in implementing our most recent marketing strategies.

We have provided our executive summary, current state of affairs analysis, and future selling strategy. By following the plans we have laid out, we here at Samsung intend on dominating the world of electronics for the next millennium.

Mentions

1. Unknown. (2014). “Samsung Builds Strong Momentum with More New Product Innovations Than Ever Before.
2. "Fort Mill Times Co. 11 Jun 2014."
3. Retrieved from: http://www.fortmilltimes.com/2014/06/11/3539857/samsung-builds-strong-momentum.
4. HTML Epstain.

Zach reported that Samsung sold more smartphones in the first quarter of 2014 than all of its top rivals combined, as stated in an article by BGR. LLC. The article can be accessed at the following URL: hypertext transfer protocol: //bgr. com/2014/04/29/smartphone-market-share-q1-2014-global-samsung-apple Lee.

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net/inquirer/news/2342163/samsung-smartphone-sales-dip-by-four-percent-in-q1-despite-a-gbp44bn-profit Unknown. ( 2014 ) . Forbes. com. LLC.

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Unknown. (2014). Samsung Group. Retrieved from: hypertext transfer protocol: //www.samsung.

com/us/aboutsamsung/ Bruell. Alexandra. "Samsung Launches Public

Relations Agency Review." AdvertisingAge. 14 Jun 2013.