Samsung Seca: Redefining a Brand Essay Example

main competitor in the electronic appliances category. They are known for their pioneering products such as colour televisions and Walkman, the portable audiocassette. Sony charges a premium price to reflect the high quality of their brand. They have a reliable nationwide retail channel in Canada. However, Samsung may capitalize on Sony's expertise in designing and manufacturing products that seem to be on the brink of extinction, such as conventional televisions, CRT displays, portable CD players, and home stereo systems.

? Marketing Strategies Strategic Planning In terms of Strategic Planning, SECA should determine the segmentation, target market, and positioning of their products, particularly the digital electronics related to Samsung's redefined brand. Using demographic and psychographic-based segmentation, SECA can divide the market into four segments: High-income families – less price-sensitive individuals seeking high-quality products and innovative offerings. The Young Generation - technologically adept individuals favoring new and innovative offerings. Business users – less price-sensitive individuals seeking high-quality products that facilitate and enhance business speed. Hobbyists - technologically adept individuals favoring new and innovative offerings. The Points of Parity (POP) for Samsung are their technology-driven products.

Samsung, Sony, and Panasonic offer a similar range of products. It is important to emphasize that Samsung's Points of Difference (POD) are innovation and user-friendliness. POD refers to the unique features that set Samsung apart from other brands. Based on POP and POD, SECA can position Samsung as a provider of innovative and user-friendly digital consumer electronics. Tactical planning involves considering the 4P's of the marketing mix: product, price, place, and promotion. Samsung should leverage their 'signature' offerings that showcase the brand's strengths.

The ideal products for Samsung are the large-screen digital light projection HDTVs

and feature-rich mobile phones. Air-conditioners, refrigerators, and conventional TV sets are not suitable for the high-tech image the company wants to portray.

Regarding distribution, Samsung should discontinue selling their products through discount outlets. Since Samsung aims to emphasize premium electronics and consumers tend to shop for such products at specialty retailers, the company needs to focus on high-end retailers like Best Buy and Future Shop. Alternatively, Samsung could even consider opening its own retail store.

Price is a crucial aspect that Samsung could focus on to strengthen its new brand image. Currently, Samsung follows a premium pricing strategy for its high-end products, which has contributed to its strong reputation. However, for its other offerings, Samsung adopts either parity or discount pricing. This significant disparity in pricing could potentially confuse consumers, particularly those who associate price with quality. Therefore, if Samsung aims to position itself as a premium brand that provides extraordinary value to customers, it must align its pricing strategy accordingly to effectively communicate the desired message.

Promotion represents an essential component in branding as it encompasses advertising and promotional activities. These facets need to be meticulously considered when building a brand.

Samsung's investment in advertising and promotion in Canada suggests that increasing its budget for promotions is a logical next step to reach a wider audience and promote its distinct and specialized offerings. By positioning itself as a provider of user-friendly and innovative digital consumer electronics, SECA can target the premium customer segment that values the highest quality products and embraces the latest innovations, regardless of price.

The target customers for Samsung include high-income families, the young generation, business users, and hobbyists. It is crucial to consider brand

perception as it has a lasting impact on consumer attitudes. Samsung can capitalize on the Canadian market by establishing a redefined Samsung brand among Canadians. Brands serve as valuable tools for minimizing search efforts and quickly distinguishing one product from another. They also provide customers with a sense of quality, consistency, and a means of self-expression.

The marketing mixed strategies alternatives include eliminating the low-end product line to uphold the new Samsung brand image. This approach has advantages such as enhancing the new brand image, charging premium prices for signature products, and directing promotional efforts towards products that embody the new brand image. However, there are also disadvantages to consider, including the potential decrease in sales volume and company profits that may result from eliminating appliances from the product line. To mitigate this, Samsung should consider building its own retail store.

Pros: It is easier to attract the attention of premium electronics customers and the store can promote brand image. Cons: However, there is a disadvantage of losing the opportunity to gain profits from the discount retailer. Another drawback is the need to increase the price of Samsung products in order to align with the repositioning of the new brand. Pros: On the positive side, a higher price may send a certain message to customers.

The main idea is that Samsung is selling high-quality products at a higher price, which could potentially harm sales. To attract more customers, increasing promotional and advertising budgets may be necessary. However, this action could also alert competitors and lead to counter-reactions. As a suggestion, Samsung should shift towards a strategy that prioritizes consumers, marketing efforts, and brand development in order to

enhance its new brand image.

Samsung should focus on highlighting its value proposition as a provider of user-friendly and innovative digital consumer electronics. Recommendations for Samsung include: repositioning the brand image by introducing new digital electronics products that contribute to a profitable portfolio. These new products should offer high quality and incorporate technology that aligns with a lifestyle-oriented approach. Additionally, enhancing the current profitable portfolio can be achieved by including extra features as added value. Another suggestion is to open a lifestyle store that not only enhances the brand image but also boosts promotional efforts. Lastly, increasing prices would help Samsung establish itself as a premier brand for consumers.

Samsung may consider providing discounts during certain periods, but they must establish the maximum permissible discount rate. Additionally, they should allocate more funds for advertising to support their marketing initiatives and enhance brand recognition through extensive sponsorships and ambassador programs. In conclusion, SECA should adopt unconventional approaches to gain a deeper understanding of the Canadian market, as there are abundant opportunities for an innovative company like Samsung. Moreover, SECA should prioritize educating customers about Samsung’s premium brand products.