Samsung does this by investing heavily on traditional advertising just like companies such as Coca-Cola and Nike. Samsung operates in an industry wherein technological progress or innovation is a key ingredient in building and maintaining competitive advantage. The major objective of the company is to brand itself as a synonym for quality so when it comes to buying quality products customers choose Samsung. Consumer preferences are dependent on features and specifications relative to pricing points. Samsung’s smartphones have the opportunities in the market as the company can rise in the different market, example China by lower down the prices and providing the customers with the advancement from technological aspects. Company Background: Samsung is a South Korean multinational company those starting its business as a small trading company and right now becoming world largest corporation. Regarding the industry and market analysis, Samsung smartphones are at the top because the company is facilitating all types of the customers, Samsung is using the effective and the suitable strategies so that the use of their smartphones can steadily increase in the market. While concluding, it could be said that Samsung’s smartphones have the opportunities in the market, the company need to focus on its products that are failed in the market example Note series, Samsung’s smartphones should focus on the advancement from technological aspects. As compared with the competitors Samsung smartphones are the most beautiful smartphones because they are designed brilliantly, the company is continuous towards the technological innovation and providing the exciting identical features to the customers. Though proposing additional services customers can be motivated (Kang, 2016). When it comes to buying an Android phone people prefer to buy Samsung phones. It is the pioneer company who introduced 3G into smartphones, the company brings innovative products with the latest technology. It has a faster customer service so people buy its products. Thus, the customers of Samsung’s smartphones are loyal as they have recognition of the company products, after focus on the innovation of product the company have the massive marketing budget based on which the smartphones by the company are good seller in the market, as the company did this recently with S8, there are highly paid advertisements. Save my name, email, and website in this browser for the next time I comment. Whenever Samsung rolls out advertisements, the company pushes the Samsung Galaxy brand. Customer appreciation, after sales strategies are also focused on the company so that there could be the complete analysis of the customers’ behavior regarding new phone (Ferrell & Hartline, 2010). Samsung Galaxy is the brand name for a series of smartphones and tablets manufactured and marketed by Samsung Electronics. The social networking accounts of Samsung also serve as venue for discussions and announcements. Social media is the major concern of the Samsung smartphone because the company knew that customer could be attracted. Smartphones industry is concerned about the marketing and promotional strategies, however, for the marketing and promotional mix, Samsung smartphone is focused on the marketing mix so that the products of the company can be known by the customers as the customers should have the brand awareness. Moreover, Samsung smartphone also advertises in the newspapers and other electronic media, the Samsung smartphones also using other marketing approaches so that the customer attention could be grasping, thus, the employees are concerned in order to know about the customer reactions about the phone and its latest digital technology. The bargaining power of suppliers is moderate in the smartphones industry because presently there are two main suppliers in the market; Samsung is focused on innovation, the main suppliers are, the hardware manufacturers and the others are the software developers. Samsung smartphone is also better from the technological aspect, as the company is focused on providing the new or latest technology to the customer for the progress in the market, in this way, the company is also maintaining the competitive advantage. In the smartphones industry, innovation is the key to success because the customers are motivated to pay the high cost for the advance technology; Samsung’s smartphones are facing the competition in the market and industry as the competitors are focused on providing the better technology to the customers. The most powerful and influential aspect of the marketing mix is the product variation. Apple iPhone has the better position in the market, the smartphones are admired, no doubt Samsung also have attractive and competitive smartphones in the market, however, still lacking in some aspects because Apple has the maximum level of satisfied customers as compared with the Samsung (Jones, 2017). The company targets various customers and some of them are young people who adopt fashion and latest technology quickly, executives, business owners, professionals, students, and other common users of mobiles. The company offers strong security features so data of professionals is safe and they can reach their data anytime anywhere. There are many direct and indirect retailers working with Samsung and they sell its products. Even Apple has recognised the importance of product diversification. The introduction of new technological features can have several benefits in the overall marketing initiative of a company. Therefore, the marketing strategy of the company is strong and it helps the firm to grow and make progress in multiple aspects. Geographic: The company has made a Galaxy segment for urban areas and Samsung Guru Segment for rural areas. Furthermore, Samsung marketing strategies are effective because the customers are satisfied. The company serves as the best alternative for consumers and it offers different electronic products including LCDs and laptops. The major competitor of the Samsung’s smartphones is iPhone by Apple, however, the companies in the industry are focused on the differentiate the applications and services, the companies are launching the new products every year, in order to compete for each other, moreover, competition is more intense in the smartphones industry. Under the subsidy and contract arrangements of network carriers, consumers can purchase a Galaxy product at a cheaper or easy-to-afford deal. Moreover, Samsung smartphone is hit and getting the advantages in the market because of friendly software, the Android phones by the Samsung smartphone are focuses on the effective marketing strategy. The company deals with its business in several sectors such as advance technology, finance, petrochemical, semiconductors, plant construction, skyscraper, medicine, fashion, hotels, chemical and others. Devices have categorized in the market according to features, functions, and price. Also Study: Samsung Strategic Bran… Samsung has also made an alliance with some IT industry leaders for introducing relevant enterprise solutions. Consequently, Samsung has the good position in the smartphone market because by fourth quarter of 2016 the company earned the market share of 18.5%, which is still significantly increasing because the company has targeted the budget-conscious shoppers (Reisinger, 2017). The Samsung smartphone is in wide range, however, the company is serving over 600 million customers worldwide, the Samsung is known as the largest manufacturer of Android because the company is covering 36% of the market. Cecere, G., Corrocher, N. & Battaglia, R. D., 2014. Others appeal to those consumers in search for premium built quality. Through relationships with carriers and distributors, Samsung ensures that the Galaxy products remain visible in the market, especially to the consumers. Demographics: The company offers the smartphone for youth under the 16-29 age groups. You have entered an incorrect email address! The marketing strategy for Samsung Galaxy products also involves heavy promotions using a combination of push and pull strategies. The company also partners with retailers and network carriers in other countries to help them with the distribution of Samsung Galaxy products—especially through varied sales promotion strategy. Smartphones industry has grown in the recent years in the market; the Smartphones are focused by the companies so that there could be the computing capabilities and effective connectivity. For example, Samsung offers discounts every now and then, hold sponsor events, and engage with national and international events and festivals. The company has been attributed to popularising AMOLED display technology on smartphones and tablets. Apple has also introduced a phone with a large screen display and a tablet with smaller screen display—strategies that have been implemented by Samsung. Take note that Apple does not invest heavily on traditional advertising and other marketing communication channels. The company may be lacking in modest upgrades like new iPhones because the sales of iPhones were 20.3% share, by the fourth quarter of 2016. But the company has imported the same user experience to mid-entry consumers through the Galaxy J product line, albeit some trade-offs such as lower hardware specifications and a plastic form factor rather than a metal and glass body. The company has also maintained accounts in social networking sites such as Facebook, Twitter, and YouTube to purchase ad spaces while also maintaining online presence. Before the Samsung smartphone releases, there are blogs, print and the advertisement of the products, example of an S8 latest phone could be taken, the hype of the phone is created before it launches so that customers could be attracted and the innovators desire in order to get the new phone in the market. The firm has created worth of its products by giving importance to quality. Another threat could be of fast technological variation because companies are focused towards bringing the new technology to the market. Barraging the public with marketing messages will definitely stir interest until the company converts some portion of the general audience into loyal consumers—does creating a mechanism for supporting future pull marketing strategies. The market, quality, and service of LG are better than Samsung. For example, the Galaxy S product line caters primarily to consumers from high socioeconomic class. There are weaknesses of the Samsung’s smartphones as, the company has many smartphone prototypes in the market, and thus, the company suffers the issues of the low return margin. 2019. Samsung smartphones are facilitating the routine because the company has the establishing the trust-based relationship through focuses on the customer needs by a spotlight on the different characteristics or needs (Cecere, et al., 2014). The latest technology that Samsung smartphone are having is the IPS display technology and the other AMOLED display technology based on the new technology the product is promoted by the company. Furthermore, both also use AMOLED screen displays—a feature initially reserved for high-end Samsung products. After making market segments on the basis of different classes and groups, the targets need to be identified and chosen. Thus, it can be said that there intense competition among the companies supplier’s and the companies especially Samsung wants the advanced mobile phones, therefore, there is the of better equipment makers. Samsung smartphones are focused on the promotional strategy through the marketing strategy, however, the company on the launch of the new product focuses on giving the print brochures, posters and the specification sheets to the customers so that people could know about the new product. As mentioned, an innovator will always have the competitive advantage, especially if there is a positive market reception for an innovation. The Samsung market is also increasing with the increase in the smartphones industry because the company has targeted the customers from different social classes, as the company has diverse products or smartphones for all types of customers. Thus, there is also the huge competition in the Android market that Samsung’s smartphones are facing by Oppo, Huawei, Sony, Lenovo, Nokia, Intel, Xiaomi, Hewlett-Packard etc. For the effective marketing strategies the company is making its smartphones through focused on the technological innovation and through diversified product portfolio so that the customers stay loyal, for the effective marketing strategies, the company is focused on the branding, social media and continuous research through focusing on the product-oriented and pricing marketing strategy (Burrow & Fowler, 2015). Data from market research firm IDC Research Inc. revealed that Samsung has been the leading smartphone manufacturer in terms of unit shipments since 2012. This is evident from ads coursed through traditional mediums such as print and broadcast as well as new mediums including social media. The company has made a Galaxy segment for urban areas and Samsung Guru Segment for rural areas. All Rights Reserved. Samsung uses different approaches and strategies for its promotion so customers attract toward the brand and buy its products. While Samsung Galaxy series is for middle-class people and especially those people who want to buy a quality smartphone with latest features. Moreover, Samsung smartphones are compatible with the Apple iPhone in the industry, as the smartphones industry is the innovative segment; therefore, the companies need to focus on the continuous innovation in order to get the advantages in the market. Take note that Samsung is not the forerunner for these features but they managed to integrate them within their premium smartphone devices. The entire product line is diverse and each product category caters to a particular demographic profile. Moreover, the company offers discounts as well through its promotions. Regarding competitors advantages Samsung is enjoying high-profit margin in the industry, it is the world largest smartphone maker and getting good revenues in the industry because struggling for the benefits in the market, not only in the smartphones but Samsung is focused on the technological aspects of every field or product, so that there could be benefits in the market (Jung-a, 2016). Through a product strategy that centres on product diversification, Samsung caters to a wider market for smartphones and tablets. Version Daily. Devise a basic positioning map to show how they rate against their competitors across two dimensions For a proper market plan we need to analysis the The target of the company is not only attracting more customers but retaining loyal customers as well. Samsung smartphone has various prices range in the market because of the wide range of products; the company is focused on various pricing methods for the benefits and revenue in the market. Samsung put emphasis on the real margin that is generated especially from mid-end and high-end customer segments. Thus, there is something for everyone in Samsung stores. The company has added different mobile categories with a specific budget bracket in its lineup. Samsung Marketing Planning and Promotional Strategy Analysis Summary, Marketing and Promotion Mix Variables of Samsung, Marketing Budget against Forecasts of Samsung, Marketing Strategy Formulation of Samsung, Samsung Marketing and Promotion Mix Variables, Samsung Marketing Budget against Forecasts, Tourism Company Critical Analysis and Recommendations, Risk of Coronavirus Disease 2019 (COVID-19) to World Health, Threat Modelling and Analysis During Software Development. Therefore, Samsung Galaxy is considered as the brand builders for Samsung because the company has invested well on it and Samsung Galaxy series are giving higher profit to the company. which have helped the brand grow. It will offer comprehensive solutions through the implementation of the latest technology. Some appeal to consumers who prefer bigger display screens. Product diversification works best for companies operating in a market populated by consumers from diverse demographic backgrounds and with different psychographics. Both share similarities in some design aspects. An Esploro Company. There are also sales and service dealers of the company that made the possible solutions for the customer or focus on the demand and opportunities to expand in the market. Psychographic: Samsung caters to those people as well who buy a mobile according to their lifestyle. It is easy to assume that focusing on fewer products is more effective and efficient than manufacturing and marketing several and almost similar products. Today, the company offers three categories under the iPhone product line and several more categories under the iPad product line. However, Samsung smartphones based on the Android devices that are very cheap so there is a moderate threat of substitute. Samsung smartphone has decided on the best budget for the Galaxy S8 smartphone and it is known that it would be a premium device in the market, the customers will be happy to buy these products and thus, the company can recover its market share (Reuters, 2017). Its smartphones have become a symbol of quality. However, there is the need of the capital requirement and the huge manufacturing costs because the industry is at maturity stage. Thus, the Android was introduced in late 2008 for the consumer market. You agree to our terms and privacy policy by consuming our contents. Regarding the threats of the substitute products is moderate in the industry because people across the world are connected through the communication. The care network of the company is wider. For the smartphone production there are continuous efforts by the Samsung, as the company has recently announced Galaxy S8 line so that potential customers of the company could be attracted, in order to maintain the sales, Samsung has maintained the position in the market, as the product is exciting, there were the flat sales on the product or smartphones S8 and S8 plus, so that maximum customers could be attracted, however, there were not the expected sales by the company. For example, the Galaxy S line of premium devices is essentially the same as the Galaxy J line of mid-entry devices in terms of form factor. The company offers cheaper phones as well in the range of $120-$200 While, the mid-range mobiles start from $250 and can be purchased in $400. Both AMOLED and IPS can have the same high pixel density and better colour reproduction. Beside these promotional activities, the Samsung smartphones use the incentive program, charity programs and the promotional gifts for effective sales in future. Samsung forecasts about the best quarterly profit that the company will earn in more than three years. Samsung’s smartphones have the low threat of the new entrants because the company has the well-established market; the rate of new entrant is quite low because the new companies have to spend a lot of money if want to compete in the market, it is not easy to make new customers. Previously, the company worked hard and faced many difficulties as compared to its competitors. However, Samsung smartphone is available in different series, example, and series of Galaxy Note, series of Galaxy Y, series of Galaxy S, series of Galaxy Tab and series of Galaxy Grand etc. A new technology could create a market or a demand and as an innovator, a company will have an initial competitive advantage. Competition is intense in the industry because the competitors have the diverse products or smartphones for all types of customers in the market, Apple iPhone is admired by its customers. But this strategy does not rest alone with product diversifications. Every kind of company can use mobiles of Samsung because they have a user-friendly interface. Thus, there is something for everyone in Samsung stores. The marketing mix is focused on the new product new and creative products with the excellent service in the industry thus; the customer service is focused on the trusted performance so that there could be the brand equity. There are other Chinese brands that are the focus on to make maximum customers in the market and the making the smartphones industry is the innovative segment, these companies have the maximum customers because of the lower prices. Samsung’s smartphones have various strengths in the industry, as it has the decent brand image and company is focused on the extraordinary R&D, however, there is the wide range of product Samsung’s smartphones so that customers from every social class can be attracted. There are also those who criticised the company for employing repetitiveness in feature and design considerations. Samsung is recognized as a quality and reliable smartphone manufacturer due to its innovative products. There are those who do not mind the price but are very particular when it comes to hardware and design specifications. The company has also been diversifying the products under the Galaxy Watch product line.
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