The company turns its operations and sales its products in 80 countries with approximately 326,000 employees in all over the world. Internet of Things IoT Market by Software Solution, Service, Platform, Application Area, and Region - Global Forecast to 2022. The company offers Mobile devices, Televisions, Home Appliances to the consumers. Samsung Electronics Industry Co Ltd was established in 1969. The strategy being followed by the management is to make the people aware of its product.
Sponsorship — Samsung is one of the largest companies in the world. Global Wireless Chipset Market 2017-2021. The design of product is the important part to attractive to consumer to purchase. Samsung is mostly famous for its product quality, but besides the gadgets, Samsung is known for being a sponsor giant. Finally, Samsung has lately also been focusing on another group of customers who has particularly emerged as being part of the leading purchasing powers: in an article published on Mobile Today this February, Samsung is said to have launched special phone features like the virtual reality lens to attract young customers. Samsung is mostly famous for its product quality and user experience but Samsung is also known for being a giant in sponsoring events.
Lastly, the Korean company also implements geographic segmentation in terms of language or cultural barriers. Ultimate goals of highly reputed brands should be to strengthen their image. A highly reputed brand name is considered as a favorable and publicly recognized name that reflects merit, achievement, and reliability. In the smartphone market, Nokia lost the leadership crown to Samsung. The phone has received very high level of coverage in media owing to some special attractions like its magnificent camera and other features. Collectively they are called the marketing mix.
Country of Origin Samsung has been involved to promote the country image of South Korea since Seoul Olympics in 1988 Nebenzahl and Jaffe, 1991. Stage payments This is offering the consumer credit on the product in expectation they will make regular payments towards the product in stages until it is paid off, similar to leasing this involves giving the consumer a product and gaining staged payments over a set term this method often involves interest charged to the consumer. Samsung has not succeeded in becoming the leader in other product categories. Adding to this, there also are web shops from which Samsung's own is the main one: these platforms allow potential customers to identify which product they are interested in and get an overview of the devices' capabilities before having the possibility to order it directly from the website. Apple Passes Samsung to Capture the Top Position in the Worldwide Smartphone Market While Overall Shipments Decline 6.
This is why the camera many times becomes the deciding feature in terms of purchase of smartphones. And today Samsung Group is a South Korean based company that includes a number of subsidiaries. Smartphones with Android operating system are charming a commodity 2. In order for a company to achieve its goals, the company must have a strategy that mixes the correct elements of marketing. It purposes are numerous : canvassing, building up customer loyalty and of course selling. Brand value is one of significant criteria that enhance branding of the company.
But, what will happen when other competitors will launch a smartphone with identical features? The distribution network is the most interesting in the case of Samsung. The customer is the main focus when marketing. Samsung believes that advertising the best form of promotion to engage potential consumers and position the brand. It makes Samsung to be a champion to international market with high-tech products. Elaborating further, Samsung also considers behavioural segmentation, which focuses on questions as how often the customer uses his device or which Apps he tends to use more. One of these is Samsung Mobile solely dedicated to the promotion of Samsung smartphones.
In skimming pricing strategy the products are priced higher so that fewer sales are needed to break even. That is the reason the target customers is usually young to medium aged men with higher income groups. Besides advertising, Samsung approaches different promotional tactics to make customers buy the product. They are partially planned and partially unplanned. Currently the company has established its premium segment with three most famous products i. The report also comprises discussions of Samsung business strategy and addresses issues of corporate social responsibility.
The company selling its phones all over the globe, it is difficult to define the actual size of the market. Samsung Electronics marketing communication process contains a full analysis of Samsung marketing strategy. Key opponents are biggest buyers. It becomes bait and other companies would like to join. Marketing is integral to the success of a business, large or small, with its primary focus on quality, consumer value and customer satisfaction. For instance, Mumbai is a great example of a city, where Samsung distributes its product through a single company.