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Assignment | Marketing Concept & SWOT

   

Added on  2019-09-30

11 Pages2548 Words89 Views
Marketing Assignment Marketing Concept, SWOT, & Segmentation and PositioningName: [________] Enrollment Number: [________] Date: [_______]

Table of Contents1.1 Marketing Concept................................................................................................................................2A. Marketing Philosophy and New-era Orientation.................................................................................2B. Marketing Value and Marketing Mix...................................................................................................2C. Ethical and/or Social Issues.................................................................................................................31.2 SWOT Analysis.......................................................................................................................................4A. Internal Environment Factors and Marketing Mix Implications..........................................................4B. External Environment Factors and Marketing Mix Implications..........................................................4C. Important Internal Environment Factors.............................................................................................51.3 Segmentation & Positioning Concepts...................................................................................................6A. Segmentation Approach and Justification...........................................................................................6B. Target Market Identification and Profiling...........................................................................................6C. Marketing Mix Strategies....................................................................................................................6D. Target Audience for.............................................................................................................................6E. Car Brands/Models Positioning...........................................................................................................6F. Positioning Maps.................................................................................................................................6References...................................................................................................................................................7

1.1 Marketing ConceptA. Marketing Philosophy and New-era OrientationThe company that has been selected for the analysis is Samsung, which is a multinational conglomerate from South Korea. Headquarter of the company is in Samsung Town, Seoul.The philosophy behind marketing concept is that the company should understand the need of the customers and then devise methods that can fulfill these needs appreciably well in comparison tothe competition. Samsung has been customer oriented for number of years and almost all its products are targeted towards the customer and address one or multiple need of the customers. Price, product, distribution and promotional strategies implemented by the company are in accordance with the need of the customers. The pricing strategy of the company follows “Skimming” most of the time. It launches smartphones with high price points and gradually reduces the price sighting the activity of the competitors. Moreover, the company has successfully implemented new-era strategies that are venturing towards web to attract the consumers who are present on the online medium. The company has adopted most of the modern strategies to touch all the points where there is possibility of the customers interacting with the company in any manner. It can be stated that the company truly follows significant part of marketing philosophies and hasadopted most of the new-era marketing tools and techniques to attract the customer groups. B. Marketing Value and Marketing MixIf the products and services of the company are taken into consideration, particularly the smartphone segment, then it can be stated that the company provides four types of value to the customers, namely, practical value, perceived value, social value, and identity value. The features available on the Samsung smartphones provide practical value (utility) to the customers. Moreover, the company has a well-established brand value in the market and, therefore the customers gain perceived value from the Samsung smartphones. The purchases of Samsung products make the customer feel that they have made good purchase decisions. Most of

the high end Samsung smartphones fulfill the social value of the customers as they feel proud and prefer to show off their phones in public. However, as per identity value is concerned, the Samsung brand associate less with the customers in comparison to its direct competitor Apple.Mentioned below are some of the marketing mix decisions made by Samsung to create the aforementioned value:Product: The product development has been robust in the last few years (performance wise) which establishes the brand strongly in the market. Product problems are rare and after sales service have ensured instant product replacement or error correction.Price: Normally follows “Skimming” price strategy, but only for the products whose prices can be managed. Smartphone pricing are always based in accordance with the competition and their timing of product launches.Distribution: Samsung utilizes modern retail (e.g. Croma, Hypercity, etc.) and distributors to reach the consumers. Samsung is valued among customers, therefore becomes mandatory (in a way) for retailers to keep the store sale going.Communication: Samsung actively uses online and offline medium to reach the consumers. Push and pull strategy are used simultaneously by the company. C. Ethical and/or Social Issues The two ethical issues that were faced by Samsung are Illegal Labor Practice (China): In 2012, the investigation of Samsung’s manufacturing plant in China led to the revelation about the working hours of employees (normally 16 hours) and employment of child labors; Samsung’s “fanboy” Factory: Samsung lures (using foreign trips and gifts) bloggers from around the world who are die-hard fan of Samsung to get them write about its products without mentioning about the endorsements which is illegal under Advertising Standard Authority rule 2009.The company should consider the long term impact of such activity on its brand. Things will come out (gradually) and it may impact the way company is seen among consumers. Only the consideration by the Samsung can be the solution (which does not seem to be working currently).

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