Report | Marketing Plan of Samsung
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Added on 2019-10-18
Report | Marketing Plan of Samsung
Added on 2019-10-18
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Running head: Marketing planMarketing planSAMSUNG GALAXY S6Student name
MARKETING PLAN1Table of ContentsExecutive summary.....................................................................................................................................3Introduction.................................................................................................................................................4Current situation.........................................................................................................................................5SWOT Analysis.........................................................................................................................................5SWOT factors...........................................................................................................................................7Target market segmentation.......................................................................................................................9Segmentation approach..........................................................................................................................9Three Target market segments................................................................................................................9Selected Target market segment...........................................................................................................11Marketing objective...................................................................................................................................11Product positioning...................................................................................................................................13Recommendation of positioning strategy..............................................................................................13Intended positioning strategy................................................................................................................14Defending Positioning strategy..............................................................................................................14Marketing mix...........................................................................................................................................15Product..................................................................................................................................................15Price.......................................................................................................................................................16Distribution............................................................................................................................................17Communication.....................................................................................................................................18Implementation plan.................................................................................................................................19Implementation schedule......................................................................................................................19Measure and evaluation........................................................................................................................21Implementation tactics..........................................................................................................................21Contingency plan...................................................................................................................................22Research plan........................................................................................................................................22Financial projection and implications........................................................................................................22Projected income statement.................................................................................................................22Projected break-even analysis...............................................................................................................23
MARKETING PLAN2Financial implications............................................................................................................................23Overall recommendations.........................................................................................................................23Recommendations.................................................................................................................................23Support by SWOT analysis.....................................................................................................................24Support by marketing concepts, terms and information.......................................................................25References.................................................................................................................................................27Appendix...................................................................................................................................................30
MARKETING PLAN3Executive summaryThe Samsung has proven to the business world that they are having the most prestigious technologies in the cell phone industry. The target market segmentation consist of three class namely, middle-class, Elite class and young generation. The primary target audience is middle-class because the price range, product features and technology are suitable and they cannot afford above then that but they want to come under elite group so they will purchase the product.The product positioning strategies recommended are cost leadership and product differentiation strategy which helps to attract the consumers through build the brand image in the eyes of consumers. The recommended strategies are based on consumer characteristic approach which helps to build the product in a customize manner. The rationale of marketing mix includes product mix, price mix, distribution and communication. The product should fulfill the demands of consumers by core, actual and segmentation factors of product concept. The Samsung should use various promotional activities such as sponsorship, advertisement and others. The creative strategy includes the use of social media which helps to increase the sales volume. The overall recommendations include cost leadership strategy and product differentiation. Cost leadership strategy helps to provide the benefit of economies of scale. The product differentiation helps to produce unique product and it also emphasize on continues innovation which helps to survive in the competitive market. The marketing plan execution helps to promote the product through appropriate medium to the target audience which helps to increase the sales volume of Samsung.
MARKETING PLAN4IntroductionIn this present paper we will describe the marketing plan of Samsung galaxy S6. The study includes SWOT analysis, target market segmentation, marketing objectives, product positioning, marketing mix, implementation plan, financial projections and implications, and overall recommendations.The company is planning to launch this product in August, 2016. The company is aiming for 1 percent of the Canada smart phone market through unit sales volume of 1 million. This smartphone will help people to get a product that is feature rich, reliable and is cost-effective.Following are the features of Samsung galaxy S6:5.1 Quad HD super AMOLED display (2560X1440), 577 PPIFast camera with F1.9 bright aperture.Long lasting battery with wireless charging.64 bit architecturePowerful security solutions: KNOX and fingerprint scannerSeamless content sharing with Samsung smart TV via Bluetooth low energyNew smart manager applicationThe processor is CPU speed 2.1 GHz, 1.5 GHz with Octa-core type of CPU.The size is 12.92 cm with 16M color depth.
MARKETING PLAN5Current situationSWOT AnalysisThe swot analysis is used to analyze the strength, weakness, threats and opportunities of a company. It is used to analyze the internal and external factors of a company. The external factors are threats and opportunity.1.StrengthI.Innovative productThe Samsung has introduced an innovative product which helps to compete in theexternal environment by its innovative features and technologies. The internal environment is impacted by changing in its operational and production activities. The innovative product is strength of the company which impacts on the marketing mix segments (Rapp et al., 2014). The product mix is impacted by adding a new product for the consumers. The pricing mix is impacted by increasing II.Android OSThe Android OS is widely acceptable so it is strength of a product. It is customizable, side-loading apps, multitasking, flash support, easy to get approval for delivers. These features help to attract large number of consumers. The internal environment is impacted by generating high revenue which helps in increasing the productivity of the company. The features help in competing with major players in external environment. The promotional activities should considerthe benefits of android feature to increase the sales. The pricing strategy should
MARKETING PLAN6consider the widely accepted price. The android feature helps in building strong product portfolio which helps to string the product mix of Samsung.2.Weaknessa.Inconsistency in Physical deviceThe product is a physical device so it is inconsistent from mid-range to high-end phones. It is bulky so it may be too big for some users. The product mix includes the vast product portfolio which is impacted by the features of physical device by affecting the status symbol of Samsung. The physical device also impacts on the price mix by lowering the price of product. The physical device impacts on the place mix by considering the safest distribution channels for the delivery of products. The promotional activities like advertisement should consider the feature of physical device to change the mindset of consumers towards product reliability. b.Limited market shareThe company is having limited market share in ever growing segment. Samsung is mainly focusing on mass market instead of niche market which requires more focus on developing the product. The limited market share impacts on the pricing mix by forces the company to choose competitive pricing for the survival in the market.3.Opportunitya.Improvement in services
MARKETING PLAN7The consumers in cell phone industry can be attracted from providing excellent services which help to maintain the brand image and it directly impacts on increasing the demand (Bull et al., 2016). It impacts on product mix by increasingthe demand of the product.b.Access to large marketThe company is having wide range of product which can address large market. It impacts on product mix by targeting large audience. 4.Threata.Challenge of low pricingThe company is adopting a low price manufacturing which affects to the quality of a product. The quality is a major aspect which impacts on the brand image. It impacts on pricing mix strategy and the company will adopt low pricing strategy.b.Aggressive competitorsThere are many competitors in cell phone industry and they are competing with new technologies and innovations. So the survival in a market is a major threat forthe market. It impacts on promotion mix and the company needs to do more promotional activities for the survival in a competitive world.SWOT factorsFollowing are the five important SWOT factors:1.Innovative productThe innovative product is strength of the company because it is very necessary for the survival of the company in a competitive mobile phone industry. It is very important factor
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