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Marketing Plan for Samsung Galaxy S6

   

Added on  2019-09-30

32 Pages7356 Words447 Views
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 summarySamsung has proven to the business world that they are having the most prestigious technologiesin the cell phone industry. The target market segmentation consist of three classes, the middle-class, Elite class and the young generation. The primary target audience is the middle-class because the price range, product features and the technologies are suitable. Since they cannot afford to purchase expensive cellphone that the elite group could purchase. The product positioning strategies recommended are cost leadership and product differentiation strategy which helps to attract the consumers through building the brand image in the eyes of consumers. The recommended strategies are based on the consumer characteristic approach in which it helps to build the product in a customize manner. The rationale of marketing mix includes product mix, price mix, distribution and communication (Solomon, pg.20). The product should fulfill the demands of consumers by core, actual and segmentation factors of the product concept. Samsungshould use various promotional activities such as sponsorship, advertisement, social networks, etc. 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 helpsto 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 (Samsung.com):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, opportunities and threats of a company. It is used to analyze the internal and external factors of a company. Marketers start with an examination of the facts or observations made in a situational analysis and try to identify the implications of each of these considerations” (Solomon, pg. 58). SWOT analysis is used for acloser look at Samsung.1.StrengthI.Innovative productSamsung has introduced an innovative product which helps to compete in the external environment by its innovative features and technologies. The internal environment is impacted by changing in its operational and production activities. The innovative product is the strength of the company that has a great impact on the marketing mix segments (Rapp et al., 2014). The product mix is impacted by adding a new product for the consumers. For example: Samsung S5 has non removable battery of 2800mAh, with other innovative features which acts as a competitive advantage for the product.II.Android OSThe Android OS is widely acceptable so it is the strength of the product. It is customizable, side-loading apps, able to multitask and flash support. 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

MARKETING PLAN6the company. These features help Samsung to compete with major players in the external environment such as Apple. The promotional activities should consider the features that the android provides in order to increase the sales of the product. The pricing strategy should consider the widely accepted price. The android feature helps in building strong product portfolio which helps to string the productmix of Samsung. For example: Samsung galaxy S in having Android OS which is widely acceptable because of its features such as multi-tasking, flash support and others.2.Weaknessa.Inconsistency in Physical deviceThere is an inconsistency in physical device from mid-range to high-end phones. The size is also large so it may be 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 feature of the device also has an impact on the price mix by lowering the price of the product. The Samsungphones are fragile therefore selection of distribution channel should be safest. Thepromotional activities like advertisement should consider the physical features of the device to change the mindset of consumers towards product reliability. For example: 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

MARKETING PLAN7focus 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. For example: Samsung 3.Opportunitya.Improvement in servicesThe 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. For example: Samsung after sales services for S5 has tremendously increased the sales volume by 1% of total android market.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. For example: Sony has wide variety of products which enable to access the large market and it directly impactson the sales volume.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 influences the brand image. It impacts on pricing mix strategy and the company will adopt low pricing strategy. For example: Sony is providing similar product with low price which forces the Samsung to reduce the price. b.Aggressive competitors

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