This assignment explores various marketing research techniques that Samsung can use to understand its position in the market and attract potential customers. The report includes a SWOT analysis, Porter's generic model, and strategies for differentiating products to increase sales revenue and profits.
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Marketing Principles and Techniques
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Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1.........................................................................................................................................3 1.1 Diverse activities that carried out marketing departments in business-..........................3 1.2 To identify market segmentation as a tool to identify customers....................................4 P3 Marketing mix..................................................................................................................5 TASK 2............................................................................................................................................6 1.1 Aim of research and market analysis...............................................................................6 1.2 Market research methods..................................................................................................7 1.3 Porters five forces analysis.............................................................................................8 TASK 3...........................................................................................................................................8 1.1 market analysis techniques to research the target market for a selected product or service8 1.2 Conduct research and present questionnaire and interpret their findings and make recommendations on graph.....................................................................................................9 TASK 4..........................................................................................................................................16 1.1 Methods to use in e-markets and services.....................................................................16 1.2 Online image of a company............................................................................................17 CONCLUSION..............................................................................................................................18 .......................................................................................................................................................20
INTRODUCTION In market dynamics business environment plays an important role to achieve success and capital for a particular product or service. Marketing techniques can be used by different organisation to collaborate with their customers by providing features, specificationsand benefits of company's product .It focuses on customers in order to encourage themto buy product or service that can make higher profits and sustainability for organisation. SamsungisamultinationalsouthKoreancompanyasSamsungelectricindustry manufactureselectronicapplianceslikeTV,Calculator,refrigerators,mobilephones,air conditioners and washers. This report will provide a detail of marketing and its various activities along with description of marketing mix and target segmentation . It will further analyse objectivesto conduct marketing mix and and aim to do market analysis and provide marketing research methods along with various techniques used for it. In it , it also describes how Samsung manage online image and method of e- marketing to find Strength, weakness of a company. TASK 1 1.1 Various activities that carried by marketing department of business Marketing- It is an ongoing communication with customers in a way to educates, informs and build a relationship over time . Marketing is a place where we can know a market , create right product and desire and let people to know all wants and needs of a customer (Kotler, P . 2014 ). It an expose target customers to a product through appropriate channels, gauge reaction and feedback and find a path to purchase. Their are some prominent activities of marketing:- Market research- The systematic term of gather, record andanalysing of data and information to know about various issues related to marketing of productsthat can make a careful study of product a design, market,sales promotion, warehousing and advertising .Samsunghave to make a proper questionnaire , data to be analysed and make a primary research on mobile phones to analyse appropriate strategies and plan to gain higher profits in a company by providing proper serving requirements to all clients who are using mobile phones(Keivan Khatami, S., 2015).The main objective of Samsung is to serve best electronic items on market and stand out on top of the worldand do proper marketing research in order to analyse all wants and needs of customers.
Promotion:- Promotion is a part of marketing where a product advertises and market the product and let potential customers to know what they are selling . In order to buy Samsung mobile phones , customers should know what it is, how to use it and why should they buy. It can include several communication activities that .It will provide proper incentives to all stakeholders to make more mobile phones in an company to satisfy retailers and customers(A.B., 2015 ). All mobile phones of Samsung have most sophisticated feature, but at a very keen price. Thus in one hand uses various marketing vehicles providing more variousdiscounts to its partners for motivating them to sellmobile phones during festive season , this will enhance productivity of Samsung mobile phones in all over a year. Marketing promotions can make more revenue to a company that can bears some cost which is to make Samsung mobile phones to be more expensiveyear by year and it will move in a long direction. 1.2 To identifymarket segmentation as a tool in order to define target customers Market segmentation:- It is the process which divides market into various groups or segments that is based on different features. It is composed of customers responding to marketing strategies and can share their interests, need or locations. Samsung is one of most competition market of the worldthat focus on low price products for their target customers. By providing low prices it is ableto compete in lower segment market whereas in upper market it has low penetration. In order to penetrate upper segment market(Thomas, R., 2012)Samsung has to compete in lower market segment. Samsung have to make particular segment for mobile phones and focus on innovation and perceiving for creating high brand value. Demographic- Samsungmobilephonesistargetingagegroupbetween16-29andfocusing businessman, middle classand lower class. It is considered as Samsung guru for government and lower class people. Samsung galaxy mobile phone considered as good option for youth as it provide various attractive features such as Wi-Fi, 3g and 4gservices,gender can be both male and female .Segmentation can be done on the basis of earnings of people who can able to buy Samsung mobile phone that can be affordable to them .
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Behavioural- This type of market segment divides population on basis of behaviour, decision making pattern .Samsung depends on how customers are loyal to buy a product that can make a perfect competition towards market and they can classify into smaller groups. Company can increase sales volume and can generate profits that can make sales volume of Samsungto be high because more customers will buy Samsung phones more demand will be high and it could compete with other mobile phone companies. Geographic- It is a for of segmentation which can define Samsung will require to provide more products and services to customers who are willing to buy Samsung mobile phones .Samsung can selltheir handsets in more than 61 different countries by making slight changes in their phones as per need and demand of customers. It has divided market into various regions or country like Asia and its southern, eastern and northern areaswho are willing to buy Samsung mobile phones. P3 Marketing mix It is a famous strategy used by business that can put right product or a combination of productat the right place and in righttime that can make a perfect business plan to adopt different strategies.Samsung has a vast categories of product like Samsung smartphones such as Samsung note series or Samsung galaxy series which has brand image in the market. Product- Samsung is providing good products such as smart phones that havea high value status symbol for its target consumers. It is well known for service providing and helps company in making high profits. It is one of renowned brand in market which has strongest point in marketing mix. Price- Samsung can use effective pricing strategies of mobile phones that are as follows- Skimming pricing method-The products of Samsung are best in a market in terms of feature and USP's that they provide to kits customers . The recent launch of Samsung product is another entrant in market that is closely catching attain of people. Competitive pricing-For many products Samsung can use this method to compete with companies in world that can gain effective market share to increase profits.It is known as great
brandthat is able to make high competition in today's market, it would beat competitor by using this method . Place- Samsung has various channels in market in order to provide their products to the customers.There are three main segments such as modern retail, distributors, sales and service dealers in a market. In different parts of world, Samsung smarty phone is available for earning maximum profits and sustainability. Promotion- Samsung can use various types of promotionsthat is variable to a market that can make differentiate mobile phones with other products. It wants to pull consumers towards themselves by help of advertising tools for buying of products. The promotion tools helps in creating awareness about upcoming products and influence people to buy it. This also help company to earn maximum profits and increase sales (De Bruyn, A., 2013). TASK 2 1.1 Aim of market research and its analysis Aim of market research- The main aim of research is providinginformation to a marketing manger that can mange all information regarding marketing decision and solves all marketing problems .Samsung need to set plans which can organise plansto make good and innovative product that can lead to efficiency(Avraham, E , 2012 ). The consumers main focuses on most innovative mobile phone that can expanded their growth in a global market which can bears some cost and increases Samsung sales revenue.Samsung can use latest technology in order to create superior product or services to its customers that can contributes a in maximum sales.In order to set aim, Samsung has high value for their people and technologythat can expanded its growth in a particular market. Aim of market analysis- The main purpose of market research is gathering data of potential customers, data that had been their to make decision making which can expand (Gordon, R., 2014)its market growth and more customers are engage to buy more products and the level of competition would be high and more consumers are able to make future profits and can have full efficiency to make more
products.Samsung can provide high quality products for delivering to their customers and services which enhance convenience for them,it have all functions that can make extensible growth and can make a vision make to enhance efficiency and can make a set of innovative products . 1.2 Market research methods These are basically two types of data that can make to find out information gathers from customers i.e. primary data and secondary data that can used to find market related information and gain customer research in various tools and techniques . Samsung mobile phones is able to find what are the competition and what revenue to be enhanced . Primary research- It is a research that can used to find first hand information of data that has not been gathered by any other person in Samsung mobile phone company. Surveys-It can be done through asking customersthat which mobile phone they like most in order to make profit in company, what revenue will Samsung will generate .This can be done in order to make good products so that all customers who want to purchase or not or whether they have all benefits to do a proper survey. Questionnaire and feedback forms- Samsung can prepare a proper questionnaire and maintain a feedback formsto be filled by customersfor getting appraisal from customers related services, future trends to use mobile phones, Quality And quantity. Focus-It can be done through making interactive sessions between customers , conference to be done under the guidance of trained motivator.For example- customers want good mobile phones that have qualityand can make a good view of it.The main target of sellers to beat a competition in a particular market which can focus on that product that can make a innovative approach in a global marketing. Secondary research- In this research the information that had already been collected by some other person . It can includes collection of information through internet, magazine, journals and government sites .It can make to enhance growth of potential and target customers that have a high competition in Samsung company. This can help to inherit competitive advantage of company that can encourage more customers buy mobile phones of Samsung.
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1.3 Porters five forces analysis Porters five forces of model analyse all business strategies that can make a competition in market like Samsung mobile phones.This tool is used to assess about competitive market that has impact on Samsung. This tool helps in making best strategies for business and company. Industry rivalry- Samsung is facing competition with various brand suppliers such as Apple, Motorola, Nokia, Oppo and othersto get greater number in diversity of competitors in market fuels that can beat market competition with others so company can make future profits and diversify its business. Barriers to entry and exit- Samsung has very low threat for entering in market. The main reason behind is that investment required for building such brand is very high which is not afford by every company. Also due to pressure of high regulatory body increases in market that leads to low barriers for new entrants. However, global competitors can be made in order to find and competitive advantage of firm. Power of buyers- Samsung manufactures various range of products such as mobile, home theatres and television for its customers. Due to this, bargaining power of buyers is low and they purchase the products. As customers cannot dump the products which have high brand value in market. Samsung continues used updated and latest technology to provide creative and innovative products for their customers. Power of suppliers- The company purchase raw materials that is required for production from suppliers which greatly affect firm. If they have high demand for raw materials then they can charge any price from company. In case of Samsung, bargaining power of supplier is very low. TASK 3 1.1 Market analysis tools for researching target market for selected product or service Target market research- A particular category of consumers in which company aims to provide products and services that can target those customers who can buy particular products.Samsung has targeted
various range of customers ranging from normal day to day usage devicesto make long term purchase. The market to analyse all needs and want that need to be fulfilall requirements of customers and have full knowledge about company that can make a innovative Samsung mobile product. SWOT analysis- Strengths- Samsung is considered as most successful electronics manufacturer with 21.4% of world's largest market share.Samsung has used impressive research for market analysis and design capabilities that was able to create and roll out Samsung pay,it has strong manufacturing and market capabilities.Samsung has advantage in terms of introducing advance features in LCD, refrigerator, Air conditioner, which helps in increasing brand value by 80% in past three years (R.D., 2016 ). Weakness- Samsung is unable to compete with Apple brand in market which is drawbacks for it. As it is dependent upon customer purchasing electronics products in market with helps in growth and profit of firm. Opportunities- It can enhance market in terms of smartphones, tablets and other mobile devices especially in developing regions such as Africa and India where consumers are unfamiliar with PC's,It manufactures products for middle class people for increasing market share in terms of electronics products.As Samsung has strong financial position where there is a scope of entering into unrelated diversification. Threats- Samsung has various category of product due to which failure of one product line will have greatly impact on other brands,it have threats with Chinese products the cost of raw materials and labour kept on increasing over time to high operational costs for Samsung (Morden, T., 2016). It can arrange concern as a high-tier and low-tier smart phones that can increased efficiency in a competitive market which can make potential growth. It have threats with countries like china, Taiwan and India products in local market and have large number of competitors in which market is growing and saturated that can have to increase sales revenue of a particular market.
1.2Conductresearchandpresentquestionnaireandinterprettheirfindingsandmake recommendations on graph Primary research Samsung is an electronic company which is in South Korea headquarter in Su won.It is the world largest company dealing in information technology,consumer electronics maker. Samsung is considered as major manufacture of electronic components like hard devices semiconductors and flash memory. Company- Samsung ;Product- Mobile phones Questionnaire Samsung questionnaire Name: Age: Contact no: Email id: Q1) Are you happy with the quality of Samsung mobile? ï‚·Yes ï‚·No Q2) Samsung phones have excellent customer services? ï‚·Agree ï‚·Disagree Q3) What is the customer's reaction towards Samsung mobile? ï‚·Positive ï‚·Negative ï‚·Neutral Q4) Major factors that need to be worked upon? ï‚·Quality ï‚·Cost ï‚·Services Q5) Does the features of product influence on your purchase decision? ï‚·Yes ï‚·No
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Q6) Which promotional offer attracts you most? ï‚·Price offer ï‚·Discount ï‚·Free gifts Q7) Is there any requirement to reduce cost of Samsung mobile phones? ï‚·Yes ï‚·No Q8) What changes do you want manufactures to make in this brand ? Q9) Samsung mobile are very user friendly? ï‚·Strongly agree ï‚·Disagree ï‚·Strongly disagree ï‚·Agree Q10) Did you have any suggestions related to Samsung mobile? Analyse from the Questionnaire from above data table Q1.Areyouhappywiththequalityof Samsung mobile ? Frequency ï‚·Yes20 ï‚·No10
Interpretation: From the above table , it has been identifies that Quality of Samsung phones are most attractive that buyers are attract over the product. Q2.Whatismostsatisfyingfeatureof Samsung mobile? Frequency ï‚·Cost10 ï‚·Quality20 YesNo 0 5 10 15 20 20 10 Column C CostQuality 0 5 10 15 20 10 20 Column C
Interpretation: From the above table ,it has been analysed that most satisfied feature of Samsung mobile is Quality i.e. 35 respondent are in favour of out of 30. Q3.Do you think mobile handsets of Samsung includesfeatureslikesocialnetworking, gaming and music? Frequency ï‚·Yes18 ï‚·No12 Interpretation: From the above table, it has been analysed that Samsung have all features which can make a high profit in a competitive market. Most mobile phones do not have feature but Samsung is a world largest brand that can make more sales revenue. Q4.Whatiscustomerreactiontowards Samsung mobile ? Frequency ï‚·Positive12 ï‚·Negative10 ï‚·Neutral8 YesNo 0 2 4 6 8 10 12 14 16 18 18 12 Column F
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Interpretation: From the above table , it has been identified that in between 30 respondent 12 are react positively towards while 10 are in negative response. The customer can reaction would be good if the product will react high and it had many distinguishing feature that can capture all needs of a product. Q5. Do you find any difficulty in Samsung mobile brand? Frequency ï‚·Yes9 ï‚·No21 Interpretation: From the above table , it has been analysed that 21 are not finding difficulties because brand is been increasing profits in market outlets and more people are purchasing it. The PositiveNegativeNeutral 0 2 4 6 8 10 12 1412 10 8 Column C YesNo 0 5 10 15 20 25 9 21 Column C
buyers in company can make reasonable profits in order to distinguish feature from it and capability of product can increase. Q6.AreSamsungareingoodquality products? Frequency ï‚·Yes20 ï‚·No10 Interpretation: In a following interpretation, Samsung phones are good quality in which 20 are in favour that can increase profitable growth which can increase sales revenue of a particular brand which can compete in market which can make efficient use of resources and consumers can prefer those brand which have a good quality of product and more consumers can be able to purchase and it can become most innovative (Vicente-RodrÃguez, G , 2012 ). Q7. When you buy a Samsung mobile ,what payment method we can apply ? Frequency ï‚·Cash15 ï‚·Credit card15 YesNo 0 5 10 15 20 25 20 10Column N
Interpretation-In the above interpretation, both of category are same because people can buy both from it that can increase growth of Samsung mobile. TASK 4 1.1 Methods to use in e-markets and services E-Marketing- It is the way of marketing brand in market which uses internet including direct response aswell as indirectmarketing elements. It useswide range of technologiesthathelping connectingbusiness and their customers. Samsung mobile phones uses various e-marketing media such as wireless media, e-mail and web. Blogging- E- marketing is the first methods of marketing which helps in effective promotion of products.It is used by Samsung to marketing mobile phones or services to target a particular segment of customers with e-mails.It is the best methodbecause it is low cost, target correct strategy and can increase return of investment that can increase sales of Samsung company. Search engine optimization- It is the type of art that is increasing appearance of website in first results of search engine.It is done by target some keywords in website to appear most appropriatesearch engine that can make low cost paid in mobile phone . Samsung also increases number of visitors and followers to buy mobile phone (Sinha, N, 2014). The people can make more innovative product that can lead to efficiency and can particulate allSamsung products to make Samsung a good CashCredit card 0 2 4 6 8 10 12 14 161515
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innovative product that can lead to increase growth and can increase all growth so to compete in market and can lead to make more efficiency to search different products of Samsung products , it have many competencies that can have to increase products in a competitive market and make established goal in market that mobile phones have a full efficiency to compete with it. Social media channels- Social media is the type of communication tools which is used by company to make a value of products or services to increase fame and spreading service through media channels.In a company, it helps in increasing knowledge and reputation of brand and sales of mobile phones will increase (Nicolau, I., 2016.). Samsung can target both upper and lower class people that can make target for customers, it can make to increase all strategies that can make Samsung a good brand which makes more profits. More customers will engage , more demand will high and can make profits . 1.2 Online image of a company It is a source by which Samsung build a great image of mobile phones by online portals to increase sales revenue and growth of an enterprise. Write a blog with professional and inspirational context- Blog is a perfect place top shares value of company and products and can create image of expert. Samsung can put lot of effort to build to make blog section where customers can writes blogforlikingtheproductthathavecreateagoodimpactincompanytomake infographics,relevant charts and pictures. Reply in every request- It is important to show current and potential clients that Samsung business can be accessible and treat people respectfully. The best to take advantage of them and can give replies of all social media profiles that would be great proof of quality of services and products(Borges, L., 2012). Monitor the web to see what others write about company- Online monitoring will help to find negative opinions before they ruin your reputation that can track key words will find bad review or comment in social media and react it on time that can make online effect on digital media to increase all resource(O'Sullivan, C., 2012 ). Target Influential and Influences-
Some people have great review that they can do on blogging, online portals at the top of the industry that company can expertise which can increase sales and makes revenue to maintain all forms of business .Samsung can supply all materials that can make more demands to customers and can have an effective way to increase more sales profit. CONCLUSION This report concludes that marketing forms many function in order to gain competitive edge over customers and can retain and attract more customers .There are different types of marketing research that Samsung can conduct by using various tools to know about mobile phone a position for make a potential customers and can attract them. The company had done SWOT analysis , make porters generic model to make a company extensible growth and can beat a strong competition in market. There are various techniques that company had distinguishes various products to increase sales revenue and profits. However for getting strategies in right direction and successful Samsung company must understand their customers , known the competition brand , review their offering on regular basis and get business unknown and make a potential and retain customers .Marketing plans and principles are right ways to make perfect plans and can make new innovations . In report some graphs and recommendations of Samsung to make a competitive product and make anew innovation.
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