Marketing Report: Samsung's Marketing Environment Analysis and Integrated Marketing Communication
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This report analyzes Samsung's marketing environment and integrated marketing communication strategies. It covers the company profile, SWOT analysis, micro-internal environment, macro-environmental analysis, marketing communication mix, DRIP model, and integration of online and offline media.
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Contents INTRODUCTION...........................................................................................................................1 MAIN BODY...................................................................................................................................1 Company profile...................................................................................................................1 Marketing Environment analysis.....................................................................................................1 Internal environment...........................................................................................................2 Micro-internal environment................................................................................................3 Macro-environmental Analysis...........................................................................................4 Integrated Marketing communication..............................................................................................5 Marketing communication Mix and DRIP Model............................................................5 Integration of online and offline media...........................................................................................6 CONCLUSION................................................................................................................................7 References:.......................................................................................................................................8
INTRODUCTION The marketing refers activities which is taken for promoting the company products and services by taking use of advertising, selling whereas data analytics helps individual and organisation in determining insights and trends of market. This helps in increasing the efficiency and performance is improved by discovering data patterns(Ahuja, and Alavi, 2018). Marketing analytics is study of data which helps in evaluating performance of marketing activity. The report is based on the Samsung. The report will cover evaluation of company marketing environment, integrated marketing communication by using of several models and how company is integrating their online and offline media. MAIN BODY Company profile The Samsung is taken which is south korean multinational electronics established in 1969 dealinginindustryofelectronics,automation,artificialintelligence,computerhardware, semiconductors, home appliance and many more. The company is largest manufacture of mobile phones and smart phones. It is also an major vendor of tablet computers and developed several 5G phones. Its headquarter is located in yeongtong district of Suwon. It deals in the electronics sectors. The company has 370,000 employeesworldwide. The company has core values involving people, excellence, change, integrity and co-prosperity. The meaning of company means 'Three stars' and became major leader in innovation (Chatfield, and Reddick, 2018). In several product s it gain market leader position because of its unique innovation skills & technology and having competitive advantage over rivals. Through the help of big data analytics it can process complex information by obtaining valuable insights to drive growth. The Samsung is adopting big data in diverse fields from high performance computing to innovative cloud computing & data centre systems. Through big data progress can be tracked and understand customer behaviour along with internal operations are monitored. Marketing Environment analysis The concept of marketing environment comprises of all internal and external factors which helps in influencing the marketing activities of organisation. To tackle with threat manager is required to be aware of marketing environment and opportunities affecting work.
This involves controllable and uncontrollable factors. It dynamic factor as there is constant changes over time which can be technological advancements, industry regulations etc. Internal environment This involves the factors which are in control within the organisation and impacting on the marketing operations by considering the SWOT analysis. It is related to atmosphere within the company structure and involves daily interactions with employees. SWOT analysis This is a technique which helps in assessing the aspects of business by considering strength, weakness, opportunities and threats. It devises a successful strategy for the future by evaluating company competitive position. In context to Samsung following is done of SWOT analysis. Strength-The Samsung is world most successful manufacture of electronics in world along with mobile and smart phones. It has 21.4% of market share as compare to other company which is an strength for Samsung.This has unique research and design capabilities which created an Samsung pay a payment app. It also have strong marketing and manufacturing capabilities which is reflected as its strength and have long standing relationship with retailers(Eybers. and Mayet, 2020). Weakness- The company is facing weakness in some Chinese competitors which is catching up to Samsung in smartphone market. It has limited potential for growth as Samsung is heavily depending upon consumer electronic sales in market which is its weakness. The marketing efforts are not as much sophisticated in comparison to other company.The Samsung has to invest aggressively even in small market share growth due to intense competition. The company brand image is impacted from lawsuits, challenges from environmental agencies which reflect to its weakness. Opportunities- The company has opportunity of increasing sales in developing regions due to growing marketfor smartphones, tabletsand other mobile devices. It has opportunity for developing new technologies such as Wearable tech which can help in boostingitsbusiness.Thegrowthofonlinemarketfromsaleschannelssuchas Amazon.com is great opportunity for Samsung. It can innovate more in existing product line along with diversify into new products(Ghasemaghaei, Ebrahimi, and Hassanein, 2018).
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Threats- The Samsung is facing threat from several competitors such as Apple, Huawei technologies, Intel etc. The growth of other brand reputation, reliability is an threat for Samsung. The other brands can also enter in more consumer products such as home appliances and directly competing with Samsung in market can be a major threat. The fluctuations in currencies, economic crisis can affect supply chain & business operations of Samsung. Micro-internal environment This has close link with business and affecting market operations directly which involves thefactorsofcustomer,suppliers,businesspartnersandcompetitors.Thesefactorsare controllable within business. It is an operating environment of firm which affects performance and decision making of business. It can take use of Porters five force model. This model helps in identifying and analysis competitive forces which helps in shaping industry and determines the corporate strategy. Competition in the industry- In the industry there are large amount of rivalry which involves both Apple and Samsung. The competition is intense as products developed by them are similar in both function and appearance which leads to high power. The Samsung is required to be aware of the competitors’ strategies and attempts to increase brand awareness, market share & loyalty(Graessley, and et.al., 2019). Potential of new entrant into industry- The power is medium as Samsung electronics is present in highly competitive industry in which companies are competing with each other in terms of product prices, innovation & uniqueness. For the new entrant it would be difficult to develop customer knowledge and branding as present brands are well known. For the Samsung the largest threat is in terms of new entrant into industry who has potential of developing products which are substantially different from those already offers. Power of suppliers- Within the mobile industry the power is as there are many suppliers of components and easy for the companies to switch suppliers if products prices are high from one supplier. It allows the Samsung not to driven by the demand of suppliers. Memory chips, processors, and screens are all made by Samsung Electronics.As a result, Samsung Electronics finds itself in the rare position of serving as a supplier to its main competitor.
Power of customers- The power of customer is high as there are number of customers present in mobile industry which presents the consumer large number of options and for several consumer innovation is significant and prices also important. The consumer van switch to other companies easily on the basis of offers, better options and lower costs. The strong loyalty leads to customer accept higher prices and few services that they demand(Ireland, and Liu, 2018). Samsung Electronics must keep well-informed of the needs of its customers as well as the various possibilities available from its competitors. This allows the organisation to remain competitive while also understanding how to best exploit its market. Threat of substitute products- In this power is low as smart phones are increasing which provides consumer several functions. The development of substitute decreases the ability of Samsung to control market as consumer can switch to other products easily. The patent can be strongest factor which can limit the substitute products Macro-environmental Analysis This is part of strategic management of comoany which enables in analysing and identifying of potential opportunities which impacts on organisation. In the organisation analysts are employed for evaluating factors of macro-environment which is related to politics, economy, demographics and technology factors. In context to Samsung SLEPTS analysis is done. This framework helps in understanding the market dynamics and continuously improves the business. This involves several factors which in context to Samsung. Social factor- This comprises of customs, traditions which differs from one group to another. The product demand is affected with the social status. The strategies are incorporatedbySamsungsuccessfullyofglobalthinkingandactinglocally.The Samsung has customised its products in accordance to local customer needs and change in needs puts implications on business in positive and negative way(Mandal, 2018). Legalfactor- There are several laws and regulations which needs to be followed by Samsung company in order to run its business operations in effective way. the laws can be related to employment and tax, consumer data protection, intellectual property rights etc. Economicfactor- The consumer disposable income in developed nations is adversely affected with economic crisis. The Samsung comoany is forced to expand the profitable
ventures in emerging nations. The fluctuations in exchange rate also puts an negative implications on business financial health. Political factor-In success of organisation the political stability has major role. The change in current government structure leads to business disruption and business loss. The having of good relation between two countries puts direct impact on business. The company is operating in more than 80 countries(Mathew, 2019). Technological factor- The companies are taking best use of technology for having the unique brand image. The Samsung is bringing innovation to have competitive advantage and launched several innovative products by taking use of various digital technology for marketing and unique customer relationship is established. Substantiality factor- The concern for sustainability is increasing in environment as customer prefers those brands which is providing products in sustainable manner and having continuous focus on carbon foot print. Samsung has concentrated on lowering its energy use and reducing the risk of water consumption. Energy management systems have been installed at all workstations, and energy expenditures and indications have been successfully monitored. Integrated Marketing communication It defines the procedure of unify marketing communication elements such as public relations, audienceanalytics, advertising,social mediainto brand identitywhich remains consistent across distinct media channels(Mittal, 2020). It is holistic marketing approach which consider marketing strategy within larger context of company aims and business development. With this Samsung can promotes its brand which increases awareness of products and services that facilitates in increase of sales, high profits and revenue. Marketing communication Mix and DRIP Model The marketing communication mix is used to promote the product or service to target audience of the company. In context to Samsung marketing communication mix involves several elements which are discussed below- Advertising In this customer are informed about product or services in paid or indirect way through television and radio. Public relation is one of the most popular forms of advertising which helps
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company to communicate information about product or services easily to large target audience with little efforts in context to Samsung. The advertisement influences purchasing decision. The print and media advertising are extensively used by Samsung for its specific products(Raut, and et.al., 2019).It also takes use of media advertising campaign which involveslive commercials forSamsungGalaxyS3deviceonpopularJimmyKimmelLiveshowinJune2012. Furthermore, in 2012, a partnership with Fox channel in the United States to run four 30-second commercial segments during National Football League, college football, and World Series games was acclaimed as an effective marketing strategy. The Samsung print advertising involves newspaper, magazines and journals for product promotion and compete with competitors. Sales promotion This involves several short-term incentives in order to persuade customers to initiate the purchase of goods and services. This involves rebate, discounts, paybacks, buy-one or get one free scheme, coupons etc. The sales promotion provides reason to consumer to buy product in from of discount and provision of incentive is included for dealers and distributors. It requires low cost and less capital to get product move. In context to Samsung, it takes use sales promotion as marketing tool which involves techniques of Samsung reward program, point of sales material, free gifts etc. The prime reason of sales promotion is to boost sales. Direct and digital Marketing Companies communicate directly with clients through various channels such as text messaging, promotional letters, newspapers, magazine adverts, and so on in direct marketing. Digital marketing is a type of advertising that takes place on a computer screen. It could be a computer, smartphone, tablet, or other electronic device. Digital marketing refers to the use of digital visuals to entice customers to click, tap, or visit a certain brand's website. In direct and digitalmarketingcompaniestakeuseofEmails,Faxesandmobilephonesinorderto communicate directly with prospective customers without involving any third party. The digital marketing is most form of advertising among all media as it is accessible to small business and less expensive than traditional television advertising(Sen, and Ongsakul, 2018).The use of this helps Samsung in generating more revenue than television, radio or newspaper. It also helps Samsung in reaching to target audience. In the direct and digital marketing, the key attraction is brand making personal connection with consumer. The use of digital and direct marketing by Samsung helps in reaching to specific audience segments with personalized messages.
Integration of online and offline media The integration of online and offline media of marketing strategies helps in delivering consistent brand message, and it is more effective at driving action from consumers. The consumer wants ease in buying products through digital platforms and personal offering which comes from purchasing products in-store. The integration of both online and offline helps in building trust and cohesive brand. The customer wants benefit from the advantage of digital platforms and offline convenience of personal service and touching physical products. In context to Samsung, it can promote its offline products through online methods on website, social media which helps consumer to notice and pay attention to ads of the product. in alternate TV and radio can be used for pushing offline consumer towards the website for online event or promotion by spreading message from both channels will helps Samsung to reach larger audience(Srinivasa, and GM, 2018). The integration of online and offline media ensures brand consistency which is crucial for brand success. If a customer sees a physical marketing effort, such as a leaflet, the digital version should match the leaflet's logo and language. The website should complement your physical location. This familiarity with both online and offline marketing helps Samsung to develop trust with audience and encourages customers to purchase through both channels. Analyse marketing campaign decisions and influence of data analytics The market campaign decisions help in promoting the products through different media which involves television, print and online platforms. The market campaign is set of strtaegies which is used by Samsung for promoting its business objectives and goals. To attain effective results the Campaigns are carefully planned and activities varies. The Samsung creates market campaign on the several platforms such as Facebook, Linkedln, Pinterest, Twitter etc. Data analytics assists businesses in making better decisions in order to increase productivity and efficiency(Tillem, 2020). Making data-driven decisions will, first and foremost, improve the consumer experience. The Samsung can take use of data analytics to understand staff and consumer interactions. Big data and analytics can assist a company in predicting consumer behaviour, improving decision-making across the board, and calculating the return on investment of its marketing initiatives in framework to Samsung. The company would not only be able to protect its market share, but even expand into other territories, if these issues were appropriately addressed. The role of data in business decision helps in demonstrating company vision. The use of advance data technologies through AI and machine learning becomes understandable which
helps wide community when used for predictive analysis of sales, equipment depreciation, and asset risk. Plus it improves overall business performance. How integration achieved The integration has achieved through technological developments which makes buyers hyper connected and empowered. The company wants to be benefited from both the digital platforms and offline convenience of personal services(Wang, and et.al., 2019).The integration of online and offline data helps in offering complete version of story which enables marketers to crafteffectivecampaignthatcanappealtonewtargetaudiencesandopportunitiesare maximized in order to convert potential customers. The integration of offline and online data empowers brands to develop more personalized customer experiences. Social media metrics The use of social media metrics helps in determining the social strategy is effective or not. This metric is important as it helps in measuring success of campaign and how well social strategy is performing which impacts on overall business. For every social platform there is native analytics. The metrics involves engagement, impressions, reach, share of voices, referrals, conversions and response rate & time etc. all this helps in providing view of social media performance(Wang, and et.al., 2020). CONCLUSION From the above it can be concluded for the organisation marketing is an important function which helps in appealing to great customer and satisfaction is main concern in marketing which is related to product and services offered. In the report market environmental analysis is been discussed which consist of internal and external environment that comprises of SWOT analysis, Porters five forces and PESTLE analysis which puts affect on the organisation. Further, there is discussion on integrated marketing communication which take use of several promotional techniques for attracting customers and to promote the products such as advertising, sales promotion and direct & digital marketing. Moreover, there is discussion on integration of online and offline media to cater customers along with facilitating increase of sales.
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