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Executive Summary Marketing strategies are very fundamental in any organization as they promote competitive advantage in an organization. Marketing strategies and programs are at the core of building the brand equality of any organization (Dudin & Frolova, 2015). This is because it is through marketing planning that the brand awareness and the right brand image are created for an organization. There are several key marketing strategies and activities that organizations can undertake in the course of their operations in an attempt to build equality into the brand as well as get a competitive edge in the industry. Organizations weave their marketing activities around essential programs such as distribution channels, product differentiation, pricing, communication,andbrandarchitectureinordertoincreasesalesandprofit(Menon, Bharadwaj, Adidam & Edison, 2015). Marketing planning is equally important as it ensures the goals and objectives of an organization are clear to staff members. This paper is a discussion of the role of marketing plan in Samsung Corporation.
2 1.CURRENT SITUATION Just like any other business Samsung also has its own structure. This structure is essential for addressing the requirements of the company, especially in the department ofinnovationandcreation.Samsungorganizationalstructurefeaturesinclude products divisions, division of geographical areas and corporate-based teams. These teams are formed on the basis of the company’s functions in the management of its operations. This feature is generally based on the necessity of networking (Chu, 2017). For instance, the company requires technology development from the research carried out. Corporate teams of Samsung include the chief executive, operations, finance,technology,accounting,security,marketing,globalpublicpolicyand information among many others.
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3 2.OBJECTIVES To fulfil the marketing vision and mission statement, there is a need for the whole world to be connected to the use of the internet. This is one of the major investment projects by the Samsung Company. Connecting the whole world to the internet is not as easy as it sounds since it has been challenging to the company despite its daily campaigns all over the world. The methodology used by the company to solve this issue starts from the fact that all issues or problems can be solved (Cha et al., 2015, p. 81). From the latest statistics, the population of earth is estimated to be roughly 7.2 billion and only 2.9 billion people are connected to the use of the internet. This basically leaves just 4.3 billion people who are not connected to the internet. The managementclaimsthatwiththerightinnovation,connectiontotheinternet worldwide will be achieved. Samsung Inc. through a coalition with other technology companies believes that through their partnership they will bring internet to almost two-thirds of the whole population that lack the access to the internet.
4 3.TARGET MARKET Samsung is forever a superior group from several years and ongoing till now. They are forever focus on their promotion policy to raise their sales day by day Samsung has a broad variety of goods like mobile devices which include smart phones, tablets and other mobile devices. 0n the other hand, they are also selling in home appliance (such as refrigerators, air conditioners and many more), they are also selling television sets and LCD’s as they are the biggest company of TV sets.
5 4. MARKETING STRATEGIES 4.1- POSITIONING 4.2- PRODUCT OFFERING 4.3- PRICE 4.4- PLACEMENT (DISTRIBUTION) 4.5- PROMOTION 4.1POSITIONING Samsung is on top these days either we talk about any of the range they have maybe of electronics or smart phone segment itself. Samsung is offering a huge range of the products all over the world which fits in everyone’s budget. Samsung knows very well to capture its customers of any age group. If a customer is of 20—30 years the company is focusing to impress them with their style and uniqueness. If any customer is of mature age or age between 30-60 years then definitely company is focusing on its technology and reliability. Positioning is nothing but the face value of the company in the market (Kafaeipour, 2015, p 733). Samsung uses their marketing mix strategy to make its position number one all over the world. Product marketing supports it in a unique manner as they have a huge and wide range of the products in all the segments, moreover price strategy also helps them as they have a product in every range of price either in low prices with less features or high prices devices with unique features. Samsung is all about taking care of every client either it’s a small or big profitable to the company itself.
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6 4.2PRODUCT OFFERING Marketing is always on peak for Samsung as they have huge quantity of goods range like home appliances or LCD’s or USB flash drives also. (Business news, 2013) In PRICE marketing Samsung is a market head in the smart phones particularly as they are given that a bigger range of smart phones which are starting from 5k to even 15 Lacs Rs Samsung constantly charge high total for their goods specifically when they start on them with any new feature or style but, when any of the opponent launch the same characteristic or way then, Samsung always reduce the price of that item. This policy of Samsung is well known skim policy where they must get high-quality and larger share of the customers induction new smart phones before any of the opponent (Yun et al., 2019, p 27). Samsung is receiving a good split and enlarged their sale very quick because of place marketing also. Samsung straight deal with the retailer and their repair dealer by this strategy only the service dealers are accountable for the business and high rank sale. 7
4.3PRICE Price is an important factor as it helps the organization to capture the maximum share in the market. Samsung is offering its products at all the prices from lower to higher range of products, It is all about taking care of all the customers either they are high priority or regular level customers.
8 4.4DISTRIBUTION (PLACEMENT) Place is an important aspect for any of the organization and Samsung utilizes it very well. Samsung takes care of their counters personally and the direct dealers so that their products should be available very easily at all the places and people should not seem it difficult to find out any particular product.
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9 4.5PROMOTION Promotion is also important, and Samsung knows e in urban areas or villages through newspapers and rollers where everyone is habitual with televisions or social media like news etc. Launch of any new product is dependable on the age group and the area of selling and promoting it very fast .Samsung is also offering demo or trial versions to their dealers so that they can show it to their customers and grab 50 '1 -ood orders in well advance.
10 5MARKETING IMPLEMENTATION Samsung Inc. has strategies to ensure that the business is able to maintain its competitive advantage in the social networking business based on the accessibility and efficiency on the provision of its services. The approach used by the company for business growth is the porter’s model for generic competitive advantage (Teimouri et al., 2016, p. 7). In this case, it is clear that the strategy used by Samsung ensures that there is growth and competitive advantage through the ease of access and the social network features to capture large share of the markets, so as to address competition against other companies such as Twitter, snap chat, Google which are well established in the social networking businesses. Samsung strategies have insisted on market penetration to act as thrust to grow. The strategies used by the company clearly align with the company’s strength which ensures the company is able to maintain its position in the markets as one of the leading social networking firms (chul, 2014). Samsung’s strategy supports the business through ease of accessbythecustomersandensuringefficiencyinthecompany’soperations.These strategies make the Samsung website to be accessible more broadly worldwide leading to a consistent growth of the Samsung's market position. The strategy used by Samsung is the cost leadership competitive strategy. This entails reducing the costs of doing the business. Minimizing the costs ensures that Samsung Inc. reduces its costs appropriately. The company has ensured the provision of its online services to global markets. The nature of Samsung ensures the company provides its online services globally. For instance, the company has been able to maximize efficiency through the use of computing technologies in the networking business (Jamali and Khan, 2018). The nature of the business which is online enables Samsung reaches it users’ across the markets through the use of the internet, therefore achieving the competitive scope of the cost leadership strategy. This cost leadership strategy leads to achieving the objective of expanding the user base of the Samsung online platform (Kimand Ko, 2010, p 63). By achieving these objective company revenues are likely to increase by35% annually. Due to this competitive advantage, Samsung will fulfil its other objectives by focusing on growing the number of persons using Samsung which currently is estimated to be 2 billion users monthly.
11 6. Budget Costmanagementinanycompanymainlyentailsbudgetingwhichfurtherentailsof monitoring and allocation of the budgets. Financial management systems are essential for tracking the utilization of resources. Effective financial control and planning help companies make the right decisions while running the business, demonstrate accountability, ensure efficient use of resources and finally it makes it easy to take remedial actions where they are needed. Core expenditure of the Samsung Company depends on the total budget allocated to its various divisions from the finance and the management division. Samsung Inc while allocating the core expenditure, they should consider the strategies planned to implement to ensure effective competition and how finance will be used to achieve these strategies. The executives should also consider income targets from the operations of the company. Finally, they should consider prioritization of activities and existing expenditures within the various departments. 7. EVALUATION AND CONTROL There are tools in almost all social media platforms essential for analysis. In the case of the Samsung Company, insights such as weekly total reach, total likes, people talking about this and friends of fans. Such operators are essential for measuring performance within the social media platforms. Apart from these, there are also key figures which are independent and are useful for measuring performance. This balanced scorecard act as instruments to provide approaches to integrate social media campaigns into corporate strategies and for clarification of these online strategies. It is also useful for the measurement and analysis of social media activities.
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