Marketing and Events Planning in South Korea

UNDERSTANDING MARKETING AND EVENTS SPRING 2019 INTRODUCTION 1 MAIN BODY1 Explain special events and their examples.1 Key marketing activities of Samsung and roles for overall marketing strategies. 2 STP of Samsung's open air screening program 4 Risk management considerations to be taken care of while planning for this event 5 CONCLUSION 5 REFERENCES 7 INTRODUCTION Marketing is a study of relationship of exchange. Also, the company undertakes marketing strategies in order to deliver their products to their customers.

UNDERSTANDING
MARKETING AND
EVENTS SPRING 2019

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Explain special events and their examples...................................................................................1
Key marketing activities of Samsung and roles for overall marketing strategies........................2
Role of marketing mix (4P's) and uses undertaken by Samsung. ...............................................2
STP of Samsung's open air screening program...........................................................................4
Risk management considerations to be taken care of while planning for this event...................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing is a study of relationship of exchange. It is a process of business which creates
relationships with customers and satisfy them (Burghausen, and Balmer, 2015). Spring events is
a function or occasion which is held in spring season within a special community. In this report
Samsung is taken for better understanding. Samsung is a south Korean multinational
conglomerate. The products offer by the company is medical equipment, telecommunications,
home appliances, electronics etc. The report will lay emphasis on special events and some
examples regarding it. Also, key marketing activities undertaken by Samsung will be discussed
in the report. 4P's of marketing mix of Samsung will also explain in the report. STP of Samsung
will also perform in order to promote brand. Also, some considerations of risk management will
also be highlighted in the report.
MAIN BODY
Explain special events and their examples.
Special events
A special event is an occasion or function which aims at generation of money. The events may
vary with level of suitability and complexity for different group. Functions, dinners, award
nights, fairs, grand openings and fund raising events can be classified as different types of
events.
Some events of UK are New Year's Day parade, Celtic Connections, Dark skies' festival, Burns
Night, Jorvik Viking Festival,Olney Pancake Race, Glasgow film festival, etc (De Propris, and
Storai, 2019).
Examples of some events are :
 Dark skies' festival
The national parks of North York Moors and Yorkshire Dales remains the darkest place in the
England. This event held in month of February and ends at March. In 2018, Stargazing, games,
ghost and wildlife walks, night zips, bike rides and starlight runs and more activities included in
this event.
 London Fashion Week
This is a fashion event and ultimate considers by fashion industry. In this top designers of the
world shows their collections by curated talks, catwalk shows, trend presentation and designer
shopping. This event held in February 16th to February 20th.
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 Olney Pancake Race
This is a unique event which conducts race for ladies. In this race, ladies in aprons runs in streets
of Olney. Local housewife runs along with their frying pan. Also, they make pancake at
beginning and at finish. This event was latest held on 5th March in south east England.
Key marketing activities of Samsung and roles for overall marketing strategies.
 Product diversification strategy
Samsung uses different strategies while launching their new products in the market. The
company is focusing through product diversification to attain marketing strategy of Samsung.
Although diversification among products is risky as well as costly. So, company like Samsung
need to undertake every event with great care. Product diversification strategy is best of the
company because their customers are of diverse democratic and psycho-graphic background
(Gazley, Sinha, and Rod, 2016).
 Technological innovation
The Samsung has developed their products as well as innovate them to gain competitive
advantage. The company is facing high competition from Apple. The company launches various
range of smartphones and tablets. Their promotions are done by social media marketing such as
on Facebook and Instagram. Also, company survey the market they are dealing in to identify the
trend and desire of peoples and make innovation in their products accordingly.
 Promotional strategies
The company Samsung undertakes many services of promotion. The company follows different
promotional techniques like Through sponsorship, conducts various events for marketing such as
Samsung team of empowered partners (STEP). Also, the company endorse celebrities for brand
ambassador to promote their products. The company also uses social media to promote their
newly launched products and identify their features to attract more customers from different
geographies.
Role of marketing mix (4P's) and uses undertaken by Samsung.
Role of marketing mix
 The needs and desires of customer can vary so 4P's helps the firm like Samsung in
gaining revenues.
 The needs of customers changes with business environment. So, 4P's manages balance
between market and the firm (Smith, and Wilson, 2019).
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 4P's are interrelated with one another so this forms and helps Samsung towards integrated
approach.
 4P's lead to customer orientation form of marketing and help Samsung in forming link
between customers and firm.
Use of 4P's undertaken by Samsung
 Product concept
The Samsung engage in research and development in order to deliver best and quality products
to their customers. The company offers wide range of products. These products are categorized
as mobile devices, Home appliances, TV, Information technology, Memory, etc (Sarmento,
Simões, and Farhangmehr, 2015). To gain competitive advantage in prevailing market the
company develops and innovate their products according to desire and needs of customers. Such
as arranging open air screening program by Samsung launches their Smart TV by conducting this
program. The digital quality and screen attracts many customers.
 Price concept
The company follows two schemes of pricing. First is Skimming price and other is competitive
pricing. In skimming price company launches the range of new products in different range of
capacity like storage. But their prices affects by same product launch by competitors. They lower
price of their products in order to attain competitive advantages (Layton, 2016). By changing
their strategies time to time Samsung is able to maintain their position. Like, Samsung launches
galaxy fold range by conducts an events and then launch their price which was between £669 and
£1,099.
 Place concept
The company sells directly to service dealers and retailers. By following this strategy service
dealers are only responsible for corporate sales. The strength of Samsung is their distribution.
The company also uses single company of distribution in a particular location and further they
distribute in other locations. Events like Samsung team of empowered partners (STEP) is a
program conducted by Samsung to expand their electronics market presence. The company is
making efforts to increase their partners and distribution channel.
 Promotion concept
Samsung believes that advertisement is the best type of promotion to engage the potential
customers and brand position. The company promotes their products through digital media and
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newspapers (Muhlmeyer, Huang, and Agarwal, 2019). Also, they endorse brand ambassadors to
promote their product. Events such as Samsung team of empowered partners (STEP), open air
screening program. The company launches their product through these events as it covers huge
customer base and wide distribution of their product. Samsung uses their smart TV range to
attract customers by immersive cinematic experience.
STP of Samsung's open air screening program
 Segmentation
Geographic Urban cities of United kingdom are targeted for open air program.
Demographic Age: peoples between 23 to 40 years of age will be suitable for open
air program conducted by Samsung.
Behavioral
Loyalty status: Status of loyalty may vary between low to high.
Benefits: Awareness of products of Samsung between customers will
create after this program. The customers also may able to use new
technology (Ku, and et.al., 2019).
Buying Pattern: The consumers buying pattern will fell between light
to heavy and the sales of company will be based on promotional
activity.
Psycho-graphic
The customer class will be middle to upper class people. But Also,
lower to middle income class of people can buy product of Samsung.
People who love to follow trend can buy the products. Technology
lovers will also buy the product launched by Samsung.
 Targeting
Primary target Secondary target
 To gain customers of competitors.
 To attract customers who love to
follow trend.
 To gain attraction of technology
lovers.
 To gain consumers of different
market segment. Like smart home
ware (Greenway, and Ross, 2017).
 To retain existing consumers and
will try to earn loyalty.
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 Positioning
The Samsung will position themselves on behalf of program of open air screen. The company is
actually promoting their products by open air screen event. So, they are most likely to focus on
their promotional activity because the company focuses on more promotional activity in order to
increase their sales. The company in positioning map will retain their position to increase in
promotion and increase in sale.
Risk management considerations to be taken care of while planning for this event
 Competitors risk
The risk of competitors are very high when a company engages in marketing and spring events.
Samsung is facing tough challenges from Apple. Therefore, the company need to keep an eye on
the activities of competitors because they can ruin their events of open air screening (Dumont,
and Wolf, 2019).
 Risk associated to loss of reputation
The loss of reputation of big brand like Samsung leads to loss of customers as well as sales. The
company have to manage their reputation to gain loyalty of customers so that they can attain a
strong customer base (Séraphin, 2019). The customers can trust the company with their
reputation only. So, the company while conducting events should take proper care of their
display screen, arrangements of parking facilities for guest arrivals, food and beverages for them.
CONCLUSION
The report was concluded about marketing and spring fest of Samsung in the year 2019.
The report was begun with a brief explanation of special events and examples. Then comes
marketing key activities that are performed by Samsung and their roles to perform overall
marketing strategies. After that role of marketing mix was explained and their uses undertaken
by Samsung. Segmentation, targeting and positioning of open air screening program by Samsung
was explained in the report. At last report ended with considerations for risk management to be
taken care for attaining successful open air screening program.
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REFERENCES
Books and Journals
Burghausen, M. and Balmer, J.M., 2015. Corporate heritage identity stewardship: A corporate
marketing perspective. European Journal of Marketing. 49(1/2). pp.22-61.
De Propris, L. and Storai, D., 2019. Servitizing industrial regions. Regional Studies. 53(3).
pp.388-397.
Dumont, M. and Wolf, D., 2019. Usage of MEMS Capacitive Acceleration Sensors for Structural
Monitoring. In Dynamics of Civil Structures. Volume 2 (pp. 77-89). Springer, Cham.
Gazley, A., Sinha, A. and Rod, M., 2016. Toward a theory of marketing law
transgressions. Journal of Business Research, 69(2), pp.476-483.
Greenway, T. and Ross, J.S., 2017. US drug marketing: how does promotion correspond with
health value?. BMJ: British Medical Journal (Online). 357.
Ku, J., and et.al., 2019. “Canadian Experience” discourse and anti-racialism in a “post-racial”
society. Ethnic and Racial Studies. 42(2). pp.291-310.
Layton, R.A., 2016. There could be more to marketing than you might have thought! An invited
paper, by Professor Roger Layton. Australasian Marketing Journal (AMJ). 24(1). pp.2-7.
Muhlmeyer, M., Huang, J. and Agarwal, S., 2019. Event Triggered Social Media Chatter: A New
Modeling Framework. IEEE Transactions on Computational Social Systems. 6(2). pp.197-
207.
Sarmento, M., Simões, C. and Farhangmehr, M., 2015. Applying a relationship marketing
perspective to B2B trade fairs: The role of socialization episodes. Industrial marketing
management. 44. pp.131-141.
Séraphin, H., 2019. Marketing and Diaspora Tourism: Visual Online Learning Materials as Tools
to Attract the Haitian Diaspora ‘New Generation’. In Diaspora Networks in International
Business (pp. 493-510). Springer, Cham.
Smith, V.L. and Wilson, B.J., 2019. Humanomics: Moral sentiments and the wealth of nations
for the twenty-first century. Cambridge University Press.
Online
Marketing mix of Samsung. 2018. [Online]. Available through :
<https://www.mbaskool.com/marketing-mix/products/16860-samsung.html>.
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