Marketing Research Application in Samsung Product Development

This report examines Samsung's application of marketing research in its product development processes. It delves into the company's methodology, exploring how market research contributes to the success of its products in the competitive technology market. The report covers the problem statement, research objectives, and questions, along with a justification of the proposal and expected research outcomes. It outlines the conceptual framework, including product development, the product development process, high-tech marketing research tools, and the stages of marketing research. The methodology section details the research purpose, approach, strategy, and data collection methods, emphasizing ethical considerations and data analysis. The study's organization, including a GANTT chart and resource budget, is also presented. The report aims to identify the critical role of marketing research in Samsung's product creation, providing insights for other high-tech companies and academic research.

RUNNING HEAD: SAMSUNG’S COMPANY APPLICATION OF MARKETING
RESEARCHER IN PRODUCT DEVELOPMENT
1
Samsung’s Company application of Marketing Researcher in Product Development
Name:
Academic Affiliation:
Date:

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Table of Contents
SECTION 1.....................................................................................................................................3
INTRODUCTION.......................................................................................................................3
PROBLEM STATEMENT..........................................................................................................4
RESEARCH OBJECTIVE AND RESEARCH QUESTIONS....................................................4
JUSTIFICATION OF THE PROPASAL....................................................................................5
EXPECTED RESERCH OUTCOME.........................................................................................6
SECTION II.....................................................................................................................................6
CONCEPTULA FRAMEWORK................................................................................................6
PRODUCT DEVELOPMENT.................................................................................................7
PRODUCT DEVELOPMENT PROCESS..............................................................................7
STEPS OF THE PRODUCT CREATION PROCEDURE......................................................8
HIGH-TECH MARKETING RESEARCH TOOLS...............................................................8
MARKETING RESEARCH....................................................................................................9
MARKETING RESEARCH STAGES..................................................................................10
CONTINGENCY THEORY OF HIGH-TECHNOLOGY MARKETING...........................11
MARKETING AND SUCCESS FACTORS IN PRODUCT DEVELOPMENT..................12
METHODOLOGY.....................................................................................................................13

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RESEARCH PURPOSE.........................................................................................................13
RESEARCH APPROACH.....................................................................................................14
RESEARCH STRATEGY.....................................................................................................14
POPULATION, SAMPLE SIZE DETERMINATION AND SAMPLE SELECTION........15
DATA COLLECTION METHOD.........................................................................................16
DATA COLLECTION PROCEDURE..................................................................................17
RELIABILITY AND VALIDITY.........................................................................................17
DATA ANALYSIS................................................................................................................18
ETHICAL CONSIDERATIONS...........................................................................................18
SECTION III.................................................................................................................................19
ORGANIZATION OF THE STUDY........................................................................................19
GNAT CHART......................................................................................................................20
APPENDICES 2 RESOURCES COST/BUDGET................................................................20
REFERENCES.......................................................................................................................21

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SECTION 1
INTRODUCTION
Organizations operate with the aim of satisfying customers and making profit through
the provision of good quality products and services. The current business environment is
experiencing stiff competition, thus resulting in changes in the consumer's behaviors such as
consumption and purchase decisions. Consequently, organizations need to develop new products
to ensure a continuous stay in the market (Glogowska, Young & Lockyer, 2011). Product
development concept has been used as a tool to increase organizations performance of numerous
organizations over the past decades, and this is significant in the current technological world.
Product refers to something offered to customers in order to satisfy the needs and in covers both
tangible and intangible. Product development strategy allows companies to attract new
customers, retain existing clients, strengthen ties with distribution networks, increase their
market command and grow internally thus leading to a better competitive advantage
(Cankurtaran, Langerak & Griffin, 2013). The economic success and ability of forms thus
majorly depend on the capability of the firm to identify the customer’ needs and quickly and
appropriately respond to fulfill those needs rather than achieving the marketing problem. The
current paper thus aims at exploring the Samsung market research process that has enabled it to
achieve as a successful product developer in the competitive technological market. The paper
thus will specifically focus on identifying the methodology adopted by the company in
developing its products that leads to its success over the past years.

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PROBLEM STATEMENT
Over the past years, new products have tremendously increased leading to intense
competition from both existing and emerging companies and markets. Marketing research has
been one of the key factors that ensure the success of products into the markets. A large number
of products tend to fail in the market due to poor management performance since most
companies fail to get it right in the development process leading to substandard or to the
expensive product in the market. Research shows that about 80% of all product-related cost is
always determined during the development phase. Product development management has been
accused of possessing its relevance for innovations initiatives because it over-emphasis planning
and controls flexibility resulting to poorly adapted to high uncertainty endeavors. Samsung has
been one of the prominent innovative enterprises in the universe, with numerous successful
products that are both complex and considerably expensive, thus needs to develop other products
that can be easily afforded by the low class customers to ensure continuous global market
command.
RESEARCH OBJECTIVE AND RESEARCH QUESTIONS
Product development is always implemented as continuous technological-scientific
efforts that need to systematically manage to achieve the perceived project facts such as quality
cost and product attributes. Therefore, in order to achieve the eligible product with the perceived
attributes that suit customer needs, marketing research and information gathering are essential
apart from the technological process. Consequently, there are different marketing research
serving different purposes and the best method of doing market research is to enhance decision
making in product development. On the other hand, regarding Samsung objectives to satisfy

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customers with the provision of high-tech devices, a different marketing strategy needs to be
used to enhance product development.
Generally, the whole paper objectives are:
a) To familiar the Samsung product development process,
b) To identify the phases of the decision-making procedure essential in the product creation
marketing research,
c) To identify the market research essential for Samsung product development.
The main question of the current paper is: How does marketing research be essential in
the product creation of the Samsung Company? Thus to explore this, the researcher will strive to
answer the following sub questions:
a) What stages are there in the product creation in Samsung Company?
b) In what decision-making and objectives of marketing research during the Samsung
product development course
c) What kind of objectives of marketing investigation throughout the Samsung product
development course.
JUSTIFICATION OF THE PROPASAL
Both Product development and market research have been a useful concept for the
growth of numerous organizations across the world. High tech companies such as Apple, Toyota,
and Samsung among others have realized the importance of market research in product
development. It is imperative for the organizations to educate the market about the product in
order to penetrate a potential market, and failure to do have led to the failure of numerous

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organizations. Studies indicate that about 80% of new products tend to fail due to numerous
reasons, thus the current proposal will explore through the literature review and interview's
feedback from the Samsung's top management in regard on their product development and
market research. The feedback thus will help other organizations to apply the technique to
succeed in the competing business world.
EXPECTED RESERCH OUTCOME
The outcomes of the current study will provide Samsung's product development market
research. The study will explore various market research and product development commonly
used by organizations with regard to the study’s research questions and objectives. The study
will use the interview to collect data from Samsungs' top management and the data will be
analysed through various social analysis methods, and the data will be used for academic work as
well as other high-tech companies that want to be successful in the competitive world.
SECTION II
CONCEPTULA FRAMEWORK
Samsung was funded by Lee-Byung-Chull in 1930s as a small export firm in Korea with
a name as Samsun Sanhoe. Later in the 1960, the company joined the electronic industry and
since then has become the biggest pioneer in digital era especially in 200-2010, with
diversification into other sectors such as biotech, information and environmental energy.
PRODUCT DEVELOPMENT
New product creation has been one of the aspects that enhances the development of
companies as well as determines the innovativeness of the organizations. New products tend to

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reduce the utility of old products thus guarantees the survival of most of the companies
(Kandemir & Acur, 2012). However, it is always challenging to understand the customer needs
and balance the needs along with the company's strategy and capabilities to manufacture the
desired product and services.
PRODUCT DEVELOPMENT PROCESS
Product development process refers to a framework that helps companies to efficiently and
effectively develop new products through following a series of steps from the idea generation to
introduction of the product into the desired markets as well as successful acceptance by the
potential customers. Colicev, Kumar and O'Connor, (2019) identifies different types of product
creation process however, the most common process is the Stage-gate process. Stage-gate
process that aims at driving new products projects from the idea to the launch. The process has
been used by numerous companies and cares about 60% usability by companies due to numerous
benefits associated with it. Some of the benefits are (Shuichi Fukuda, 2016):
a) Places discipline into a somewhat ad-hoc, chaotic process
b) Offers enhanced focus through gates where the poor project is killed and effect can be
redirected to more promising projects and products
c) Creates customers voice into the product
d) The process is easy to understand and implement
e) The process tends to break down the business resource commitment increments or stages
and money spend up-front great enhances the odds of success.

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Figure 1: Shows product development process, obtained from Colicev, Kumar and O'Connor,
(2019).
STEPS OF THE PRODUCT CREATION PROCEDURE
Product development commences from an idea and stops with a successful launch of the
product into the market and steps in the process are perceived as the dynamic process Colicev,
Kumar and O'Connor, (2019). Each stage entails different task and activities and includes the
following steps: client’s requirements recognition, product ideation, product scheme, product
creation and product engineering.
Figure 2: Shows stages of product development, obtained from Colicev, Kumar and O'Connor,
(2019)
HIGH-TECH MARKETING RESEARCH TOOLS
The high-tech marketing investigation environs is branded by change and uncertainty
since numerous customers have difficulty in perceiving how technology can meet their needs, as
well as some, is unable to be aware of their needs Moreover, in the high-tech environment,

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organizations need to accelerate the product development course to reduce the interphase
between the ideas to market introduction. A successful firm such as Samsung thus achieves this
through by gathering information to enhance an effective decision-making process.
MARKETING RESEARCH
Marketing research refers to the orderly design, data gathering, data breakdown and
informing of the information as well as findings to precise advertising condition confronting an
organization. Marketing research is a daily activity in numerous companies since it is essential in
the decision making and requirements of the organizations (Aitamurto, Holland & Hussain,
2015). Additionally, every organization’s mission is to identify new product and have the
capacity to manage the process of creating the product to satisfy the needs of perceived
customers (Frankort, 2016). On the other market research is one of the main influencers
supporting product creation, thus the literature review of the current paper focuses on various
marketing activities and decision-making points that used by Samsung company and any other
high-tech company. Numerous scholars have identified that the success or failure of products is
directly associated with the degree of market research. There are numerous benefits associated
with efficient marketing research, such as (Lajevardi, 2016):
a) Enhance the firm's capability to stay in touch with the potential; customer’s changing
purchase behaviours
b) Helps companies to understand the available market opportunities that can be essential in
the company's growth
c) Helps the company to determine the feasibility of potential marketing strategy

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d) Helps the company to develop a marketing mix that helps to match the product with the
potential customer’s needs
MARKETING RESEARCH STAGES
The marketing research process has set standardizes phases that aim at answering different
questions such as: why should we do research? What type of research should be carried? What's
the worth of doing the market research? And what’s the purpose of the research? (Oduoza &
Harris, 2011). By answering the questions, the following stages are identified in the market
research process:
a) problem identification
b) research project designing process
c) data collection
d) interaction of research findings
e) reporting of the findings

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Figure 3: Shows market research stages, obtained from, ( Liu & Shi, 2015).
CONTINGENCY THEORY OF HIGH-TECHNOLOGY MARKETING
Contingency theory of high technology marketing engages incremental innovations and
product development in the alignment of the current market attributes (Tangpong, Hung & Li,
2018). During the product development, customer needs are always the key aspects to be
considered and the traditional marketing study is instrumental in assisting companies in
exploring such needs. McNally, Akdeniz & Calantone, (2011) perceives traditional marketing
research tools are the most significant in understanding customer needs and wants, or when a
customer fully understands the possible solution to the problems. However, Raassens, Wuyts,
and Geyskens, (2012) are of different opinion, they argue that standardized research techniques