Samsung Marketing Essentials: A Comprehensive Report

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Marketing Essentials
Samsung

Table of Contents
INTRODUCTION...........................................................................................................................................2
PART1..........................................................................................................................................................3
LO1 ROLE OF MARKETING AND ITS INTERRELATION WITH OTHER FUNCTIONAL UNITS.............................3
P1 KEY ROLES AND RESPONSIBILITIES OF MARKETING FUNCTION..........................................................3
P2 KEY ROLES AND RESPONSIBILITIES OF THE MARKETING RELATE TO THE WIDER ORGANISATIONAL
CONTEXT..................................................................................................................................................5
M1 ANALYZE THE ROLES AND RESPONSIBILITIES OF MARKETING WITH MARKETING ENVIRONMENT...7
M2 SIGNIFICANCE OF INTERRELATIONSHIPS BETWEEN MARKETING AND OTHER FUNCTIONAL UNITS
OF SAMSUNG..........................................................................................................................................9
LO2 COMPARE THE WAYS IN WHICH DIFFERENT ORGANIZATIONS APPLY THE MARKETING MIX TO THE
MARKETING PLANNING PROCESS TO ACHIEVE BUSINESS OBJECTIVES.................................................11
M3 EVALUATE DIFFERENT TACTICS APPLIED BY SAMSUNG TO ACHIEVE BUSINESS OBJECTIVES..........16
LO3 DEVELOP AND EVALUATE A BASIC MARKETING PLAN........................................................................17
P4 PRODUCE AND EVALUATE A BASIC MARKETING PLAN FOR SAMSUNG............................................17
CONCLUSION.............................................................................................................................................20
REFERENCES..............................................................................................................................................21
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INTRODUCTION
This assignment is based on the marketing essentials of Samsung Company in which the roles of
marketing and its interrelationship with other functional units will be discussed (Blythe and
Martin, 2019). In order to achieve the business objectives, the elements of the marketing mix
will be discussed that will include all the 7P’s i.e. Product, Price, Promotion, Place, People,
Physical and Process. Apart from this, the basic marketing plan will be discussed and evaluated
that will include the structure and development of marketing plans. The importance and value
of marketing plans, the links among marketing plans, objectives and strategies and their
evaluation and monitoring will be done with the help of control and evaluation techniques. The
evaluation techniques will include the sales analysis, efficiency-ratios, market-share analysis
and cost-profitability analysis. The factors which are affecting the business will also be assessed
in it.
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PART1
LO1 ROLE OF MARKETING AND ITS INTERRELATION WITH OTHER FUNCTIONAL UNITS
P1 KEY ROLES AND RESPONSIBILITIES OF MARKETING FUNCTION
Marketing- Marketing is an activity of selling the goods and services to end users or consumers.
Marketing involves multiple activities like identification of customer’s need and preferences,
plan the activities, developing new product branding, pricing, packaging, labelling, warehousing,
promotion, distribution and transportation of goods & after-sales services. The roles of
marketing also involve the marketing mix so that a large number of goods can be produced and
sell. Marketing activity also ensures about the satisfaction level of customers (Boyd and Koles,
2019).
ROLES AND RESPONSIBILITIES OF MARKETING FUNCTIONS OF SAMSUNG COMPANY
Marketing Research- This is one of the basic roles of managers to conduct research in the
market in order to analyze the customer's needs and demands, target market size, competitors'
products and so on. Marketing research helps the organization to find out new opportunities
for business as well as customers by understanding the market dynamics in depth.
Development of Product- another role of managers of Samsung Company is to develop the
product with proper planning and implementation of organizational activities. The product of
Samsung could be developed by procuring raw materials and process it to get the new product
by adding value for customer satisfaction.
Promotion- the promotion of a product is very important for any business for success. The
managers of Samsung Company are required to promote the new product in the market in
order to increase customer awareness towards the product. There are various sources by which
the Samsung Company can promote the product. They can advertise it by newspaper,
Televisions, magazines and so on. They can also promote their product on social sites such as
Facebook, Instagram and so on.
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Creating a Website- The managers of Samsung Company can create their own website. In the
era of the internet, things have become more easy and flexible for every individual. Samsung
Company can upload their product details and company's information on the website and with
the help of only one click, the world will be able to check the product and company's detail.
Brand Management- brand management is quite a crucial part for managers. They are
responsible for managing the brand of the company. This can be done by defining the visions,
missions and goals of the organization to customers as well as employees. This will set the
satisfaction level in there and ultimately will help to achieve the company's objectives (Mishra
and Modi, 2016).
Marketing Strategy- the managers play a very important role in terms of implementing and
formulation new strategies in business in order to achieve the organizational goals and to
increase the market shares. Managers are also responsible for communicating about the
strategies with employees so that they can work accordingly and the goals could be achieved.
Sales and Distribution- The main another role and the aim of the managers of the company are
to increase the sales with the help of distribution channels in order to maintain the profitability
of the company. Distribution channels include the retailers, wholesalers and agents.
After sales services- the ultimate aim of the Samsung Company is to know about the
satisfaction level of the customers that can be done by managers by providing the after sales
services to its customers. This will help to know and enhance their satisfaction level towards the
company and its product.
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P2 KEY ROLES AND RESPONSIBILITIES OF THE MARKETING RELATE TO THE WIDER
ORGANISATIONAL CONTEXT
The functional units of the marketing department in Samsung Company are interrelated with
each other. The functional units involve the HR, sales, finance, R&D and customer care
department. The marketing managers are required to coordinate and communicate with every
functional departmental manager in terms of achieving the production efficiencies (Hair et al.,
2015). The relationship between functional units have been described in brief below-
Marketing with HR department- First of all, marketing managers of Samsung company are
needed to analyze the estimated workforce in order to conduct the marketing and selling of
product. The HR department is the one that hires the potential and skilled candidates who can
fill the vacant position of the company and marketing managers can get the information about
the estimated workforce by communication with the HR department.
Marketing with Finance department- The marketing managers are required to communicate
with the finance department in order to know the budget of the company so that marketing
activities could be conducted accordingly. The marketing managers of Samsung Company
conduct the market researches, procurement of raw materials, production process, developing
the product and promote the same in targeted markets. Overall, the marketing managers are
required to communicate with the finance department in order to maintain the budget of all
activities.
Marketing with R&D department- the main motive of the research and development team is to
identify the customer’s needs and preferences by market survey. This will be communicated to
the R&D managers and R&D managers are required to discuss the same with marketing
managers so that necessary changes could be done as per the customer’s demand.
Marketing with Production department- The marketing team is also required to communicate
with the production department after collecting the information about customer’s preferences
and needs. According to the collected information, the marketing managers are required to
plan for new developing product and the plan should be discussed with the production team so
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that team can understand the needs and preferences of the customers and the production
could be done accordingly (Feng et al., 2015). Well, the production managers of Samsung
Company maintain a good relationship with marketing managers in order to conduct their
production process.
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M1 ANALYZE THE ROLES AND RESPONSIBILITIES OF MARKETING WITH MARKETING
ENVIRONMENT
The marketing managers’ role and responsibilities play a vital role in an organization and PESTLE
analysis will be the best to analyze the roles & responsibilities of marketing in Samsung
Company.
Political factors- The Samsung Company has impacted badly because of South Korea scandal
but the best part of the political environment is that it that government provide access to enter
in a wider geographic region. The government has made free trade policies because of the
companies are getting the authority to outreach on several markets. The Samsung Company
was facing the financial crisis due to the scandal in South Korea although the government
policies are helpful for managers to recover it effectively.
Economic factors- Economic factors directly influence the pricing strategies of the company and
hence the marketing managers of the Samsung Company are required to be more attentive
towards economic factors. Economic factors involve the price of a product, price of a
competitor, discount and offers on products. The Samsung Company needs to make effective
pricing strategies in order to deal with the competitive market and to manage the financial
activities of the organization for gaining more profit (Khan et al., 2015). It is also required to
ensure that the level of customer satisfaction must be high.
Social factors- The marketing managers of Samsung company is needed to be attentive towards
a society more in order to know what customers are expecting from the company. The
customers' needs and preferences get change over time and hence they are responsible collect
the information about their interest so that the production of product could be done
accordingly.
Technological factors- Technological factors influence the company in a wide range. As
technology is developing the usage of internet is rapidly increasing and hence the marketing
managers can avail the benefits of technology in a very effective manner. They can promote
their product online and can get the maximum response from the internet itself.
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Environmental factors- Environmental factors also affect the decision-making process of
marketing managers. The managers of Samsung Company are responsible to take care of the
waste materials also. They must clean the wastage after production or during production. The
recycling of waste materials could be used in the production of a product that will help in
reducing the unnecessary expenses and society will also please it and ultimately it will give the
positive impact to the company.
Legal factors- the managers of Samsung Company are responsible to take care of the
customers’ values and ethics and hence there are certain laws and legislation made by the
government must be followed by managers of the company in order to maintain the
transparency with customers and to provide the quality product as per their needs and
preferences (Gardere et al., 2018).
The managers of Samsung Company can make effective and creative strategies after PESTLE
analysis that will help to increase the productivity, customer satisfaction and ultimately
profitability of the company.
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M2 SIGNIFICANCE OF INTERRELATIONSHIPS BETWEEN MARKETING AND OTHER FUNCTIONAL
UNITS OF SAMSUNG
The marketing managers are responsible for advertisement, financing and distributing the
product with the help of distribution channels although these are the marketing process. Apart
from this, the marketing department plays a crucial role in terms of performing the various
activities with other functional units that are described below-
Customer Satisfaction- The marketing managers can understand the customer’s level of
satisfaction by communication with R&D department’s managers they will help to make
marketing managers aware about the changes in needs and preferences of the customers. This
will help to make a plan for the production of the product and that will satisfy the customers as
well.
Production efficiency- The marketing managers can communicate with the production
department in order to make the production process effective that will help to increase the
production efficiency of the company.
Strong Marketing team- In order to build the strong marketing team of the company, the
marketing managers are required to communicate with the HR department that will help the
HRs to hire the candidates as per the required skills and abilities of the vacant position in the
company (Wang and Miao, 2015).
Funds availability- The marketing is not possible without funds. For the availability of fund and
effective management of the budget, the marketing managers can communicate with the
finance department. They can help marketing managers to keep them informed about the
financial condition of the company as well as the amount to be utilized for marketing of the
product.
Overall, the marketing managers are connected with other functional units that help them to
collect the information about the departmental condition and the product, after collecting the
information they are enough capable to make effective and efficient plans and strategies for the
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company for achieving the business objectives.
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LO2 COMPARE THE WAYS IN WHICH DIFFERENT ORGANIZATIONS APPLY THE MARKETING MIX
TO THE MARKETING PLANNING PROCESS TO ACHIEVE BUSINESS OBJECTIVES
Marketing Mix
Marketing mix refers to the controllable factors of an organization that can easily convince the
customers to buy their products. Marketing mix involves 7Ps in it i.e. Product, place, price,
promotion, process, people & physical evidence. These factors are under controlled that helps
the company to attain the business objectives.
Figure 1: Marketing Mix
Source: Dewi and Suryawardani, 2019
Product- The Samsung Company is a well-known company in the global market where it doesn't
only sells Mobile phones but also home appliances and other products. This is a well-known
brand and produces the products as per the customer's needs and preference. They are also
focused on the features that it must be easy to use for all kind of people in the market. The
Samsung Company has a wide range of varieties of products that have divided into 3 different
categories.
Division of products Categories of products
IT & Mobile Communications  The business of Digital appliances
 The business of Visual display
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