Elevate Your Advertising Game: Introducing Billion Broadcaster Lift Advertising
Samsung 7p's marketing mix.
1. BRAND AND PRODUCT MANAGEMENT
.
TOPIC: 7P’S SEGMENTATION,TARGETING AND
POSITIONING.
(MATA GUJRI COLLEGE,FATEHGARH SAHIB)
SESSION-2020-21
Submitted to:
Dr.Jashanjeet Kaur
Submitted by:
Bhupinder singh
B.B.A Final
201637
2. INTRODUCTION ABOUT SAMSUNG.
Samsung, South Korean company that is one of the world’s largest
producers of electronic devices. Samsung specializes in the production of
a wide variety of consumer and industry electronics, including
appliances, digital media devices, semiconductors, memory chips, and
integrated systems. It has become one of the most-recognizable names in
technology and produces about a fifth of South Korea’s total exports.
Samsung was founded as a grocery trading store on March 1, 1938, by
Lee Bung-Cull . He started his business in Taegu, Korea, trading noodles
and other goods produced in and around the city and exporting them to
China and its provinces. During the 1970s the company expanded its
textile-manufacturing processes to cover the full line of production—
from raw materials all the way to the end product—to better compete in
the textile industry. New subsidiaries such as Samsung Heavy Industries,
Samsung Shipbuilding, and Samsung Precision Company (Samsung
Techwin) were established. Also, during the same period, the company
started to invest in the heavy, chemical, and petrochemical industries,
providing the company a promising growth path.
4. 7P’s of Marketing Mix.
● PRODUCT
● PRICE
● PLACE
● PROMOTION
● PEOPLE
● PROCESS
● PHYSICAL EVIDENCE
5. MARKETING MIX.
Marketing Mix of Samsung analyses the brand/company which
covers 4Ps (Product, Price, Place, Promotion) and explains the
Samsung marketing strategy. As of 2020, there are several
marketing strategies like product/service innovation, marketing
investment, customer experience etc. which have helped the brand
grow. Marketing strategy helps companies achieve business goals
& objectives, and marketing mix (7Ps) is the widely used
framework to define the strategies. This article elaborates the
product, pricing, advertising & distribution strategies used by
Samsung.
6. 1P-PRODUCT OF SAMSUNG.
The product strategy and mix in Samsung marketing strategy can
be explained as follows:
●
Samsung invests a lot in research and development to deliver the best products to its
customers. Samsung offers a wide range of products in different product categories.
The diverse offerings come under the products of Samsung marketing mix. The
products can be classified into five categories and they are:
●
Mobile devices- Smartphones like Samsung Galaxy series, Tablets, Wearable, Other
Phones, Accessories
●
Samsung Home Appliances- Refrigerators, Washing Machines, Cooking appliances,
Air conditioners, Vacuum cleaners
●
TV/AV – Samsung Television, Audio and Video, Accessories
●
Information Technology - Printer and Multi-function, Monitor
●
Memory/Storage- SSD, Portable SSD, Memory cards, USB Flash drives
7. 2P-PRICE OF SAMSUNG PRODUCT.
Below is the pricing strategy in Samsung marketing strategy:
●
Samsung is a market leader in smart phones and is a dominant player in market for
home appliances. It uses two pricing schemes which are:
●
Skimming Price –Samsung uses skimming price policy. For instance, when
Samsung launches new products with different variants of storage capacity, it prices
the product higher. But when other competitors launch a smartphone with identical
features, Samsung lowers the price and easily prevents the reduction of its market
share due to the launch of the competitor.
●
Competitive Pricing –This pricing strategy is a part of Samsung marketing strategy.
Samsung has not succeeded in becoming the leader in other product categories.
Samsung is a trustworthy brand, but in the ‘home appliances’ product-category, it
hasn’t surpassed LG yet. To prevent the flanking attacks from its competitors in the
market it’s essential for Samsung to use competitive pricing. Also, Samsung is a not
a first mover in these product categories and thus it has to defend its position in the
market. All these help in understanding the pricing strategy in the Samsung
marketing mix.
8. 3P-PLACE.
Following is the distribution strategy of Samsung:
●
Samsung sells directly to the retailers and service
dealers. And due to this strategy, only service dealers are
responsible for the corporate sales. Retailers dealing in
technology generally have to include Samsung in their
offerings, because of the brand being world-famous.
The distribution is the strength for Samsung.
●
Samsung also distributes its products using a single
distribution company in a particular location that further
distributes the products to other locations.
9. 4P-PROMOTION.
The promotional and advertising strategy in the Samsung marketing
strategy is as follows:
●
Promotion is a strong pillar in the marketing mix of the company.
Samsung believes that advertising the best form of promotion to engage
potential consumers and position the brand. Samsung promotes new
products using newspapers and digital media. To take the advantage of
the huge number of followers of celebrities, the brand has invited many
celebrities to be the brand ambassadors and promote the product. Big
placard, hoarding and posters are put up on highways.
●
Besides advertising, Samsung also uses different promotional tactics to
make customers buy the product. Samsung is mostly famous for its
product quality and user experience but Samsung is also known for being
a giant in sponsoring events. Samsung also sponsors major events.
Samsung offers heavy discounts during national festivals. This concludes
the Samsung marketing mix analysis
10. 5P-PEOPLE.
People are one of the components in the Marketing Mix of
Samsung. Samsung Key People are Lee Kuchen(Chairman) & Lee
Jae-yong (Vice-chairman). Samsung has 320671 employees. As
employees are the key asset of the company. Samsung has
increased its revenue by US$ 208.5 Billion in 2018. Samsung
subsidiaries are Samsung Electronics, Samsung Engineering,
Samsung C&T Corporation, Samsung Heavy Industries, Samsung
SDS, Samsung Life Insurance, Samsung Fire & Marine Insurance,
and Cheil Worldwide.
11. 6P-PROCESS.
The process is one of the components in the
Marketing Mix of Samsung. Samsung consists of
approximately 80 businesses. It is highly diversified
and has operations in fields including
manufacturing, consumer electronics, financial
services, shipbuilding, and medical services.
Samsung is following industries’ best practices and
processes for the manufacturing of its products.
12. 7P-PHYSICAL EVEDENCE.
Physical Evidence is one of the components in the
Marketing Mix of Samsung. The company markets its
products in different colored packaging that can be
readily found on store shelves. They are put on the
company’s special shelves, which have a different color
and design. It allows the placement of these shelves in
active retail stores for customers.
13. STP OF SAMSUNG.
●
SEGMENTATION: Samsung Electronic things have four
vital Segments: First is Partial-Insulators that contains
capacity range and position things and also methods, for
example, Central processing units. Second is Visual Displays
that is utilized to be known as ” Televisions and LEDS”
however has been re-named Display Products (Samsung,
2010). The third position is Telecommunications that is for
the most part versatile cell portable cellular telephones,
however contains additional things and administrations for
information transfers suppliers and PCs. Fourth and last is
Client E-books, This gathering has redone headings from the
Electronic Equipment to CE. (Strategic management insight,
2012).
14. ●
1)GEOGRAPHIC: Samsung items are Available around the
world, Their telephones sold in 61 unique nations making slight
variations in the dialect and applications however the physical
appearance is all inclusive.
●
2)DEMOGRAPHIC: Samsung has cellular phones for youngsters,
age of 16-29, for business class men and white collar class and high
class salary fragments( Samsung Guru which is for lower class
workers whereas arrangement like Note and Galaxy S are for
premium clients.)
●
3)PSYCHOGRAPHIC: People from Teens to mid-30’s who are
enamored with new innovation, pink models for ladies, well
informed individuals and even lower wage gatherings can stand to
purchase less costly touch screen smooth phones.
15. TARGETING.
“ MARKETERS SELECT THEIR IDEAL CUSTOMER
SEGMENT(S) TO TARGET”. ( IACOBUCCI, fourth edition)
Samsung mobiles have the going with target customers: Trendy
adolescents, Professionals, Large associations, the typical telephone
customers. Thus it follows Mass-marketing Segmentation including
a wholesome group of consumers.
●
Samsung has, obviously, run comparable publicizing in the past —
including the happy “Unicorn” smaller than expected arrangement
that highlighted an anecdotal outline studio utilizing its SAFE
innovation for Business.
●
Target is number driven as well as about gaining and holding
clients.
16. POSITIONING.
Positioning is about what and how the customer perceives the
brand to be unique and distinct as compared to the substitute
brands on specific judgment or opinion including product qualities.
●
The techniques grasped by Samsung to position itself in the Mobile
Phone business area is that it focuses more on the genuine edge
which begins from mid-to-top end sections of consumers. It has
created Market and category in small towns as well. Samsung
gives a Wider Care Network and simple Access to Samsung care
line. It is a Pioneer in the 3G segment of cell telephones and in this
way has Branded itself as an identical word for quality.
●
Samsung has Created a Unique Brand Image for itself as a top
notch regard driven brand.
