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Samsung's Marketing Strategy
Marketing management is an important component for the success and profitability of a company in its respective industry or market. Samsung, a South Korean company, has faced intense competition from Apple and other smartphone companies across the globe. Since 2014, Samsung's profit and market share have significantly declined due to intense competition from Apple and Chinese players. However, Samsung has experienced tremendous profitability and increased in the past year because of the adoption of new strategies. According to Jung -- a (2016), Samsung Electronics predicted its best quarterly results in over two years in June 2016. The company experienced increased profitability at a time when the smartphone sector or industry was characterized by declining sales. While Apple, LG Electronics, and Chinese players struggled to cope with the decreased demand for smartphones, Samsung enjoyed high margins of operating profits estimated at $7bn for the June 2016 quarter (Jung-a, 2016).
The profitability and increased market share of Samsung during this period is attributable to the development and use of a new phone strategy. The marketing strategy contributed to increased sales at a time when other competitors experienced slowing demand for the products. Samsung's phone strategy that contributed to the profitability...
One of the component of Samsung's marketing strategy is product diversification. Product diversification strategy entails adding new products to a range of existing ones or through altering or changing the existing product to enhance market share (Upadhyaya, 2015). For Samsung, this strategy entailed launching the latest flagship Galaxy S7, which is a simpler smartphone to help the firm reduce costs at a time when smartphone sales growth was declining across the globe. This was a new product that was added to Samsung's existing range of products and played a crucial role in its increased profitability since 16 million of these phones were shipped in the second quarter of 2016. The flagship Galaxy S7 that played a pivotal role in Samsung's recent profitability also incorporated some differentiating factors like a curved-edge look and convenient features like water and dust resistance, wireless charging, and longer battery life (Tanner, 2016).
The second component of Samsung's phone strategy product development, which basically entails creating new products for existing markets through examining how to meet customers' needs in an efficient manner and outperform rivals (Upadhyaya, 2015). Samsung introduced the blockbuster Galaxy S7 as a simpler product that would meet the…
Samsung Console Marketing Pricing of the SamsunG console will be based on the pricing for competitive consoles. As noted, there are three main rival companies, offering a range of different console options. Kotler and Keller (2007) point out that the price of competing products is one of the most important drivers of the price of any new product. There are a number of pricing strategies for market entry -- penetration pricing
Marketing Plan Product / Service Concept The multifunctional remote device is designed to enhance convenience of most functionalities for electrical/electronic equipments used by consumers. This product offering enables consumers to access and control different electronic devices and equipment through a single remote device. This will facilitate communication with different servers linked to the organization. The benefit of this product is that it will enhance the convergence of technology used within an organization.
Corporate Responsibility and Marketing Strategies The ethical and social responsibilities lie at the forefront of any company's public image. That image is becoming increasingly more important to uphold as external pressures become more powerful. These ethical questions and challenges have to be faced every day. The issue of ethics is wide encompassing including all aspects of business from basic hiring of employees up to advertising claims. Companies rely on honest employees
Hyundaicard's Marketing Strategy: Case Study Write a full case analysis: HyundaiCard's Marketing Strategy Hyundaicard's marketing strategy General overview of Hyundaicard Current marketing strategy assessment Financial analysis Strategic alternatives Assessment of the strategic alternatives Implementation plan Exhibits Segmentation criteria Qualitative ranking of alternatives Market share of credit card companies Preference of payment Hyundaicard financial statements This essay is a case study for Hyundaicard marketing strategy. Hyundaicard is a company situated in Korea's credit card industry. It forms the basis of the case study because of its'
Marketing Strategy The Samsung Approach -- Brand Identity / Awareness / Recall -- Essentials of a consumer brand These days, the Windows and Android operating systems are arguably the best of the pack with Android getting 80.7% customer use and the title of the best and most-used OS globally. Android OS, which can also be applied in the educational sector, is an open source OS which gives its user the freedom
Another major problem seen in this case is the issue that the majority of mangers within Samsung did not view marketing as an important key tool in the effort to fulfill the company's global strategies. However, this was slowly changed as a new marketing system was put into place within the company. Yet, this strategy took several years to fully infiltrate the minds of the managers in Samsung, who