Using Marketing Research to Formulate Key Market Plan Portions Marketing Plan

Excerpt from Marketing Plan :

Marketing -- Distribution and Marketing Planning -- Samsung Galaxy Mini S

Results from the first 3 Modules now allow analysis of their information and development of some final marketing plan elements. Samsung's global position as a technological innovator, extensive distribution channels and significant resources allow an ambitious plan of near-saturation that should capture a significant portion of the target market. The 18- to 44-year-old smartphone-owning early adopters should readily encounter our marketing efforts and a significant number of those targeted consumers are expected to purchase and benefit from the Samsung Galaxy Mini S.

Issues Analysis

Given the complete marketing analysis, the key issues that must be understood by the company in trying to sell the Samsung Galaxy Mini S are:

Organizational Resources (Perner, n.d.): commonly known as the five "M's: Men (meaning labor); Money (meaning finances); Machinery (meaning equipment); Minutes (meaning time); and Materials (consisting of production factors) (Friesner, 2014). As of 2013, it employs approximately 270,000 worldwide (Epstein, 2013), has stockholders' equity of $209+Billion and net annual income of $26+Billion (Samsung, 2014), in approximately 72 nations worldwide (Epstein, 2013), regularly devotes massive sums and time to R&D, manufacture and marketing (Epstein, 2013).

ii. Competitors and their strengths (Perner, n.d.): The clearest threat to successful marketing of the Galaxy Mini S is Apple, Inc.'s iPad Mini (Apple, Inc., 2014). Apple is already a leader in mini tablets, has considerable brand recognition for tablet manufacture and sales constantly innovating to attract that "narrow market" of high-tech state-of-the-art devotees, and has proven itself to be a determined legal opponent regarding patents (Silicon Valley, n.d.).

iii. Different Customer Types (Perner, n.d.): The chosen a target market of early adopters or "innovators" (Perner, Integrated marketing communication - Introduction to Marketing, n.d.). I will choose participants who use smart phones. These participants must own a Smartphone.

iv. New Technology's Impact (Perner, n.d.): It seems the introduction of Galaxy S series will be the ultimate Samsung product to compete in the Smartphone market with its biggest rival Apple iPhone (Samsung, 2014). They capitalized on the flaws of their competitors, and made a model with a wider touch screen and the best quality resolution, faster processor and were the thinnest Smartphone available in the market. It also allows the user to incorporate an external micro SD memory and supports many multimedia formats that its competitors could not. It has an outstanding characteristic that differentiate Galaxy Mini S products from its competitors (Samsung, 2014). The product is well differentiated as it offers very innovative technology and design that suits its consumer's needs as the data analysis has confirmed on the consumer perception about Galaxy Mini S products.

v. Pricing Strategy (Perner, n.d.): While higher quality certainly entitles higher pricing, Samsung is in a healthy financial position to lower prices and/or offer a wider range of the Galaxy Mini S with variable pricing (Samsung, 2014).

vi. Distribution Channels and Logistics (Perner, n.d.): Samsung has more than 100 distribution partner companies in 72 nations worldwide (Samsung, 2014) and can easily enlist more partners if need be.

vii. Internet Marketing (Perner, n.d.): Samsung has a strong internet presence and is one of the top 10 global brands and technology industry leader (Samsung, 2014)

viii. Laws (Perner, n.d.): With a corporate, manufacturing and distribution network worldwide, Samsung is already conversant with most applicable laws (Samsung, 2014); however, it does have ongoing patent battles with competitors, chiefly Apple, Inc. (Silicon Valley, n.d.).

b. Goals and Objectives

i. Organizational Resources (Perner, n.d.):

1. Goal: To dedicate within the next 9 months sufficient labor, finances, equipment, time and production to efficiently market the Samsung Galaxy Mini S in the United States:

(a) Objective: Calculate within the next month the sufficient labor, finances, equipment, time and production to efficiently market the product;

(b) Objective: Dedicate within the next 2 months the calculated labor, finances, equipment, time and production to efficiently market the product;

(c) Objective: Evaluate…

Sources Used in Document:

References

Apple, Inc. (2014). iPad Air. Retrieved October 14, 2014 from www.apple.com Web site: https://www.apple.com/iPad-air/

Epstein, Z. (2013, October 17). How big is Samsung? Retrieved October 14, 2014 from brg.com Web site: http://bgr.com/2013/10/17/samsung-total-employees-worldwide/

Friesner, T. (2014, May 8). Marketing Audit - Marketing Teacher. Retrieved October 14, 2014 from www.marketingteacher.com Web site: http://www.marketingteacher.com/marketing-audit/

Perner, L. (n.d.). Integrated marketing communication - Introduction to Marketing. Retrieved October 14, 2014 from www.consumerpsychologist.com Web site: http://www.consumerpsychologist.com/intro_Promotion.html

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