The paper "Global Marketing Plan for Samsung Mobile Phones " is a perfect example of a marketing case study. This report presents a marketing plan for a Samsung mobile phone with reference to the findings of a previously conducted situation analysis. From the situation analysis, it was established that the European and United States markets present significant opportunities that Samsung mobile can capitalise on to develop its brand equity, increase its sales and overall profitability. This report begins by highlighting the key objectives of the marketing plan. The key objectives identified include; effectively targeting and positioning different Samsung mobile phone models based on the needs and demands of the targets market in both the European and United States markets, increasing distribution channels to facilitate easy and efficient access of Samsung mobile phone products, developing brand equity and increasing the sales of Samsung mobile phones.
Secondly, this report identifies the key target markets for Samsung mobile phone in the European and United States markets as middle and high-income consumers, young people between the ages of 18 to 34 years, business professionals and brand enthusiasts.
Moreover, this report recommends that, in order for Samsung to realise positive outcomes in these target markets, the company should; effectively target its mobile phone products based on the needs and preferences of consumers in the market, employ a premium pricing strategy, broaden its distribution channels and use promotion strategies such as public relations, direct selling, advertising, sales promotion and celebrity endorsements to propel the company’ s mobile phone brand in the European and United States markets. Introduction Currently, Samsung Electronics is among the world’ s leading mobile phone manufacturers.
For instance, in 2012, Samsung realised a sale of 45million Smartphones in its first quarter, making it the world’ s most successful mobile phone brand(Livbit 2010; India Times, 2012b; Samsung 2012). One of the key factors that have propelled Samsung to become a global leader in its design-driven strategy. The company is continuously improving, reinventing and launching new brands in the market in order to meet the continuously changing needs and wants of consumers in the market (Mitchell 2011). However, in as much as Samsung mobile has witnessed significant success over the years, the mobile phone industry is increasingly becoming competitive.
The existing competition in this market poses a threat to Samsung competitive edge in the market. Competition in the mobile industry is in most cases marked by price wars and upgrade of new features and applications. Apple, Sony Erickson and Nokia are some of the key mobile phone brands that pose as a great competition to Samsung (IDG 2009). These mobile phone companies have from time to time, tried to outdo each other by upgrading the designs, applications and features and using pricing strategies that entice more buyers.
In addition to this, there is a strong saturation of mobile phone brands in the market that further threaten Samsung’ s position in the market (Quinn, 2008). It is thus evident that, in order for Samsung mobile to enhance and maintain its competitive edge in the industry, the company should employ a highly effective marketing strategy that will enable it to gain a competitive advantage over rival companies. According to the previously conducted situation and opportunity analysis of Samsung mobile phone in the European and United States market, it became apparent that these markets present significant opportunities that the company can capitalise on.
The consumer purchasing power in these markets presents an opportunity that Samsung can capitalise on to optimize its brand equity and overall sales (Viardot, 2004). The key aim of this report is to present an effective marketing plan that Samsung can use to effectively market its brand in the European and United States market. Firstly, this report will outline the marketing objectives of Samsung in these markets. Secondly, it will examine the target market for Samsung in these markets particularly in relation to demographic, behavioural and psychographic factors.
Thirdly, this report will highlight marketing strategies that the company can use to market its mobile brand with regards to different elements of the marketing mix. Furthermore, it will outline and discuss the marketing positioning that Samsung can use the different target markets. Moreover, this report will evaluate Samsung’ s strategic fit and business portfolio so as to establish whether the company can effectively cater to the identified target market in the United States and Europe.
Lastly, this report will discuss how the presented marketing plan will be implemented, controlled and evaluated.
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