Marketing Plan for Samsung Galaxy S6 - Case Study Example

Marketing Plan for Samsung Galaxy S6 Name: Institution: 1. Executive summary Samsung products are known globally due to the strategic marketing procedures that the company has put in place. With the increasing technological advancement in the communication industry, Samsung has developed a Samsung Galaxy S6, which is a smartphone with the state of art functionality that is desirable by the consumers. This assessment report will categorically look into the introduction of the Samsung Galaxy S6 in the market. The launch of the Samsung product is reasonable in the sense that, there are various companies competing with Samsung in the introduction of smartphones in the market (Hackley, 2010). The assessment will look at the internal and external environment as well as the aim and the goals that Samsung intend to achieve with the Samsung Galaxy S6. Further discussion is based on the marketing mix, analysis of the product situation in the market and the overall marketing strategies that are deployed to ensure a successful sale of the Samsung Galaxy S6 (Miskelly, 2013). 1. Introduction The evolution of communication has seen Motorola and Nokia phones being the key player in the market for many years. However, the increasing consumer demands for technologically advanced product has made Samsung company to produce quality products that are consumer friend in terms expectation and pricing. In less than a decade, Samsung products have gained popularity and are currently dominating a larger market share for electronic products (Miskelly, 2013). From the year 2007, Samsung had been producing smartphones that are affordable to the average consumer as compared to the earlier days when the products mainly targeted the business class. Statistics shows that Samsung Company displaced Nokia in the year 2012 by dominating about 32.3% of the market share. The Company has since stayed ahead of Nokia and is continuously gaining popularity in the global market. In Europe, the Samsung Company is the largest seller of smartphones and capture 45% of the market share as shown by the data collected by kantar World panel Com-tech. Globally, the sale of smartphones such as Samsung Galaxy S6 is increasing. For example, in the year 2012, the sale increased by 46.9, with the Samsung smartphones accounting for 39.6% of the total sale, according to data collected by Gartner research. Currently, Samsung is working towards increasing the company revenue and changing the organization culture and strategy through advanced technological innovation (Sheehan, 2011). 2. Situation analysis Situation analysis is the foundation plan for marketing the Samsung galaxy S6 smartphone. The criteria is important in examining the internal and external factors that may affect the success of the product in the market. The political and legal forces such as government policies in the target market can affect marketing the product. Therefore, marketing and introducing the product in the market will ensure total compliance with such forces, both globally and regionally. Technology in the development of android smartphones is changing daily. Therefore, the Samsung galaxy S6 is developed using the latest technology that make it the best product on the market (Hackley, 2010). Considering the competition analysis, the main competitors in the market is the apple iPhones that are presiding to capture the global market. However, customers are always keen on getting the latest smartphones such as the galaxy S6 developed by Samsung. The social forces are also some of the drivers that was considered in the development of the S6 as per the customer requirements. Customers are keen to look at the performance of the product features such as camera, speed, uniqueness, quality, and affordability, which are all considered in the release of galaxy S6. S.W.O.T analysis The analysis of Strength, Weaknesses, Opportunities and Threats is important in mapping the Samsung galaxy S6 market environment. The analysis is important in understanding the strengths that are established by Samsung Company and how it protect its product form the threats that may arise in the market and strategies to offset the weaknesses. Strength: Samsung products is gaining a strong position in the market.Therefore, introducing Samsung galaxy S6 into the market is making the company products stronger thus expanding the business portfolio. The product also has a strong and stable growth considering the consumer demand and preference for the product. Moreover, the phone is made by skillfully innovation that will meet the expectation of the customers. Finally, the product is cost effective is perfect for both types of consumer in the market (Sheehan, 2011). Weaknesses: patent infringement is an issue due to the low difference between the product and other competing products. The smartphones are described as evolutionary instead of revolutionary and have the same features that are used by many companies. There have been cases where Samsung has been questioned over infringement of Apple Inc. products in the android development with claims that Samsung is reducing the popularity of Apple in the market. The other issue is related to the low-profit margins. The demand and sales for galaxy S6 may be good but may not realize good profit margin. This has been established from the sale of other Samsung smartphones available in the market. Therefore, if the company does not maintain a strong software and operating system, the product may be disadvantaged in the market. Opportunities: The demands for the galaxy phone show that the product is liked by the market and develop an attraction to the customers. This is an opportunity that the company can utilize and produce more of the product. The smartness, quality and attractive features of the phone put in at the top of the android developed phones in the market. With the growing demand for android smartphones, Samsung can maximize the sale of Samsung galaxy S6 since the price is also fair for the customers (Keegan & Green, 2015). Threats: the main competitor of Samsung galaxy S6 come from Apple android products. The sale of iPhone is moving to capture more market that is dominated by Samsung brands. Availability of these substitute products affects the sale of the Samsung brand hence reducing sales and ability to raise the price to maximize revenues. Another threat is the continuous technological advancement and consumer expectations. This keeps the company in continuous research and development to maintain the market niche (Viardot, 2004). 3. marketing objective The marketing objective is to portray the accurate profile and true features of Samsung galaxy S6. The focus is to analyze the marketing strategy for the product and make it a preferable Samsung smartphone brand introduced in the market. 4. Overall marketing strategy Marketing mix for Samsung Galaxy S6 is important in determining how the product can become the leading smartphone brand that is produced by Samsung in the market. The must point out the strategic plans that the company can select from in ensuring the product sale is successful in the market. The preference for the galaxy S6 is determined by price, product, promotion and place where the product is being distributed (Kotler & Armstrong, 2012). The product also is to meet the consumer expectation in accordance with the current technological development. The 4P’s is the determining factor for differentiating the product with other smartphones available in the market. Careful selection of the 4P’s will make the product achieve the targeted sale in acquire consumer preference (Viardot, 2004). 5. Segmentation, Target market Segmentation and the target market will mainly focus on the demand side for Samsung galaxy S6. The broad target and segmentation is scoped for the mass market that is applicable to low-cost competitive advantage for companies that will be offering standardized products that do not meet consumer expectations (Cravens & Piercy, 2006). The choice of this market requires the company to opt for marketing mix for marketing the product. Secondly, the narrow target is the market segmentation scope. This will be applied to small Samsung branches in the developing countries that operate under small financial resources. The strategy is to target the multiple market niches globally. The strategy also targets the consumers that will be in a position of acquiring the product (Keegan & Green, 2015). 6. Positioning Samsung S6 is a well-defined smartphone that meet the demand of the consumers. Successful positioning the smartphone in the market follow the consideration made with regards to the 4P’s, product, pricing, promotion and place. Quality and pricing remain the key elements to be looked upon. Therefore, Samsung galaxy S6 is of high quality, durable, the price is fair, and the product is good for both business class and other customers. 7. Marketing mix strategy Product With the changing environmental and climatic conditions, energy is of focus for most consumers. Therefore, Samsung Company carried out adequate research to ensure the Samsung galaxy S6 is energy efficient with long talking time. The product hence meets the requirement of the customer in terms of energy, slimness, and functionality. The features are outstanding and an upgradable android version that keep the phone up with speed. The product also comes in various colors that the customers can choose from (Kotler & Armstrong, 2012). Price Price is the amount the customer will pay to acquire the Samsung galaxy S6. Price is a very significant variable in marketing as it determines the value of the product. Setting price is supposed to be strategized and made in such a way that will ensure the company maintains revenues, profitability and promotion of the product. Through the marketing research, Samsung has managed to establish a good price for the global market with consideration to the supply chain (Gilbreath, 2010). Promotion Promotions are the communication methods that the company is using to give adequate information to the customers and make then develop a positive attitude to purchasing the Samsung galaxy S6. The activity involved in promoting the smartphone is designed in such a way that ensures adequate understanding by the customers to promote the sale of the product. Promotion activities for the smartphone are mainly done through media platforms such as television, radio, and internet (Viardot, 2004). The promotion strategies are important in supporting the positioning within the various markets that the company will be supplying the brand. Promotion for Samsung galaxy S6b will be done through a print advertisement, billboards, internet social media and outdoor media. Place/Distribution This distribution channel is necessary to ensure the Samsung galaxy S6 is available to the customers in the targeted market. The product is to be in a place that is convenient to the customers and ease of access. Developing the right distribution channel is necessary for the Samsung Company to develop a relationship between them and the customers (Cravens & Piercy, 2006). The supply network is made up of many intermediaries to ensure the maximum sale of the products. In order to meet all the marketing mix, the distribution of Samsung Galaxy S6 is to engage in intensive, exclusive, selective, and franchising methodologies. For easy access, the product is to be distributed to various telecommunication service providers and the establishment of retail stores where the product will be issued (Hughes, 2011). 8. Budget Marketing Samsung galaxy S6 is considered very expensive considering the various platforms that will be used in the advertisement. Adequate amount of money will be spent in marketing with a hope that the company will regain the revenue through the massive sale of the product. Since Samsung is a company that is gaining popularity from the products being produced, the resources are available that will aid proper marketing of the smartphone (Ryan, 2014). 9. Implementation This is the process of putting into action the marketing plans task and ensuring the execution of the task is in accordance with the stated plans. The strategy for marketing the smartphone I strategically planned to ensure the success of the introduction of the galaxy S6 and for the success of the company (Hackley, 2010). The plans are independent and evolving according to the market trends and are separate from the Samsung organization. The implementation plan considers the internal marketing such as the managerial action to create awareness to the management team in understanding their roles and responsibilities in ensuring the success of the new Samsung smartphone. 10. Evaluation and control Evaluation and control of the marketing of Samsung galaxy S6 are to be determined by differentiation strategies employed. The main idea, which is to position the Samsung brand in the market, is to be different from other competing android smartphones. Continuous production of the brand will depend on the decision made by the customers satisfaction and return on investment after the sale of the product. If the product does not compete fairly in the market, the feedback will be used to make decisions on improvement (Gilbreath, 2010). 11. References Cravens, D. W., & Piercy, N. (2006). Strategic marketing. Boston (Mass.: McGraw-Hill Gilbreath, B. (2010). The next evolution of marketing: Connect with your customers by marketing with meaning. New York: McGraw-Hill. Hackley, C. E. (2010). Advertising and promotion: An integrated marketing communications approach. Los Angeles: SAGE. Hughes, B. (2011). Samsung Galaxy S for dummies. Hoboken, N.J: Wiley Pub. Keegan, W. J., & Green, M. C. (2015). Global Marketing. Harlow: Pearson Education Limited. Kotler, P., & Armstrong, G. (2012). Principles of marketing. Boston: Pearson Prentice Hall. Miskelly, M. (2013). Encyclopedia of major marketing strategies: Volume 3. Detroit : Gale/Cengage Learning Ryan, D. (2014). The best digital marketing campaigns in the world II. London ; Philadelphia ; New Delhi : Kogan Sheehan, B. (2011). Marketing management. Lausanne: AVA. Viardot, E. (2004). Successful marketing strategy for high-tech firms. Boston: Artech House. Read More