The paper "Marketing Strategy of Samsung" is a perfect example of a case study on business. Samsung is a South Korean world company that started as a small trading company in 1938. It has established numerous subsidiaries and affiliates that are now united under Samsung Brand and is considered as the largest business corporation in South Korea. It's business spans into advanced technology, semiconductors, hotels, skyscraper, plant construction, petrochemical, fashion, medicine, and finance (Samsung Profile, 2013,). In 1983, the business was divided into 4 groups and had increased globalizing its activities.
In the 1990s, Samsung’ s has a worldwide market presence in electronics, mobile phones, and semiconductors that became a major source of its income. As the products and services of the company are varied and many, let us concentrate discussion on electronics. Products. Products along the line of electronics are mobile devices, TV/audio/video, camera/camcorder, monitor, peripherals and printer, and home appliances. Target market. Samsung aims for the worldwide distribution of its products. Along with this, the target market is almost anybody concerned with information (use of mobile phones), homes and families for entertainment (TV/audio/video) and comfort that it's home appliances bring. Distribution.
Samsung distributes its products through sales and service dealers, modern retail and distributorship. Modern retail is the distributorship of large companies that has a presence in the electronics retail chain. Sales and service dealers are concerned with corporate accounts and would set up their own display centers. (Marketing 91) Marketing Mix of Samsung – 4P of Samsung http: //www. marketing91.com/marketing-mix-of-samsung/Pricing strategies. Samsung uses pricing strategies that depend on the product. Samsung uses skimming pricing for its mobile products upon introduction or upon establishing its product as a leader.
Once competition catches it, the company lowers the price. In-home appliances, the company uses competitive pricing to beat competitors. Promotion The brand name Samsung is retained in all its products found in Tablets, mobile phones, TV, cameras, and camcorders, refrigerators, air conditioners, washing machines, microwave ovens, laptops, printers, and accessories. It is an established brand so that people easily recognize it. The promotion Samsung applies is the push and pull strategy. It pulls customers through advertising but simultaneously uses a push strategy by using sales promotions such as discounts to motivate dealers to sell the product.
Its advertising strategy makes use of print, television, and the internet. SummarySamsung has created its name as a trusted brand worldwide for a long time. I believe it has a well-designed marketing mix that serves its multiple products at the same. Its presence in many locations is a plus factor in making sales. Its strategy of skimming pricing is a little bit risky as the high price is a turn-off to customers. However, users are always interested in new technology, and would naturally be at the price as a status symbol, maybe.
It is a prudent strategy that when competitors come, the company switches to competitive pricing. The company should spend more on advertising as competitors are keen on gaining a big portion of its market share. Advertising activities are added the expense to the company, but its benefits are long-run