Assignment on Samsung Marketing Plan.

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Samsung Marketing Strategic Planning

Executive Summary Samsung entered into Indian market with its technologically advanced home appliances. It is seen that they were better preferred among the urban customers between high and medium income group. Already Indian market is having a tough competition. They have defined there target market and have prepared a detail marketing plan to penetrate into Indian market. Goals and recommendation: Samsung aims to have a growth of market share by 10%. To have a better competitive edge by expanding its distribution channels to Tier 2 and Tier 3 cities and to launch their own retail outlets for better & direct customer reach to their products. Current Market Situation: India is a country having its major consumers in high and medium income, as the poverty level is declining the major group is turning into medium income group with some purchasing ability. Samsung India is now available with a big target market. Already in the Market major companies are available which is having a trust among the consumer with respect to the quality, durability & price. The major competitors are LG, BPL, Philips, Sony. Among these Sony having a major market share among the consumer. SWOT Analysis: Strength: Samsung is known for their innovative product and cost efficient. It provides value to the money. There major strength lies in distribution channel. Weakness: Samsung is not having its own retail showroom like Sony World. They are not able to capture the trust among the consumer compare to the other brand. At par with the Japanese manufacture Samsung is not considered as a quality driven company. Opportunity: It is seen that Indian electronics market has a long way to reach to saturation level. The market is available with potential buyers with increasing purchasing power among the citizens. Threat: Highly competitive market.

Marketing Strategy: Objective: With the launch of the new range of products Samsung should set aggressive but achievable targets for the upcoming years. The objective is to capture 10% market share in the electronics segment. An important objective will be to establish a well regarded brand name linked to a meaningful positioning. They should invest in marketing to create a memorable and distinctive brand image projecting innovation, quality and value. They should also concentrate on consumer awareness about the products through advertisements and offers. Target markets: As mentioned above Samsung target market is high and medium income level communities. Positioning: They should concentrate to have more product differentiation which would help in better positioning in the market. Strategies: Marketing strategies need to be broken down into strategies in specific areas such as product, pricing, distribution and marketing communication. Product: Since it is seen that consumer in India goes for durability with quality providing them with a long warranty periods. After sale service is should be proactive especially for the working families. Price: It is already a major strength of the company for having a competitive price. Place: They should now concentrate to reach their products to tier 2 and tier 3 cities so that maximum exposure can be attained which could lead to better sales of the product. Samsung should start their own retail showrooms like sony world. Promotion: Samsung should launch special promotional scheme to attract the consumers of their competitors. They should also fund of creative Advertisements to magnetize more consumers to buy their products.

Marketing communication Samsung should integrate all messages and media to enforce its brand name and its main points of product differentiation. The research about media consumption patterns will help advertising agencies to choose appropriate media and timing to reach prospects before and during product introduction. There after Advertisements will appear on a pulsing basis to maintain brand awareness and communicate various differentiation messages. Marketing Research Using research Samsung will identify a specific features and benefits for the Target segments back value. Feedback from market tests surveys and focus groups will help develop Samsung new products. Samsung should also measure and analyze customer attitude towards competing products and brands. Brand awareness research will help determine the effectiveness and efficiency of messages and media issued by Samsung. Finally, Samsung should use customer satisfaction studies to gauge market reaction. Controls & Feedback: Samsung should plan to control majors for closely monitoring quality and customer satisfaction. This will enable to react very quickly in correcting any problems that may occur. Other early warning signals that will be monitored for sign of deviation from the plan include monthly sales for various product and monthly expenses.