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Marketing Plan BUS 620 Focus of the Paper Develop a marketing plan for the successful development, commercialization

and introduction of an product of our choice in the market place! "ou are re#uired to$ %&' anal ze the general (usiness situation in detail, including organizational strengths and )eaknesses, environmental opportunities and threats, industr trends, and direct and indirect competition! Based upon our situation anal sis, ou )ill %2' develop an organizational mission and forecast performance goals! Based upon our o(*ectives, ou )ill %+' create a marketing strateg ! Based upon our strateg , ou )ill %a' segment and target potential customers! Based upon our customer targets, ou )ill %(' choose an appropriate and integrated marketing mi,, including$ products and services, pricing, promotion and advertising, distri(ution and location, and other elements of the marketing program - the summar and specific recommendations for the e,ecution of the plan!

.,ecutive summar $ /he market plan given (elo) is for the introduction of the Samsung +D line of televisions %/0s' )orld)ide! /he o(*ective of this evaluation is to (ring out the effective strategies needed for the accomplishment of Samsung1s strategic plans in their home electronic (usiness! /he marketing concept focuses on the promotion of Samsung +D /0s as innovative, industr pioneering technolog )ith the (est pricing possi(le for consumers, )hile ensuring the image of market leader in the glo(al home electronics (usiness! /he possi(le results of the implementation of these strategies are an e,tension of the market size to a(out 232,423,505 households %planned' and estimated sales gro)th of &3!56 in the coming three ears %)hich )ould ield 7&0!5 (illion in profits'! /his )ould ena(le Samsung to provide satisfactor service to the customers spread )orld)ide in the +D television market! 8/here is a positive forecast for the sales of +D television sets ( 9PD Displa Search and it thro)s light on the pro*ected demand for more +D:read devices; <%<=s > ?as Sa ing,< 20&2, para! &'! >n the +D television (usiness, the compan )ith the highest market share %at least @06' )ith the tag of (eing the top position holder is considered the most successful! Brief description of company Aee B ung Bhull, a mem(er of an affluent (usiness operating famil visited the cit of Daegu and set up Samsung Sanghoe )hich sold groceries in the locales of the cit and had their o)n noodles! /his small scale trading compan functioned )ith @0 emplo ees initiall ! Samsung ventured into the electronics market )ith a )hole range of electronics (ased companies like Samsung electronics devices, Samsung Borning, Samsung electro:mechanics and Samsung semi:conductor and /elecommunication compan ! Cne of the first products to (e

rolled out ( Samsung semi:conductor and /elecommunication Bompan )as a (lack and )hite television! /he Samsung group of toda is (ased out of South Dorea and includes a collection of close to 20 companies! /he impact of the group on the econom of South Dorea is tremendous and it is also has political influence! /he group is )idespread and is engaged in functions like electronics, finance services, ship(uilding, medical service providing and infrastructure! /he total revenues of Samsung in the ear 2004 )ere 7&32!5 (illion! /he consolidated revenues of 7252 (illion and a profit of 723!6 (illion )ere reported in the fiscal ear 20&0! /he figures mentioned do not include the revenues coming from Samsung group su(sidiaries companies functioning outside South Dorea! Product description /he features in all the Samsung /0s are capa(le of converting 2D to +D #ualit ! ?ith cinematic +D screening Samsung offers the (est e,perience right in our homes at high definition or ED resolution! "ou can )atch regular television sho)s, movies, programming at the comfort of our house in +D! ?ear the light)eight Samsung active +D glasses and choose +D mode using the remote and have the (est +D /0 e,perience! 8+D gets ou the feel of (eing completel involved in the ph sical realit of the sho)1 %Murr , 20&0, para! 5'! /he option of =ctive +D /0 is no) availa(le in most of the latest Samsung1s Plasma and A.D series televisions! /here is a feature for vie)ing our favorite films and television series in full ED resolution in 2D or +D! /he products ( Samsung in the thin /0 segment include ED and +D supported variants in &+ various sizes from 5&:inch screens to 35:inch screens! /he prices start from 72@4!44 and go up to 7&0,000 for the latest 35 inch model .S 4000! &! Samsung released the series of +D /0s )ith an aim of sustaining their top position in the market in the latest technolog +D /0s! 2! /o give a sense of consumer satisfaction ( meeting the e,pectations ( introducing a high techF innovative product! +! /o have the ma*orit share in the glo(al +D /0 market )ith over @06 share!

Situation Analysis Industry Analysis/Trends Cf the +5 +D supported products from Samsung nearl 25 are capa(le of internet connectivit ! /here are su(stantial investments made ( Samsung in the >P and +D segments! /he >P for streaming +D content is alread developed and has (een implemented )orld)ide! /here is active marketing and manufacturing of +D devices and more is e,pected in the future! 8Diego Gutierrez from the Graphics and >maging Aa( at the Universit of Saragossa in Spain states that there is a huge revolution that has taken over the +D displa segment!; %Aill , 20&2'! /he #uarter & data on the glo(al +D /0 sales in the consumer segment sho)s rankings as (elo)! &! Samsung, 266 of market 2! AG, &@!66 of market +! Son , 4!@6 of market @! Sharp, 6!56 of market 5! Panasonic, 5!+6 of market 6! Cther, +2!+6 of market

?ith totall functional sales channels in over 6& countries, Samsung is still focusing on e,pansions! Statistics sho) that the average 9orth =merican famil procures a ne) television set once in seven ears and there are appro,imatel 2!2 televisions in ever household! /here )ere sales of nearl @2 million /0s annuall as of the 20&& data! /he result of the 9PD stud highlights the possi(le *ump in the sales of +D devices from 50!2 million units to 226 million units ( the ear 20&4! /he e,pected rise in the +D read /0 sales ( the compan is from &06 to 506 glo(all ( 20&4! %<=s > ?as Sa ing,< 20&2, para! 2'! /he promotional activities for +D television commenced in 20&0 )ith all the companies tr ing to reach out to the consumers in an improper manner! /he (est aspects and the innovation that )ent (ehind the +D televisions )ere shared and appreciated in man industrial meetings )ithin the same circles, (ut no effective marketing promotional campaign )as made to reach out to the masses! =s a result there )as a poor reception as reflected ( the +D television sales! =nother reason that can (e attri(uted to this )as the consumers did not have enough firsthand e,perience that )ould convince them to make the purchase of the +D televisions! /he simpl did not kno) the value of the units! >t )as not until recentl that Samsung invested in advertisements for their displa models )ith the help of independent sales agencies! /he real success lies in making the customers have an e,perience of their full developed +D displa devices! /he poor marketing promotions man consumers got the impression that the price of +D /0s )ere relativel too high compared to the (enefits and features! Hor those )ho compare the amount to (e paid for a +D /0 against that for a regular 2D /0, the )ould find that the actual difference comes to around 7200 higher! /he +D /0 also comes )ith >P/0 and 2@0 Eertz %Ez' in a ABD or A.D package! Ealf of the market share is held ( the top three (randsI the products (eing ver close in functional capa(ilities and looks )ith minor variations to get product differentiation! Cne of the ma*or differentiation factors is the selling price! Samsung group has plent of in:house manufacturing centers )hich the use for producing the components of +D televisions! /his is the reason for their /0s to (e produced at a lo) price, (eat the competition in terms of sales num(ers and higher profit margins! S?C/ =9=A"S>S S/J.9G/ES &! .,ceptional )orld)ide (rand recognition and consumer respect 2! Good effective suppl chains +! Main products are television components and accessories ?.=D9.SS.S &! Aack of a)areness among customers 2! Bost +! Disinterest in )earing +D glasses

0PPCJ/U9>/>.S &! Glo(al (rand value creation 2! Massive scope for advancements in +D /0 technolog +! >dentif ing fresh market for internet ena(led +D /0s %>P'

/EJ.=/S &! Eigh competition 2! Hree /rade

KKKKKKKKKKKKK Strengths Strength of the brand /he Samsung (rand is the leading producer, distri(utor and promoters of +D televisions in the )orld! >n all of the 6& countries )here Samsung markets its products, the (rand name is common place! /he compan thrives in the +D /0 sales mainl (ecause of their competitive edge )ith good (randing! Distribution Channels /he operations of Samsung are )orld)ide and it has managed to set up )ell defined distri(ution channels )ith the use of sales agencies! /his implies that the latest +D /0 product line is merel an addition to the pre:e,isting distri(ution chain! /here is no need for esta(lishing ne) suppl points in the chain )ith this e,isting distri(ution channels! Core products Samsung is the market leader in the chip design and manufacture along )ith numerous other minor components used in the production of +D television units! /his is their core competenc and Samsung can manage to ac#uire more control of the cost of the product and the selling price compared to their competitors! WEAKNESSES Uninformed Bonsumers

/he pro(lem for the marketing is the a(sence of a)areness and e,perience of the use of +D sets glo(all ! /his creates a little inhi(ition in the consumers to go for the +D televisions )ithout kno)ing the true (enefits and merits of the product! Price /here is a common conception that +D televisions are priced (e ond their value and are appropriate for lu,ur seeking consumers alone! =lso, there is no clear understanding a(out the product line and the e,perience of +D over 2D! OPPORTUN T ES There is good appeal for the brand worldwide. /he Samsung group as such is a massive organization and has a )ell esta(lished value, (rand recognition and good flo) of revenues! Samsung also sustains a positive purchasing po)er over its vendors and also ropes in (ig colla(orations at various touch points in the chain to the end users! /he (rand kno)ledge among the consumers allo)s for using suita(le marketing strategies in the glo(al market! /he technolog of +D /0 is at the initial phase in the market and the e,pectations of the consumers are met ( the compan ! /here is an added option of internet connectivit )ith +D /0 and it means that the entertainment can (e en*o ed an )here an time! T!REATS High co petition Samsung is pitching its products in the glo(al marketplace and is in an oligopol setup that includes five ma*or pla ers! >n the fast gro)ing markets in the )orld, there is tough competition for the market share and to ma,imize sales! /he dominance of a ne) compan can gro) and this )ould reduce the market share of the e,isting pla ers! Free Trade

Big organizations pla ing in the international arena )ould use their merits to (ecome the top leader and lead the market in the long run )ith e,isting assets! /here are other factors like the price among the competition and the gro)th of the econom !

"O#PET T ON $ RE"T /he competition that is in the market for the +D /0 products of Samsung is AG )ith a &@!66 market share and Son )ith 4!@6 of market share! /he market share of Samsung is 266 and these three companies have (et)een them 556 of the glo(al market! /he remaining half of the market share is held ( numerous small companies that are (ack)ard in terms of research and development %JLD' or are incapa(le of competing in the glo(al market to the level of the top three! /hough the threat from Son and AG are significant it cannot (e said that the are capa(le of pushing Samsung out of the market )ith their product mi,! Samsung has (een a(le to sustain their top position )ith their diverse market mi, and it could even help them gain larger chunk of the market share! "O#PET T ON N$ RE"T /echnicall there are numerous indirect competitors for Samsung! He) of these indirect competitors are cinema movies, personal computers, ta(let devices, iPods and iPhones, and rented movies! /he edge that +D /0s has in the market is that the appeal is (igger )ith the internet connectivit options, supporting entertainment materials, price and the accessi(ilit of information in the comfort of our home! = regular practice for television manufacturers is to stick )ith the same vendors and the shortage of components )ould lead to lesser utilization of production capacit and volumes! /he su(sidiar companies of Samsung produce the parts needed for the production )hich allo)s Samsung to decide on the volumes produced! #ARKET N% OB&E"T 'ES /he focus of the marketing strategies is on the three criteria! /he are &! /o esta(lish good consumer a)areness of the latest creative +D /0 product lineup from Samsung 2! /o e,tend on the reach of the (rand value and to increase the market share currentl held in the +D /0 segment +! /o retain the position of market leader #ARKET N% STRATE%( /he results of the S?C/ anal sis points to the fact that the products from the top three competitors in the +D /0 market are fairl similar in terms of the features and capa(ilities! /he aspects that differentiate them could onl (e the size of the screen and minor alterations in the services offered and the accessories! /he massive scale of operations and the economic strength of the compan call for a marketing strateg that is diverse in nature! 8/he reduction in costs could (e achieved ( )orking on the economies of scale and accomplish curve efficiencies in production and associated operational functions of the compan ; %Hinch, 20&2, para! 5'! /he compan )ould promote their +D /0s in the 6& countries )here the service is offered and is inclusive of all income levels )ith a five /0 series methodolog !

SE%#ENTAT ON AN$ TAR%ET #ARKET /he market segmentation )ill primaril (e dependent on the income level of customers and the pricing of the +D televisions! /he pricing in the 6& countries )here the Samsung products are availa(le )ould (e in the five categories! /he developed and affluent economies )ould (e provided )ith a (alanced product mi,! Hurther trend monitoring and anal sis )ould help in altering the product mi, in such markets later! /he focus of Samsung )ill (e on economic levels )ith more impetus on A.D 6+00 series, A.D 6400 series, and A.D 2000 series! NTE%RATE$ #ARKET N% # ) Product &! .S 4000 series, 35 inch, priced at 7&0,000! 2! A.D 2000 series, 65 inch, priced at 7+344!44 +! A.D 6400 series, 50 inch, priced at 72@24!44 @! A.D 60+0 series, 55 inch, priced at 72@4!44 5! A.D @050 series, +2 inch, priced at 7@&4!44 Ser!ices" Samsung )ill (e responsi(le for the technical support and part servicing as per the terms and conditions of the agreements and )arrant provided )ith the sale Pricing" /he sales regions define the prices initiall ! /he rest of the factors are demand for the product, prices of goods offered, and the ease of entr and e,it from the market )hen compared )ith competitors! Pro otions" /he o(*ective of the marketing promotions is to create good a)areness of the merits of the +D technolog versus the 2D televisions! >t also has to make the consumers inclined to)ards their products rather than indirect competitors like ta(let devices and iPod! Ad!ertising" /he campaigns )ould use mediums like television, internet, multimedia, )ord of mouth, and to provide +D ena(led products for consumers to e,perience! 8/he impact of stereoscopic +D advertising platform is more suita(le for marketing effectivel than the flat +D advertising mainl (ecause of their capacit to e,tend the footing; ;%"im, Bicchirillo, L Drum)right, 20&2, p! &&+'! Distribution" >t )ill (e through )ell esta(lished and efficient suppl chains developed for suppl ing other products such as television and electronics goods! #ocation" Samsung has licenses and sales colla(orations in 6& nations across the glo(e! /he +D /0 is availa(le in all the 6& countries!

SUGG.S/>C9S HCJ >MPA.M.9/=/>C9 CH /E. M=JD./>9G S/J=/.G" PJ.A=U9BE PJ.P=J=/>C9 &! /here )ill (e a thorough (riefing of all associated sales partners and touch points in the suppl chain a(out the marketing strateg , plans and application procedures from the first of He(ruar 20&+! 2! Aast assessment of the production volumes and efficienc of the distri(ution channels on &st of He(ruar 20&+! .nsure that the necessar num(ers of +D television units are there at the individual sales points! +! .nsure that the monitoring methodologies to keep track of the return on investment and important data are )ell structured, validated and operational ( He(ruar 22, 20&+! @! Before the &5th of March 20&+, the marketing staff must (e trained in the sales strateg and ps cholog ! 5! Jender support to all domestic and international )holesale and retail companies in the promotional activities! /E. >9/JCDUB/>C9 ?>AA B. C9 /E. &S/ CH =PJ>A 20&+! =H/.J /E. A=U9BE %/J=BD>9G =9D BC9/JCA' &! /rack and keep under check the )eekl cost considerations and efficienc ratios to (etter understand the market share and revenues from sales! >mplement the results of this research in pushing for marketing efforts )ith attention on ne) consumers! 2! Make sure all managers and sales agencies are conducting periodic training of marketing staff! BC9BAUS>C9 /he marketing plan has detailed and performed a thorough anal sis of the +D television market )orld)ide! /he S?C/ anal sis reflects the industr trends, the effect of competition and the threats, and formulation of the organizationMs mission, aided in the speculation of the performance targets, and the final marketing strateg ! /he consumer market focused on is a diverse market and involves price segmentation! /o incorporate all economies and personal

income levels the five series +D /0 s stem )as developed! /he +D >P /0 is the ne,t (ig revolution in the home entertainment (usiness of the future!

References As I Was Saying [Journal issue]. (2012, Oct 1). Multichannel News. Retrie e! fro" #tt$%&&searc#.$ro'" (inc#, J. (2012). Managerial Marketing ( e!.).. Retrie e! fro" ))).*ri!ge$ointe!" +o"e entertain"ent syste"s. (201,). -ele ision. Retrie e! fro" tt$%&&#o"e. entertain"ent.syste"" /illy, 0. (2012). 1I- !e elo$s #ologra$#ic, ,2 -3. ExtremeTech.Com. Retrie e! fro" #tt$%&&searc#.$ro'" 1urry, 1. (2010, Aug. 4, 2010). 5o I !on6t #ate ,2. Extreme Retrie e! fro" #tt$%&&searc#.$ro'" Sa"sung. (201,). 7or$orate $rofile. Retrie e! fro" #tt$%&&))).sa"" 8i", 1., 7icc#irillo, 3., 9 2ru")rig#t, 1. (2012). -#e I"$act of Stereosco$ic ,2 A! ertising. Journal of Advertising, 41(2), 11,.12:. Retrie e! fro" #tt$%&&searc#.$ro'"