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SAMSUNG MARKETING MIX
Transcript of SAMSUNG MARKETING MIX
Samsung Group is a South Korean multinational conglomerate company headquartered in Samsung Town, Seoul
Samsung was founded by Lee Byung-chul in 1938 as a trading company.
Over the next three decades the group diversified into areas including food processing, textiles, insurance, securities and retail. Samsung entered the electronics industry in the late 1960s
Samsung is present in the following product categories.
2) Mobile phones – Smart phones, normal phones,
3) Televisions – LEDs, LCDs. Plasma TV, SMART TV, HDTV etc
4) Cameras and Camcorders
6) Air conditioners
7) Washing machine
8) Microwave ovens
9) IT – Laptops, printers and accessories
The benefit of Samsung in terms of its product is that there is a trust on all Samsung products because of the way Samsung products have performed in the last few years. Problems with the products has been negligible. And with its Smart phones, Samsung has achieved a status symbol for its customers. At the same time, Samsung is known for its service and people know that Samsung gives a very fast service for any of its product
Skimming price – Samsung’s smart phones are one of the best in the market and are the market leader in terms of the features and USP’s that they provide. The recent Samsung Note 3 + Gear is another entrant in the market which is catching peoples eyes. Thus Samsung uses Skimming price for these products wherein it tries to get a high value in the start before competitors catch up
Competitive pricing – For products other than smart phones, Samsung uses competitive pricing. Televisions, air conditioners, refrigerators and other products have competition in the form of Panasonic or LG. Samsung is known to be a great brand but it is not greater than LG for home appliances. In fact LG beats Samsung where home appliances are concerned.
Samsung is present through various channels in the market. It works on the channel marketing concept wherein there are three segments. Sales and service dealers, Modern retail and Distributors. The sales and service dealers handle key accounts for Samsung and are involved in corporate sales. These dealers may also open exclusive Samsung showrooms.
The distribution network is the most interesting in the case of Samsung. In several cities, Samsung has a single distributor through whom they distribute throughout a territory
Samsung uses multiple forms of promotions. Samsung as a company believes in pulling the customer to themselves through advertising but at the same time uses strong tactics to push the product to the customer through sales promotions. Thus on one hand, Samsung uses various marketing vehicles across the year covering festive season as well as non-festive time. On the other hand, it gives many offers and discounts to its trade partners to motivate them to sell Samsung above competition
The marketing mix of Samsung is a lesson to marketers in several points. First, Business will grow if you have multiple products at once as all of these products can become revenue drivers for your company. Second, Pull strategy, though expensive, is far more beneficial in the long time.