Marketing Plan

SAMSUNG ELECTRONICS MOBILE DEVICES

Contents

Executive Summary

Company Profile

Market Segmentation & Targeting

Situation and Company Analysis

Ethics and Social Responsibility

Marketing Information and Research

Customer Decision-Making Profile

Positioning and Differentiation

Branding

Marketing Mix (4Ps)

Product Strategy

Pricing Strategy

Place: Distribution Strategy

Promotion: Integrated Marketing Communications Strategy

Budget

Action Plan

Risk Factors

Attributions

Executive Summary

Samsung a well-known quality brand in the electronics industry that is focused on innovation for global societal improvement through technological products. Devoting their talents and technology to creating superior products and services that contribute to a better global economy.

Company Description 

Samsung is a electronic company that sells consumer electronics, information technology and mobile communications, and device solutions business globally.

Target Segment

The target market would be those who are capable in operating mobile devices ranging from early teenagers to late adults, which consist of students, professionals, businesses, or the average mobile user.

Competitive Advantage

Samsung is constantly and always searching and testing products for the needs and demands of their customers, ahead of their rivals. Their Engineers try to develop innovative products to reach these needs and demands while working towards new technologies to lead the future market.

Samsung’s commitment to producing environmentally friendly products and to decrease greenhouse gas emissions, which is recognized worldwide. They also combine strategies of both their American and Japanese companies and as a result Samsung is diverse with a large product range and specialized in manufacturing as well.

Positioning Statement

“Our promise to perform responsibly as a leading, global company.”

Marketing Plan Objectives

Samsung marketing strategy will continue targeting and leveraging the ability of rare marketing campaigns to promote their products/services and attracting people, offering new values and standards, while delivering the best quality products. With technology inspiring the future and the world, Samsung is dedicated lead innovations in technology, solution, and product/services that stimulate communities and people all world.

Company Profile

Market Segmentation & Targeting

The majority of the primary smartphone market in the U.S., are adults averaging between the ages 18-54. Samsung’s potential customers ranges from 15 to 45. 

Those targeting customers are:

● Tech savvy

● Heavily engaged in the digital world/media outlets

● Trendy (Follows the latest trends)

● Professionals

● Large businesses, organizations (such as government),schools

● Normal, regular individual mobile phone users

Samsung’s current Segmentation strategy is best represent by Behavioral and Psychographic segmentation. Samsung targets a broad range of customers from different ages, social status, and lifestyles, having something for everyone down to their cheaper models to the high-end price tag. (Galaxy, Note)

• Geographic: Region and Density in urban and rural areas, worldwide in 80 countries. Samsung being one of the largest manufacturers of mobile devices leading the way globally.

• Demographic: Males and Females around ages 15-45, people from lower-middle-upper class, to teenagers, couples, and families.

• Situational Characteristics: Samsung figuring out through research: customer loyalty, and prices willing to be paid for services/products

Situation and Company Analysis 

Economic Environment

With Samsung opening various markets worldwide it will widen their global footprints while worries of purchasing power of consumers will create a growing global economic crisis. This allows Samsung the ability to pursue and expand profitable projects in emerging markets. They make comprehensive global efforts in attacking climate changes.

Samsung also has to make sure that wages or conditions aren’t compromised. Crisis’s like inflation, interest rate hikes, recession, the pandemic, and the continue fight with Russia and Ukraine resulting in a decline in profits and customers spending less, first year-on tumble of 25% in three years.

Technical Environment

Samsung is known to be amongst the world’s top leading innovative companies. Dominating their biggest rivals and competitors by leading the way with the first to produce the latest technologies and innovative products to reach the market.

With the smartphone market growing at a rapid pace, new technologies, hardware, software, and innovative designs are need to be introduced. Samsung does this by acquiring patents through acquisitions, expanding their market shares, improvements in hardware such as screens and faster processors, and software features that furthers user experience. 

Industry Environment

The trend right now are consumers are increasingly choosing experiences and features over other things. The focus then is on innovatins in software and services that could complement their expertise in hardware and consumer electronics.

Competitive Environment

Samsung distinguish themselves from the rest by providing their customers with great quality, high-tech electronic products with their focus on brand and differentiation competitive advantages. Samsung’s key competitors are Apple, LG Electronics, amongst others like Sony, Mitsubishi Electronics, Dell, etc.

Apple will always be one of Samsung’s biggest competitors defining the global mobile market. Apple focuses on the most sophisticated mobile device market while outsourcing components and products allows them to receive higher profitable margins without control. The majority of Samsung components and products are created by them and they also are apart of outsourcing parts as well, while targeting new users for additional developments.

Although, LG is the largest group second to Samsung in South Korea, it is the fifth largest mobile manufacture. Even though it is committed to developing new technologies and challenges it’s ability is proof that they are unable to create a competitive product to the market that can compete with Apple’s iOS and Samsung Google Android mobile platforms.

Political Environment

For Samsung, the political environment is helpful to it’s operations, in most of the markets they operate in. And in other markets, where there’s unstable political environment stability and constant changes in the government system, is where Samsung faces a lot of pressure, mainly in African and Latin American countries.

As a result, Samsung factors in the political instability that it may face into their strategic planning and calculations, this issue is not a notable cause of worry. Having the ability to combatively protect their products and services.

SWOT Analysis

Internal

HELPFUL Ideas

Strengths

● Research and Development.

● Samsung is one of the largest company and has a top position dominating the smartphone market worldwide with an award             winning brand image and valuation.

● Samsung manufactures the latest hardware, software, and smartphones to hold up against the competition.

● Samsung has a stronghold in emerging economies, such as china and India.

● Samsung is making a position in the global market with their presence.(14 regional HQ’s & 228+ subsidiaries worldwide.

● Eco-friendly innovations and high quality products.

● Various Portfolio:

Consumer Electronics=20%, Data Tech & Mobile Communications =39%, Device Solutions=45%, & Harman=4%, Intercompany elimination=-7%.

Harmful Concerns

Weaknesses

• Product Failures.

• High dependence on low-end Smartphones and the American market.

• Decline in Smartphone Sales & Profits, as a result of for example: higher prices than their competitors on their                     products/services.

• Samsung product designs are less appealing than their competitors.

External

Opportunities

Strengths

● Samsung entries in other markets and countries in the regions of Asia, Africa, and America and advancing in other countries for additional sales and profits.

● Triple Protection Proposition (ensuring max customer detainment).

● HR Management: (investing in qualified & skilled employees improves productivity, performance, & sales)

● Offering Innovative Products & Technology to obtain more growth. For example: 5G, 6G

● Next-Gen Smartphone Gaming (next level mobile processors).

Threats

Weaknesses

● Patent Infringements or Court Cases

● Growing Competition: such as, Apple, Xiaomi, etc..

● Legal & Regulating Guidelines/Laws from Government Authorities.

● Economic Doubt/Disasters.

● Increasing of Counterfeiting (knock off products).

● Discontented Phone Users.

● Rival Technology Products.

Mission, Objectives & Goals

Samsung’s purpose is ‘to devote it’s talent and technology to creating superior products and services that contribute to a better global society. To accomplish this, Samsung sets great core values in their technology and people. Creating the best products and services while supporting, developing people to be their best, and customer satisfaction.

Samsung aims to conclude net zero carbon emissions across it’s mobile devices and consumer electronics by 2030 and global operations by 2050.

Samsung goal is to increase teamwork effects of the company’s management system through technologies and human resources. 

Obtaining the 1st position worldwide.

Ethics and Social Responsibility

Current Status

Samsung Electronics know that their success or thriving is only possible if everyone is thriving together, the company as a whole, communities, and their partners. Present and future dedication, Samsung commits in uplifting their employees and communities. They aim to be the leading company pledging their technology and hiring personnel to produce excellent services and products while doing their part in improving the global communities.

Samsung has created a Global Code of Conduct and Global CSR vision which is "Together for Tomorrow!” Samsung Electronics global code of conduct is the standards for all business activities that applies to any and everyone employed by their subsidiaries domestically or abroad. Samsung complies with laws and ethical standards, they protect and care for a clean organizational culture and environment, respecting and improving customers, shareholders, employees, and the values of local communities, relationships, and their charitable work.

Recommendations

Samsung can make a better conscious effort in reducing or eliminating unnecessary packaging, resources in manufacturing, efficient distribution and end-of-life recycling. Making an on going efforts in research and developing technology in finding innovative ways in reducing energy with great performance. 

Marketing Information and Research

Research Question

Samsung can  make efforts in convincing potential and their regular customers that they are much better than their competitors by providing technology easy to operate and treating thier customers  like investments.  Setting up a prospecting system , sales funnel, and adaptability is vital.

Information Needed

Samsung implements the "decision by authority after group decision",  which means a leader calls for a meeting, listerns to ideas and issues bought to the table, and then deliberates.

Research Recommendations

Samsung would need primary and secondary data, interviews, surveys, studies, and blind focus groups so they can gather unbiased information to compare against each other. Allowing these blind focus groups can gather customers preferences and Samsung can be educated with the opinions and feedback needed to improve of shift.

Customer Decision-Making Profile

Identifying the Customer and Problem

The primary decision makers in Samsung mobile devices are male and females ranging from 15-45 years old, who are either students, teenagers, tech savvy or professional individuals, or those who are working and active that wish to stay connected to the digital world.

Factors Influencing Customer Decisions

• Designs, features, and products

• Prices – Money valuation

• Brand Perception

• Loyalty

• Social Status/Lifestyles

The younger customers prefer to spend more for the latest and newest technology while the older customers prefer trusted, loyal brands. The social class is based on income, profession, wealth, education, and family background. Seven groups make up society which consider of lower and the upper lowers, the working class, the lower and upper middles, and the lower and upper uppers, that impacts and make purchase decisions accordingly.

Reaching the Customer

Samsung market strategies focuses on campaigns promoting their products while appealing an attraction from an audience by online adverting, commercials on television, billboard displays, and various sponsorships, extending their branding presence. Samsung uses multi-segment imitative, and anticipatory positioning, targeting multiple segments, while mimicking successful brands at a low turnover.

Positioning and Differentiation

Samsung Electronics has positioned itself as a company that produces the most creative quality mobile devices using an Android operating system. Samsung offers innovative sleek phones for everyone to enjoy.

Competitive Advantages

• Samsung becoming a key leader in innovation

• Samsung’s constant research of the needs and demands of customers

• Samsung’s commitment in producing eco-friendly products, technology, and affordability.

Market Niche and Positioning Strategy

Samsung has captured it’s niche market with their product diversification. Obtaining success in innovative unique folding phones with no viable competitors in sight. This allows Samsung to secure it’s position in this innovative hardware segment and shape the market the way they want. And also gaining a significant amount of the global smartphone by implementing excellence segmentation, targeting, and positioning strategies.

Positioning Statement

To target audience, Samsung is the only brand known for providing low-priced mobile devices for customers that desires affordable, functional, and user- friendly products and services.

Repositioning Considerations

No. 

Branding

Brand Description

Samsung Electronics is one of the world’s leading creators and manufactures in the mobile industry. Globally inspiring designs and technology in redefining the world of all electronic devices. A company who focuses  on consumer  oriented innovation.

Brand Promise

Samsung brand promise is "to devote its talent and technology in creating superior products and services that contribute to a better global society”. This promise is a good fit because it aligns with the actions and steps Samsung is currently and continuously pursues in their success.

Brand Voice and Personality

Samsung is™

● Inspiring

● Innovative 

● Trendy 

● Vibrant 

● Cutting Edge 

● Always Evolving

Brand Positioning and Strategy

My recommendation for Samsung would have to be better rewards system for their loyal customers. They currently offer a slight discount on new products if your return their old product models, but I think the incentive could be a little higher.

Marketing Mix (4Ps)

Product Strategy

● Samsung 

Pricing Strategy

● Samsung adjusts price points to suit more customers in the market.

● Samsung uses price skimming strategy.          

●     The price is set to attract the most revenue for new releases in high demand.

Place: Distribution Strategy

● Samsung distributes their products through many different channels. 

● Samsung has service dealers that handle accounts and large retailers that sell their products.

● Samsung have their own website where customers can choose and order and customize what they want and like.

● Samsung  disburse their products through a single distribution company in a certain area.

Promotion: Integrated Marketing Communications Strategy

Approach

Promotion is the prime integral in Samsung’s marketing mix because of high levels of competition within the market. To get the attention of new and potential customers, Samsung exhibits their products and services with their enticing ads through television commercials, billboards/digital displays, via various social platforms, etc.

 Goal

● To obtain more customers and product awareness.

● Providing more education in the use of products and services. (especially of the older customers)

● Maintain 25% growth in sales by 2023 and transforming to clean electricity by 2045.

● Increase the hiring of more innovative developers.

Messages

1) Continuing to raise the bar with the best and latest quality products for you and those around you can use and love while staying connected with integrity and excellence reputation. Being the best and beating the best.

Promotional Mix and IMC Tools 

Samsung uses a variety of marketing communication through viral marketing, live commercial’s, print and media advertising. Samsung uses sales promotions as a marketing tool such as their rewards program, point of sale materials, and free gift offers. Through newsletters and emails feedback collections and provide updates on any upcoming products, services, or even promotional deals.

Digital Marketing

● Website: Add testimonials from prior attendees, event hashtag, rolling hashtag Tweets box, social media buttons to make registration easy to share via social media

Direct Marketing

● Email marketing: Reach out to prior year’s attendees who are already registered. Ask them to post about plans to attend the upcoming conference. Conduct email campaign with target audience list to generate awareness, interest, desire to attend the conference. 

Sales Promotion + Digital Marketing

● Contest/giveaway: Offer giveaway where Facebook, Twitter and LinkedIn posts trigger entries in a “conference evangelist” contest/giveaway to take place at conference opening session, one entry per social media tool per day

Sales Alignment

Samsung strengthens  and solidifies it's  brand by  creating quality content and having a broad presences on all platforms. It focuses on leveraging the power of great marketing campaigns to promote its brand and attracting an audience.

Measurement (KPIs - Key Performance Indicators)

How will you measure the success of the campaign? Select 3-6 KPIs (key performance indicators) that you will measure. Briefly explain why each KPI you select will be a good indicator of whether your campaign is successful.

Examples of KPIs: 

● Total sales/revenue 

● New/incremental sales

● Number of qualified leads generated

● Net Promoter Score

● Website unique visitors

● Number of registrations/sign-ups

● Impressions - views of content

● CTR - click-through rate

● Engagement - comments, likes, shares, page views, video views

● Followers - social media (Facebook, Twitter, LinkedIn, YouTube)

● Awareness

● Etc. 

Budget 

Budget: List marketing budget and resources required to execute your marketing campaign, and estimate what it will cost. Include items such as labor, materials and other expenses such as: print materials, online media tools or development, public relations services, design services, content development services, space or equipment rental, etc. Also, estimate the increased sales or revenue the campaign will generate for the company. 

Item

Layout the business case why recruiting managers need an easier tool for vetting resumes and reference checking in the technology industry $500.00

Digital/Social Media $10,000,000

Engineers $113,757

Estimated campaign impact: $124,257

Action Plan

By 2023 - Focus on 5G smartphones

By 2025 - Mass production of technology

By 2027- Expand production capacity by 3x

                     Non-mobile applications and automotive expected to exceed 50% of it's foundary portfolio

Risk Factors

Contingency plans and risk management: Consider the possible risks to your business and make contingency plans to address them would be acquiring patents and more options or price reductions.  Licensing some of their expertise like their screens to Apple.

Attributions

CC LICENSED CONTENT, SHARED PREVIOUSLY

Flinders Business School Marketing Plan Template. Authored by David Medlow-Smith. Located at: https://archive.org/details/FlindersBusinessSchoolMarketingPlan2. License: CC BY-SA.

ORIGINAL CONTENT

SWOT and Integrated Marketing Communications Templates. Authored by Melissa Barker. License: CC BY: Attribution.

Revision and adaptation. Authored by Lumen Learning. License: CC BY-SA.

Revision and adaptation. Authored by Waymon D. “Wade” Hyde, faculty, El Centro College/Dallas County Community College District. License: CC BY-SA.

www.samsung.com 

www.cnet.com, "Best Samsung Pine 2022”

www.newzoo.com, "Samsung & Apple’s Smartphone Duopoly Continues, But China’s Users Are 

                                Switching from Apple to Domestic Brands”, By: Tianyi Gu, 07/14/2020      

www.forbes.com, “Samsung Electronics:

www.irishexaminer.com, “Samsung unveils new foldable phones to secure lead in niche          market”, By: Joyce Lee 08/10/2022