Samsung Marketing Principles - Essay Example

SAMSUNG MARKETING PRINCIPLES Introduction The ultimate goal to any marketer is to create value for the purpose of getting new customers and or retaining the already existing ones (Yoo, Donthu & Lee, 2000, p. 195). Marketers realize these objectives through pursuing competitive advantage as well as ensuring satisfaction to the customers (Hansotia, 2009, p. 336-340; Miles & White, 1998, p. 413-516). However, effective marketing requires that the marketer(s) understands the environment within which he/she operates in terms of where the product is in the market, where it needs to be and what are the influencing factors towards its general performance within the market. The principles that marketers work with are together with product/service quality and value, competitiveness in innovation, value of brand name, understanding the competitors and consumers as well as better market research (Boyer, 1992, p. 59; Howard, 1993, p. 35). This paper intends at presenting an evaluation and reflection on Samsung marketing principles as evaluated through literature. Discussion The Samsung Corporation specializes in electronics among other products and has been viewed as among the global ‘giants’ in the industry together with the likes of Apple Corporation and others. The corporation has grown to command a global effect since its formation with much of its strength being noted in strategic and effective ‘product life cycle’, effective ‘pricing mechanisms’, high rates of diversification as well as improved and better quality products (Yu, 1999, p. 57-61). Besides, the corporation has been very strategic in marketing practices which has enabled the company effectively capture a global market segment through wonderful and high quality in products, high levels of innovation, high brand value and better understanding of prevailing market environment through market research. Moreover, the corporation adopts great advertising slogans which include the Galaxy ‘S’ slogan ‘The Next Big Thing is Already Here’ (Beedasy, 2013, para 1) and the ‘just like you have been there’ (Trend hunter Inc, 2012, para 1) which have been most effective in marketing the company’s products across the globe. Over years, the company has effectively been designing and introducing to market advanced products as seen through the product evolution of the company. In the early years of the formation of Samsung group, it specialized on production of black and white TVs, latter came the color and latter incorporated the digital productions. Besides, the corporation has diversified on product line to include not only the TVs but also fridges, phones and computer applications among others. Nevertheless, as a global player, it is worth noting that the company has had to brave stiff pressure by competition from other players in the industry such as the Apple Corporation, for the mobile telephones (Beedasy, 2013, para 1-10). The company diversifies in production as shown through in the electronics where it has distinctions in final assembly, electro mechanics, SDI as well as corning (Lee & He, 2009, p. 151). The company has also taken great steps in investing in display market hence increasing on lines of diversification. This is strategic as one would confirm that the modern day competition by companies producing similar products or offering similar services strife to identify a differentiating factor in order to win loyalty of larger market segments while at the same time retaining on the already gained market share of consumers. Innovation is another strength in marketing principles leading the company as shown by a report by Kim (2007, p. 131). According to this report, Samsung Electronics Company for instance has been able to design and produce high quality products through innovation, which protects the company against imitation and or replication by competitors. Besides, through the innovation, the company has been able to effectively manage resources, increase the rate of learning within the organization and becoming a global leader in the industry. Emerging consumer trends and the advancement of technology have seen the evolution of mobile technology taking shape in consumer world. For instance, mobile internet has greatly shaped the world of business today and this explains the strategic decision of the company to invest in such products as the internet enabled phones (Smartphone) and keeping at the forefront in the technology sector. The capacity for the company to remain in the lead in such technological advances has been enabled by investment in the principle of research and development. In fact, the evolution of m-commerce has been a major focus on the marketing strategies adopted by Samsung and this would explain the reason of the brand to invest highly in such a marketing principle (stone, 2012, p. 280-294). Finally, the company has invested in digital marketing, which is among the most effective tools of marketing that are in use today (Kucuk, 2011, p. 345; Sheth & Sharma, 2005, p. 611-612). The strategy is very effective in following the company’s principles in marketing among which is to reach to the greater market segment more effectively and at the lowest costs possible (Tehrani, 2008, p. 1-2; Wood & Suter, 2004, p. 137). The adoption of the strategy would therefore be interpreted as strategic in the 21st century. For instance, while advertising for the Samsung Galaxy, the company adopts the digital marketing principle with the slogan ‘just like you’ve been there’ (Trend hunter Inc, 2012, para 1). A reflective (CAAP) analysis to this marketing strategy reveals that the advert is strategic in context, audience, author as well as the purpose. Being an advert targeted on online customers, the advert is likely to reach a wide range of consumers especially, the young generation who are often described as mass internet users and who would be the main targets for the products. The medium of advertising is thus effectively chosen, as well as the choice of words in the text, which has the effect of leaving a reader thinking of the meaning. This message is intentionally crafted with the main target being the majority of internet users. Samsung mobile telephone and especially the galaxy has had wide spread acknowledgement in the strength of signal and ease of access to internet. The author and designer of the advert is Cheil China, which is an advertising company working for the Samsung corporation. The main captivating feature of the message of the text in the advert is the capacity to allude to adventuring in that the phone and the experience with its GPS would appear as though a person has been ‘there’ before. Conclusion This study therefore establishes that the company has had great success in marketing for the reason of adopting appropriate strategies and principles in marketing. Bibliography Beedasy D., 2013. “How Samsung used comparative advertising to compete with Apple”. Marketing blog. Viewed 27 March, 2014 < http://info.londonschoolofmarketing.com/blog/bid/349914/How-Samsung-used-comparative-advertising-to-compete-with-Apple> Boyer, R.K. 1992, "Six Principles of Successful Marketing", Life & Health Insurance Sales, vol. 135, no. 4, pp. 59. Hansotia, B. 2009, "Marketing by objectives: Using segmentation based on purchase timing to enhance customer equity", Journal of Direct, Data and Digital Marketing Practice, vol. 10, no. 4, pp. 336-355. Howard, C.M. 1993, "Five principles of integrated marketing", Public Relations Quarterly, vol. 38, no. 3, pp. 35. Kim, R. 2007, "Samsung's Competitive Innovation and Strategic Intent for Global Expansion", Problems and Perspectives in Management, vol. 5, no. 3, pp. 131-138. Kucuk, S.U. 2011, "Towards integrated e-marketing value creation process", Journal of Direct, Data and Digital Marketing Practice, vol. 12, no. 4, pp. 345-363. Lee, K. & He, X. 2009, "The capability of the Samsung group in project execution and vertical integration: Created in Korea, replicated in China", Asian Business & Management, vol. 8, no. 3, pp. 277-299. Miles, M.P. & White, J.B. 1998, "Commentary: Setting socially irresponsible marketing objectives: a comment on a "quality of life approach"", European Journal of Marketing, vol. 32, no. 5, pp. 413-418. Sheth, J.N. & Sharma, A. 2005, "International e-marketing: opportunities and issues", International Marketing Review, vol. 22, no. 6, pp. 611-622. Stone, D. 2012, "Mobile -- More than a magic moment for marketers?", Journal of Direct, Data and Digital Marketing Practice, vol. 13, no. 4, pp. 280-294. Tehrani, N., C.E.O. 2008, "32 principles of modern marketing part 2", Customer Inter@ction Solutions, vol. 27, no. 3, pp. 1-2. Trend hunter Inc, 2012. “Footstep-Following GPS Ads: The Samsung Galaxy Campaign Shows Its Just like You've Been There”. Viewed 27 March, 2014 < http://www.trendhunter.com/trends/samsung-galaxy-campaign> Wood, C.M. & Suter, T.A. 2004, "Making Marketing Principles Tangible: Online Auctions as Living Case Studies", Journal of Marketing Education, vol. 26, no. 2, pp. 137-144. Yoo, B., Donthu, N. & Lee, S. 2000, "An examination of selected marketing mix elements and brand equity", Academy of Marketing Science.Journal, vol. 28, no. 2, pp. 195-211. Yu, S. 1999, "The growth pattern of Samsung electronics: A strategy perspective", International Studies of Management & Organization, vol. 28, no. 4, pp. 57-72. Read More