The Samsung Company Products in the Market - Case Study Example

Marketing Research Name: Course: Tutor: Institution: Date: Introduction The research study was an analysis of the perception of the customers in the market. In this case, the study sought to evaluate how the customers perceive the marketing mix variables of the Samsung Company smart phones. In order to enhance the analysis, the study applies charts, tables and figures in its representation of data. Moreover, for every evaluated element, the study analyzed the findings in regard to existing literature as a means of evaluating the overall market success. The study was based on a questionnaire with a total of 50 respondents. Background Information One of the fundamental pillars of a research study is to establish the viability and reliability of the respondents (Schoenherr, Ellram and Tate, 2015, p.289). In this case, the respondents’ feedback is often reliable and viable if the respondents are conversant with the research study item. In this case, the lack of understanding on a research topic means that the offered responses cannot be relied upon as informed and accurate feedback. Thus, in order to counter this challenge, the study progressed with the question of whether the customers were conversant with Samsung brand products. In this case, the research approach was two way. On one hand, if over 70% of the respondents stated that they knew the brand products, the sample would be relied upon as reliable. However, if such a percentage was not achieved, the study would discard the sample base and seek for a more reliable and conversant sample. In the analysis, 100% of the respondents responded in the affirmative. This meant that all the respondents were conversant with the study topic. The 100% conversant sample base was as a result of a number of factors. Key among them was the applied research study sampling technique. In this case, the study had applied a non probability purposive sampling technique. As such, only the most available and willing customers were used in the sample. Thus, the researcher used the customers seen visiting a Samsung retail outlet. The second background analysis study was a review of the number of Samsung brand products the customers were conversant with. In this case, the analysis study was as illustrated in figure 1 below. Figure 1: No of Samsung Products Known Based on the above analysis, it was evident that a majority of the respondents knew more than 5 products offered by Samsung Company. In this case, the high number of respondents is due to the marketing approach applied by Samsung. On its part, Samsung applies both the product and organisational branding. On one hand, each of the products has their separate marketing strategies and lines, as a means of targeting specific customers in the market. On the other hand, the organization has organisational brand marketing. This is an approach through which an organization markets all the brands under its banner. Through the adoption of this process, the organisations ensure that the customers not only know of the specific products they are accustomed to purchasing, but also all other products offered by the venture (Bridson, Evans, Mavondo and Minkiewicz, 2013, p.246). Thus, through the adoption of the organisational brand marketing strategy, Samsung has created and increased its brand products recognition in the market. The third question was a direct question that introduced the study. Although not directly related, it offered an analysis of the process through which the customers were familiar with the brand. In this case, the review asked the customers of the Samsung smart phone products they were conversant with. As such, the study established that the customers were well aware and conversant of the different product brands. Among the reviewed products included Galaxy S, and Galaxy note respectively. In this case, a majority of the customers stated that they were familiar with these two brands offered by the company. Therefore, the subsequent study analysis was hedged on an evaluation of the two brands as indicated by the customers in the study. Purchase Frequency One of the determinants of a brand success is the frequency of purchase. In this case, the frequency of a product purchase is based on post purchase experience. On one hand, if the customer experience on a product use was good, there is the likelihood of are-purchase. On the other hand, if the customer experience on a product was negative, there is the risk of minimal or no re-purchases in the market. The Samsung Company customer repurchases and frequency of purchase analysis is as illustrated in table 1 below Response Percentage Not at all 0% Less often 5% Often 56% More often 39% Table 1: Repurchases rates Based on the table 1 above analysis, it is evident that a majority of the brand customers purchase its smart phone products often. However, only 39% of the total respondents. This is an illustration that although the customers were satisfied, they were not ultimately satisfied in the market. Therefore, this calls for increased improvements in the organisational smart phone products features and functionality. In the evaluation of the repurchases tendencies, this analysis adopted the serviqual model. In this case, the model illustrates the causes of customer dissatisfaction and negative experiences (Shaw and Ivens, 2005, p.29). As such, the model underlines that the presence of an expectation and functionality difference creates a negative experience. In this case, when the customers’ expectations on the functionality of a product are unmet, it leads to dissatisfaction, and eventually a low repurchase rates (Faller, 2013, p.82). Therefore, based on this review, the study findings that although the Smartphone’s meet the basic customer requirements’. The innovative and extra benefits expectations are unmet. This could be as a reason of the brand and product comparison between the Samsung Company smart phones with the competitors such as Apple smart phones. Therefore, this analysis argues that the Samsung Company should focus on embarking on a benchmarking approach. In this case, the benchmarking should ensure that it identifies the key features that the competition applies that are lacking in its devices. Consequently, it should, through the research and development function, develop and innovate on such gaps in the future. The adoption of such strategic measures will develop and grow the organisational Smartphone’s products customer’s satisfaction. In return, this will increase the number of often and very often repurchase of the Smartphone’s in the future. Quality Features The quality element of products in the market is the element of its functionality. In this case, the quality examination is based on the product ability to deliver and meet the functionality and issues that the manufacturer says it can meet. In this case, definition of a product quality varies between the manufacturer and the customer. On one hand, the manufacturer perceives a quality product as one that is free of defects and meets the company specifications. On the other hand, the customer perceives a quality product as one that meets the overall product and expectation needs. In this case, a quality product is one that delivers and enables them meet and satisfy their overall market needs. The analysis of the Samsung Company quality features is illustrated in the figure 2 below Figure 2: Quality Features In the above figure analysis a number of developments and illustrations emerged in the study. On one hand, a large number of the respondents, at 46% stated that the Samsung Smart Phone products met the quality expectations to a less extent. On the other hand, an additional 34% stated that it met the needs to a great extent. This is n illustration that 80% of the respondents had positive remark with respect to the Samsung Smart phones quality. The development of such a positive remark on the product quality could be hedged on the systems and practices applied by the organization. One of the quality control measures applied by the Samsung Company is the adoption f a pull marketing rather than a push marketing strategy. The pull marketing strategy is one that relies on the market demand and needs to develop new products (Lamb, Hair and McDaniel, 2009, p.413). On the other hand, the push strategy is one that relies on the organisational innovation and capability to produce new products and then market them to the customers. The use of a push marketing strategy exposes organisations to the risk of adopting and developing products that are unacceptable and unsatisfactory to the customers. On the contrary, the pull strategy seeks to develop products based on the customers’ needs and expectations. In this regard, organisations rely on the customers’ survey and research to inform the research and design function on the relevant product features to incorporate in a new product (Balmer and Burghausen, 2015, p.387). The inclusion of the customers’ needs and expectations allows for the satisfaction of those needs upon product development. Therefore, based on the above analysis, this review concludes that Samsung applied the pull strategy. Allowing for the satisfaction of the respective customer needs in the market. However, a large proportion of the customers at 46% stated that although it met the expectations, it was to a less extent. This is an indication that the organisational quality development process as failures and mistakes. In this case, although the standard product features are derived from the customer needs, they often do not function and perform as expected. Therefore, this indicates a potential and probable production standardization process. Currently, Samsung applies the total quality management system. Under this quality control approach, the organization seeks to manage quality under every stage. However, the absence of strict quality evaluation tools at the end of every stage exposes the venture products to the risk of defects and performance failures. Consequently, based on this understanding, the venture concludes that the management should focus on strengthening its total quality management systems. Alternatively, it could adopt the six sigma approach that allows for the elimination of defects and enhances product standardization respectively. Alternatively, the organization could adopt a new customized production process. The global market customer needs are changing and evolving on a daily basis. As such, the production of standardized products could lead to minimal needs satisfaction. In this case, this analysis recommends that Samsung Company adopts an additional approach to developing customized products. I this case, this could allow for the elimination of their junk applications and features that some of the customers do not need. Instead, its application would support the addition of new features that are unique to specific customer markets. However, in the application of this customized production system, the venture should ensure the development of a cost benefit analysis of every production to insulate it from potential losses (Chaturvedi, 2003, p.7). Price Analysis The price element is a key feature in the marketing mix elements. In this case, price application has effects on both the providing organization, as well as to the customers. On one hand, to the offering organization, pricing allows for the acquisition of profitability margins and revenues from sales. Therefore, proper pricing allows for the maximization of the profits in the long run period. On the other hand, to the customers, pricing indicates the impacts on the customers’ ability to purchase and consume a product. The analysis below offers a chart representation of the perceived pricing system and its conformance and consideration of the customer needs. Chart 1: Pricing Conformance to Expectations Based on the above chart 1 analysis, it is apparent that a large proportion of 60% of the respondents considered the applied pricing system as meeting their expectations to a less extent. As such, only a partly 14% argued that the pricing approach and levels met their needs to a large extent. The study findings could be understood from the understanding of the prices conflict between the organization and the customers. On one hand, in order to maximize profitability, organisations are expected to charge the highest possible prices based on the market capability, competition, and regulations respectively. On the contrary, the customers seek to maximize the value and gains from their money. Thus, they would consider the least quality prices products as the ones meeting their needs to the largest extent. Therefore, in order to resolve this challenge, the market applies the forces of demand and supply to set an equilibrium price (Callan, Callan-Thomas and Thomas, 2007, p.33). Although this rice could not be the best for any of the parties, it allows for a compromise and needs alignment. Therefore, the less extent satisfaction illustrates that the Samsung Company has achieved this objective. In this case, although not to the level the customers would ideally want, it sets its prices at a reasonable market level, that a majority of the customers agree with. Products Availability The products availability element is linked to the place marketing mix. In this case, the marketing mix element evaluates the extent and nature to which an organization effectively distributes its products across the market as a means of enhancing and promoting the access to such products (Mankiw, 2015, p.77). Thus, an increased access to the products is a motivation for consumption. Therefore, in the study analysis, the review was especially concerned with the availability of sales force and retail outlet offering the Samsung Smart phone products. The figure 3 below offers an analysis of the customers’ perception on the stores availability. Figure 3: Place element Based on the above review, it is evident that the company products are largely available. In this case, over 79% of the respondents stated that the products were either available to a less or great extent. However, a 21% asserted that he stores were hardly available. Therefore, this serves as an indication that although Samsung has diversified its stores, it should focus on increasing their numbers in the future globally. This should especially focus on the emerging and developing markets. Summary The above analysis indicates that the Samsung Company products are well known in the market, including its smart phone products. Moreover, the analysis indicates that the venture marketing has succeeded in the pricing and place element, as the customers are satisfied. However, it recommends improvements in the products functionality and quality elements in the future. References Balmer, J. M., & Burghausen, M. 2015, ‘Introducing organisational heritage: Linking corporate heritage, organisational identity and organisational memory’, Journal of Brand Management, vol. 22, no. 5, pp. 385-411. Bridson, K., Evans, J., Mavondo, F., & Minkiewicz, J. 2013, Retail brand orientation, positional advantage and organisational performance’, The International Review of Retail, Distribution and Consumer Research, vol. 23, no. 3, pp. 245-264. Callan, S. J., Callan-Thomas, ., & Thomas, J. M. 2007, Environmental economics & management: Theory, policy, and applications, Thomson/South-Western, Mason, Ohio. Chaturvedi, P. 2003, Engineering and technical education in India, Concept Publishers company, New Delhi Faller, C. 2013, Social media shitstorms. Books On Demand, New Delhi Lamb, C. W., Hair, J. F., & McDaniel, C. D. 2009, Essentials of marketing, South-Western, Mason, Ohio: Mankiw, N. G. 2015, Principles of macroeconomics. Cengage Learning, Stanford. Schoenherr, T., Ellram, L. M., & Tate, W. L. 2015, ‘A Note on the Use of Survey Research Firms to Enable Empirical Data Collection’, Journal of Business Logistics, vol. 36, no. 3, pp. 288-300. Shaw, C., & Ivens, J. 2005, Building great customer experiences, Palgrave, Houndmills, Basingstoke, Hampshire Read More