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DLP TV Series 6 650 Samsung (marketing strategy) - Essay Example

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It is also one of the world’s most popular brands since the last decade. They produce electronic products like televisions, mobile phones, cameras, DVDs, home appliances,…
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DLP TV Series 6 650 Samsung (marketing strategy)
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Marketing strategy of Samsung Samsung is one of the largest electronic companies in the world which is headquartered in South Korea. It is also one of the world’s most popular brands since the last decade. They produce electronic products like televisions, mobile phones, cameras, DVDs, home appliances, printers, projectors, home theatre systems etc. They come up with new products in the market at constant frequencies. All these products have been of high demand amongst the consumers. Samsung provides value for the goods and offer warranty and guarantee for their goods. They have exclusive service centers for all their products and provide online support to customers. They also have online service request, tracking and feed back options for the customers.
Marketing Environment
Samsung has established it self well in the global market. They have a strong customer base through out the world. As the electronics industry is huge and attractive, it has the risk of very high competition. Fu Jiaozhi, an official from the China Household Electric Appliance Commercial Association, said the high-end TV sets market will be the focus for competition between rival manufacturers. (“China Daily, 2003). The global slow down has not affected the cash flow of Samsung; it still has been investing in producing new products. The DLP TV Series 6 650 Samsung is a new product in the market. People are shifting from the normal television sets to the LCDs and are willing to invest good amount for the televisions. DLP TV Series 6 650 offers a good alternative to consumers, worth, good novelty and product design within the DLP HDTV category. It has a good picture quality and performance. They have very good speakers and also option for 3D facilities. They also look good as they have a slim finish and can be connected to any home theatre equipment. The facility to connect thumb drives, digital camera and media players are their advantages. There are a lot of major players like Sony, LG, Panasonic etc who give a close competition to their products and services.
Target market for DLP TV Series 6 650 Samsung
It is a high end television with various upgraded and inbuilt facilities. The target customers are the urban population who are willing to spend good amount of money for the home entertainment systems. Markets like India, China etc are all the consumer markets, and a good market penetration will increase the sales of his organization.
SWOT Analysis for DLP TV Series 6 650 Samsung
DLP TV Series 6 650 Samsung is a new arrival in the market. The products of Samsung are produced at a low cost as the cost of labors in China is comparatively very low. But still Samsung must continue to maintain their low cost to increase their profits during this global slow down and must be able to handle the competition; Sony and Matsushita have a very strong customer base ad Samsung should come out with ideas to move ahead of them. Samsung must explore the unexplored markets and sell the DLP Series in all the countries. The innovative product at a reasonable cost will increase sales globally. Samsung must concentrate at producing products at all ranges to improve their market positioning. The threats would be the intense competition in the high end televisions today. There are other players in the market who produce similar and better models. And as they are high priced, they are not sold in good volumes. A better marketing strategy for the product will improve the familiarity of the brand in the market.
Market Mix of DLP TV Series 6 650 Samsung
The high end television, being a slim model with updated facilities attracts the urban crowd. The cost of the product when compared to the other DLP televisions are comparatively low and hence might attract customers. The product is available in the global market since2008. The product is also well promoted saying the energy efficiency and the picture quality. Their extended facilities of multimedia and HD option are the additional selling points. They also have the cost advantage which will attract more customers. Samsung also has a bonus LCD TV promotion offers which is a good marketing strategy along with their usual marketing strategies. A report from the ICMR states that ” In August 2002, Indias leading consumer electronics player, Samsung India Electronics Ltd. (Samsung) announced the signing on of seven celebrity cricketers - Team Samsung, as its brand ambassadors.”
Recommendations for market mix
The product although has a good reach amongst the customers, a good marketing strategy will increase its sales and in turn in crease the revenue. Following new and attractive promotion schemes will encourage customers buy the product and help the business achieve its goal. Reducing the cost of the product to a considerable extent will attract even the customers in towns and small places. There can be an additional product like two mini external speakers as complementary products which will pull in customers. A good market development in the unexplored markets is one great opportunity Samsung has. Maintaining the low cost of production and increasing the sales will enhance growth of the organization and markets.
Citation
China Daily, 2003. High-end TV to Be Focus of Market Competition. Retrieved on 05.08.2009 from http://www.china.org.cn/english/BAT/62083.htm
The "Team Samsung India First" Campaign , ICMR, 2003Samsungs Marketing Strategy in India retrieved on 05.08.2009 from http://www.icmrindia.org/casestudies/catalogue/Marketing/Samsung%20Marketing%20Strategy.htm Read More
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