Research Paper on Marketing Strategy for Samsung Galaxy

Introduction

Strategy is a plan of action that should be followed by a company to enable it reach both the short-term and long-term goals. The strategic management team develops a plan that should be implemented by the organization. The marketing strategy of a company helps position the brand of a company in the market as the best. Positioning the brand of a company requires a careful examination of the competitor trends and industrial requirements, that are then incorporated in the marketing strategy. Therefore, for Samsung Company to succeed in its marketing strategy, the strategic team should partner with the marketing department.

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Positioning

Samsung's Galaxy line positioned itself to be perceived as a phone line that is of the highest quality and represents a strong brand (Samsung). Usually, brands have a specific slogan to create a perceived value in the eyes of the consumers in order to get a head start in positioning their products, but for Samsung, it's different. Samsung doesn't have a specific slogan; instead, they come up with a specific slogan for each product they come out with. The Samsung Galaxy S9, for example, was "The phone. Reimagined". The Galaxy S10 has yet to come out with its own slogan. Samsung is reinforcing their positioning with the S10 by adding new features like an infinite screen, faster processor, and more RAM storage space.

Pricing

Samsung currently uses 2 pricing strategies namely the skimming price and competitive pricing. The first strategy allows Samsung to set high or low prices due to the high-tech features from the phone and also the age of the phone, while the second strategy allows the company to set the price of its products based on its competitors. For instance, the price of the Samsung Galaxy line is cheaper than the prices of the Apple iPhone line. This allows Samsung to have an upper hand in the pricing strategy category.

Product Strategy

The Samsung Galaxy products have a high demand in the market due to their unique features as compared to those from the Apple Inc. The Samsung Galaxy prices are lower, and the company sells its products in various places, as it targets a large number of retailers in the market compared to Apple Inc. Samsung has a broad market. This gives the company a comparative advantage to compete favorably in the market with their goods through the existing distribution channels. The Samsung Company has to distribute the new version of its software products to the market. In order for the Samsung Company to cope with the competitive market and maintain its large clientele base, the management team has to consider the following target prospects, behavior and trends, and product awareness and attitude.

Target Prospects: The Samsung Galaxy products have to target every customer by focusing on strategies like customization and personalization when designing commodities.

Behavior and Trends: In order for the marketing team at Samsung Company to keep up with the industrial trends, the firm has to release and introduce new features to its commodities. For instance, innovation of fun, attractive and straightforward products by Apple Inc. motivated the Samsung Company create AR Emoji to meet the desires of the customers because it became a trend for clients.

Product Awareness and Attitude: Samsung should be aware of competing companies and introduce better features than other firms. Product awareness enables a brand to stand out in the market. Advanced technological and dynamic capabilities through innovation and scientific research allow companies to attain customer satisfaction. For example, Samsung Company phones have a high battery life to avoid charging phones regularly. Samsung has a unique brand image that improves customer perception and loyalty with a timely release of better devices attached with proper instructions to use them. The new Galaxy s10 which is due release next year is the most exciting phone with better upgrade features as related to Samsung Galaxy s9.

Distribution Strategy

Samsung will sell its galaxy series in different markets, as long as retailers are willing to take stock. Therefore, Samsung will sell directly or indirectly to consumers. In addition, since Samsung has an existing distribution network from their existing businesses, the channel will become relevant when introducing the Galaxy to the market. Hence, Samsung does not need much in the way of resources to bring the new Galaxy product to new markets. These distribution channels will also be there for the future dissemination of other Samsung products.

Marketing Communication Strategy

Media Advertising Campaign: Samsung Company makes use of advertising campaigns to promote it products. For instance, the live commercial for S6 devices on the popular Jimmy Kimmel Live Show and on the Late Night with Jimmy Fallon have helped increase awareness of the Samsung brand. Samsung partnered with Fox Channel to run 30-seconds advertising clips during the NFL and college football games. The campaigns have given Samsung Company exposure in the USA market. Samsung also makes use of print advertising in popular newspapers, magazines and journals. The company also used the viral marketing strategy to reach out to the potential customers. For instance, the 60 seconds viral marketing video titled "Anticipation" has popularized the Samsung brand.

Sales Promotion: The Samsung Company uses sales promotion marketing strategy compared to its competitors like Apple Inc. For instance, Samsung uses a reward program. This strategy works when a buyer is awarded a certain number of points for qualified purchases. Points can be used to choose a reward from the catalogue, which features different products from the company like gift cards or phones. Samsung also has a buy-one-get-one free promotion. The company also uses point-of-sales strategy. Samsung's retails stores are creatively designed with the company products to attract customers as they are appealing to the eyes.