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Samsung Telecommunications - Basic Marketing Plan Summary
 

Samsung Telecommunications - Basic Marketing Plan Summary

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Samsung Telecommunications - This was an assignment I completed as part of a Marketing class I took at Kaplan University. It was a summary of the basic marketing plan we did over the course of the ...

Samsung Telecommunications - This was an assignment I completed as part of a Marketing class I took at Kaplan University. It was a summary of the basic marketing plan we did over the course of the class. I could not have had a better Professor. He taught me so much and I learned a solid foundation on which to build my marketing skills.

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  • This is a basic marketing plan designed by Holley Klein for my MT 219 Marketing class at Kaplan University with Professor Sean Doyle. This was a 10 week project separated and highly developed using the Textbook – MKTG5 Author (s) – Lamb/Hair/McDaniel, ISBN – 978-1-111-52809-6, Publisher – South-Western, Cengage Learning.Disclaimer: This exercise may include actual companies and brand names solely for instructional purposes; this exercise is not associated with any such actual company or brand name. All trademarks remain the property of their respective owners.Holley Klein Jacobs
  • Company Description - The chosen company of study is Samsung Telecommunications America, L. L. C. They are also known as Samsung Mobile and Samsung Wireless. They provide personal and business communication products including mobile phones and tablets (PricewaterhouseCoopers, 2012). The new software, Holland’s Help will be presented here. Samsung will use a societal marketing orientation and their focus is to satisfy customer’s wants and needs while enhancing society’s long term goals. “Economic contribution to the nation” (Samsung Company, 2012). The application will target two separate groups and develop different promotional strategies. Primary goal is to use the four parts of marketing mix (product, place, price, and promotion) which makes a company wide philosophy.Business Mission - “Economic contribution to the nation”, “Priority to human resources” and “Pursuit of rationalism” (Samsung Company, 2012).Company Values – Samsung holds many values to the highest regard which includes people, excellence, change, integrity and co-prosperity (Samsung Company, 2012).Unique Selling Proposition – The app is for Samsung phones and tablets and will interface with vehicles to assist in multiple functions including onboard data systems, maintenance systems, diagnostics, safety and remote capabilities and provide information even when not in vehicle. Application will alert the consumer to possible problems saving money and potential repair cost or possible breakdown of vehicles.Global Vision – The application’s global vision is the same as Samsung’s (Samsung Company, 2012).
  • The geographic test market will be Washington DC area.Social Environment – Time Constraints – 80% working population is worried about too little time and 74% engage in multi tasking. The app will help with this. American Values – US consumers rank product quality #1, reliability #2, easy maintenance #3, ease of use #4, trusted brand name #5, and low price #6 (Lamb, Hair, & McDaniel, 2012).Demographic Environment – Generation X – they are independent, resilient, cautious, and somewhat skeptical, and products of dual career families. The are avid buyers of the latest fashion, technology, and recreational products (Lamb et al., 2012). Baby Boomers – the economic downturn of 2007-2009 has resulted in their savings and housing values declining rapidly and they need to save money (Lamb et al., 2012).Economic Environment – Purchasing power – “is measured by comparing income to the relative cost of a set standard of goods and services in different geographic areas, usually referred to as the cost of living” (Lamb, Hair, & McDaniel, 2012). Recession – “uncertain economic times have caused many consumers to shift to store brands that, on average, cost 46% less than manufacturers brands” (Lamb et al., 2012).Technological Environment – Basic research – Research will be conducted with consumers to evaluate the most important concerns on maintenance, health, and potential mechanical problems that they would like to be made most aware of. Applied research – All research will include security features protecting consumers personal information and to ensure security on the application against hackers.Political & Legal Environment – Laws effecting marketing – Lanham Act of 1946 which establishes protection for trademark. Consumer privacy – This will be addressed for collection of data.Competitive Environment – Other independent software designers – The app must be perfect in design and with as few bugs as possible. Other cell phone table companies – Once the app is on the market, Samsung must be aware of it competitors attempting to match the app.
  • Consumer Behavior – “Consumer behavior describes how consumers make purchase decisions and how they use and dispose of the purchased goods and services” (Lamb, Hair, & McDaniel, 2012). These factors include culture, social, individual, and psychological traits.Market Segmentation – Demographic Segmentation includes – Age (Baby Boomers and Gen X) – they will spend money for the app for its practicality and necessity, Income – starting at 40K, and Gender – women will wan to use the app as a safety feature.Benefit Segmentation – Safety Concern – Families will like the app in case of unforeseen car issues and to save money to catch potential car problems. Psychographic Segmentation – Personality Traits & Motives – Gen X’ers fit this category as they are focused on their outward appearance. Baby Boomer’s fit due to the reliability and dependable Samsung products. Usage Rate Segmentation – Variables – former users, potential users, first time users, heavy users, medium or light users. Samsung wants to aggressively promote to the heavy users. Heavy users will be offered discount and rebates for signing multi-year contracts (Lamb, Hair, & McDaniel, 2012).Target Market – “a group of people or organization for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges” (Lamb at el., 2012, p. 131). Due to the many features offered by this application, Samsung will use a multi-segmented target market.Positioning Strategy – Since two target market consumers are identified, two separate positioning strategies will be used. Four positioning bases that will be used are the attribute base, product base, user base, and emotional base (Lamb at el., 2012).
  • Product Description – this new application is able to be interfaced with vehicles to assist in multiple functions as well as the on board data systems, including maintenance systems, diagnostics, safety, and remote capabilities. This app is both a business product as Samsung will target different vehicle manufacturers and a consumer product in that it satisfies a need that is unsought as the buyer is unaware of its existence until they are referred to it (Lamb, Hair, & McDaniel, 2012). Brand – Samsung was the brand chosen as they hold the market on innovation in cell phones and tablets and their core values, beliefs, and reputation are in alignment with the application’s developer. Product Classification – This app is a business service due to its intangibility and is an unsought service because there is no app like it.Product Features & Benefits – The most important feature is it’s cost effectiveness compared to the rising cost of repairing vehicles once problem arise.Packaging – Informative labeling is used as it is “designed to help customer’s make proper product selections and lower their cognitive dissonance after the purchase (Lamb et al., 2012).Product Warranties – These are difficult to assess as results are not immediate therefore; free trials will be given and lifetime warrantiesService Characteristics – The app will display consistency, reliability, and great quality control.Relationship Marketing Strategy – This is used to develop long term customer relationships by “using pricing incentives but seeks to build social bonds with customers” (Lamb et al., 2012).Product Lifecycle – This app will go through the four stages including the introductory, growth, maturity, and decline.
  • Marketing Channels – “a set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer” (Lamb, Hair, & McDaniel, 2012).Channel members are the middlemen that help the distribution and provide specialization and division of labor, breaking tasks down for great efficiency. They assist in overcoming discrepancies such as quantity, assortment and temporal as well as providing contact efficiency. Channel Structure – The channel structure will consist of the producers – Holley Klein and Anthony Holland who are independent contractors. They are also the agent since they are facilitating the sale to the wholesaler, Samsung. The wholesaler, Samsung will work with the retailers who are multiple car manufacturers who are able to combine the app and their car brands which will be tracked by Samsung phones and tablets. Lastly, the consumers are the people who purchase vehicles from particular dealers who have the app available.Distribution Intensity – Selective distribution strategy is “achieved by screening dealers and retailers to eliminate all but a few in any single area” (Lamb et al., 2012). Samsung has already been chosen due to their superior workmanship and advancements in technology above their competitors. Car manufacturers will be chosen based on their ability to possess the app.Supply Chain Management – This includes all members of the supply chain being able to communicate, coordinate and integrate activities so the system runs smoothly from producer to consumer. This provides top-level service to the consumer.Managing Logistics – This is defined as the system that connects all of the supply chain members in order for the service/product to reach the customers but more importantly, satisfy the consumer.
  • Strategy – The strategy is for the application to be sold to Samsung who will offer it to particular car manufacturers and will be done through the promotional mix of advertising, public relations, personal selling, and sales promotion (Lamb, Hair, & McDaniel, 2012).Goals – The primary goal will be to push the app into the growth stage as the longer it stays in the introduction stage, the better chance of competition being able to attempt and affect its success. AIDA will be used to meet the goals which is an acronym for: Attention, Interest, Desire, and Action (Lamb et al., 2012).Factors Affecting Mix – Three factors that can affect the promotional mix are product lifecycle, target market characteristics, and push or pull strategy. Product Lifecycle – The app will best suited in the growth stage which is the major goal but the introduction stage is important and imperative as well. The growth stage is the best place for the app to stay in the longest so the app can be exposed to as many consumers as possible due to the app being a nonexistent service as of yet. Target Market Characteristics – Gen Xer’s and Baby Boomers have already been designated as the target markets. Baby boomers will be targeted through personal selling which will give them the ability to have any questions and concerns answered as they may have anxiety over trying something new. Gen Xer’s will be targeted through advertising, mainly social media considering their affinity to all new technologies (Lamb et al., 2012). Push or Pull Strategy – Samsung will use an aggressive push approach with the car manufactures via personal selling and advertising. Pull strategies will include social media advertising and newspaper and TV ads.Integrated Marketing Communication – This is where all areas of marketing combine forces to better reach al markets. This includes: advertising, public relations, sales promotion, and personal selling (Lamb et al., 2012).
  • Objectives – Profit-oriented objectives will be the choice of Samsung which can be broken down into profit maximization, satisfactory profits, and target return on investment. Profit maximization is “setting prices so that total revenue is as large as possible to total costs” (Lamb, Hair, & McDaniel, 2012, p. 302). This does not always mean high prices but is relevant to factors including competition and perceived value. Samsung will use a two-fold position by increasing customer satisfaction and providing the app to car manufacturers more efficiently and by doing so, will be able to capitalize on being the pioneer’s of this technology while holding a monopoly on it in the beginning.Determinants – The definition is “the quantity of a product that will be sold in a market at various prices for a specified period” (Lamb, Hair, & McDaniel, 2012, p. 305). Variable cost will be used at first to maximize profits, then fixed cost as competition enters the market. Keystoning will be used which is when the price is doubled based on its high appeal.Strategy – Since there will be no competition at first, price will be determined on estimated demand of consumer. Price skimming will be used (market-plus approach) due to the app having unique advantages then they will lower the price over time.Ethical and Legal – Price fixing and price discrimination will need to be acknowledged. Since Samsung will be using multiple car manufacturers, they must not sell the app at different prices to each manufacturer. To avoid discrimination means that the app will not be sold at different prices to different companies.Base Price – Price skimming and then fine tuning will be used as well as promotional allowances, rebates, and value-based pricing.Pricing Contingency Plan – When inflation is high, Samsung will use a demand-oriented tactic. Otherwise, price shading will be used broken down into the following: cultivate selective demand, create unique offerings by studying buyers needs based on a collaboration with the car manufacturers, and then value-based pricing.
  • This course was extremely beneficial to me in breaking down the entire marketing process from beginning to end and the many components that are comprised during this period. This course gave me a new found appreciation for all of those in the marketing field (whichever kind that may be) and how important, imperative and absolutely necessary that ALL of these areas work together in order to have a product or service be successful. The marketing mix, when first viewed, appears to be a very simple concept and one that does not take much importance in the overall business of a company. But by taking this course and studying each component in the manner that the course is designed really gave me a new found appreciation of “marketing” in general. I am amazed and astounded at just how many different processes, people, businesses, and most importantly, choosing the “right” consumer(s) class has to all fall into place just right and at the right time in order for a product to go through all four stages of its lifecycle effectually and efficiently. It is true that, when I tell people that I am going into marketing, they generally related that to mean “selling” and this course taught me that marketing is so much more than selling. Also, I enjoyed learning about the global interconnections that go along with marketing. I will admit this is one area of marketing that does not really appeal to me to much. I may be incorrect but marketing, alone; requires so many elements to work concisely together that for me, by adding “global” marketing and all that implies is just to much for me. I plan to stick to my local area as a small business internet marketing consultant for nonprofits upon my graduation from Kaplan. I thoroughly enjoyed this course and especially appreciate my Professor and am happy to have had the pleasure of his instruction through this exciting and complex world of marketing. ~ Holley Klein (Jacobs)

Samsung Telecommunications - Basic Marketing Plan Summary Samsung Telecommunications - Basic Marketing Plan Summary Presentation Transcript

  • Samsung Telecommunications Holland’s Helper Application For Mobile Phones And Tablets MT 219 Marketing Kaplan University Professor Doyle Holley Klein
  • Section I – The Business Company Description Business Mission Company Values Unique Selling Position Global Vision
  • Section II – Marketing Environment • Social Environment • Demographic Environment • Economic Environment • Technological Environment • Political Environment • Competitive Environment
  • Section III – The Customer Consumer Behavior Market Segmentation Target Market Positioning Strategy
  • Section IV – Marketing Strategy Product • Product Description • Brand • Product Classification • Product Features and Benefits • Packaging • Product Warranties • Service Characteristics • Relationship Marketing Strategy • Product Lifecycle
  • Section IV – Marketing Strategy Place Marketing Channel Channels Structure Distribution IntensitySupply Chain ManagingManagement Logistics
  • Section IV – Marketing Strategy PromotionStrategy Goals Factors Integrated Affecting Mix Marketing Communication
  • Section IV – Marketing Strategy Pricing • Objectives • Determinants • Strategy • Ethical and Legal • Base Price• Pricing Contingency Plan
  • References• Holland, A. W. (2012, October 1). How to improve vehicle on board data systems, including maintenance systems, diagnostics, safety, and remote capabilities. (H. S. Klein, Interviewer)• Lamb, C., Hair, J. F., & McDaniel, C. (2012). MKTG5. Mason, OH: South-Western, Cengage.• Pricewaterhouse Coopers. (2012). Hoover’s company profile of Samsung Telecommunications America, L. L. C. Austin: Thomson Reuters.
  • References (Con’t)• Samsung Corporation (2012). Samsung Companyhttp://www.samsung.co/hk_en/aboutsamsung/samsunggroup /valuephilosophy/SAMSUNGGroup_ValuesPhilosophy.html• Samsung mobile press release. (2012, August 29). Samsung mobile press web site: http:// www.samsungmobilepress.com/2012/08/29/Samsung- Ready-to-go-with-windows-8-and-windows-phone-8