Practicum project for week 7 Part 2
1. The student who works at the selected company must interview the marketing managers about the marketing approach and gather information about its success.
2. Discuss the results of the interview and identify:
a. Other approaches that would be taken to market to the same demographic.
b. Other demographic groups the product would appeal to.
c. Approaches to market to a new market segment
3. Other students must investigate competitive products and identify the methods of marketing used to promote them (use the same questions above in # 2).
4. Summarize your recommendations and conclusions
Week 7
Part 2
Assessing the success of marketing campaigns
Deliverable: Follow APA formats and citation requirements. Your final report should not be more than 10-15 pages in length, double spaced, 12 point type, using Times new Roman font. References are single spaced and should be provided at the end of the report.
Suggestions: I advise you to consult university’s electronic library, L.I.R.N. for additional materials which is available 24 hours per day via internet connection. Reference articles will also be the appropriate source to use.
In your practicum project, you should include the content of the course which is more or less within the context of your own work environment. You are advised to design and recommend solutions that have meaning and relevance to your employer.
Please follow the following project outline for your submission in Week 7:
Abstract (1/2 page/300 words)
· Summary of the issues
· The approach used
· The lessons learned, and
· Recommendations
Organization profile and analysis (1-2 pages)
· Background information
· Descriptions of the organization(s)
· The student’s position within the organization
· A short explanation of the organizational structure
· A descriptions of the programs/products/services offered by the organizations
Project related sections (7-10 pages) Part 1-2
· Recommendations and/or conclusions
SAMSUNG MARKETING CAMPAIGN STRATEGY 2
Samsung Marketing Campaign Strategy
INTRODUCTION
Samsung Electronics is a South Korean multinational hardware and data innovation organization headquartered in Samsung Town, Seoul. It is the lead backup of the Samsung Group. With gathering plants and deals arranges in 61 nations over the world, Samsung have roughly 160,000 representatives. In 2009, the organization took the position of the world's greatest IT producer by surpassing the past pioneer Hewlett-Packard (Shiba, 2007).
Its deals income in the zones of LCD and LED presentations and memory chips is number one on the planet. In the TV fragment, Samsung's business sector position is overwhelming. For the five years since 2006, the organization has been in the top spot regarding the quantity of TVs sold, which is relied upon to proceed in 2010 and past. In the worldwide LCD board showcase, the organization has kept the main position for a long time consecutively (Mullins, 201.
Practicum project for week 7 Part 21. The student who works at t.docx
1. Practicum project for week 7 Part 2
1. The student who works at the selected company must
interview the marketing managers about the marketing approach
and gather information about its success.
2. Discuss the results of the interview and identify:
a. Other approaches that would be taken to market to the same
demographic.
b. Other demographic groups the product would appeal to.
c. Approaches to market to a new market segment
3. Other students must investigate competitive products and
identify the methods of marketing used to promote them (use
the same questions above in # 2).
4. Summarize your recommendations and conclusions
Week 7
Part 2
Assessing the success of marketing campaigns
Deliverable: Follow APA formats and citation requirements.
Your final report should not be more than 10-15 pages in
length, double spaced, 12 point type, using Times new Roman
font. References are single spaced and should be provided at the
end of the report.
Suggestions: I advise you to consult university’s electronic
library, L.I.R.N. for additional materials which is available 24
hours per day via internet connection. Reference articles will
also be the appropriate source to use.
In your practicum project, you should include the content of the
course which is more or less within the context of your own
work environment. You are advised to design and recommend
solutions that have meaning and relevance to your employer.
Please follow the following project outline for your submission
in Week 7:
Abstract (1/2 page/300 words)
2. · Summary of the issues
· The approach used
· The lessons learned, and
· Recommendations
Organization profile and analysis (1-2 pages)
· Background information
· Descriptions of the organization(s)
· The student’s position within the organization
· A short explanation of the organizational structure
· A descriptions of the programs/products/services offered by
the organizations
Project related sections (7-10 pages) Part 1-2
· Recommendations and/or conclusions
SAMSUNG MARKETING CAMPAIGN STRATEGY 2
Samsung Marketing Campaign Strategy
INTRODUCTION
Samsung Electronics is a South Korean multinational hardware
and data innovation organization headquartered in Samsung
Town, Seoul. It is the lead backup of the Samsung Group. With
gathering plants and deals arranges in 61 nations over the
world, Samsung have roughly 160,000 representatives. In 2009,
the organization took the position of the world's greatest IT
producer by surpassing the past pioneer Hewlett-Packard
(Shiba, 2007).
3. Its deals income in the zones of LCD and LED presentations
and memory chips is number one on the planet. In the TV
fragment, Samsung's business sector position is overwhelming.
For the five years since 2006, the organization has been in the
top spot regarding the quantity of TVs sold, which is relied
upon to proceed in 2010 and past. In the worldwide LCD board
showcase, the organization has kept the main position for a long
time consecutively (Mullins, 2013).
With the Galaxy S model cell telephone, Samsung's Smartphone
lineup has held the second-best opening on the planet market
for quite a while. In rivalry to Apple's iPod tablet, Samsung
discharged the Android controlled Samsung Galaxy Tablet. To
build itself as a significant player in worldwide portable
handset market, Samsung actualized diverse advertising
methods like imaginative and mechanically propelled items,
individuals driven item outlines that fulfilled the needs of the
customers around the world, joining forces with neighborhood
wholesalers and suppliers, investigating new market and united
showcasing effort (Kotler, 2012).
SWOT ANALYSIS OF SAMSUNG
Samsung Group is one of the biggest mechanical gatherings in
South Korea, working through a system of subsidiaries world.
The organization intrigued by more than 20 associates, and
spotlights on hardware, fund and administration exercises.
Samsung hardware is one of the world's biggest producers of
arbitrary access memory chip.
STRENGTHS
Clients are faithful and admiring the brand. Samsung is
appreciating great position against its rivals. The organization
is keeping up great association with its suppliers. The
organization is likewise keeping up with workers. Samsung is a
monetary solid and Stable. The generation methods and
techniques of stock administration are steady with mechanical
norms.
4. WEAKNESSES
Samsung is confronting hard rivalry. South Korea's guilds are
deliberately connected for aggregate dealing and arrangement.
Samsung need enhancements in characterizing the vision,
mission and key corporate goals. Advertising administration
needs change in all the truths of displaying. HRM additionally
needs change in all the truths of HR administration.
OPPORTUNITIES
The monetary state of South Korea appears to be positive.
Samsung is interiorizing the social movements. It is having
consistent arrangement given by the legislature. Samsung is
sensible prepared to deal with innovative changes. Samsung is
keeping up great global association with different nations and
the neighborhood.
THREATS
The enactment has been passed often identified with industry.
Mechanical change happens in the business was high.
Administrative issues and protecting of property rights was
principle dangers in enactments.
STRATEGIC OBJECTIVES OF SAMSUNG ELECTRONICS
SEGMENTATION STRATEGY
Market segmentation has three levels including
1. Strategic Segmentation-vision, vital plan and item advantages
2. Administrative Segmentation- resource allocation, alignment
and planning
3. Operational Segmentation-Marketing projects, for example,
promoting, deals and circulations.
Segmentation in the business driven procedure methodology is
fragments, esteem opportunities, new market space,
coordinating quality necessities with abilities, business focusing
on and strategic positioning (Kotler, 2012).
Activities of market segmentation are:
1. Characterizing the business to be fragmented.
2. Distinguishing business sections
3. Shaping business sections
4. Better division procedures
5. 5. Selecting the division procedure
MARKET TARGETING
The market targeting on alternatives incorporate a solitary
segment, specific segment, extensive segment at the point when
segments are not plainly characterized, product specialization or
product mixture techniques can be utilized. Market targeting
focusing on choices need to consider product advertise life
cycle stage. In developing business sector stage danger and
vulnerability is too high, in development stage advantages from
related knowledge yet it is more exceptional than rising stage,
and in adult stage different focusing on methods could be
possible, for example, item assortment or product Specialization
(Viardot,2004).
POSITIONING STRATEGIES
The idea to position the brand may be taking into account the
capacities gave by the item, the experience it offers or image it
passes on. Creating positioning method obliges coordinating the
product, value, worth chain, and advancement technique to
center them available target. The situating method coordinates
the company's abilities with the purchaser's inclinations
(Viardot, 2004).
Because of Samsung's predominance in the general TV
showcase, the dangers as you can tell are insignificant. Then
again, in the methods and opportunities areas you will discover
what we are doing to decrease the danger of these dangers
having an influence on Samsung's business share (Viardot,
2004).
Building up an organization with Microsoft will be a crucial
part to adding to the 3Dgaming substance accessibility, which is
the main significant upper hand other than valuing. As Samsung
acquaints new 3D items with the business sector, the cost of the
intermittent items will drop, making them all the more promptly
accessible to lower class shoppers and growing the target
market for their 3D products (Viardot, 2004).
Marketing Mix
Product Strategy
6. Samsung offers the most various product blends in the 3D
business, offering LED, LCD and Plasma 3D TVs.
Features
-55" or 46" class LED backdrop illumination show .31" slight,
the most slender TV accessible The most innovatively propelled
TV remote, with which, one can stream live TV to in the event
that you leave the room of the main display and perspective
substance specifically on the LCD screen on the substance of
the remote
Advantages
The particular preference to purchasing a Samsung 3D TV for
the buyer is the information that they have purchased the most
forefronts. Mechanically propelled TV, in the 3D business
sector.-The remote is the one and only of its kind, offering
buyers an unmistakable highlight they cannot get from any of
SE's rivals. - Samsung's 9000 arrangement is the most slender
TV ever delivered. Samsung offers the best 3D bundles,
comprising of 3D starter packs, 3D home theater encompass
sound, 3D proficient blue beam players, and the most elevated
quality 3D TVs(Shiba,2007).
Benefits
Among the advantages of this item, the increment in consumer
loyalty, because of the nature of the item, will be unmatched by
contenders. Since Samsung delivers such a different item blend,
they can address all the issues of the 3D TV purchasers with the
items they offer, at an exceptionally focused level.
Price Strategy
The cost of the 9000 arrangement is $5,999. Then again,
Samsung's different product mix of 3D TVs range from $1,200-
$7,000.
Promotion Strategy
Samsung has propelled different promoting campaigns, burning
through billions of dollars over three landmasses, North
America, Europe and Asia. Eight billion dollars has been spent
in Europe alone, and three billion in Asia. Neither of which
contrast with the twelve billion dollar battle propelled in the
7. North America, dominatingly the US, from where 66% of the
3D TV business exists. They additionally have and will keep on
utilizing VIPs, for example, singing gathering, The Black Eyed
Peas, to advance their items. They utilize these big names in
promotions seen by general society, additionally at some of
their greatest occasions in which they show the item and permit
the purchasers at the occasions to experience Samsung (Viardot,
2004).
These products are sold generally on the web, where clients can
discover arrangements with the expectation of complimentary
dispatching and set up. This additionally offers customers the
chance to break down audits and physically see highlights of
our items as opposed to hear them from a retail location partner.
Samsung's product will not be offered in wholesale stores or
supercenters like Wal-Mart or Target; however, the purchaser
will have the chance to buy them in hardware retail locations
like Best Buy (Viardot, 2004).
Market Research Findings
1. Video Game Market
Because of the intention of going into partnership on with
Microsoft to add to a 3D gaming framework, inquiring about the
gaming business sector was fundamental. As per DMW Media,
worldwide feature amusement deals totaled 41.9 billion dollars
in 2009 and are required to grow 10.3% to 68.3 billion in 2012.
Games comfort deals are relied upon to achieve 34.7 billion
dollars in deals by 2012 with a 6.9% yearly development rate
(Viardot, 2004).
2. What persuades them to offer 3D TV's in this business
sector?
As indicated by Future Source, 3D TV deals have been sound
and are starting to surpass HDTV deals at the same point in
HDTV's life. Future Source additionally says that before the end
of 2010, 6.2 million 3D TV's will have been sold around the
world, with 1.2 million of those being sold in Europe. 10
million are required to be sold in 2011, and 50 million by the
year 2015(Viardot, 2004).
8. Focus group
To pick up a superior thought comprehension of the buyer
market, we composed a center gathering. The center of the study
was on what the present customer felt about the 3Dproducts
accessible, and what changes could be made according to the
purchaser. The gathering comprised of 10 normal purchasers, 5
men and 5 women. 5 of the individuals in the gathering had
utilized our Samsung 9000 Series 3D 1080p LED HDTV, while
the other 5had never utilized a 3D TV and were basically gotten
some information about the thought of acquiring one and the
general idea of 3D TV's (Viardot,2004).
Marketing Objectives
1. Go into the 3D feature Gaming Market through an association
with Microsoft With a specific end goal to gain by the
developing video gaming market sector. There is a plan on
going into an association with Microsoft to build up a virtual
gaming product. Short term, plans include wanting to couple 3D
TV innovation with a predominant video gaming like the XBOX
360. By the year 2020, they plan to propel a virtual gaming
product (Viardot, 2004).
2. Launch a commercial ad campaign that spotlights on SE's
competitive advantage in 3D innovation. A commercial battle
concentrating on our upper hand in innovation would be
exceedingly compelling in offering more 3D TV's to creating
business. We need to make it realized that Samsung was the
first to pioneer this innovation, hence, they are getting the most
exceptional item in the business. Our objective is to expand TV
deals by 5% in a 6-month period taking after the dispatch of the
battle (Viardot, 2004).
3. Keep up business sector strength all through the "Glasses"
period and set up the business sector for a "glassless" 3D TV.
Having officially settled a firm hangs on the 3D business sector,
we might want to keep up our position as business sector
pioneers in 3D innovation with the utilization of 3D glasses. As
the business sector develops closer to glasses free innovation
we might want to set up the business for their product release in
9. 2016. Their goal is to see their piece of the overall industry stay
at 85% until the arrival of glasses-free product (Viardot, 2004).
Financial Marketing Plan
To enter into the gaming business with Microsoft, we plan to
center our R&D spending plan (7 billion in 2010) singularly on
creating a virtual reality gaming stage. This financial plan
incorporates the examination important to build up the product.
Samsung require like another 20 billion to reserve creation,
circulation, client administration, and statistical surveying .A
normal notice amid the super bowl is $1.1 million dollars for
one 30-secondSpot. They require like a 500 million dollar
publicizing spending plan to advertise successfully for a six-
month period, with the daily operating cost and should not raise
the average spending per annum (Shiba, 2007).
References:
Arthur, C. (2014). Digital wars: Apple, Google, Microsoft and
the battle for the Internet
Kotler, P., & Armstrong, G. (2012). Principles of marketing.
Boston: Pearson Prentice Hall.
Mullins, J. W., & Walker, O. C. (2013). Marketing
management: A strategic decision-making approach. New
York: McGraw-Hill.
Shiba, T., Shimotani, M., & International Conference on
10. Business History. (2007). Beyond the firm: Business groups
in international and historical perspective. Oxford: Oxford
University Press.
Viardot, E. (2004). Successful marketing strategy for high-tech
firms. Boston: Artech House.