From Oprah touting how Weight Watchers has worked for herto American Express endorsing SalesForcecase studies are prevalent across industries and marketing forms. According to Social Fresh, customer testimonials have the highest effectiveness rating for content marketing at 89 percent.
Admin BusinessCase StudyDevelopmentManagement No Comments Introduction to Strategic Marketing Strategic marketing management is a must have for all the companies who are willing to have an edge in their respective industries.
For high technology companies such as Samsung Corporation, this practice is paramount owing to the fact that the company has held billion-worth of capital investments to put up expansive infrastructure in order to produce its products.
Furthermore, the products in such an industry usually have a short life cycle, get obsolete after a short duration of time and are highly imitable by other companies. Thus relying on constant innovativeness as an important tool to remain in business is inevitable.
It enables organisations to uncover the current strategic marketing opportunities, building strategic marketing plans and implementing them. The following are some of the roles of strategic marketing management in Samsung Telecommunications: For example, the Company is a major sponsor of the Olympics games.
Development of new viable products in line with existing customer needs, such as the development of smart phones which offer the users flexibility of use. The android system, for example, allows users to download different applications into their mobile phones according to their preferences.
It assists the organisation in pricing the products competitively in the light of the features of the telecommunication gadgets, costs involved and the geographical locations served. A strong marketing strategy process ensures that the marketing activities of an organisation remain aligned to the corporate goals.
The planning phase consists of three steps: SWOT analysis, market-product focus and goal setting and developing the marketing program. Implementation is concerned with obtaining resources, developing schedules and executing the marketing program.
The control phase is the final phase that is concerned with comparing results with plans and taking the necessary corrective measures. It has consistently used these strengths to achieve organic growth in the world markets Na, The continuous monitoring of progress of operations and thorough focus on internal efficiencies in the company has been responsible for the current market leader position of the company Bhattacharyya,p.
Samsung Telecommunications possesses no official mission statement, but it is expressed in their business philosophy of devoting their talent as well as technology to create superior products and services in order to contribute towards a better global society.
This spells out the strategic goals of the organisation.
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The company is thus able to not only deliver superior products by keeping on top of technology, but also to counter competition at the same time, delivering significant synergies for the company —making it the largest phone maker in terms of the number of units sold IDC, According to Michael Porter, the nature of competition in an industry consists of five forces: The telecommunication or mobile telephony industry where Samsung belongs has several other players who fight hard for market share creating a lot of rivalry in the market.
The barriers of entry in this market are very high whereas barriers of exit are low. This is because it involves high start-up costs. It is easy to exit since all it takes is to sell the investments to other companies.
The buyer bargaining power as well as that of sellers is mixed since these parties equally need the company as the company needs them. The threat of substitutes is high as many telecommunication communications are in the markets competing on innovativeness MSG, The product life cycle model views products as having four distinct stages since their introduction till their exit from the market; introduction, growth, maturity and decline.
The telecommunication line products in Samsung Company have a short product life cycle because of rapid changes in technology. The BCG matrix enables an organisation to allocate resources between its strategic business units.
The products are classified into four depending on their market share and level of growth; dogs, question marks, stars and cows. The portfolio of the various brands sold by Samsung can equally be categorised into these four categories.
Strategic positioning is a strategy used by organisations to ensure business continuity. It involves devising the future desired position of the business based on the present and the foreseeable future developments.
Marketing tactics are employed by organisations in their bid to secure their markets and ensure that their products remain competitive into the future. Marketing tactics are therefore the means to achieve strategic positioning. Samsung Telecommunications has employed various marketing tactics in order to secure its going concern state.
Most of these tactics are centred on the product mix such as pricing strategies, product attributes, distribution strategies and forms of promotion.
For instance, the company uses product differentiation to target both high-end and low-end customers in the market. Sponsoring major events such as the Olympic Games is a promotional tool for the company to attain a strategic position in the market. It is mostly done over the internet using software where an organisation collects customer information and uses it to maximise customer satisfaction and increase sales.
Samsung electronics combine different systems such as supply chain management, product data management and customer relationship management to develop a management information system that enables the company to understand the needs of its customers Rofizar, The social media, such as Facebook, has also been an important platform where Samsung keeps in touch with its customers about its products as well as getting feedback from them.
The merits of these customer relationship marketing practices to Samsung are that:The marketing case study is one of the oldest and most venerable examples of content marketing. From Oprah touting how Weight Watchers has worked for her, to American Express endorsing SalesForce, case studies are prevalent across industries and marketing forms..
According to a B2B marketing trends report, customer testimonials and case studies are considered the most effective . Case 3: Samsung – The Making of a Global Brand Marketing Management. 1. By , Samsung was rated as one of the top 3 players in the global mobile handset market.
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Case Study: Samsung’s Global Marketing Success Story High tech products, solutions and services are evolving faster than most IT organizations and end-users can keep up. In this ever accelerating and competitive industry, Samsung has made huge strides in gaining the competitive advantage in the international market.
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