Samsung’s Marketing Strategy and Consumer Considerations (815 words)

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Question

Creating and Capturing Customer Value

You will be working with the Model of the Marketing Process (Figure 1.5, p. 33 of text) from the customer’s perspective.

• Select a company with which you personally have an emotional bond. Describe the product(s) or service(s) that you purchase from the company. Using the Model above, explore your relationship with that company:
The Customer (you):
1. What are your specific needs and wants that their market offering satisfies, and how?
2. What kind of information is the company collecting from you, and how are they using it? How does the company learn about its customers and markets?
Marketing Strategy:
3. Who do you think is their target market? What kind of market segmentation do they appear to use?
4. How is their market offering unique in your mind? (What sets them apart from the other competitive offerings that you also considered?) [value proposition] What other competitive offerings did you consider and reject?
Marketing Mix (4 Ps):
5. What is it about the product/service design or brand that is so appealing to you?
6. How did the price deliver better value (in terms of a cost/benefit analysis) than the other competitive offerings you considered?
7. How/where did you acquire or access the offering? (Was it directly, through intermediaries, etc?)
8. How did you learn about the offerings? How did the company communicate with you and promote their brand?
Customer Relationships:
9. How does the company build and maintain a relationship with you? How is it interactive? Does this relationship extend to other marketing partners?
Capturing Value:
10. How long have you been a satisfied, loyal customer, and what might break that bond? Have you made repeat purchases (of the same or other offerings) as a result of your “delight” with the company? Have you recommended the company to others?

Solution Preview

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Samsung’s Marketing Strategy and Consumer Considerations
1. Customers Desires
Samsung Electronics is a multinational electronics company with diversity in communications and household equipment. As of 2012, the organization was the largest electronics manufacturer with a total equity of 168.088 trillion. For the past few years, I gave been a committed customer of the company subsequent their high-quality products and after-sale services. Several factors compel to spend on the company’s products consistently. Firstly, their products depict the latest technological evolution, which increases the overall quality. Just like in any other expenditure, every client seeks to maximize the utility. Similarly, I also enjoy the maximum satisfaction that reflects the value of money spent on a product. Secondly, every customer desires to access customized products to meet his or her particular needs. Although the...

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