Marketing Environment Of Samsung Samples †MyAssignmenthelp.com

Question: Discuss about the Marketing Environment Of Samsung. Answer: Introduction Marketing plays a great role to increase the share of the market. Samsung is the largest brand in the mobile industry. The main aim of the company is to secure the leadership in the industry so that competitive advantage can be achieved. This company emphasize on the trade exports and activities are conducted in more than 58 countries. Headquarter of the company is situated in Korea and there are more than 65 countries that has a sales network globally. The company is mainly engaged in selling mobile phones that have a large market share globally. Samsung is a Korean word that means three stars. Objectives of this company are to be in the top five positions by 2020. This company also has a vision of increasing their revenue by considerable margin. Marketing environment and the factors that impacts upon marketing It is necessary for the firms to understand its marketing environment before conducting its marketing activities. This helps them in developing their activities in a better way. Samsung is in the industry that is having intense rivalry in terms of innovation and hence company needs to plan marketing activities that are highly differentiable and attractive. Marketing environment for Samsung is as follows: Political and legal: Governments all around the world have changed their business policies inside the country and hence Samsung also needs to comply with all these so that they may not have to face any legal complication in future. In most of the countries governments have eased the rules for doing the business inside the country (Mithas et al., 2013). Economic: There has been continuous downfall in European economy as well as markets like America and Australia has been showing slow growth. This is a challenge for Samsung as people want products that are cost effective (Kumar, 2017). Social: Needs of the society is changing at a faster rate and it has become essential for the firm to make innovations accordingly so as to have edge over the market. Technological innovations at lower rates are highly appreciated in the electronic market (Jung, Samsung Electronics, 2014). Competition: In electronic industry competition have risen to very alarming level. Companies are cutting throats of each other in order to succeed over each other. It has become essential for the companies to construct its marketing environment more smartly so as to pin the demands of potential consumers accordingly (Verbeke, 2013). Factors that need to be taken into account are: Competitors strategy: The strategy that is made by the competitors effects marketing activities of cited firm Industry condition: Condition of industry has greater influence on marketing activities of the cited firm. Consumer demands: This is one of the most essential factors as no marketing activities can achieve success without fully understanding the demands of market. Position in market: Position of the company in the market plays a higher role and poses a greater influence in the planning of marketing activities (Blackburn et al., 2013). Ways in which factors affect marketing activities All the above mentioned factors have greater impact on the marketing activities. It has become essential for them to construct its marketing activities accordingly. Competitors strategy: Many bigger firms like LG, Apple etc. have an excellent market base as well as have the capacity to influence the demands of the consumers. It is essential for Samsung to construct its marketing activities different from that of their competitors. Apart from this Samsung must have marketing strategy that gives them edge over their competitors. This is possible when a comprehensive study of competitors strategy has been made. Industry condition: It is also essential for Samsung to check the condition of the Industry and their performance in order to construct their marketing activities. This helps them in giving ideas regarding the trends and approach of the industry which is necessary for making an effective marketing process (Chen and Ann, 2016). Consumers demands: Before planning of marketing activities it is essential that firm does a thorough market research to understand the demands of their potential consumers. This is essential for achieving greater sales (Wheelen and Hunger, 2017). Position in the market: Before making plans for marketing activities it is essential for Samsung to evaluate their position in the market. Samsung is a bigger brand name and hence it is easier for them to market its product (Bharadwaj et al., 2013). Recommendations Samsung should give more emphasis on Digital marketing so that large market share can be achieved. Effective tools like proper advertising should be considered so that the company can easily accomplish goals and objectives. It is seen that if proper strategies of advertisement are not considered then it can give negative impact on the overall sales. The company should give emphasis on launching the brand in the market so that the company can compete in the market. Samsung should evaluate the market at the time of setting the outlet and take assistance from the consultants so that decisions can be taken. It is essential to locate the outlet at each and every so that the customers can purchase it easily. To create proper management it also essential so that the outlet can be located in each place and the satisfaction level of the customers can be enhanced. Innovation driven marketing strategy is also beneficial for the organization as it can evaluate the needs and wants of the customers. Conclusion So, by evaluating the report it is concluded that marketing plays a significant role and company can conduct the operations smoothly if proper management is there in the organization. In the first phase of the report the discussion is made of the marketing and environment and the factors that gives impact on marketing. In the last phase of the report the discussion is made on the ways that affect the activities related to marketing and also recommendations to enhance the market share in a proper manner. References Bharadwaj, A., El Sawy, O.A., Pavlou, P.A. and Venkatraman, N.V., 2013. Digital business strategy: toward a next generation of insights. Blackburn, R.A., Hart, M. and Wainwright, T., 2013. Small business performance: business, strategy and owner-manager characteristics.Journal of small business and enterprise development,20(1), pp.8-27. Chen, C.M. and Ann, B.Y., 2016. Efficiencies vs. importance-performance analysis for the leading smartphone brands of Apple, Samsung and HTC.Total Quality Management Business Excellence,27(3-4), pp.227-249. Jung, Y.C., Samsung Electronics Co., Ltd., 2014.Display screen or portion thereof with graphical user interface. U.S. Patent D701,226. Kumar, V., 2017. Statistical Evaluation of Customers Satisfaction on the Uses of Samsung Mobile: A Case Study.International Journal of Statistics and Reliability Engineering,3(2). Mithas, S., Tafti, A. and Mitchell, W., 2013. How a Firm's Competitive Environment and Digital Strategic Posture Influence Digital Business Strategy.MIS quarterly,37(2). Verbeke, A., 2013.International business strategy. Cambridge University Press. Wheelen, T.L. and Hunger, J.D., 2017.Strategic management and business policy. pearson.