Swot Analysis Of Samsung Marketing

The Honest Company should introduce its products using the price skinning model, introducing their products at an initially high price, the short-run profit-maximizing price; Price skimming is intended to gain as much profit for the firm as possible in each production period (Douglas, 2012). As a new company the initial short term profits are vital for developing the

Price skimming is a strategy which firms often using when starting enter into the market, which offers high price at the introductory stage of the production cycle and lowering the price when competitors have been attracted by the high profit margin to enter the market (Ma & Hernandez 2011).

Companies can choose many ways to set prices, skimming price strategy where a company sets a higher price than normal and a penetrating price where low initial price is set. “Pricing

As described in figure 1, The strengths and weaknesses of the SWOT analysis are internal factors , and can be controlled directly by the organisation. Elliot, Rundle-Thiele, and Waller (2010) describes these strengths and weaknesses as those attributes of the organisation that can help or hinder in achieving its objectives.  In figure 2, the strengths portrayed for Foxtel in the SWOT analysis are vast in comparison to it’s weaknesses. In particular, the advertisement campaign has been a strength for Foxtel, despite the global financial crisis, Foxtel was able to successfully ‘sail through the storm’ with the help of a brilliant advertising campaign promising viewers to save money with Foxtel (Simon Canning, 2011) .  In contrast, the advertisements are targeted to a specific audience which has left out the aging population of 65 and over, which constitutes 13.5%  of the population as at 30 June 2010 (Australian Bureau of Statistics, 2010), this exclusion is a weakness in its advertising campaign.  In addition to weaknesses, Foxtel has

Quick to react to market trends due to its supply chain design, operation & delivery

Samsung is a South-Korean company and its headquarters is in Samsung Town, Seoul (Samsung, 2014). Samsung is made up of 80 companies together. At present Samsung branches exists in 61 countries. Samsung is one of the world 's leading manufacturer in the Android mobile (smart) phone industry. Samsung after releasing the smart phones in the name of Samsung galaxy series which started with Galaxy Y basic model. Later Samsung released S series which got overwhelmed response all around the world. On 24 February 2014 Samsung released Galaxy S5 which was an immediate and quick successor after Galaxy S4 the previous model. When designing the Galaxy S5 Samsung worked on the drawbacks of the previous models and improved camera quality, running speed, finger print reader, private mode, dust and water resistance (Andrew, 2014). In this analysis I have researched and proved that Samsung organization used Integrated marketing and communications on basis of their target audiences, message strategy and media choices.

Objective 4 Maximum market skimming is set at gaining as much profit as possible in a short period of time “short run”. This is done by setting prices high at the beginning of product or service distribution, and then lower the price over time when product and or service innovations become available that are more efficient and or sold at lower price than the high price set by the original product distributor. Product quality leadership is the idea and the objective that is marketed as “gold-standard quality”, for can be offered at high premium prices.

Have you ever found yourself scrolling through social media, looking at pictures of gorgeous places and wishing you could be there right now? Are you tired of constantly just seeing the world through your 5-inch smart phone?

The second pricing strategy is the penetration pricing where the product enters newly into the market. To gain some consumer base from the competitors, the seller initially charges a lower price than the competitors. For example the ticket prices initially charged for IPL, Indian Premier League, matches were lower than the ticket price of the competition ICL matches. On the contrary, price skimming strategy is to grab the financially top class of the market and to do this, the seller charges high prices. The effectiveness of this strategy is based upon

Samsung products range from mobile devices, TV, audio and video, home appliances, cameras, PC and peripherals and print solutions (Samsung 2014). This essay will predominantly look closely at Samsung’s mobile phones market.

* Skimming Pricing: is relatively high pricing strategy. It is tempting where product is highly differentiated. Setting prices assuming that demand will not be determined by price and therefore the price can be high with large profit margins. It assumes inelastic demad curve, which sales will not affected by prices.

The marketing concept is the viewpoint that trades should find out what the customers want and then make decisions to achieve those wants, better than the rivalry. Today most trades adopted the marketing concept, but this has not always been the situation. The process of doing so can be demonstrate in a sequence of stage: the situation is examined to categorise opportunities, the plan is expressed for a value scheme, planned decisions are mode, the strategy is implemented and the results are examined.

Skim – Sold to smaller group of customers who will pay a high price (Who are already more likely to want the product); low-selling effort, high price

In Indonesia, the development of smartphone is very rapid. There are several brands coming in to this country make consumers freely choose which brands are suitable for them. However, the price of the smartphone is not cheap for some group of consumers, so that this product is kind of high involvement product which means that before deciding to buy this product consumers need to consider several brands and then compare those brands, because consumers want to make sure that they buy the right product. So, if the product is not suitable as they expect, there will be any risks for the consumers, such as financial risk that comprises loss of money; functional risk that involving the product performance; physic risk; social risk and psychological risk.

For product mix pricing strategies, iPhone4s use the product line pricing strategies to set its prices for its product. For each product of the company have different range prices. Company usually develops product line rather than single product. In product line pricing, management must decide on the price step by step between the various products in a line. For example, under Apple iPhone line, iPhone 5 has just released with new features and benefits that are compatible with the current technology which is coming to Malaysia therefore, the price of iPhone 4 8GB has relatively decreased from RM1799 to RM1449 and iPhone4s 16GB from RM2199 to RM1799.