The consumer tech industry over the years has become way saturated with new companies penetrating the market every now and then. However, Samsung has stood against the sands of time since its inception in 1938 because it gives a lot of emphasis to its research and development centers and it is a leader in product innovation. There are companies that cater to satisfy the needs of the consumers and there are companies that actually create the need itself. Samsung undoubtedly belongs to the latter category. With its excellent product portfolio and constant and persistent innovation, Samsung makes sure that it is always in the minds of its target customers .
The Marketing mix of Samsung:
Pricing:Samsung unlike Apple is built for both masses and classes. They have expensive flag ship models that certainly cater to high end people and trend conscious people. Whereas, they have cheaper inexpensive models that resonate well with price conscious people. Samsung has always built its empire around the concept of delivering feature rich products with reasonable quality and attractive prices.
Network:Samsung does not rely on any one particular marketing and distribution strategy and it has created an entire ecosystem of service dealers and vendors to ensure that Samsung is available at remotest of the region they operate in. For instance, a great supplementary example is Mumbai, India where Samsung has a contract with a single distribution company that channelizes all its services and products.
Promotion: Samsung uses unique advertising strategies with great fan fare and uses diverse ideas and concepts even vivid campaigns to promote its products. Samsung is also known to introduce an array of discounts, freebies, incentives from time to time to attract new consumers and retain the existing ones
Sponsorship:Sponsorship is a great way of promotion as many events are televised and attended by millions of people each day. Hence Samsung actively takes part in sponsorship commitments to enhance their overall visibility in all the aspects of life be it a sport or music program and functions.