What is Samsung’s Marketing Strategy?
What is Samsung’s Marketing Strategy? Samsung is a global brand and one of the world’s largest cell phone manufacturers. Its growth is due to many reasons. For example, it’s a marketing mix that can be useful for your company if you are in Canada.
However, it is worth noting that this market-leading brand has focused on product innovation, price focus, and other elements that have allowed it to succeed. Let’s see in this post how the Samsung brand has carried out its marketing strategy to continue its global recognition in the technology industry.
Samsung Marketing Mix Strategy
Do you want to know what Samsung’s marketing strategy is? Here is what you need to know:
Mixing is one of Samsung’s most important marketing strategies. The brand does continuous technological research to develop the best products for its customers. That is why it focuses on offering various products in different categories.
Indeed, the versatility of Samsung in its offers causes the products to be classified into five categories specifically:
Samsung is one of the leading cell phone manufacturers in the world, especially smartphones like the Samsung Galaxy. Also, in this category, we find portable devices, tablets, accessories, and more.
Samsung has offered successful solutions related to Samsung TV. Additionally, it has video and audio solutions and other valuable accessories. Furthermore, it currently has a portfolio of digital cameras.
In this category are products such as washing machines, refrigerators, and kitchen appliances. But this is not all, since there are other electronic products such as air conditioners, vacuum cleaners, and other utility products.
Memory and Storage
This company has also earned its recognition through memory and storage products. This category includes memory cards, USB flash drives, portable SSD, etc.
IT computing is usually the favourite category of this technological giant’s clients. The company also has monitors, computer peripherals, and laptops, among other products.
As you can see, Samsung is a leader in product innovation as it offers multiple categories to its audience to meet their needs.
Samsung’s sales go directly to retailers and service providers. It is a strategy where service dealers take responsibility for corporate sales.
Likewise, retailers that sell technology products compulsorily include Samsung products in their offers because it is a world-famous brand.
The company also distributes its products through companies located in a specific location for later distribution to other places. Finally, we cannot fail to mention that Samsung offers its products on e-commerce platforms and directly from its website.
Samsung’s pricing strategy is interpreted by two schemes, considering that it is a leader in the smartphone market and the computer and home appliance market.
As we said at the beginning, the brand has two pricing schemes. There is a pricing strategy based on competition, as it has not yet become a leader in other product categories. Samsung is a trustworthy brand in all its varieties. However, you must apply your competitive prices to many market competitors. However, it is not the only brand with different product brands, so it must defend its position in the market.
Likewise, Samsung uses a skimming pricing policy for its pricing strategy. When it launches new products with different storage capacities, it usually sets a higher price for them. Similarly, when a competitor offers a smartphone with similar features, Samsung lowers its cost to avoid shrinking its market share. As a result, the company’s annual revenue is more than $210 million.
Promotion and Advertising Strategy
This strategy is considered a pillar within the company. Advertising is the best way to promote its positioning and attract potential customers. That is why its new products get advertised in newspapers and digital media.
Likewise, they have invited celebrities to become ambassadors of their brand. Promotion is an excellent strategy to take advantage of these celebrities’ followers. Posters and billboards are placed on the roads, using different promotional tactics to encourage customers to buy their products.
But this is not all, as Samsung has a strengthened online presence in its social media and advertisements. This brand has achieved fame for its products’ quality and the experience it provides to its users. However, to give more life to its promotional strategy, it sponsors important events and offers discounts at national festivals.
Do You Need a Marketing Strategy Like Samsung’s?
You may need a Samsung marketing strategy, or it may inspire you to create and apply marketing to your business model. Although we are talking about a technological giant, your business can also achieve an important position on the internet, and at BluCactus, we can help you.
We have marketing specialists at your disposal to design an action plan that suits your needs. If you are a business owner, our advice will help you improve traffic to your website and increase sales through digital marketing.
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