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Marketing Plan

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Marketing Plan

Category: Business Plan

Subcategory: Marketing

Level: College

Pages: 1

Words: 275

Samsung Company Marketing Plan
Samsung Company Marketing Plan
Competition is a major element of any business in today’s business environment. To maximize sales and profit a firm needs to formulate a marketing plan that will guide it in countering competition. Taking Samsung for instance, the company has to consider a number of factors in formulating its marketing. These factors affect the company internally and externally.
First, Samsung company operates in the Personal Computer (PC) industry. This means that technology and innovation are the driving forces of the industry. Based on this fact the company will design and develop products that meet the current tech needs. For instance, phones that have features to read documents and are able to teleconference.
Secondly, internal and external factors for each company are unique. By conducting a SWOT analysis, we realize that Samsung has a strength in producing a wide range of products at a low cost. Therefore, it is prudent for the company to continue producing in large scale to benefit from economies of scale and reach a wide market scope. The company also operates in a highly competitive environment, to gain competitive advantage the company will sell its products at low prices and continue to diversify its product portfolio.
The target market is also affected by political, economic, sociological and technological factors. Samsung company products target both men and women across the world. They can be used by children and grown-ups. The company will list its product online to reach many customers around the globe. The company will also continue to venture into new territories in Africa, Asia and the Middle East hence increasing its sales. Considering the Social and political factors, the company will produce products that are universally acceptable globally.
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