Marketing Strategy Of Samsung

Introduction At Samsung our mission statement is “inspire the world, create the future” (Samsung). So Samsung is coming out with a new product called the RobotMop. This product is an extension of our robot vacuum line. We will be determining our external market environment, competitors, customers, and SWOT of Samsung. We will also be determining the organization 's Marketing Mix and its Target market such as: Product plan, Place or Distribution Plan, Promotion Plan, and Pricing Plan. This marketing plan will help ensure the success of the innovated product, RobotMop. The first step is evaluating customers’ needs and the external environment. Here in the United States of America, the economy is market-directed. This is where customers have the main vote for what is produced

To determine the strengths and weakness of Samsung, the resources and capabilities of Samsung must be assessed. The opportunities and threats is a combination of customers’ reactions, competition, and external market environment. Samsung has many resources and capabilities. The company is always on the front line of new technology. The company has the financial strength backing for the new product and facilities to product the product. We already have the robot vacuum line that is doing well. So Samsung has many strengths and few if any weaknesses. The company’s opportunities are a large customer base, who prefer Samsung brand over others. The economy is still rising from the last recession, so the external market environment is right for releasing the RobotMop. The opportunity type will be product development, since we know the present consumers market needs from our robot vacuum. The main threat to the new product is the competitors. Competitors will create a similar product not long after we release our Samsung robot mop. So we will develop a differentiation marketing mix to insure the success of our