1) Brand strategy
Brand is the identity of a product, sign, symbol or design and how it describes to key points like customers, staff and partners. Developing a brand strategy can be one of the most challenging steps in marketing plan process. It plays a vital role in creation of company's identity.
Samsung sets up its branding strategy by Chairman Kun Lee who planned to originate universal program to make Samsung to be an international brand in 1996. The blue background was designed to be an elliptical shape which gives an impression of modernization and advance. It is determined to agree that Samsung has succeeded in the development of its brand logo. Samsung has clearly proved that it has driven on the right track as the brand is now widely well known around the world with its reputation of global electronics brand. A company must first determine its branding strategy and establish its position or it will not be able to build a strong brand identity.
As this Smartphone is introducing by Samsung, brand name “Samsung F-Trust” is given. The “F” stands for Functioning which means the product trust will bring out an amazing function no matter external or internal function. For the external, the smartphone can be bend, roll and twist according to users favorites. The smartphone is not easily broken when fall on the floor. For internal function, the smartphone is designed with dual screen which have both front and back LCD screen. All basic function is maintained. Having not only the front screen for camera taking purpose, our new design smartphone at the back ensure users will always be framed exactly the way they want. Besides, we also come out new design of wireless charger. Wireless charging is simple and you just need to plug in the charging plug and switch on your smartphone's Bluetooth then your phone will be charging without joining the charging cable.
2) Brand Personality
Brand personality is the way a brand speaks and behaves. Brand personality is used to make the brand strategy lively. Brand personality indicates the kind of relationship a customer has with the brand. It is a means by which a customer communicates his/her own identity. Samsung F-Trust is a product that we wish to create a unique user personality of our brand to attract more customers. The main personality that we will focus on is about creative and innovative. We also want to emphasize on a convenient and flexible lifestyle with the product that combine all the functions into one.
3) Product Classes
The definition of product classes is group or range of products that may serve as substitutes for one another depending on how narrow or broad is the definition of that certain product. Product classification can be divided into two classes. There are consumer products and industrial products. Samsung Smartphone is counted under consumer product. Consumer products are products bought by final consumers for personal consumption.Consumer products are including shopping products, convenience products, specialty products and unsought products. Samsung Smartphone is categorized into shopping products. Consumers will spend sufficient time and effort in gathering information and making comparison of brand, price, quality and others when making choices to buy or not to buy Samsung smartphone.
Promotion means activities that communicate the merits of the product and persuade targeted customers to buy it. The promotion that consists of the specific blend of advertising, public relations, personal selling, sales promotion, and direct-marketing tools that the company uses to communicate customer value persuasively and build customer relationship is called as promotion mix or marketing communication. We can use sales promotion to increase sales of Samsung F-Trust product.
Advertising can be defined as any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor. Samsung uses mass media in many ways to advertise the new product such as television, radio, newspaper and others. In addition, we also deliver the advertising message to consumers through social network which is more effective and yet wide.
New Straits Times
Sin Chew Daily
Advertisement of Samsung F-Trust
Nowadays, many companies are creating dialogues with consumers via their own or existing websites. To supplement their marketing campaigns, companies now routinely post their latest advertisement on websites. Samsung uses social networks in different methods such as facebook, twitter and so forth. Samsung is going to create a new Facebook page for Samsung F-Trust to post regular updates about the new product and let customers to give feedback and suggestions in improving this new products business .
Besides, Samsung creates a creative video to introduce Samsung F-Trust and promote it through Youtube. Inside this video, we will show the new function of smartphone to attract the customers. We also use Google Adwords, one of the Google's advertisement tool to let customers search for the business location of Samsung F- Trust. With this method, we can boost our product information .
2) Sales Promotion
Samsung advertises the Samsung F-Trust through sales promotion. This sales promotion consists of short-term incentives to increase in sales of a product. Festival season promotion is a way to promote Samsung F-Trust. It is a way to encourage consumers purchasing our Smartphone during festival season. Our targeted festivals promotion are such as Chinese New Year, Hari Raya, Deepavali and Christmas Day. During this seasons, customer will get discounts when they purchase our Samsung F-Trust smartphone.
In addition, trade in program also will be organized annually so that customer that wish to change their phone can buy our Samsung F-Trust smartphone. This program only limited for Samsung smartphone. Although this might seen as weak promotion strategy, but it very helpful to help us achieve one of the marketing plan objective which is to increase market share in the Smartphone market.
3) Public Relation
Public relationship is one of the main aspects that should be focus on for sustainability of a company. In order to maintain public relationship, Samsung company applied sports marketing. Sports marketing is building a highly identified, passionate fan base such that fans, sponsors, media and government pay to promote and support the organization for the benefits of social exchange and personal, group and community identity within a cooperative competitive environment. Samsung's sports marketing has expended into international competition such as Asian Games, Paralympics, Youth Olympics. Through this strategy, Samsung can introduce Samsung F-Trust smartphone in international stages and get the attention from them.
Besides, Samsung also has sponsored some college and university event or competition as a way to maintain public relation. Through this way, Samsung can introduce the new product to them like Samsung F-Trust is a new product that will focus more on young people. At the same time, road show will be organized to promote and explore “Samsung F-Trust” at some shopping mall such as Mid Valley, Low Yat Plaza, One Utama, Sunway Pyramid and Queensbay Mall. These shopping malls would have lots of potential customer.
Place includes company activities that make the product available to target consumers. This strategy would be very important aspect as it helps to relate customer to company. Smartphone producer in every country will have their own distribution of channel. Samsung product especially Smartphone will reach to our consumers through distributor.
Channels of Distribution (Place)
A place also is a distribution channels determine the sales of any company and Samsung Company has the best distributional channels that have resulted to increase in profit levels of the company. The immediate customers of Samsung are shopping mall and handphone service centre. Samsung needs to maintain a strong relationships with distributors to secure the availability of Samsung smartphone products in market. This is to avoid the shortage of stock in market. If the issue of shortage of stock in market occured, this directly will affect Samsung company's image followed by the decrease in sales. Samsung Company will also selects its dealers carefully who can give their highest coordination with them. Samsung is a global brand. It has many dealers in this world including hiring dealers all around the nations and regions also help in generating interest and increasing sales. “Just In Time” (JIT) is an approach of continuous and forced problem solving via a focus on throughput and reduced inventory. This strategy can be applied by Samsung Company to improve quality of service.
Price strategy is a method adopted by a firm to set its selling price. It usually depends on the firm's average costs, and on the customer's perceived value of the product in comparison to his or her perceived value of the competitor products. Smartphone market is very penetrating competitive in pricing and also function. Samsung is never behind in it. Samsung always proceeds to study new functionality that fulfill and satisfied customer wants and needs.
1) Price Objective
Before launching of Samsung F-Trust, the things we need to do is to define the pricing objectives in order to determine the optimal pricing. To maximize quantity of Samsung F-Trust is our pricing objective. As Samsung F-Trust is a newly launched smartphone product so maximizing quantity is important to create awareness of the new product in our targeted market. In this case, penetration pricing pursues the objective of quantity maximization by means a middle price.
2) Pricing Methods
This pricing strategy adopted by Samsung F-Trust is because it is a new product which will enter a market that already have a lot of competitor. To stand out from this competition and attracting our market, it requires quality product in a middle price. Therefore, Samsung F-Trust will set the price in middle price which will be economical, affordable and attracting wider market.
Price discounts will be given to Samsung F-Trust distribution channel members which is retailer and end users which is our target market. Quantity discount will be given to our retailer in order for them to purchase in a larger quantity to display on their retail store for selling purpose. Quantity discount is able to strengthen the business relationship between Samsung and its retailers.
Promotional discount is a short- term discounted price offered to stimulate Samsung F-Trust sales. Promotional discount like lucky draw, rebate and free smartphone accessories will be provided. The purpose is to attract our target market and get the attention of consumers.
Seasonal discount based on the time that the purchase is made and designed to reduce seasonal variation in sales. Seasonal discount also provided to end users. For examples, discount will be given during company anniversary so customers can buy our smartphone at a lower price.
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