Samsung Group is a South Korean multinational conglomerate company which headquartered in Samsung Town, Seoul. It comprises numerous subsidiaries and affiliated businesses under Samsung brand including Samsung Electronic which is the world largest electronic company. It is one of the world’s largest conglomerate with an annual revenue of US$ 220.1 billion in 2010.Samsung has been the world’s most popular consumer electronics brand since 2005 and is the best known South Korean brand in the world. Samsung Electronic has proven to be the one of the most prestigious technology company by launching of the first 3D TV in March 2010 at a New York event and partnered with Dreamworks Pictures and this had a major impact on the market. With the release of this TV, Samsung had dominated the market in North America and Europe where TV makers compete fiercely. According to a market research firm, Gfk, Samsung kept overwhelming No. 1 position in LCD TV capturing 30.8% cumulative market share from January to May 2011
Some of the Samsung competitors are Sony, Mitsubishi, Panasonic, LG and Vizio. For most competitors the model chosen is quite similar to Samsung’s and this will definitely affect Samsung’s sales. The competitors carry out different marketing strategy, for example Sony uses web advertising to promote their product. However, the differences between products can be seen in quality and price.
Samsung primarily chooses to focus on the psychographics and demographics of their customers. It is with information gathered regarding these segments that Samsung can serve their customer better.
In psychographics segmentation, Samsung target market at the early adapters. These early adapters are consumer who immerse in the TV experience or opinion leader amongst peers. With the partnership with Technicolor and Dreamworks Picture, Samsung offering customers the full package for the ultimate home entertainment experience. The individuals Samsung... [continues]
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