Samsung Smart Fridge
CURRENT MARKET POSITION
Target Market Analysis
Laws and Regulations
Current Business Trends
Brand Development Strategy
Public Relations Strategy
Sales Promotion Strategy
Break Even Analysis
This BBM report is written to strategically plan the launch of the new Smart Fridge' The Smart Fridge' is a new fridge with multiple new aspects making it one of the most modern and advances fridges in the world. The product is made by Samsung and has a high potential of becoming the next hype on the fridge market.
By reading this report it will become clear what strategies, obstacles, trends, threats and marketing/ communication tools are needed to make sure this product will become successful. The report contains a full market analysis, different recommendations and a clear understanding on the future potentials for this new innovative product.
1.1 Mission Statement
Samsungs aim is to achieve prominent contributions, to execute their work professionally and to deliver innovative and useful products to their customers. They try to actively participate with their customers so that they can be improving products to meet the needs of their customers. Samsungs philosophy is to devote their people and technology to create superior products and services.
2.0 Current Market Position
Samsung is the number one consumer electronics brand in the world. They are acknowledged as the leader in the digital convergence revolution. Samsung was founded in 1969. They bring in $36.9 US dollars a year in product sales and employ over 75,000 people. The global network of Samsung includes 47 countries. Samsung has the image of strength and reliability in their products and they are also an innovative company which brings up the idea of selling a new product known as the Samsung Smart Fridge. 2.1 Target Market Analysis Customer Analysis
When preparing to produce the Smart Fridge, Samsung defined its target market groups as:
With Samsung's good name in the consumer electronics realm, they have an opportunity to partner with a variety of hotels, restaurant chains and canteens to sell their products to. In the data charts below there is evidence of a number of possible partners and customers.
Name of Hotel
Number of Properties
Name of Restaurant
Number of Properties
This data shows the large extent of two of the target markets for the Samsung Smart Fridge. The tables above only show a fraction of the possible consumers and even then there are thousands of consumer options. Samsung's goal is to form a partnership with at least one of these companies in hope that they will purchase a...
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