New Product Launch Marketing Plan Part III
Charles Brown, Dionne Flinn, Jessica Hyde,
Colleen Mosquera & Ashleigh-Layne Washington
October 27, 2014
Samsung: New Product Marketing Launch, Part III
Executive Summary and Introduction
Samsung, The South Korean based electronics company, is introducing a new line of High Definition televisions, the Smart TV line of LED, Plasma and 3D with Smart TV technology. Prior marketing plans for the Smart TV have identified the market needs and potential market growth, the target markets and segmentation, the benefits of the Smart TV over competitors’ products, and how Samsung can position itself at the head of the new interactive television landscape. The following recommendations were made to assist Samsung in becoming the Smart TV leader. These recommendations are:
1. Market Needs - With televisions being in the norm, consumers want and also have flat screens, high definition, and internet capabilities on their TVs (Stein, 2014).
2. Market Growth - In 2014 the shipments of Smart TVs has risen from the 84 million in 2012 to 123 million (DeMers, 2013).
3. Competition – the main competition are Sony and LG. Sony will offer the biggest competitive challenge in the international market, especially in its main market of Japan.
4. Product Differentiation - Samsung now offers several televisions in their product offering mix which include the Smart TV feature which are: UHD 4K TV providing 4X the details of Full High Definition, Plasma TV providing incredible contrast and clarity, OLED TV providing True-to-life color and picture quality, and lastly LED TV providing superior color, brightness, and slimness, (Samsung Electronics America, 2014).
5. Target Market – Early Adopters/Innovators, upper middle class to high income male, with an education. Early adopters are looking for products that will have a lasting value beyond the initial marketed value – for a Smart TV they may
References: DeMers, J. (2013, October 31). The top 7 technology trends that will dominate 2014. Retrieved from http://www.forbes.com/sites/jaysondemers/2013/10/31/the-top-7-technology-trends- that-will-dominate-2014? Gerard, M Kotler, P., & Keller, K. L. (2012). Marketing Management (14th ed.). Upper Saddle River, NJ: Pearson Prentice Hall. Lovering, C. (2014). Competitive pricing strategy. Retrieved from http://smallbusiness.chron.com/competitive-pricing-strategy-59220.html. RDmarketing. (2011). Creating an integrated marketing communications plan. Retrieved from http://www.rd-marketing.com/communications-plans.htm. Samsung. (2014). Samsung smart tv – tv has never been this smart. Retrieved from http://www.samsung.com/us/experience/smart-tv/. Samsung Stein, G. (10 January 2014). What consumers and brands really want from smart TV. Retrieved from http://www.clickz.com/clickz/column/2321858/what-consumers-brands-really-want-from-smart-tv. TekCarta. (2013, July 31). Japanese market data. Retrieved from http://www.generatorresearch.com/tekcarta/country-profiles/japan/connected-tv-and-smart-tv/connected-and-smart-tv-japanese-market-data/. World: Smart TVs getting smarter. (2013, January). Asia News Monitor, (), Retrieved from http://search.proquest.com.ezproxy.apollolibrary.com/docview/1269770465?pq-origsite=summon