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Samsung Target Market And Segmentation
Market segmentation : Market segmentation is the technique through which company tries
to understand the target market and target customers . Segmentation is very necessary to
recognize the customer differences as different characteristics are associated with each
consumer response. On the basis of the target market and target customers a company tries to
position its brand for the target market. The major segmentation variables are – geographic,
demographic, psychographic and behavioural segmentation.
Geographic Segmentation-
Nation or country: INDIA
City or metro size: -Tier 1 cities - Tier 2 cities
Density: Urban & Suburban
Demographic Segmentation–
Age:- 18 +
Family size :- 1-2, 3-4, 5+ members
Gender: Male & Female both
Income :- 25000+ and upper
Social class: Upper middle class, Upper class.
Psychographic Life style – sports oriented, enthusiastic,
Personality- Gregarious, Outgoing, Ambitious
Behavioral Segmentation –
Loyalty status –Medium , Strong
Benefits- Quality, Service
Readiness stage- Aware , Interested, Desirous ,Intending to buy
Three most important competitors brands:
The three most important competitor brands of SAMSUNG LCD TV are listed herein under:
Sony, L.G & Videocon.
Sony is a Japanese company, its headquarters at Minato,
Tokyo, Japan. It is World’s fifth largest media
conglomerate. The size and the scope of the company is
almost unmanigible. The company name was changed to Sony Corporation in January, 1958.
The products under this company are electronics, product for the consumer and professional
markets.
LG Electronics is a second largest conglomerate Korean company, its headquarters at Yeouido, Seoul, South Korea. It was originally established in 1958 as GoldStar, produced Korea’s 1st Radio, TVs, Refrigerators, Washing machines and ACs. In 1995, LG group was a merger of two Korean companies, Lucky and GoldStar, and became LG Electronics. LG was the first Korean company to enter the plastic market, The products under this company are electronics, chemical and telecommunication.
Videocon is an India-based, its headquarters at Aurangabad, Maharashtra, India. Company originally founded in 1986 as Adhigam Trading Private Limited in Gujarat but in 1991 the name of the company was changed to Videocon Leasing
and Industrial Finance Private Limited but in same year the “Private” word was deleted due to a resolution. The name of the company was again changed to Videocon Industries Limited by a resolution in 2003. The company is primarily into manufacturing & distribution of electronics products.
Source: -
www.emtworldwide.com_global_showimage.ashx_Type=Article&ID=23391.mht
The three most important tangible features that customers use
to decide which brand to use:
Price - Price is one of the highly considered tangible features that customer use to
decide which brand they should use. As we know that price is the factor which sometimes
becomes very critical to decide which brand to use , many of the times customers try to
evaluate by themselves the benefit versus price analysis and on that basis they decide that
which brand fits in their budget
Style- Style describes the product’s look and feel to the buyer. Style has the advantage of
creating distinctiveness that is difficult to copy. On the negative side , strong style does not
always mean high performance, before buying a lcd TV a customer pays attention its style
too and tries to compare the different brand on style basis also and if talk about the LCD tv
market in India Sony has positioned itself on the strong style front in the market.
Features- Feature of the particular model of the brands do value a lot at the time when a
customers consider the brand for the use. Most products can be offered with varying features
that supplement it’s basic function. A company can identify and select appropriate new
features by surveying recent buyers and then calculating customer value versus company cost
for each potential feature, how long it would take to introduce each feature, and whether
competitors can easily copy it .In the present Indian lcd tv market feature wise Samsung is
giving a satisfying combo of features ,price & quality. Samsung is the market leader in the
LCD TV market in India and being a market leader it becomes Samsungs need to innovate
new ways to woo the customer each time. While buying a LCD TV for home a customers do
compare the features of the different brands in the same price range. Therefore its very clear
that brand features are one important aspect which is considered at the time customer go for a
brand.
The three most important intangible features that customers
use to decide which brand to use:
1. Aesthetics.
What glistens, glows, and takes the consumer’s breath away-sells. People appreciate beauty
in all aspects of their lives, and the aesthetics of a product are an integral benefit. Harley-
Davidson bikes sell more because people perceive them as works of art than because of
economic advantages.
2. Distinctiveness.
Distinctiveness is the next intangible features which customer use to decide which brand to
use because people enjoy standing out from the crowd and prefer products that represent
being outside the mainstream. Products that can be positioned as countercultural, within
acceptable limits, are generally successful in markets.
3. Reliability.
Reliability, though tied to safety and service, is an independent factor. A product or service
that performs consistently is reliable. Reliability is one of the things that consumers take into
consideration when judging products and services. For example, imagine a company that
makes TVs, some that last five years and some that 8 years or more than. Then imagine a
company that makes TVs that all last only five years . The second company would be
perceived as more reliable, even though none of its televisions eight years.
Brand image for the chosen brand and each of its closest
competitors.
Brand Image needed for proper Segmentation:-“A brand is a complex symbol. It is the intangible sum of a product’s attributes, its name, packaging and price, its history, reputation and the way it’s advertise. A brand is also defined by consumer’s impression of people who use it, as well as their own experience.”--David Ogilvy
Aaker’s Model
Brand Essence
ElectronicCooling
Brand Essence
ElectronicCooling
Korean
Quality
Extended
Luxurious
Pride
Basic need
Variety
Fair Price
Core
BRAND IMAGE OF SAMSUNG LCD TV
Samsung’s brand perception in minds of its consumers is very
stylish, great features and high quality . Everything from the liquid crystals
used all the way to the glass in the panel reflects a certain level of quality. 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 the approach is holistic, reaching the world customer. It
created its branding in multiple ways, ranging from traditional
adds to billboards, racing, Olympics games, cricket matches,
marathons, in short wherever it saw the crowd, it communicated
Samsung has positioned itself as a leader of innovation with
affordable price.
Samsung: Kapferer’s Prism
Kapferer’s Prism of Samsung
Physiques: - Young, Vibrant, Quality, Ultra Clear Panel.
Personality: - Stylish, sensational
and modern.
Culture: - International,
Credible, Energy Efficient.
Relationship: - Trusted, First
Preference.
Self-Image: - Inspired by Art, Premium
Entertainment, advanced technology.
Reflection: - Less Layered Image, Revolutionary in
Design.