Making Global Value Chains Work Development

Discuss About The Making Global Value Chains Work Development?

Introduction

The marketplace is a successful platform for the flip-flop phones; especially, Asian marketing and companies like Samsung continuously launch new models of flip-flops to fulfill the demand of the customers every year. The latest offering of the Samsung is “leader 8 flip-flop phone”.

The leader 8 phone is built by usingaluminum alloy and supports wireless charger, a fingerprint sensor, microSD, and a classic T9 keyboard. The user can take the benefit of its dedicated buttons for texting. The leader 8 phone also has two embedded cameras, which are 12 megapixels and 5 megapixelsrespectively. The phone supports snapdragon 821 process and even includes S voice as an alternative of Bixby.This modern smartphone from Samsung sports a double full HD fantastic screen (AMOLED) with a one-touch exhibition up front and an additional one on the flipped sideways.

SWOT Analysis of the product

Competitors analysis

With the growth of the market, there are some more brands those offers the same product and services to the customers. According to the reports last year Samsung sold 69.4 million smartphones which was 31.5 % less than the previously achieved sale. This marked Samsung market presence is dropped. Competitors of Samsung are:

Target group

Samsung already caters to the mobile technology management needs of the professionals, business people, and to the individual. Samsung extended so many customers and reconstructed itself as the top smarphone menufectorer. Samsung leader 8 basically focuses the marketplace who consider samsung phone as ensuring high values as compared with the other brands available in the market (Moon, 2016).

Mission

The mission of the company is to create the modern technology products and services in order to achieve the high growth. Which can be accomplished by the use of most effectual controlling and production procedure.

Marketing and Financial objectives

Marketing is the process of connecting customer and company for selling them various different types of products and services which latter has to offer. By using the robust market plan organization, can also achieve the marketing objective. Marketing objectives for this project are:

• Increase sales of product and services at least by 20% of the current sales.
• Target new customers like college graduate students.
• Create both international and local market for the product using demographic marketing strategies.

Financial management knowledge is the key to attain the financial progress. Financial goals can help the organization to achieve the specific objective to keep the business self-supporting to remain functioning. Here are the financial objectives for the project in order to lead the continued growth.

• Increase the profit margin at least by 10 %.
• Increase cash flow- operative capital by tying up with at least three investors and getting 3/4^th of the investment funds from them.
• Avoid unnecessary cost by making the robust budget plan and reviewing the processes at every step through control measures.

Marketing Mix of Samsung

Samsung is a companywhichhas never offered a product with any significant or observable issues.  This is one of the reasons because of which Samsung truly gained the trust of the customers and have performed well from last many years. Samsung had a status symbol as well as it is known worldwide for their excellent customer service (Taglioni, 2016). With the wide range of products like the washning machine, laptops, and television; Samsung also offers mobile phones to complete the everyday needs of customers.

However, as per the current market scenario, Samsung offered a new flip-flop phone,“Samsung 8” to give exceptional experience to consumers which have been accepted by the customers(Jung, 2014). Samsung 8 is the best mobile phone which supports dual-core processor. It helps to increase the work efficiently with the security and also provides all the capabilities that are needed by a business phone. With the huge battery life phone, it is breaking the record and with the traditional look and design, it looks simple and yet elite to have and use.

Since Samsung offersa wide range of products and thus they use different strategies for the product pricing. Below are some product strategies adopted by the organization for Samsung leader 8product:

• Skimming price: Samsung phone is one of the best phones available in the marketplace. Thus, customers wait for the launch of the new product. Therefore, Samsung uses skimming price offering for the models. Nowadays Samsung leader 8 is catching the attraction of customers. Samsung will focus on to get the high value in the start in advance the competitor catch up.Then, Samsung will gradually decrease the price of Samsung leader 8. As Samsung 8 is available in some countries so it’s price strategy implementation might take some more time as competitors are less likely to focus on the new invention (Samsung leader 8) of Samsung.
• Competitive price: As Samsung has so many competitors in the market it is not feasible to ignore them. Samsung is considered as the best brand but not greater then LG and Panasonic. They can not stick to one strategy for the price of the product. Therefore they also offer the competitive price for the product(Wisner et al., 2014).

Samsung has numerous channels for the marketing of their product such as service and sales, modern retails and distributors, and service dealers. Sales and service centers of the Samsung are key areas for the marketing for the product(Michell, 2010). They are fully engrossed in corporate deals and usually have dedicated stores exclusively for the Samsung products.

The modern retailers like Croma also play vital role in the marketing and selling of the products. As Samsung’s wide range is the prime product for the customer so they are bound to keep the products (Ellinger et al., 2011). There are so many retail chains available in the marketplace which supports Samsung product marketing and selling.

Distributor network is the biggest concept in the world of sales and purchase. Samsung has distributors in several cities those support and distributes the Samsung product throughout the territories(Collins, 2016). To cut short the process, Samsung usually focuses on the distributor and all the products to be sold to the distributors and the theyin turn further sell them to the retailer.

Samsung has unique advertisement approach in this company has established their retail center near the manufacturer, trader, and the merchants. So that they can interact easily and provide the high level of support to the customers. This is the reason they have gained so much productivity in last few years. To build strong distribution network they are also focusing on the pull policy.In this policy, they are attracting the customers by giving so many additional discounts and promoting the product to the high level. Retailers and distribution are providing end to end facility to distribute the products among customers.  

Promotions

By using a single strategy company can not gain the high productivity. So Samsung has to focus on the profile, pull and push all the methods to attain the hight customer support. For this Samsung is focusing on their suppliers those are responsible to deliver the product to the customers. They are trying to build the strong relationship between sales employees and customers which are known as the individual marketing of the product (Rao, 2017).

Digital Marketing Plan:

Samsung using the diverse ways to promote the product and to keep the product in reach of customers. For this company had adopted the advertisement and promotion methods. In the advertisement, approach company uses to promote the product through TV commercials, newspapers, magazines and by the use of the internet. They have also using the billboard to product the product inside the cities. They are placing the large billboards at the location which can easily attract the people going in the city for the day to day activities (Parc et al., 2013).

Samsung also supported the screen promotion method in this Samsung places the screens in the various popular locations of the city to promote the product and its feature. They are also providing the demo od the Samsun leader 8 to the people who are showing interest in phone. People are allowed to use the for 10 minutes to check its feature. 

Implementation of marketing plans

It's always a complicated task to find out the valid marketing plan to present the product to customers and gain their trust (Michell, 2010). To achieve the objective of sales of the product and services Samsung always try to analyze the data which can be used to improve product quality and services. These are the steps taken to implement the marketing plan:

• For the sale promotion of Samsung leader 8 company focused the TV commercial, as commercials are the great medium to reach customers. The amount for the advertisment was almost half ($ 4 billion) of the total marketing plan budget, which was almost 10 % more as compared with the last year.
• Personal selling has significant importance in sells of the product. Samsung used corporate retail stores to reach to the customers. In order to achieve the high selling, Samsung also initiated the process of commission for the salesperson.
• Samsung spends almost $ 2 billion to the sales promotion which includes coupons issuing to exaggerate the sales of the products.
• Distribution network services are used to meet the international market and local market needs. By the use of demographic strategies profit is increased by the 10 %.

Control of marketing plan

• To control the marketing plan company used the customer's feedback, budgeting and shares and market analysis. Below are the steps are taken to control the market plan:
• Data gathering and analysis is done on the monthly and quarterly basis to gather all the customers’ requirement for implementing them into product technology and design. This approach helped in achieving the new customers, which increased the sale of the product by 20 %.
• Key performance indicators are defined for the marketing administrators team to increase the total revenue by 20 %.
• Advanced planning and scheduling (APS) used to track the cost of the product by examining the activities which were affecting the cost of manufacturing of the product. The cost of multimedia advertisement expenses analyzed to maintain the budget of the marketing.
• Return on investment method used to calculate the total revenue of the product is to get the clear view on the investments and profits. While investors always pay attention to the investment returns. The method used to show the personal gains of investing in the business.
• Feedback from the salespersons and managers taken to analyze the status of competitors in the market. 

Action plan to meet marketing and financial goals

To achieve the marketing and financial objectives management used the different strategies like customers feedback, salespersons and managers feedback, APS system implement, return on investment method and demographic marketing strategies. Find below the action plan for the same:

Conclution

With the growing threat, the company should learn to know and adapt to their customers’ view in the competitive market. As per the research, this is not the first company places the idea of the filp phone in the market. Previously they have also launched galaxy 2. As most of the world moved on from the idea of flip phones it can be a failed project. However, leader 8 modern functionality and technology may increase the chance of its survival in the market. As these kinds of inventions can prove flip phones idea is not totally dead yet.

Reference

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