Posted at 12.31.2018
Samsung Refrigerators is the next largest manufacturing facility on the planet in terms of charging. Samsung Manufacturing unit is within Noida, Uttar Pradesh began its procedure in 2003. It is a enterprise of Samsung Gadgets Korea. It had been the first producer to unveiling frost free refrigerator with 4 celebrity energy efficiency score.
AIM: It seeks to become the globe leading company devoting on human resources and technology to set-up superior products and services.
VISSION & MISSION: It presumed in single eyesight that technology advancement today, Samsung fulfilled the solutions they have to address the obstacles of tomorrow.
The Mission of it is the fact to be the best digital company.
TARGET MARKETTING SEGMENT:
The markets are not homogeneous. Thus a business cannot connect with all the customers in diverse, large or wide markets.
STP (Segmenting, Targeting and Setting):
As one of the world leader in using digital technology Samsung is moving forward in the merchandise development to be able to build a strong romance and full support from the suppliers and customers utilizing their product. The Refrigerators made by Samsung experiences the new freshness utilizing the digital technology and impressive design. Samsung "FRESHTECH" selection of refrigerators is developed which has unique benefits when compared to others that is it offers keeping the freshness and nutrition value of the fruits and vegetables being stored in it. Samsung also start "FRESHTECH ULTIMA" which is the largest '5 Legend' graded refrigerator in the Indian market which can be an eco-friendly product. In addition, it contains 'Cool Pack' feature which is produced by the Company's R&D team in India. The Cool Load up features in refrigerator section, sustains coolness even throughout a power cut/failure and helps prevent food from melting or getting spoilt.
To suit all classes of consumers the Samsung makes comprehensive selection of refrigerators which matches certain requirements and expectations. They have various types of refrigerators like Frost-free refrigerators, immediate cool refrigerators, Bottom refrigerators and side-by-side refrigerators. Here the Side-by-side refrigerators are a premium product which targeted on market it includes huge space to stock different kinds. The Frost free series geared to fulfill the needs of middle income consumers and is also loved by them. The Samsung targeted on lighter pocket consumers with direct cool series which is a basic refrigerator which don't have any partitions. Thus the Samsung is offering pioneering technology which suits all pockets which always develop the customer focused products.
For the sake of aim for marketing the company used the promotional activities which include advertising, pr, immediate marketing, motivates the sales team and sales deals to provide knowledge and information to the customers. Samsung used promotional activity to establish assurance and trust among Indian consumers. It used sales deals to attract new customers, to improve the purchase rates of periodic users and to reward the faithful consumers.
Fig a: Side-by-side refrigerator Fig b: Top Freezer refrigerator
Fig c: Direct cooling down refrigerator Fig d: Bottom refrigerator.
COMPETITIVE BRANDS OF SAMSUNG:
The major competitive brands are LG and Whirlpool. The competition between theses three brands is more because these three brands have great market share. But compare to whirlpool the market talk about for LG and Samsung companies have significantly more than half the market share in India. They not only occupied the marketplace share in addition they earned admiration from the consumers. And it's really difficult for Indian consumer to find the product between the LG products and Samsung Products.
MARKET Show OF 3 BRANDS:
At present the market show of LG is 23 percent where as the market show of Samsung and Whirlpool is 19. 49 percent each. This shows that these three brands as market show closer to one another.
The BEE (Better Energy Efficiency) ranking is whatever is used to know the efficiency of the product.
5 celebrity (highest possible rating)
It runs between 4 and 5 legend rating
5 star rating.
Thus according to stand it says these three are really worthwhile full products and their BEE ranking is also closer to each other thus it shows there is more competition between these three brands.
The prices of different products of these three brands are:
Here in this we can absorb that the minimum amount price of different products in three different brands are not same but very closer to the other person with the same features to get the market talk about and to catch the attention of consumers. Thus we can discover that if the price of the product in a single brand gets transformed then other brands also change the price tag on their products according to the others. It really is only Dominant Strategy.
The three brands do promotional activities like advertising, sales promotions, public relations, direct marketing and motivating sales team in the same manner as you another to get the different categories of consumers and also to get devoted consumers.
The marketing strategies employed by three brands:
Marketing Strategies of Samsung:
a) It really is a market founded management which wishes to strengthen the range of kitchen appliances.
b) It wants to attain the digital control by presenting the digital products.
c) It setup a study & Development center at its stock in Noida.
Marketing Strategies of Whirlpool:
a) It found out the customer associated refrigerator with glaciers and chilling.
b) It merged two results to create glaciers campaign and hummable ice.
c) It will try to receive the foothold in the highly competitive market place by using Push Strategy.
Marketing Strategies of LG:
a) To reach the customers the company appointed the more distributors and Members.
b) It setup the company occurrence in naval canteen and section of the Military.
Thus each company uses different marketing strategies to attract the customer awareness by its branding.
TANGIBLE AND INTANGIBLE FEATURES:
There are some important brand Tangible and Intangible features utilized by the customers to decide which brand to purchase are:
a) Temperature adjustment.
b) Power usage.
These are some features considered by consumers before investing in a product.
Brand Image of Samsung:
Samsung has generated a strong brand name utilizing the most advanced technology techniques in developing the products, world class designs and latest enhancements. To expand its brand image, Samsung used a design competition to excite customers. To boost the brand image of Samsung, it manufactured refrigerators which are suited to all types' customers to fulfill their own needs. Samsung used promotional activity to establish assurance and trust among Indian consumers. It used sales special offers to attract clients, to improve the purchase rates of infrequent users and reward the dedicated consumers. Samsung who is involved in high advertising and brand advertising activities, created a niche in the premium portion customers.
Samsung used such activities in order to achieve 2 benefits mainly.
Firstly it emphasizes Samsung's strong connection for the brand building by hooking up medium income and medium high income customers to the brand.
Secondly, Samsung reinforces its brand image by using latest technology for its latest impressive design products that will attract the customers.
In this market of top quality refrigerators, these progressive marketing methods requires the brand image which offers great advantages to get suffered with long term brand collateral. As consumers understands which brand to choose for the right product they can surely notice the good and growing top features of Samsung refrigerator. Samsung Refrigerator has different kinds of designs that will benefits the requirements of the consumers. If the consumers need a refrigerator for normal storage purpose or for just about any special function Samsung is one which wins the hearts of most form people. Samsung refrigerators offers special freezing feature which retains the coolness for the meals and beverages. These refrigerators ensures whatever you put within it will be preserved and have its freshness. Samsung makes the refrigerators in such a way which automatically makes ice for the drinks and included additional switches for adjusting the inside temperature. In addition, it ensures that all the merchandise are tested once before it extends to the consumer. All of the needs and requirements of the buyer are fulfilled in terms of power supply to storage capacity by Samsung products.
Samsung also concentrates on the technical support as as it pertains to refrigerators the repair and maintenance issues, consumers ought to know how long the product will sustain with good performance. The tech support team number is available 24 hours per day for catering the customer's needs. This is the essential aspect Samsung is concentrating on when the refrigerators aren't functioning well then the technicians can be sent to the consumer's premises and work on the condition. Customers will be provided a end user manual about the basic features of the refrigerator during purchase. Consumers will be very convenient in using the Samsung products as they mainly give attention to quality and security.
The Major competitors of Samsung are Whirlpool and LG. Whirlpool is the best brand for consumer durables in India. Whirlpool brand and image always speaks about its commitments towards quality of these products. Whirlpool has grasped the Indian market so well and has been releasing the products based on the desires and needs that meet the consumers. Whirlpool segmented the market on basis of price and capacity. Whirlpool also has segmented its refrigerators into three sections immediate cool, frost control and frost free.
Whirlpool marketplace is highly based mostly for homes, shopkeeper's etc that is within form of direct cool refrigerators, Frost control portion is for middle class customers and the Frost free section is for top or high class consumers which include people with high income. Whirlpool's prime target customers are mainly house wives. Whirlpool is spending more than Rs. 70 crores only on advertising and campaign with their products.
LG is also one of the market market leaders which as identical market share when compared to Samsung and Whirlpool in consumer durables which uses the most advanced technology in developing their products. LG spends plenty on advertising method as its refrigerators has prearranged a major advertising campaign on red fm for promoting their innovating product " Green Ion Door Cooling" technology. LG also means that all the products are examined once before it gets to the consumer. LG also concentrates on the tech support team as when it comes to refrigerators the repair and maintenance issues, consumers should know how long the merchandise will preserve with good performance. The technical support number can be obtained 24 hours per day for catering the customer's needs. All of the needs and demands of the consumer are satisfied in terms of power to safe-keeping capacity by LG products.
This is the important factor LG is focusing on when the refrigerators aren't functioning well the technicians can be sent to the consumer's premises and focus on the condition. Customers will be provided a end user manual about the basic functionality of the refrigerator during purchase.
Market show of the major brands on the market are as follows
Perceptual Maps of Refrigerators in comparison with Samsung
Perceptual mapping is a method used by the marketers that tries to visually display the perceptions of the clients using their respectable products. Typically the position of product, product line, brand, quality, market show is stated in the perceptual maps. When plotting a perceptual map two dimensions are commonly used.
If we plot the Refrigerators market of India we can identify some brands which can be price and sales. Samsung, LG and Whirlpool are plotted as good deal and high sales, Godrej is plotted as low price and low sales and Electrolux is plotted as good deal and low quality range. Once completed the perceptual map then we consumer can identify where a business could launch a fresh brand at medium price and high quality range.
If we plot the Refrigerators market of India we can identify some brands which derive from promotional activities and market show. Samsung is plotted as high market share and less promotional activities, LG and Whirlpool are plotted as High market show and high promotional activities, Godrej and Electrolux are plotted as low promotional activities and low market talk about and Videocon and Haier are plotted as low promotional activities and low market show good deal and poor range. Once completed the perceptual map then we consumer can identify where an organization could which has been high market talk about predicated on quality of product.
Samsung has created a strong brand by using the latest technology techniques in producing the products, world class designs and latest inventions. To increase its brand image, Samsung used a design competition to excite customers. To boost the brand image of Samsung, it made refrigerators which are suited to all types' customers to satisfy their own needs. Samsung used promotional activity to establish confidence and trust among Indian consumers. The Refrigerators produced by Samsung experiences the new freshness utilizing the digital technology and innovative design. Samsung "FRESHTECH" range of refrigerators is developed which includes unique benefits in comparison with others that is it offers keeping the freshness and nourishment value of the fruits & vegetables being stored in it. Samsung also unveiling "FRESHTECH ULTIMA" which is the largest '5 Superstar' rated refrigerator in the Indian market which can be an eco-friendly product. The Major opponents of Samsung are Whirlpool and LG. Whirlpool is the most recognized brand for consumer durables in India. Whirlpool brand and image always talks about its commitments towards quality of the products. Whirlpool has known the Indian market so well and has been releasing the products in line with the desires and needs that satisfy the consumers. LG and Samsung concentrates on the technical support as as it pertains to refrigerators the repair and maintenance issues, consumers should know how long the product will maintain with good performance. The technical support number can be acquired 24 hours per day for catering the customer's needs. This is the important factor Samsung is focusing on when the refrigerators aren't functioning well then the technicians can be delivered to the consumer's premises and work on the condition. Samsung, LG and Whirlpool are plotted as good deal and high sales. Samsung is plotted as high market show and less promotional activities, LG and Whirlpool are plotted as High market share and high promotional activities.