Marketing strategy assignment

Marketing strategy assignment Words: 2294

Also, with amount population of 610,000,000 people, SE Asian is a great market for assisting of SSW and Samsung Galaxy Gear Schismatic. Primary research Primary research methods on marketing research project are divided into qualitative research and quantitative research. Additionally, when using Internet for the main research method on secondary research, focus group, in – depth interview and survey are great ideas for primary research in identifying consumer’ s attitudes and opinions. Firstly, focus group includes unstructured or semi – structured discussions between toreador and a group of clients.

Also, leaders of SSW and Samsung Galaxy Gear Schismatic should arrange a group from 6 to 12 people to discuss about problems from customers sides such as ” Which advantages SSW or Samsung Galaxy Gear Schismatic bring for you ? ” or ” The price is suitable for SSW and Samsung Galaxy Gear Schismatic “. For instance, SSW must invite PIP customers from many Sony Shops to its head office and design question guide about Design, Performance, Hardware or Price to gain consumer’s attitudes and opinions. In the small meeting, customers will give their own points of view about SSW with freedom discussions.

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Besides that, leaders of SSW can solve those important questions immediately through face – to – face with their customer. Secondly, in – depth interview is one of major methods of primary research that companies should use on their marketing research. Moreover, it consists of interviewing of clients individually for one or two hours about a topic. For instance, SSW and Samsung Galaxy Gear Schismatic will organize small meetings between leaders and a group of consumers to discuss about any topic.

Next, questionnaire is designed to complete by customers to get their attitudes and opinions. Thirdly, both SSW and Samsung Galaxy Gear Schismatic should choose face – to face interview to get consumer. For instance, both companies will invite PIP guests to their head office and gain information through their customers’ s satisfaction. In particularly, questionnaire is designed as below: Customer Satisfaction Survey for SSW Please circle the number that corresponds with your level of argument Strongly disagree: 1 Disagree: 5 Strongly agree: 10 1.

Overall, I am satisfied with with service of SSW. 2 3 4 5 6 7 8 9 10 2. The design of SSW is suitable for customers. 3. Using SSW bringing many convenient and helpful. 4. The price of SSW is appropriate for each class in society 1 8 9 10 5. I would recommended SSW for others Comment 2 3 4 5 6 7 Additionally, sampling process is divided into three major methods such as simple random sampling, stratified random sampling and quota sampling through population.

In other words, with using focus group or in – depth interview, SSW and Samsung Galaxy Gear Schismatic choose stratified random sampling because amount of guests is approximate 8 – 10 people, broken down into company size and a random sample is drawn for each group. Advantages and Disadvantages of methods: Besides that, using reliable websites to provide consumer’ s attitudes and opinions gets both advantages and disadvantages. Firstly, with advantages, researching information on website is faster than most research methods because of wider range of media such as books, articles or essays.

In addition, website allows to entire libraries online reliably and access to articles & databases from multiple libraries easier search terms. However, the research method brings some disadvantages such as paying fee by credit card for getting full information, discouraging use of website nice plagiarism increases if posting on turning. Likewise, information on Wisped can be made up again without checking carefully. In addition, focus group has also both advantages and disadvantages.

Likewise, one of its advantages is providing deep insights of consumer motivations and behavior that group members can ” feed – off” each other and show ideas easily. Another major advantage of focus group is low costs because of requiring little to no technology and carried out in Just a few hours on one day. Similarly, focus group has chance to get interactive feedback as moderators can acknowledge the content from exponents and they can pick up on emotional responses with a variety of feelings easily that do not occur through a structured questionnaire.

On the contrary, the weaknesses of the focus group are that moderators have to get good skills so as to give accuracy of the results, sample size is small and sometimes the conversation can be swayed into one – dimensional feedback through the moderators and consumers with strong influence. Also, populations is so vital in focus group because it is difficult to make generalization Additionally, advantages and disadvantages are revealed clearly on in-depth interview. In particularly, advantages are that leaders of both companies can gain honest answer and viewpoints because the topic requires individual treatment.

Also, with face – to – face interview, leaders will control of customers who complete questionnaire. However, interview time is one of drawbacks of in – depth interview when it draws from important duties as they are more expensive than other methods. Sometimes, the presence of an interviewer can cause bias and lead to the misreporting of sensitive information. As a result, face – to – face interview brings many benefits such as high of using open – ended questions, ability to probe and use f visual aids.

However, it gets some drawbacks like wasting time of customers since they have to spend their working time to visit to the head office and fill in questionnaire. 2. Formulate and evaluate an integrated marketing mix for the Sony Schismatic 2 product. This must include consideration of product, place, price and promotion. Your response to this question should contain reference to appropriate marketing concepts and models. A) Segmentation: Market segmentation is defined as ” the identification of individuals or organizations with similar characteristics that have significant implications for the determination of racketing strategy “.

Furthermore, with SSW product, segmentation is divided clearly on table below: Variable Examples Behavioral Benefits sought Convenience Price Design: small Quality Purchase occasion Special occasions ( New Year, Christmas,… ) Gift Self – purchases. Purchase behavior Innovators ( young and middle class ) Brand – switch ( customers can choose Samsung Galaxy Gear Schismatic ) Usage Light Perceptions, beliefs and values Favorable Unfavorable Cryptographic Lifestyle Trendsetters Personality Extroverts Adventurous Technological Profile Age 18 – 25,26 Gender Female Life – cycle 35 and 35 – 40 years old.

Young single Young couples Middle – aged empty nesters Social class Middle Young Terminal education age 18,21 years Income Average income Geographic US – specific Asian countries: Japan or China Indian market Stereographic US regions, Indian regions with basing on income, age profile, language and location. Perceptual Mapping The next step in improving an effective marketing strategy is to clearly position a good and service offering in the marketplace. In addition, major competitor of SSW in the market is Samsung Galaxy Gear Schismatic. Therefore, SSW must create preferential advantages to get many customers’ s needs.

For instance, SAWS quality of battery is better than Samsung Galaxy Gear Schismatic. In other words, time for battery of Gear is only 25 hours while SSW is still 7 days. Therefore, in this comparison, SSW brings many benefits for saving electricity fee of clients. Moreover, price is one of important factors having influence on consumers’ s wants. Whereas price of SSW is $220 in US – market and 14. 000 INNER in Indian – market, Samsung Galaxy Gear Schismatic is sold in US – market with $299 and Indian – market with 21. 000 INNER. Thus, SSW is giving the target customer better than the competitor is offering. ) Evaluate The marketing mix is defined by ” a business tool used in marketing and by marketing professionals. The marketing mix is often crucial when determining a product or brand’s offer, and is often synonymous with the four AS: product, price, promotion, and place. ” Product Branding and corporate identity management First and foremost, product is the first element creating for marketing mix. Also, brand is so important because it gives a product distinctive identity through the creation of a name and design. Moreover, Tokyo-based Sony Corporation is owner of SSW.

It is a leading global innovator about communications, audio and information technology products for both the client and professional markets with products such as phones, tablets, Expire and SSW. Therefore, in the market, Sony is uniquely positioned for leading electronics and entertainment company in the world. Secondly, co – branding has two major forms like product – based co – branding and communications – based co – branding. In other words, advantages of SSW when using co – branding are reducing costs and risk of purchase will be lower for both nonusers and distributors.

However, limitations are poor performance, centralization of core brand and loss of credibility of brand name if stretched too Services marketing Additionally, leaders of SSW have to acknowledge important characteristics of service such as intangibility, inseparability, variability and permissibility to meet customers’ s needs and wants. For example, with intangibility, service of SSW must be maintained in the best way through post – purchase service. Likewise, after buying SSW in store, guarantee for it is clearly and fast. Thus, clients will get satisfied for this product.

Moreover, for inseparability, production and consumption takes place at the same time and to improve inseparability, SSW must select, training and reward of staffs well to avoid conflicts between customers and staffs. Also, service quality must be varied since to support for SSW. For instance, SSW should create a website to soups new application and software for updating rather than going to the store directly. Finally, services marketing mix includes 7-As like Product, Price, Place, Promotion, People, Physical evidence and Process.

Managing products: product life – cycle, portfolio planning and product growth treatises Definition of product life – cycle: ” A four – stage cycle in the life of a product illustrated as sales and profit curves, the four stages being introduction, growth, maturity and decline. ” In addition, with SSW, product life – cycle is described as below: Introduction Growth Maturity Decline New product 0 sale growth is low Product adoption is monitored through speed Price: high -Faster sales -Profit growth – Profits: decline 0 latter stages of growth. Price: lower – Sales: peak – Product is differentiated – Price: lowest – Sales : fall -Profits: decreases Reducing demand for the product. Price: rising. Retrieved from http://www. Barbarians. Com/Barbarians/2012/9/12/how-to-bring-your- product-launches-to-new-heights. HTML Besides that, some advantages of product life – cycle are developing new products in the market, warns against the danger of growth, reducing time to market and increasing full price sales. On the contrary, disadvantages of product life – cycle are fads, classics and unpredictable through duration of the stage.

Also, it provides misleading objective and strategy prescriptions. Pricing strategy Fishily, demand curve below shows the relationship between the quantity demanded and price levels. In other words, if price of SSW increases, amount of purchasing from customers will lower since they tend to find substitute products such as Samsung Galaxy Gear Schismatic rather than continuing to buy. Therefore, if price is decreasing, demand will increase. For instance, if price of SSW is lower than $220, customers will purchase products for using.

Also, the demand for SSW in this case is price elastic. PA> Pl and Q Promotion Promotion has advertising, personal selling, sales promotion, direct ma publicity in promotion mix. Moreover, leaders must advertise SSW into through media. Advertising is the first choice for leaders since it provide widespread and convenient. Additionally, SONY also advertises its prod targeting many programs such as sports and it has its own channel an Handel. Secondly, SSW uses direct marketing for promotion to encounter to respond through providing feedback by telephone or direct email.

T promotion is a marketing discipline that incentives provide a quick boo sales levels generating a specific, high response rate for a product or s Advertising Direct marketing Sales promotion Advantages – Television: strong communications in society Reaching wide range of Close interaction – Targeted populations – Good repertoire – Quick boost to sales -Driving customers decision making -Increasing world of mouth Disadvantages – Expensive – Time consuming – Impersonal Response rate: slow – Limited reach to audiences – over promotion. People can be put off because of hearing too much. Place Distribution Producer 0 Agent 0 Wholesaler 0 Retailer 0 Consumer SONY is global company in the world; thus, it must enter foreign markets such as US, Asian or Europe. In addition, producer of SSW sell the products to agents from other countries. Afterwards, the agents will sell for wholesalers and gain commission on sales. Moreover, SONY uses multiple channels to distribute SSW consisting of SONY centers, electrical goods chain stores, catalogue shops and online retailers such as Amazon.