The Samsung 55-inch OLED TV (model KN55S9C) is a new TV technology meant to push LCD/LED and plasmas TVs to the sidelines. It has all the pluses of plasma and LCD/LED technology. It also combines the deep blacks, powerful contrast and unlimited viewing angles of plasma TVs with the image brightness, ultra thin design. It also has an energy efficiency of LCD sets that utilize LED backlights. It is the best all-around TV performance ever seen so far because of its good OLED picture quality. This is so because it has spot-on colors and incredibly deep blacks that make the images pop. Meanwhile, Samsung 55-inch OLED TV (model KN55S9C) has gently curved screens designed to form an immersive, panoramic effect. This TV set has the best 3D performance of any TV ever seen with full 1080p resolution and true ghost free- images. Therefore, the first impression of Samsung 55-inch OLED TV (model KN55S9C) indicate it is a game changer TV set.
Targeting and segmenting the audience
The target market for Samsung 55-inch OLED TV (model KN55S9C is active consumers ranging from young to old. These active consumers represent a demographic group of successful persons and well educated such as married, single and raising families. The company targets individuals with income ranging between $80,000 and $140,000 annually. Although, these consumers may have a comfortable income, they are price conscious and consistently look for value in their purchases. Therefore, the distinguishable features of Samsung 55-inch OLED TV (model KN55S9C) make it valuable. Samsung targets all consumers in international markets regardless of their age, but who have active lifestyles. The company also targets the political parties because they fit the industry’s reality and demand.
The market segment will focus on delivering a powerful customer value proposition in a niche market. The main points of Samsung 55-inch OLED TV’s strategy are to focus on target segments that are aware and understand price and willing to pay an affordable price for the product. Samsung 55-inch OLED TV is looking to provide local customer and surrounding area a new choice of a TV set. The TV focuses on meeting the needs of middle class and upper class customers, with distinguishable lifestyle. Similarly, the market segment the company is focusing is highly fragmented that will sustain the new product. Since the role of the business in the market is to search for a competitive edge and achieves customer’s need than the competitor. Therefore, Samsung 55-inch OLED TV is in a position to select a position of competitive advantage based on its core competencies.
Media Choices and Plan
The Samsung will utilize various forms of marketing communication as an effective method to reach a targeted market and create awareness of the product. The use of appropriate media channels will ensure the company remains informed of the current industry marketing trends in the use of all forms of communications. Therefore, the plan will use media channels such as social media, television, magazines, and newspaper, Radio and sales promotions to advertise the Samsung 55-inch OLED TV (model KN55S9C) in the targeted market niche. These channels will create product awareness in the market.
Therefore, newspaper and social media advertising will be effective for the targeted audience, and will be included in the core positioning strategy. This will raise customer awareness of the audience who want to escape from the traditional view to feel the true scene. The plan will use TV and radio to advertise a sales promotion of the product, which will explain a product’s comparative feature and benefits. The company’s website will define the product message, which will create an association between the product and lifestyle.
Brand positioning is a creative strategy that we will use to attract targeted audience. The Samsung 55-inch OLED TV (model KN55S9C) position itself as “Let the screen be your eyes.” Therefore, the product will attract an audience who seeks to escape from the traditional view in order to feel the true scene. The audience is promised an unlimited viewing angle because the Samsung 55-inch OLED TV (model KN55S9C) has a curved screen, which promote the multiple views. Moreover, applying the competitive strategies such as the benefit of the Samsung 55-inch OLED TV (model KN55S9C) will differentiate this product in the market.
Strengthening the image of the product in consumer's mind is another creative strategy that we will use to attract an audience. Therefore, Samsung 55-inch OLED TV will target the audience segment that weights customer attributes heavily. This is so because the product that attracts enough weight becomes a key customer attribute, and determines the competitiveness. Since the Samsung 55-inch OLED TV has benefits that match the audience expectation, we expect them to react with delight toward that product. Since expected quality, performance, quality and unexpected quality are also the attributes that these customers are looking at the product, Samsung 55-inch OLED TV will capture a wide range of audience. The value of the product matters most for customer purchase decision and their continued use of the product.
Since the customer will go for identifiable products that they know well and for which a clearly identifiable price exists, Samsung 55-inch OLED TV (model KN55S9C) is a new TV technology that meet consumer perception. Thus, the plan will identify a key advantage point for value creation by identification of customer segments that give the highest value of a given set of attributes. Samsung 55-inch OLED TV (model KN55S9C) is a TV set with the best performance ever seen so far because of its good OLED picture quality. This is so because it has spot-on colors and incredibly deep blacks that make the images pop. Similarly, Samsung 55-inch OLED TV (model KN55S9C) combines the deep blacks, powerful contrast and unlimited viewing angles of plasma TVs with the image brightness, ultra thin design. A large crowd of people viewing certain match and in concert will be pleased with its unlimited viewing angles.
The role of the company in the market is to search for a competitive edge and achieves customer’s need than the competitor. Therefore, by analyzing various combinations of price and perceived value, the Samsung 55-inch OLED TV (model KN55S9C) will be in a position to select a position of competitive advantage based on its core competencies. Since Samsung 55-inch OLED TV (model KN55S9C is a new TV set model in the market, it has no competition in the market because other companies such as LG and Sony are yet to release their model with such differentiated features. The brand positioning will enable the Samsung 55-inch OLED TV (model KN55S9C) to attract new customers and reduce the cost via sales volume.
Similarly, we can use focused differentiation because the product is of high value. We will adopt high prices and high-perceived value strategies. Since Samsung 55-inch OLED TV (model KN55S9C) has high-perceived value, it will attract a wide range of targeted customers. Therefore, the Samsung 55-inch OLED TV (model KN55S9C) can use this strategy because the perception of adequate attributes is worth to charge affordable premiums.
When introducing a new product in the market, the budget is required to fund the advertising plan. We will approximate the cost of advertising the Samsung 55-inch OLED TV. This will involve the personnel who will be required to advertise a product. The budget will include the cost of training, marketing staff used to advertise a new product. Similarly, the budget will include the cost advertising new product in the media as well as the cost of direct advertising campaigns. The TV will cost 25 %, magazines 5 %, newspaper 20%, Radio 10%, sales promotions 30 % and social media 10 % of the total amount set to undertake the advertising process. The budget will include the cost of events such as sponsorship and road shows.
Similarly, the legislation cost of advertising Samsung 55-inch OLED TV will also be included in the budgets. The plan will also include the public relations cost in the budget because it is extremely vital in the advertising of the new technology TV set. Since Samsung is a financially stable company, we expect it will finance the cost of advertising this product. Similarly, we expect other contributions from interested shareholders that we will use to finance the budget. Therefore, We expect the advertising of new product in the market to cost about $150,000 because we are certain it will capture a large percentage of the audience.