Marketing Evaluation Blog

Question: How Marketing Evaluation Helped Samsung to Reach the Galaxy? Answer: Introduction Business evaluation helps to measure the monetary value of a company. The idea may seem straight forward but there are various methods that are involved in determining the net worth of a Company. Samsung had started its business when there were already technological giants like Apple, Motorola, Blackberry were present in the market. Evaluating the market fell under utmost priority for the brand. Samsung has been dealing with a number of electrical appliances but their smart phones are their Star products. https://songmoi.vn/sites/default/files/cac-ong-lon-cong-nghe-doi-mat-voi-nhieu-kho-khan_anh_chinh.jpg?1455232672 Tools to evaluate Samsungs Marketing Plan In order to evaluate marketing performance, a company needs to measure the marketing outcomes from the view point of the consumers. The performance of a company largely depends on the marketing activities that are carried on over a continuous time period (Kumar, 2015, p.9). These tools can be explained below. Market Return on Investment: As stated by Gupta (2015, p.140), return on the capital invested measures how well a Company generates the cash flow in respect to the capital that has been invested. Unless a company gets proper return on the investments made, there does not remain any chance of the growth of the Company in the market. In fact, the Company runs on loss. Therefore, it is very crucial to calculate the return on investment on a regular basis. The Return on Investment of Samsung for 2016 quarter was 14.26%. This measure clearly showed that Samsung has generated higher return on the investment (Kardous Shaw, 2014, p.198). As estimated, with the increase in the value, there remain positive returns on the new investments. https://wp-uploads-trefis.s3.amazonaws.com/articles/wp-content/uploads/2016/03/Samsung-070316.jpg Video: https://www.youtube.com/watch?v=jlkGEO79Iug Sales numbers: Sales numbers are the fastest and the most basic way to determine the present condition of the product in the market in comparison to its competitors. In the view point of Garca et al. (2014, p.155), increase in the overall number of sales shows the overall improvement in the business. This shall also help the Company to expand their market share. In the last quarter Samsung has been known for the leading market and global business operator. Samsung has shipped more than 94 million smart phones worldwide. The products of Samsung are well accepted among the global consumers. The Company has outrivaled the sales of products of other companies like Nokia, LG and others. https://www.slate.com/content/dam/slate/blogs/future_tense/2013/04/26/samsung_smartphone_sales_rise_to_double_apple_s_market_share/smartphone_market_share.png.CROP.article568-large.png Video: https://www.youtube.com/watch?v=NS9AuKm2IXg Customer feedbacks: Another important part of the market evaluation is getting feedbacks from the customers who are the main source of the revenue for a Company. Various Companies come up with different strategies to understand the perspectives of the consumers and improve their service likewise to understand the dynamic nature of the consumers. In this respect, Brunswick (2016, p.90) commented that in the market of intense competition, it is important to understand the needs and demands of the people so that the products can be differentiated and shall be made more acceptable among the people. Samsung has always taken the advantage of the digital market and focused on gaining feedbacks from the customers. Samsung has come up with a number of promotional campaigns like Selfie or uploading videos from the Galaxy Note 7 have drawn huge attention of the Samsung users. At the same time, the Company gained customer feedback as well. https://electrumbranding.com/wp-content/uploads/2014/09/customer-feedback2small.jpg Video: https://www.youtube.com/watch?v=_iVS1WxhaPE Samsung differentiates its products from its competitors In order to fight with the existing competitors in the market, Samsung uses a number of differentiation strategies. One of the most crucial strategies is product development. The Company has included a number of innovative approaches while designing its products. Its display size and the supporting apps along with powerful battery backup are some of the important features that separate the product from other competitors in the market (Jimnez-Zarco et al. 2017, p.94). Apart from that the set design and the metallic body colors are some of the attractive features of Samsung that has helped the Korean Company to mark its domination in the market even surpassing the giants like Apple Inc, Motorola, Sony and others. https://ei.marketwatch.com//Multimedia/2012/09/04/Photos/MG/MW-AU193_Galaxy_20120904054308_MG.jpg?uuid=0603f9d0-f675-11e1-a4ab-002128049ad6 Samsung benefitting from market evaluation With the findings and the presentation of the facts and data, there is no doubt that market evaluation has helped Samsung to touch the market skies and reach the galaxy. It is on the basis of the market evaluation Samsung has been able to gain a competitive advantage in the market because the evaluation of the market has provided proper information about the product that has helped Samsung to pave its future steps. References: Brunswick, G.J., 2016. The evolution of service-dominant logic and it" s impact on marketing theory.Academy of Marketing Studies Journal,Vol. 20 no. (2).p.89-111. Garca, J.G., Luaces, M., Veiga, C. Rey-Mndez, M., 2014. Farming Costs and Benefits, Marketing Details, Investment Risks: The Case of Octopus vulgaris in Spain. InCephalopod Culture(pp. 149-161). Springer Netherlands. Gupta, R. 2015. A critical evaluation examines the impact of social media on consumer purchasing behavior with reference to Samsung Smartphone.International Journal of Marketing and Technology,Vol. 5 no. (9), 137-152. Jimnez-Zarco, A.I., Rospigliosi, A., Martnez-Ruiz, M.P. Izquierdo-Yusta, A., 2017. Marketing 4.0: Enhancing Consumer-Brand Engagement.Socio-Economic Perspectives on Consumer Engagement and Buying Behavior, p.94. Kardous, C. A., Shaw, P. B. 2014. Evaluation of smartphone sound measurement applications a. The Journal of the Acoustical Society of America, Vol. 135 no. (4), EL186-EL192. Kumar, V., 2015. Evolution of marketing as a discipline: What has happened and what to look out for.Journal of Marketing,Vol. 79 no. (1), pp.1-9.