Strategic Marketing Management Essay Example | Topics and Well Written Essays - 3750 words

Strategic Marketing Management - Essay Example Brief History Samsung electronics is one of the Asian technology firms which have been able to capture a good market in the global market. The firm is a part of the Samsung conglomerate that provides a number of services and products. The firm has been able to establish a large enough market niche, overcoming global giants such as Apple, BlackBerry and Nokia. In terms of its Smartphone sales, Samsung has been able to provide a strong competition in the global market, and this has enabled the firm to be able to increase its sales and revenues. However, although Samsung has been able to capture a big market share on the global market, the firm has not been able to capture the Canadian market where its main competitor, Blackberry, has a stronghold on the market. This is critical because the Canadian market is a particularly good one given the fact that the market is a high end market, with numerous potential customers. Goals To be the market leader Samsung intends to be the market leade r in consumer electronics. ... It also aspires to be able to deliver the best most innovative products especially in the smart phone industry. Increase a cream of the market customer base (price skimming) In the technology industry, price skimming is the best way for firms to get their research and development costs returned as soon as possible. Price skimming refers to the firm being able to sell of a new innovative product and a considerably high price to those people who are can to pay more to be the first to use the product (Baker and Hart 2008). Once this happens, the firm recovers its research and development costs which were incurred in developing that product. The firm can now sell the product to the lower market at a lower price. Since Samsung has a global market, the Canadian market could be the best market to act as its high profile market. Although the market for Samsung is a global one, it fails to have a market stronghold in market areas where the firm can use the market for price skimming. This is b ecause of a number o reasons. First one is the fact that the main markets where Samsung has a stronghold on the market cannot be used for effective price skimming. Black Berry has a stronghold in all the high profile markets, and this makes it possible for Black Berry to use price skimming. This ability also makes it possible for Black Berry to be able to invest properly without worrying about its research and development costs (Martin 2013). If Samsung is able to increase its market share in the Canadian market, it will also be able to do effective price scheming and thus positively affect its research and development process. Fig. 1.0 showing the market share of the main Smartphone brands. Note that Samsung is the only experiencing growth. Increase customer base Apart from having a