Marketing - samsung LED
Samsung, being the market leader in the television industry in India, has decided to launch a new Television brand with some unique features. Before launching the product, however, it is important for the company to understand the macro environment carefully, the current status and the future direction.
Demographic Environment –
It is important for the company to analyze India as the potential market for launching new brand of television. With a population of over one billion, is the second largest market in the world.
Population Growth – Higher the growth rate, higher is the possibility of increase in demand of the products. In Indian context, the growth rate is very high, in fact, India is poised to overtake China in population and reach the distinction of being largest national market in the world
Population Age mix – Being a product which is used by people of all age groups, population age mix doesn’t give an appropriate idea about the market potential, however, the demographic profile (median age) of India is 25.9 years, therefore, most of the people lying in the earning age group, it shows greater potential of for purchase and acceptance of the product.
Household Patterns - The decline of the joint family and the corresponding increase in the nuclear families has serious implication for the marketers. Greater the number of nuclear families in the market, greater will be the demand for the product.
Inferences –
1) India, having the second largest population in the world, forms a great potential market for a company which is the market leader in television industry at present.
2) High potential for the acceptance of the product for the median age is around 25 years, and people are ready to experiment and accept new products at this age.
3) Large number of households implying greater potential demand.
Socio Cultural environment Being the leader in the television industry, Samsung must analyze the market potential by understanding the social
Demographic Environment –
It is important for the company to analyze India as the potential market for launching new brand of television. With a population of over one billion, is the second largest market in the world.
Population Growth – Higher the growth rate, higher is the possibility of increase in demand of the products. In Indian context, the growth rate is very high, in fact, India is poised to overtake China in population and reach the distinction of being largest national market in the world
Population Age mix – Being a product which is used by people of all age groups, population age mix doesn’t give an appropriate idea about the market potential, however, the demographic profile (median age) of India is 25.9 years, therefore, most of the people lying in the earning age group, it shows greater potential of for purchase and acceptance of the product.
Household Patterns - The decline of the joint family and the corresponding increase in the nuclear families has serious implication for the marketers. Greater the number of nuclear families in the market, greater will be the demand for the product.
Inferences –
1) India, having the second largest population in the world, forms a great potential market for a company which is the market leader in television industry at present.
2) High potential for the acceptance of the product for the median age is around 25 years, and people are ready to experiment and accept new products at this age.
3) Large number of households implying greater potential demand.
Socio Cultural environment Being the leader in the television industry, Samsung must analyze the market potential by understanding the social