Product Life Cycle Management and Samsung
Name: Tajdar Hasan Khan
ID : 20789
Course: Principles of Marketing
Time: Wed ( 3pm to 6pm )
Teacher: Mr Waqas Rana
Research: Case Study
Title: SAMSUNG ( From Gallop To Run )
QUESTION AND ANSWERS
Q1. How was Samsung able to go from copycat brand to product leader? There are three main factors that lead product to be cutting edge product. That comes under LEE’S “new management” top to bottom strategy for the entire company. The goal he wanted Samsung to become a premier brand that would dethrone sony as the biggest consumer electronics firm in the world.
Factors that used under “new management” are:
1. New Product Development.
2. Product “Test Marketing”.
3. Positioning and commercialization
New Product Development:
Hired a new crop of fresh, young designers who unleashed a torrent of new products.
Not humdrum, me-too products but sleek, bold and beautiful products targeting high-end users
(“lifestyle works of art”)
Samsung concentrates on the development of new products, product improvements, product modifications, and new brands through their R&D effort that let them
Product “Test Marketing”:
Every product had to pass the “Wow!” test, if it didn’t get a “Wow!” reaction during market testing, It went back to the design studio
Making Samsung conducts integrated test of product and its entire marketing program-targeting and positioning strategy, advertising, distribution, pricing, branding and packaging, and budget levels
Providing management the information needed to make a final decision about whether to launch the new product or going back to studio.
Positioning And Commercialization:
As a part of Samsung’s revamped strategy and positioning, along with developing stylish and innovative new products, the company altered distribution to match.
Working with specially retailers like best buy and circuit city
Samsung was not el cheapo products any more.
Q2. Is Samsung’s product development process customer
ID : 20789
Course: Principles of Marketing
Time: Wed ( 3pm to 6pm )
Teacher: Mr Waqas Rana
Research: Case Study
Title: SAMSUNG ( From Gallop To Run )
QUESTION AND ANSWERS
Q1. How was Samsung able to go from copycat brand to product leader? There are three main factors that lead product to be cutting edge product. That comes under LEE’S “new management” top to bottom strategy for the entire company. The goal he wanted Samsung to become a premier brand that would dethrone sony as the biggest consumer electronics firm in the world.
Factors that used under “new management” are:
1. New Product Development.
2. Product “Test Marketing”.
3. Positioning and commercialization
New Product Development:
Hired a new crop of fresh, young designers who unleashed a torrent of new products.
Not humdrum, me-too products but sleek, bold and beautiful products targeting high-end users
(“lifestyle works of art”)
Samsung concentrates on the development of new products, product improvements, product modifications, and new brands through their R&D effort that let them
Product “Test Marketing”:
Every product had to pass the “Wow!” test, if it didn’t get a “Wow!” reaction during market testing, It went back to the design studio
Making Samsung conducts integrated test of product and its entire marketing program-targeting and positioning strategy, advertising, distribution, pricing, branding and packaging, and budget levels
Providing management the information needed to make a final decision about whether to launch the new product or going back to studio.
Positioning And Commercialization:
As a part of Samsung’s revamped strategy and positioning, along with developing stylish and innovative new products, the company altered distribution to match.
Working with specially retailers like best buy and circuit city
Samsung was not el cheapo products any more.
Q2. Is Samsung’s product development process customer