Introduction to Marketing Design
If an organization has to compete in the contemporary competitive market then organization has to design an innovative product so that they can possess the competitive advantage among their competitors (McKelvey and Munslow, 2011). In the highly advanced market, innovative and creative product only sustains their position in the long run to gain profit. It is important for the organization to focus on the design and innovation of the product as, the current market trend and customers are attracted towards the unique and innovative product.
With the up gradation of technology in the global era and continuous changing preferences of the customers an innovative product is Samsung galaxy S6 edge. The product has distinct features from their rival smart phones as, the galaxy S6 edge features in built charging that is compatible with both WPC and PMA standard. This report mainly focuses on the various characteristics of the chosen innovative product. While, the report also focus on evaluating the benefit and value derived by the clients and customers. It also studies the product uniqueness and distinct features that regarded as the innovative product that meet the requirements of the market customers.
TASK 1
The benefit and value derived by the clients or customers
The chosen innovative product that is Galaxy S6 edge has benefited the customers to be touch with all the daily updates and market scenario with just a single click (Moreira, Silva and Sousa, 2012). Mobile phones are considered as an innovative product that benefit the market customers to be in contact with their family members, know about the things that are going around the world etc. with this product it seems that it satisfy all the changing needs of the customers in terms of application technology and trend. The benefit and value obtain by the customers or clients by the innovative product are being measured by the following two theories that is Maslow need hierarchy theory and value chain (Sunley, Pinch and Macmillen, 2008).
Maslow need hierarchy theory: Although Samsung is the known brand in the smart phone market that benefits the customers by satisfying the customers’ needs according to the Maslow theory. The Samsung's mobile phone has been altered from time to time in order to meet the changing needs of the market customers. An innovative product by the Samsung company that is Galaxy S6 edge has benefited the customers and clients by satisfying their all needs in terms of application technology and latest trend (Michalek, Ceryan and Koren, 2006).
Physiological needs: With the Galaxy S6 edge, the customers and clients get benefited as they satisfy their basic needs as the phone is quite thin and can be act as the handhold device. So that customers can easily carried them from place to another.
Safety needs: The Galaxy S6 edge introduced in the competitive market will also meet the safety needs of the customers and clients. As, the phone possess effective features to make the emergency call. While, the smart phone with the advanced feature benefit the customers by tracking the weather condition of the specific area (Dell'Era and Verganti, 2010).
Social needs: The third need is achieving social needs, the Galaxy S6 edge also benefit the clients as the phone has quality to connect the people and family member with the help of widgets and various applications. The Galaxy S6 edge fulfills the social needs of their clients by connecting long-distance people (Mohr, Sengupta and Slater, 2009).
Esteem needs: With the smooth touch and slimness of Galaxy S6 edge, it can help the customers as they considering the phone as status quo object.
Self-actualization needs: while, the Galaxy S6 edge gives modern touch to the customers lifestyle.
While, using the innovative product Galaxy S6 edge there are certain benefits and value of the product that is being obtain the customers and clients. These benefits may be measured by value chain model. The model features set of activities that industry perform in order to present the valuable or innovative product to the market customers. This model features the various primary and supporting activities that add more value to the product (Vedin, Alvarez and Verganti, 2006).
Primary activities
Inbound logistics: This activity refers to the raw material or good obtained from the suppliers and then used to manufacture the end product.
Operations: The activity that transform the raw material into the final product. The value is being added to the finished product as it changes through the production line.
Outbound logistics: the distribution of the Galaxy S6 edge to the distribution center or their authentic store (Sawhney, Verona and Prandelli, 2005).
Marketing and sales: Marketing and sales activities conducted to determine the customers requirement and the activities that pursue the purchases.
Services: After the product that is Galaxy S6 edge is being sold to the market customers what supported activities that company offer or render to their customers. These are often termed as after sale services in form of replacement, warranties etc.
Supporting activities
Procurement: These activities include purchase of raw material, machines and capital equipment (Song and Thieme, 2006).
Technology development: In the technology driven scenario to obtain competitive advantage the company must use the technology to develop and innovate new products.
Human resource management: The hiring or selecting the competent personnel that contribute their knowledge in manufacturing S6 edge.
Firm infrastructure: It include physical infrastructure that contribute in adding the value to the product. For example, IT systems (Wilson, 2011).
The uniqueness of the design element
As the Galaxy S6 edge possess the uniqueness in terms of the shape, design, color etc. the product features the distinct design element that is quite attractive to attract the market customers. The Galaxy S6 edge is the world's first smart phone with the dual edge display that provides the sophisticated and elegant look. The phone weight is just about 132g that is quite handhold item that can be easily carried from place to another. While, the phone also feature the premium look that it useful for the customers to maintain status quo (Jugulum and Samuel, 2010). The uniqueness of the Galaxy S6 edge can be measured by measuring their product life cycle (PLC).
Product life cycle refer to the process that covers and manages the life cycle of product from the origin through the disposal of the factory-made products. The uniqueness of the Galaxy S6 edge can be measured by measuring its life cycle. The product life cycle possess 4 stages that is:
Introduction stage: The first stage is introduction stage, any product on this stage is quite expensive in nature. While, the product is being new in the competitive market their market shares will also be often low. The Samsung has introduced the Galaxy series to capture the market, as it has introduced S1, S2, S3, S4 and S5. In the contemporary scenario Samsung has presented their innovative product that is Galaxy S6 edge (Verganti, 2013).
Growth stage: Second stage in the product life cycle is growth stages in which innovative product strongly develop in their sales and profits. As the company at this stage often invest the major funds in the promotional activities to promote their products among the market customers to maximize the expected growth at this stage. The growth of the Galaxy S6 edge is increasing day by day with the effective promotional strategies (Tether, 2006).
Maturity stage: During Maturity stage, the product Galaxy S6 edge is being established in the market. This aim of the manufacturer at this stage is to maintain their market share in the market. This effective time period or the stage for the product to invest wisely. As the Galaxy have different product existing in the market, with the uniqueness in design S3 and S5 product are at the maturity stage.
Maturity stage: During Maturity stage, the product Galaxy S6 edge is being established in the market. This aim of the manufacturer at this stage is to maintain their market share in the market. This effective time period or the stage for the product to invest wisely. As the Galaxy have different product existing in the market, with the uniqueness in design S3 and S5 product are at the maturity stage.
Brand appeal
As with the different features and curvy metallic body Galaxy S6 edge enters in the competitive market. The products own distinct position in the minds of the market customers as compared to the competitors’ products like HTC. The brand appeal of the product helps in attaining the higher profit as compared with their competitors. To sustain in the contemporary market with the large competitors product must possess the competitive advantage (McKelvey and Munslow, 2011). Galaxy S6 edge features the dual edge display that act as the product competitive advantage to survive in the market. In the contemporary market, the brand appeal is essential to compete with the key competitors like Motorola, HTC etc in the market place. The Galaxy S6 edge has follows the competitive strategies of the Porter's that focus on the three different strategies to build the brand image to survive among their competitors. Porter's generic strategies are being used to find out the most appropriate competitive strategy for the Samsung organization. The three generic strategies results in cost leadership, differentiation and focus (Sawhney, Verona and Prandelli, 2005).
Cost leadership: Cost leadership is the strategies that are used to capture the broad market area by lowering the products costs (Hsu, 2011). Galaxy S6 edge relative have the higher cost but they have been focus on the products quality, uniqueness in the feature and design. This strategy targets the broad market area. The firm with these strategies competes on the prices with their rival companies to earn the profits (Cravens and Piercy, 2008).
Differentiation: The differentiation strategies focus on creating the unique or innovative product that are valued by the market customers (Moreira, Silva and Sousa, 2012). The uniqueness of the product features the premium charge that higher the charges. Galaxy S6 edge is different from the other smart phones as the S6 edge features the dual display edge that has been firstly featured in the Galaxy S6 edge (Jacoby and Rodiguez, 2007). The product also has the in built wireless charger that differentiates the product from the other branded product. This strategy stronger the brand images that lead to stronger customer recognition and make customers brand loyal (Dell'Era and Verganti, 2010).
Focus: Focus generic strategies concentrate on framing the strategies to built the brand image in the specific segment of the market (Swan and Zou, 2012). These strategies confine to only a part of the market through cost focus strategies and differentiation focus strategies. The cost focus concentrates on providing the product at the lower cost to the specific segment. While, differentiation focus concentrate on different product to the particular segment (Mutlu and Er, 2003).
In the contemporary markets, Galaxy S6 edge has their own image among their market competitors. As the company that manufactures the Galaxy S6 edge is among the top well known Android mobile brand in the global market. The brand appeal of the innovative product may also build by the measuring the brand positioning in the market place. Positioning may be termed as a marketing activities that intention to make a brand name to occupy a well-defined position and valued place in the mind of their targeted customers (Cooper, 2011). There are mainly four positioning strategies that Samsung keeps on changing with the growth of the new technology, changing requirements of the market customers etc that frequently requires alteration to the positioning strategy. The four positioning strategies are as follows:
Corporate positioning: Corporate strategy help in positioning the company image among the market customers. It focuses on enhancing the Samsung's image in the market among their competitors so that customers purchase the product with the name of company (Michalek, Ceryan and Koren, 2006).
Product positioning: Product positioning refers to analyzing the customer’s preferences and perception about the products quality, attributes relative to the competing brands in the marketplace.
Market positioning: This strategy involve positioning on the basis of market attributes such as customers profiles that is what they want in the smart phones, competitors product etc (Beckman and Barry, 2009).
Re-positioning: It refers to changing the marketing mix of the Samsung company with the continuous changing in the marketplace. To successfully re position the product in the market Samsung needs to modify their strategies and properly research the target market requirements.
CONCLUSION
From the above report it can be said that with the contemporary changing market, in order to meet the changing needs of the customers. Company must design an innovative product for the customers so that they might satisfy with the produced product. It is also concluded that the design and innovation are two vital elements that contribute in the success of the product in the competitive market. The report also suggested the various benefit and value that is being derived by their clients and customers, while the report also considers the uniqueness of its design element for their success in the marketplace.
REFERENCES
- Cravens, D. and Piercy, N. F., 2008. Strategic marketing. McGraw-Hill Irwin.
- Jugulum, R. and Samuel, P., 2010. Design for Lean Six Sigma: A Holistic Approach to Design and Innovation. John Wiley & Sons.
- McKelvey, K. and Munslow, J., 2011. Fashion design: process, innovation and practice. John Wiley & Sons.
- Mohr, J, J., Sengupta, S. and Slater, F. S., 2009. Marketing of High-technology Products and Innovations. Pearson Prentice Hall.
- Swan, S. K. and Zou, S., 2012. Interdisciplinary Approaches to Product Design, Innovation, & Branding in International Marketing. Emerald Group Publishing.
- Tether, B. S., 2006. Design in Innovation: Coming out from the Shadow of R&D. An Analysis of the UK Innovation.
- Vedin, B. A., Alvarez, E. and Verganti, R., 2006. Design-inspired innovation. London: world Scientific.
- Verganti, R., 2013. Design driven innovation: changing the rules of competition by radically innovating what things mean. Harvard Business Press.
- Wilson, A., 2011. Marketing research: an integrated approach 3rd edition. FT Prentice Hall.
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