Market planning is a document which is written to describe the current market position of business with its strategy of Promotions and marketing efforts. Marketing plan normally covers a period of one to five years (Prue and Daniel, 2006). This report is based on a case scenario of Samsung Electronics. Samsung group is huge organization with many divisions like, Mobile communication, telecommunications, computer division, Mp3 business and many more. This report will help to review the changing perspective in marketing planning along with organization's capability for planning future marketing strategy.
1.1 Changing perspectives in marketing planning
Changing perspective for the current market situations which are based on the requirements of customers along with their future requirements are essential to analyze (Slotegraaf and Dickson, 2004). Samsung can analyze these changing perspectives on the basis of internal and external assessment, that are as follows:
The Production Concept: Samsung is a multinational organization and it operates in multiple divisions of electronics such as, televisions, mobiles, computers and laptops etc. The organization is in profitable condition which satisfies all the customers’ demands. Consumers are only comfortable with the product which is widely available and is less expensive. Accordingly Samsung is focusing on this concept to concentrate on achieving high production efficiency. This orientation has helped Samsung to develop in countries where customers are more interested in samsung products and then its features.
The Product concept: The product concept of Samsung retains those customers which favor the products that offer the quality, performance and innovative features (Greenley, Hooley and Saunders, 2004). The organization is making superior quality products and is improvising them with time. Thereby, Samsung Electronics has proved itself as the best brand.
The Selling concept: This is the most important orientation in common business practices which retains customers and business together. Thereby, Samsung undertakes an aggressive selling and brand promotion efforts to attract more consumers (Ardley, 2005).
The Marketing concept: Moreover, marketing concept of Samsung holds the key to achieve its organizational goal. The marketing concept assists the Samsung Electronics to be more effective than its competitors in delivering, creating and communicating value to customers (Sadjadi, Ghazanfari and Yousefli, 2010).
The societal marketing concept: This concept determines the needs and interest of target market and to deliver the desired products more effectively and efficient than its competitors.
1.2 Samsung capability for planning and its future marketing strategy
Samsung has strong capability to plan the marketing process because it has billion numbers of consumers in multiple countries. The Capabilities of organization has been categorized that is as follows,
Financial capabilities: Samsung's possesses strong financial capabilities to hold market and brand promotion activities. It is the top rising brand and primarily it is achieved by organization's ability to promote the brand in various events and social contribution. Increased brand promotions increases product sales which help the organization to become finally capable in planning current and future marketing strategies (Taghian, 2010).
Skilled Employees: Samsung has most skilled employees who plan and develop effective marketing strategies with their innovation and creativity.
Good brand image: Moreover, Samsung is a well known name in countries. A good brand image makes organization capable for planning and developing future marketing