Samsung Extended Marketing Strategy
The extended marketing mix consists of the “7 P’s” which include Product, Price, People, Promotion, Placement, Physical evidence and Process and is the marketing tool that firms use in a targeted market. Its role is to help understand which product can best be suited to a customer’s needs and wants.
In relation to Samsung Galaxy S phones, the Product is the physical phone itself. For example the Galaxy S7 comes in a smooth black cardboard, plastic box and is packed with a curved metal alloy body with 3D glass for the 5.1 inch touchscreen, Dual pixel 12MP camera, 3000mAh battery, expandable memory, waterproof for up to 2 hours and much more. The basic need this phone serves, is the need to communicate with others, stay online and up to date with what is going on. The S7 is a combination of a good and experience as Samsung over the years have been able to develop the experience aspect of the S series phones. This has a huge impact on customers as it is serving their needs and wants whilst creating an enjoyable experience.
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The Galaxy S6 is $900 and the S7 is $1,150 according to Samsung’s website. Samsung is running a Competition based pricing strategy ad they have their prices around where the main competitor Apple is at, but they try to add more value to their offering, therefore a little value-based pricing. The price could be impacted by the products life cycle (ASSUMPTION) i.e. the Galaxy S series phones are now within the growth stage as they have taken over more phone sales than Apple whilst the image of the brand Samsung is growing. The price is definitely affected by competition, as it is competing with the top brand Apple, who is well known for higher
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