Target Market Analysis of a Product for Samsung - myassignmenthelp

Question: Discuss about theTarget Market Analysis of a Product for Samsung. Answer: Introduction The product that has been selected for the purpose of deciding the appropriate consumer segment is Samsung 78 Curved 4K SUHD HDR Smart LED LCD TV. The segmentation of the consumers of this product will be decided in the analysis. The segmentation will be based on the psychographic, demographic and usage rate related factors of the consumers. Analysis of the consumers The consumers of the product of Samsung will belong age group of 25 and above. The people who are aware of the latest technologies and are attracted towards the high quality and high cost based products will be a part of the consumer segment of Samsung. The usage rate of high technology based products is high among the customers who belong to this segment. The Roy Morgans Vale Segment is based on the different segments of consumers who show different types of behaviour towards the products that are manufactures by the companies. The product of Samsung which is being analysed in the discussion is related to the customers who belong to the Socially Aware group. These are people who believe in purchasing the products that are based on the latest technologies (Cross, Belich and Rudelius 2015). These consumers are well-informed about the products before they take the decision to purchase it. They have the most in-depth news about the products that are being launched in the market. These people mainly have a sense related to social responsibility and they try to convince others about the benefits about the new product that is being marketed and introduced in the industry. Positioning map of Samsung Source Created by author The major competitors of Samsung in the high quality and high price range are LG and Sony. These products give huge competition to Samsung in the market. The price related competitors of Samsung on the other hand, are Micromaxx and Panasonic. These companies provide the products with same features in low prices. However, the quality of these products are also quite low (Dibb and Simkin 2016). References Cross, J.C., Belich, T.J. and Rudelius, W., 2015. How marketing managers use market segmentation: An exploratory study. InProceedings of the 1990 Academy of Marketing Science (AMS) Annual Conference(pp. 531-536). Springer, Cham. Dibb, S. and Simkin, L., 2016. Market segmentation and segment strategy.Markefing theory: A student text, Sage, Los Angeles, pp.251-279.