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Samsung is a very well-known smartphone brand with a long-standing corporate history and culture. In general, marketing plan objectives for any firm incorporate short-term aims that contribute to the achievement of long-term goals (Wood, 2017). The focus for such practices is external relationships and internal activities. However, as Samsung plans to enter a highly specialized and niche industry of bone-conducting headphones, it is necessary to focus on external relationships. The companys presence in this field of audio devices is not as vivid.
The market is mainly dominated by companies such as AfterShokz, Panasonic, BoCo inc, Damson Audio, and Audio Bone (Infiniti Research Limited, 2021). As such, the key marketing aims would encompass the following:
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Profit maximization by acquiring at least 10% of the market share within the first year of product launch.
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Building a solid brand image and customer preference in the industry of bone-conducting headphones.
In consideration of the product objectives, it is necessary to review the available opportunities for product development. Samsung has a partnership with AKG Acoustics which already has the necessary technology for bone-conducting headphones. Therefore, product design and development could be accelerated and hopefully presented in the next Galaxy event to enhance the exposure and interest in the product. The customer segment by application for bone-conduction headphones could be divided into four main categories: military, hearing aid field, sports (including but not limited to scuba diving), and others.
As such, to target a general audience and apply the Galaxy branding, it is necessary to exclude the military and hearing aid fields. Thus, the focus should be on three primary customer positions: passionate musicians, young achievers, and athletes. It is necessary to understand the customer and their product preferences to find a viable point of differentiation. The headphone experience for each of the customer segments is different. Passionate musicians would pursue clarity and depth of sound. Young achievers explore the aspect of comfortability. Athletes often look for solutions that are waterproof and capable of withstanding athletic movements while being comfortable.
Bone conduction headphones can satisfy such needs, given that they are properly constructed. Therefore, it is necessary to focus on product quality and follow the mission statement of Samsung the development of superior products and services (Martin, 2019). Therefore, as a point of differentiation, it is possible to focus on outperforming the existing competitors in terms of product quality. However, the essential point would lie within the quality of services provided.
In the case of Samsung Electronics, it would be the Smart Ecosystem or The Galaxy Ecosystem. The ecosystem allows seamless transition and interaction between the devices under the Galaxy label. It also has a designated app called Galaxy Wearable, which expands the available range of functions within wearable smart devices such as smartwatches or wireless headphones. In other words, the product needs to be differentiated using the brands signature Galaxy Wearable platform. Customization options and features that are available in the Galaxy Buds series can be used as a reference point to enhance the new product line. It is possible to customize the functions of the sensory panel on Galaxy Buds using a Wearable app and enhance the audio experience through a specialized equalizer. Samsung (2021) also offers app continuity an ability to switch from the brands smartphone to a tablet and vice versa without the restart of the ongoing application. As a result, the new bone conduction headphones should provide an immersive and fluid user experience that will differentiate them from their rivals.
References
Infiniti Research Limited. (2021). (rep.). Global Bone Conduction Devices Market 2021-2025 (pp. 1120). London.
Martin, V. (2019). Samsungs Mission Statement & Vision Statement (an analysis). Panmore Institute.
Samsung. (2021). What is the galaxy ecosystem that enables connected living? Samsung.
Wood, M. B. (2017). Essential guide to marketing planning (4th ed.). Pearson.
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