Introduction
As the director of the Samsung Marketing Department, I aim to introduce a revolutionary headset that can transform the lives of everyone. This device creates a virtual reality environment around a person and can lead to a real revolution in innovation. This strategic report outlines a detailed plan for launching and promoting this model in the future. The strategic plan includes an assessment of sales projections, monitoring and evaluation of implementation actions, and a summary of key aspects of the strategy.
Sales Forecast
The sales forecast, and consequently, the income and expenses, are essential components for estimating the success of the new headset. Virtual reality in marketing is becoming an increasingly popular theme yearly (Alcañiz et al., 2019). Virtual reality can improve the quality of human life and customer service. These improvements are not only beneficial for customers but also help increase sales for business owners (Dwivedi et al., 2021). The proposed augmented reality headset is innovative, and integration with other Samsung products can attract even more buyers, as shown in Figure 1.
Current Marketing Strategies
To develop a clear sales plan and forecast, it is essential to consider the history of current marketing strategies. For example, based on the analysis of the communication strategies employed by Samsung and Apple in Portugal, it can be concluded that communication tactics should be tailored to the target country (Almeida et al., 2021). These actions find a response from potential buyers, which allows them to raise awareness about the product. Samsung has promising development prospects and is a globally recognized brand that provides high-quality technology. (Wu et al., 2020). The Samsung VR model is shown in Figure 2.
Thus, the use of brand authority, which was achieved through constant work over the past years, will further improve sales forecasts.
Regarding the monitoring and evaluation of action plans, they are also crucial to a successful marketing strategy. In VR marketing, practical participation is essential, which involves transitioning from the verbal component of the process to the creation and promotion of the product (de Regt et al., 2021). Thanks to the rapid transition to practice, it is possible to quickly assess the involvement of consumers in viewing advertising and their satisfaction with the new headset.
In the innovative sphere, it is crucial for marketing to track customer sentiment through quantitative and qualitative data collection methods (Binti Mohd Haizar et al., 2020). This approach enables one to clearly identify areas for potential improvement and the actions that will help optimize the interaction between marketers and users. In modern marketing trends, artificial intelligence can also be used in monitoring (Verma et al., 2021). Thus, AI-based analytics will enable the timely assessment of user sentiment and preferences, allowing marketers to adjust their strategies accordingly.
Marketing Plan
Thus, the marketing plan provides for the rapid launch of innovative VR headsets from Samsung and consists of the following steps:
- Definition of short- and long-term objectives.
- Product concept development.
- Identifying the target audience
- Calculation of income and expenditure projections.
- Implementation of communication strategies.
- Monitoring and campaign evaluation.
- Define strategy and monitor product launch.
- Sales of products.
- Control and improvement of products.
- Identification of future innovations and prospects for improvement.
This plan will enable the brand to fully control its advertising campaign and maintain user interest in the company’s new product releases.
Conclusion
In conclusion, this plan provides a qualitative basis for entering the Samsung headset market. The strategic application of the research results presented in this report, tailored to consumer needs, will enable the rapid introduction of the latest technologies. Samsung should not only meet market expectations but also surpass them by making revolutionary innovations. As Marketing Director, I assure you that this plan will help the brand raise its reputation and increase profits from innovations in the shortest possible time.
Reference List
Alcañiz, M., Bigné, E. and Guixeres, J. (2019) ‘Virtual reality in marketing: A framework, review, and research agenda,’ Frontiers in Psychology, 10. doi: 10.3389/fpsyg.2019.01530.
Almeida, M. et al. (2021) ‘Samsung vs. Apple: How different communication strategies affect consumers in Portugal,’ Administrative Sciences, 11(1), p. 19. doi: 10.3390/admsci11010019.
Binti Mohd Haizar, N. F. et al. (2020) ‘The impact of innovation strategy on organizational success: A study of Samsung,’ Asia Pacific Journal of Management and Education, 3(2), pp. 93–104. doi: 10.32535/apjme.v3i2.849.
de Regt, A., Plangger, K. and Barnes, S. J. (2021) ‘Virtual reality marketing and customer advocacy: Transforming experiences from story-telling to story-doing,’ Journal of Business Research, 136, pp. 513–522. doi: 10.1016/j.jbusres.2021.08.004.
Dwivedi, Y. K. et al. (2021) ‘Setting the future of digital and social media marketing research: Perspectives and research propositions,’ International Journal of Information Management, 59(102168), p. 102168. doi: 10.1016/j.ijinfomgt.2020.102168.
Verma, S. et al. (2021) ‘Artificial intelligence in marketing: Systematic review and future research direction,’ International Journal of Information Management Data Insights, 1(1), p. 100002. doi: 10.1016/j.jjimei.2020.100002.
Wu, X. X., Choi, W. J. and Park, J. (2020) ”I’ see Samsung, but ‘we’ see Samsung and LG: The moderating role of consumers’ self-construals and perceived similarity in spillover effect of product-harm crisis,’ International Journal of Market Research, 62(1), pp. 79–94. doi: 10.1177/1470785319866404.