Introduction
Identifying the target market is vital because knowing the customers will allow the company to sell its products or services effectively. When producing the product, the company should consider consumers’ needs and preferences (Asdi & Putra, 2020). Identifying and analyzing the target market of Samsung will help the future development of the consumer profile. The Samsung target market is divided by segmentation variables, such as geographical, behavioral, psychological, and demographic peculiarities (Tien, 2019). The Samsung Company’s target market is diverse groups of people with different demographics, geographic, psychographic, and behavioral characteristics.
Main body
The geographical segmentation of Samsung’s target market puts emphasis on focusing on certain geographic areas. Samsung Electronics separates the Asian market into several regions and then approaches various regions differently (Tien, 2019). By such an individual approach, Samsung aims to penetrate the market of the country. Samsung focuses on the domestic market and nearby markets more (Tien, 2019). That means that the geographic characteristics of the primary target consumers are that they are residents of South Korea and nearby regions.
The first international market that Samsung entered was the Chinese one. Samsung approached the Chinese market in a specific way to adjust to it (Tien, 2019). Today, Samsung is quite popular in China; thus, this region is one of the company’s primary target markets. Samsung emphasizes the research and analysis of the wide range of customers in each market they are entering. Samsung Electronics implements a translation strategy, which is the translation of the global scale’s strategy into the local scale’s strategy (Tien, 2019). Thus, Samsung targets the international market and provides the strategy adaptation to the local market.
It is worthy to note that Samsung provides new technological products, including new models of headphones. Along with the release of new products, the target market of Samsung Company focuses not only on the already existing consumers but also on the new innovative buyers (Yun, 2019). Such users are technology-friendly and value high-end products. They constantly use such electronic devices as headphones in everyday life. The psychographic characteristics of the Samsung target market are that the consumers have a positive attitude towards technology.
Various studies differently describe the target market of Samsung. According to Tien (2019), the target market covers customers from low-end to high-end. The prices for the headphones vary from low to high. Samsung targets both middle-low-end markets along with premium-end markets (Yun, 2019). Apparently, Samsung’s target market includes a wide range of people from different classes. Consequently, their income will vary as well, starting from the low and middle-income rates to the high-income rates. According to Tien (2019), Samsung creates its products for people with different purchasing power. Thus, Samsung Company does not divide the target audience according to their financial status and creates products for all consumers.
The demographic segment of Samsung does not target certain ages. However, according to Tien (2019), the primary customers of electronics are adults. Gender is not the critical factor for the target market of Samsung as well. The headphones are used by both genders in everyday life or in professional settings. Samsung headphones are consumed both by males and females from different social classes. Samsung has divided its target market according to consumers’ lifestyles and personality characteristics (Tien, 2019). This is an advantage for the company since such a behavioral segment would benefit from such an individual approach. The behavioral segmentation of the target market is adjusted to the particular market. It means that the company considers the desires of different customers.
Conclusion
In conclusion, the target market of Samsung targets both middle and low-end markets and high-end markets. It does not focus on a particular age group or gender and targets all audiences. However, considering the geographical characteristics, the Samsung market primarily targets the domestic market and Chinese market. In addition, the company’s strategy includes adjusting to the local market of the different countries, which allows it to take into consideration the needs and preferences of different social groups and audiences.
References
Asdi, A., & Putra, A. H. P. K. (2020). The Effect of Marketing Mix (4P) on Buying Decision: Empirical Study on Brand of Samsung Smartphone Product. Point Of View Research Management, 1(4), 121 – 130. Web.
Tien, N. H. (2019). International distribution policy comparative analysis between samsung and apple. International journal of research in marketing management and sales, 2020(1), 2.
Yun, B. S., Lee, S. G. & Aoshima, Y. An analysis of the trilemma phenomenon for Apple iPhone and Samsung Galaxy. Serv Bus 13, 779–812 (2019). Web.