Samsung Presenting to Samsung Client Janet Rodriguez Marketing Research Columbia College Chicago
Table of Contents Introduction………………………………………………………………………..3 Study Goal and Specific Objectives................................................................ 4 Study Methology ....................................................................................... 5 Management Summary ........................................................................... 6 Detailed Findings. .................................................................................. 7 Demographics ........................................................................................ 8 Appendices……………………………………………………………………9
Introduction Samsung focuses on manufacturing and marketing consumer electronic products across the world. It operates in more than 72 countries worldwide through a network of subsidiaries and affiliates. A comprehensive product portfolio and geographical reach are the major strengths of the company. Though the company has risks associated with competition and counterfeit products, its strategic collaborations, launch of new products, and positive market outlook ensure higher revenue. Most of the reputed camera manufacturers have stopped making film cameras except for the professional high-end models. Every manufacturer is focusing on developing the best digital cameras.
Samsung Study Goals and Specific Objectives The research is intended to describe and analyze an individualâ€™s preference between Samsung and its competitor brands for digital cameras. The prime objective of this report is to compare the brands on the basis of their brand and how different components influence our target when choosing a brand for cameras. A good knowledge of individual brand preference on digital cameras would help in understanding how brands shape our consumers buying decision and preferences. We took the now standard approach for any successful global company of mapping out a platform to determine what the Samsung brand stands for. This information is used to arrive at target segments, positioning, and brand architecture. Perceptions do not change overnight and consumer electronics products are easily copied and quickly commoditized. But it is the combination of these factors that makes Samsung a formidable opponent. Just five years ago, it would have been laughable to suggest that Samsung might pose a threat to huge brands like Sony. Even now, although Samsung may be a stronger name in certain product ranges or regions of the world, it still faces strong competition. Sony, for instance, has done an extraordinary job of image management overall. Even though some analysts wonder if Sony is not overstretching its brand, the size and scope of its brand management work is extremely strong by any standard. The company, however, sees its broad range of businesses as a competitive factor in its edge over its equally broad range of competitors. Sony can also throw its weight around by creating unique products and accessories that are not interchangeable with non-Sony equipment. For instance, connectors for DC power or signal transfers are created as proprietary plug types forcing the consumer to buy Sony cables. Aftermarket AC adapters are difficult to locate for Sony products because the company creates its own standard rather than merely manufacturing equipment that could use any of the five universal tip sizes available. This would be considered a brilliant idea, but only if there is no competition. Unfortunately, with other reliable brands offering alternatives, the practice could turn risky if consumers get fed up with being forced to buy overpriced Sony accessories that are generally considered commodity components. Sony will have to work harder as reliable alternatives like Samsung become more prevalent.
Study Methodology In order to complete the study, we used a primary study to collect quantitative data in a survey within a sample size of 32 individuals who are familiar with digital cameras. The target consumer is between the ages of 18-24. This method captures information through the input of responses in a questionnaire. The questionnaire was designed to translate information needed into a set of specific questions. In this, research information regarding brand identity, brand awareness, brand association, brand personality, perceived qualities is translated into simple questions to obtain respondents view on the above concept. Information was collected by the respondent by completing an online survey. The main method for distributing surveys was via email, website, or in person. Most respondents were able to access the survey with their smartphone and completed the survey in that method, but was sent via email or online first. The survey consisted of open-ended questions to collect a personal response to their buying decision when buying a camera. We also ranked brand attributes to understand the brand perceptual view for each of the competitor brands. Aside from that, a few demographic questions were asked to ensure that we had the demographic that was asked to collect responses from.
Management Summary During the data analyzing process, we attempted to cross tab our questionnaire on survey monkey, where the survey was originated. However, many of the selections that we crosstabbed were not affective enough to use for the research. We decided to go with the original questionnaire and pull out the individual responses and plug in data separately to get a better understanding of their brand preference. One of the questions that we would have liked to ask each individual would have been where they like to shop for their product. A lot of them own smartphones, and we would have liked to do more research on it. Is the environment of the place of purchase for those smart phones with cameras located near other hand-held cameras, or is the consumer limited to only a cell phone device during their purchasing decision? We would have also liked to ask the attributes question a little differently so that we could get more information out of it during the process of cross-tabbing. It made the data collection process a little difficult because my questions sounded a bit redundant. Something that might have skewed the answering process during the questionnaire is to mix the questions around by selecting the randomization option. We felt as if the format might have geared individuals into thinking it was more of a canon preference questionnaire rather than discovering what brands stand out the most. One of the questions that made it difficult to collect data from were the open-ended questions. Mostly because it was a long process when it came to gathering similar answers to add it up and get results to support our data. It is a great way to gather independent responses rather than us limiting the respondent to certain answers to chose from, however it should only be recommended for personal interview questions, or maybe a focus group.
Detailed Findings We asked a brand perceptual question to determine how each of the top camera brands are in the current market and our results were very much where we had predicted when it comes to the top two brands. Canon came in first, while Nikon came in second for being the top brands in the consumers mind. Unfortunately, Samsung came in 4th place which is not what we had predicted knowing the amount of product that has been out in the market. This is how we were able to support what our primary objective was going to be for the study. Samsung is a very successful company when it comes to product origination. However, one way of making a more appealing quality product is to change perception by moving its product from budget stores like Wal-Mart to more specialized retailers like Best Buy, the brand is better showcased as a quality brand. We also discovered that our primary target demographic that was presented in the survey were between the ages of 19-29. It still falls within our MRI demographic, however it is strictly centered on the millennial generation, who not are only the driving group to use online and social media to engage with brands. We were able to discover that they are very much like the millennial generation description within the questionnaire by asking them what programs they use to edit or share their content. Many of them picked the most commonly used forms of social media, while others who work in a professional field within photography entered that they used programs like Final Cut Pro to edit their content. That was something that we did not think of asking, and is something that we can touch on for a future study. We feel that those individuals are well more educated on cameras than the rest who mainly use their cameras during special events.
Demographic According to the MRI data, our demographic for the study is the Generation C. The C stands for "connected," and the group comprises Americans between 18 and 34 â€” who are defined by their digital connectivity. They consume media, socialize and share experiences through devices more than other age groups. They are also known as the Generation Y, where they are known to be realistic. They understand how scary the world can be, having grown up post 9/11, in the wake of the greatest recession and amid countless reports of school violence. Theses dark events will make them more cautious, but will also inspire them to improve the world. Below is a list of the categories that fall under the demographic that was found in MRI data: o Education Level: Attended College- This means that not all of them have a diploma, or they found a new career path in life due to circumstances. o Average age of the consumer: 18-34 years old- They represent the Generation Y. o Occupation: Other form of employment other than sales or business. o House Hold Income: $30k-$39kThey are considered middle class and is a combination of income between one or more people. o Census Region: Midwest. It is divided into different regions, however it looks like our demographic is more likely to be located here. o Marital Status: Never Married- This is very brief, however it can mean one of two things; either engaged or single. o Race Identity: Black/African American Samsung
Appendices Below is are the visual results from the online survey within a small sample size group:
Below is a sample of the survey that was created in an online survey website called Survey Monkey: 1. What is your gender? What is your gender?
2. How old are you? How old are you? 0-18
3. Do you own a smartphone? Do you own a smartphone?
4. Do you own a digital camera aside from your smartphone? Why or why not?
5. How often do you take pictures? How often do you take pictures? Only on special occasions Once a week Once a day Several times in a day 6. How often do you create videos? How often do you create videos? Once a day Once a week Very often
Not as much 7. Are you more inclined to buy a digital camera or smart phone? Why?
8. What is your purchase criteria when buying a camera? What is your purchase criteria when buying a camera? Brand Price Availability Features 9. What brands are currently the strongest in the market? (Pick top 2) What brands are currently the strongest in the market? (Pick top 2) Canon Samsung
Sony Polaroid Panasonic
Nikon 10. Rate the importance of these attributes on a Samsung camera. (1 being the best, 6 being the worst) Connectivity Performance Speed Battery life Weight Appearance
11. Rate the importance of these attributes on a Canon camera. (1 being the best, 6 being the worst) Connectivity Performance Speed Battery life Weight Appearance
12. Rate the importance of these attributes on a Nikon camera. (1 being the best, 6 being the worst) Connectivity Performance Speed Battery life Weight Appearance
13. Which of the following features would you be willing to pay for? (Select all that apply.) Interchangeable lens
All of the above
Point and shoot
Does not matter
Dual view camera
14. What do you most often take pictures and videos of? (Select all that apply) Travel
Young children or pets
15. What special applications do you often find yourself using for picture editing and enhancements? (Select all that apply) Instagram
16. What special applications do you often use for editing and video sharing? (Select all that apply) Vine
17. What is your intent for sharing your photos and videos online? (Select all that apply) Blog
Professional work/ Freelance
Additional information that was used to conduct the survey:
Benefits of a Digital Camera: •
Eliminates Film Processing: This is probably the most significant of all digital camera advantages. No longer do you have to waste your time and energy in developing the roll of film in a dark room. With digital cameras, you simply click the picture and transfer it to your computer using the camera's data cable. If you wish to print it, you can take it to the photo store in a CD and get it printed instantly. It's as simple as that! Massive Photo Storage: Digital cameras can easily store up to 10,000 photos, depending on the size of the memory card. This completely outweighs the storage capacity of traditional roll film cameras. Moreover if the storage capacity runs out, a larger capacity card or back up facility can be used. Operating Speed: In case of earlier cameras, one always had to wind the film after clicking a photograph. This led to a certain amount of time delay and inconvenience. No such activity is required in case of digital cameras. Digital cameras are simple point and shoot, complete with auto focus and image stabilizing. You don't have to worry about the subject being out of focus or your hand shaking, simply click, click, and click! User-friendly Features: High-end digital cameras have been meticulously designed for face detection through the camera lens. Hence you can say goodbye to all those blurry faces and red-eye photographs. These days, high-end digital cameras also come equipped with inbuilt motion detection mechanisms which adjust moving images and thereby avoid blurriness. This becomes particularly useful when clicking pictures of moving objects; for example, a horse race or a football match in progress. Also, clicking pictures in the dark, or in dim-lit surroundings, has become much easier, thanks to special night mode features that are commonly available in today's digital cameras. Editing and Sharing Options: Digital photography enables you use editing software to do a variety of things to your images. You can upload your images to a computer and make them sepia, or erase unwanted objects, images, colors from a photograph. With digital photos it easier to share them with everyone around the world using social media, or you put them up for public viewing on an image uploading site or online store. Preview of Images: Digital cameras have viewing screens on the camera body which allow you to view the image as soon as you have clicked it. If you do not like it, you can simply delete it then and there. Isn't that great?
Video Recording: Today, most digital cameras come fully-equipped with inbuilt video recording features. So if you come across something that you would prefer to record rather than click, you can easily do it using the same camera. Environment-friendly: Using a digital camera is easier on the environment. With the world encouraging and moving towards a greener planet, processing film using toxic chemicals is obviously bad for the environment, what with more and more governments regulating the processing of film. Now, with digital images say goodbye to long processing time and processes.
Disadvantage of a Digital Camera: • Storage Space: The size of a digital image can be substantially large and it won't be long before your designated storage space fills up. This leaves the user with the option of extending his existing storage space with a hard drive or extra memory card. Increase in storage space, naturally, comes at a price which may seem slightly on the higher side. In certain rare cases, the memory card can become corrupt or can develop other problems which can result in loss of data. • Durability: It is vital to pay attention to the ambient weather while using a digital camera as they are sensitive to heat, extreme cold and moisture in comparison to the old film cameras. A digital camera is susceptible to extreme conditions that may cause malfunction and hence are rendered useless when using in snow or rain or desert areas. • Battery Consumption: Battery consumption is much more faster in case of digital cameras. This makes it necessary to keep a few spare batteries in hand, especially during lengthy photo sessions. • Complexity: An individual using a digital camera needs to know how to upload and edit images and be tech savvy with using computers. With a wide array of features and functions crammed in a digital camera, for those who aren't technologically inclined may find it overwhelming to learn digital photography.