Samsung Company A South Korean technology organisation, known for its electronic products, is based in Samsung Town Seoul yet operates in diverse countries around the globe. Samsung has a wide range of products that includes mobiles, home appliances, etc. Samsung has an innovation-centred organisational culture. It emphasises employees' knowledge, skills, and abilities for innovating the company's technology products, such as smartphones and wearable devices. Samsung Wearable Technology Samsung launched multiple watches products that strongly compete in the wearable market. 

Among these products the Gear Fit2 and Gear Fit2 Pro are packed with innovative cutting edge features. Gear Fit2 watch1 Based on the business wire news, Gear Fit2 is a sleek and versatile fitness-focused smartwatch that is water resistant; Gear Fit2 Pro is an upgraded GPS fitness band with smart features. Samsung's Gear Fit2 devices were designed to let consumers get the most out of their day, and help them live a healthier and well-balanced life. "Our Samsung wearables help consumers 'go beyond fitness' and enjoy an active, balanced and fulfilled life in a smart and seamless way." The Gear devices assist with a range of activities - from robust fitness tracking to nutrition and sleep monitoring, as well as motivational coaching as a lifestyle companion. By introducing new smart capabilities and easy-to-use features and by partnering with leading names in tech and fitness, Samsung is helping consumers go beyond fitness and accomplish big things.

"At Samsung, we celebrate the everyday athlete - whether you're going for a light jog, or training for your next triathlon. We have a long history of embracing choice and innovation, and our wearables are designed to help consumers of varying fitness levels meet their goals and aspirations. We want to help remove the stigma that fit can only mean one thing and that fitness trackers are complex and for only the most intense of workouts," said DJ Koh, President of Mobile Communications Business, Samsung Electronics. "Our new Samsung wearables help consumers 'go beyond fitness' and enjoy an active, balanced and fulfilled life in a smart and seamless way."

 Gear Fit 2pro current Consumer profile • Both male and female age range 25 to 35. • Given the high price of the watch, the consumers are mainly employees or small business owners that have a mid to high income. • Psychographic: Individuals with interest in sports in general, they are concerned with their performance and reaching their goals. • They are gym members and consider sports as part of their daily routine not necessarily to lose weight but mainly to improve their health & wellbeing. 

Gear Fit2 Pro Marketing Mix Product2: • Water Resistance and Swim Tracking: An ideal companion for any swim - from laps to playing in the pool - these devices are 5 ATM1 certified for water resistance. Now with Speedo's latest swimming training app, Speedo On, the Gear Sport and Gear Fit2 Pro also allow you to easily track key swim metrics including lap count, lap time, stroke type and more. • Top-of-the-line Heart Rate Monitoring: With improved accuracy, the devices offer advanced real-time heart rate monitoring. They help you continuously monitor your heart activity - whether it's enjoying a stress-free nap or an invigorating cycling class. 

• Premium Partnerships: Daily activity can be supplemented with updated Under Armour and Spotify partnerships. Both devices provide access to Under Armour's fitness apps including UA Record™, MyFitnessPal®, MapMyRun® and Endomondo™ for activity, nutrition, sleep, and fitness tracking functions - these apps provide users with a holistic picture of their health and fitness. • Auto Activity Detection: Automatic activity detection built into the devices keeps you in tune with your body and can recognise the following categories of activities: Walking, Running, Cycling or performing Dynamic Activities that could include dancing to basketball. • Personalised Motivation: You can customise your own wellness plan with tailored goals and alerts. Price: Price ranges between AUD 190 & AUD210 Samsung uses a competitive pricing strategy to prevent attacks from its competitors in the market. Also, Samsung is not a first mover in these product categories and thus it has to defend its position in the market. Based on Samsung pricing policy any product has to be generating a revenue & profit that secures the overall brand profitability - accordingly no price discounts can be offered to consumers unless the product sales increases by 25% at least. Place: Samsung sells to the retailers like JB Hi-Fi, Officeworks; major retailers dealing in technology generally have to include Samsung in their offerings, because of the brand being worldfamous. The distribution is the strength for Samsung. Samsung products are as well available on eCommerce sites like Amazon, eBay etc. As well Samsung sells directly to customers through its online website, Samsung stores and small kiosks in shopping centres. Promotion: Samsung promotes new products using newspapers and digital media. Samsung uses celebrities as brand ambassadors not only to benefit from their huge followers but also to associate the brand with these famous figures. The brand uses large outdoor signages and posters on highways and prime locations. Samsung is also known for being a giant in sponsoring events.

Issues & consumer feedback Samsung is constantly challenged and forced to upgrade the software to keep up with technology advances. The Gear Fit2 pro is facing strong competition, and consumers have mentioned a few times that competing products could be found cheaper. The Samsung website sales have been slow as customers bounce rate is high, reaching up to 60% at the landing page, 25% at the product page and 14% at the checkout - leaving only 1% conversion rate. The sales of Gear Fit 2 are declining and have reached only 52,000 units sold last year which is below the sales objectives and targets set by management. The market trends3 The health and wellness sector has recently grown into a multi-trillion dollar industry. Statistics from the Global Wellness Institute suggest that the Fitness & Mind-Body subsector is worth $542 billion a year alone. Wearable tech has been a key driver of the growth in this sector. The future of Gear Fit2 PRO As the market is fast-moving, new models have been launched and the sales of Gear Fit 2 are declining, Samsung decided to explore new markets for its product to restore the product sales curve and achieve a 25% sales growth at least in the first year. Samsung management believes that there is an opportunity to target a new segment in Australia - the gym and professional sports clubs in the Australian major cities. As a newly appointed brand manager in Samsung Australia, you are required to develop a NEW marketing mix for Gear Fit2 and prepare a report answering the below questions.

 

 It is time to implement and monitor the marketing mix and the different activities proposed. Answer and complete the questions and reports below needed to implement & monitor the marketing mix. 

1. a. Detail the activities needed to implement the proposed marketing mix.

 

Marketing mix component

product:( explain the  product features)

Price:

Promotion:

Place:

 

Activity to implement the Marketing Mix

Product:

Price:

Promotion:

Place:

 

b.  what are the resources needed to implement the marketing mix you proposed?

financial resources:

Physical resources:

Human resources:

Technology resources:

 

2Stakeholders briefing 

a. Identify & list the key stakeholders 

 

internal stakeholders:

external Stakeholders:

 

b. list 5 stakeholders and explaining their roles & responsibilities of each stakeholders.( at least 5)

 Stakeholders 

1

2

3

4

5

c. Formulate an email to one of the stakeholders of your choice and brief them on their roles and responsibilities in the implementation of the marketing mix. You can use the email format below:

 

To: samsungcompany

From: samsungcompany

 Date: 

Subject:

 Dear ...

 

3. As a newly appointed brand manager, you are required to have good communication with your team.

 a. Explain why it is important for teams to communicate with each other. (50+ words) 

b. List & explain at least 3 (three) ideas/strategies you could implement to establish good team communication. 

c. Suggest team building strategies that you would implement.

 

4. Using the table below explain the strategies for monitoring the marketing activities by detailing what to monitor, when and how - an example is provided.

Marketing Activities	What to monitor	when	how
promotion advertising campaigns	budget actual  spending against plan	monthly	face to face meeting.reviewing the spending to date compared to budget plan.
Campaign outcome. Click through rates, conversion rate..
Product Quality
Revenue
Market Share
Place Channel performance
Price Customer acceptance/ feedback on price

5. a. Use the progress report template below to assess the marketing performance against targets and objectives.

 

Activity	Objective/target	%achieved	Comments and next steps
Example: Product adjustment	Addson to the Gear 2 fit Pro	25%	IT team is delayed due to technology issues- Issue solved on 15th April new deadline 30th Apri

b. Using the table below compare and record variances in marketing costs against budget

Activity	Budget Plan	Actual spent	Variances

c. Briefly explain the methods to gather and analyse information regarding the variances in marketing revenue and costs. 

d. Using the table below compare and record variances in marketing revenues against budget.

Activity	Objectives	Actual	Variances
Sales Volume
Sales revenue