Marketing Mix Essay Example | Topics and Well Written Essays - 1500 words

Marketing Mix - Essay Example The paper will significantly concentrate on product, price, and place and promotional attributes of the selected product. It was Sony who manufactured a â€Å"LED-backlight LCD television† in the year 2004. However, Samsung was the first company to coin the term â€Å"LED TV† when they manufactured this product on their range of Edge-LED lit LCD televisions in the year 2009. There are even an enormous number of competitors in the marketplace of LED TVs such as LG, Vizio and Sharp. Focussing on the marketing mix strategy of Samsung LED TVs, the research paper will also try to recommend a few modifications in the existing strategy followed by the company. 2.0 Product The LED (Light Emitting Diodes) is a modern technology in the range of televisions. It has swapped the use of ‘standard florescent tubes’ in television. This technology is used by Samsung for producing high quality and fine images. This section of the research paper will focus on the product qual ities that are offered by the company along with the likely qualities sought by the customers. 2.1 Features that Customers Care the Most The features that are mostly sought by customers in the LED TVs are as follows: The images that are displayed by the LED TVs should be livelier The size of the LED TVs are expected to be drastically small, even hardly an inch The LED TVs should be energy savers and consume at least 40% of less power than that of other televisions The images produced by LED TVs are expected to be finer dark Last but not the least, the vibrant images’ quality should make the price paid worthy (Hall, 2011) 2.2 Features of Samsung LED TVs vs. Features of its Competitors The biggest competitors of Samsung LED TVs are Sony. It is better to compare the two with respect to a particular brand for making the differences distinct. Samsung C6500 vs. Sony EX700 The picture of Samsung C6500 has a stellar view with its input of High Definition signals. This feature makes t he picture look extremely bright. On the other hand, Sony EX700 has a major drawback of contrast degradation at the side angles that ranges to even more than 15 degrees off-centre. Thus, it is evident that the picture quality of Samsung LED TVs is better than that of Sony’s. The black level/contrast ratio of Samsung is better than that of Sony as in the dark scenes it maintains an inky black view. But the series of Sony EX700 maintains a view that is little ineffective than Samsung C6500. In case of appearance, Sony EX700 has a drawback of framing bezel which is wider. Moreover, it has a depth of 2.25 and a rotating table stand. On the other hand, Samsung C6500 has a depth of just 1.2 inches along with a bezel frame that has thickness of just 1 inch. The â€Å"swivelling chrome quadrapod stand† makes it look expensive and attractive (Wiley, 2010). 2.3 Consumers’ Criteria of Choices and Use of LED TVs The most important thing that the consumers look for while dec iding to buy an LED TV is the budget. It is important to decide on the amount that they can pay for buying the product as there are quite a few ranges of price in this category. Next, the customer should decide on whether they