Research Marketing Questions
Research Marketing Questions
Part 1: Memo
To: Senior Vice President of Marketing
From: Jazmin Pierce
Date: October 28, 2019
SUBJECT: Insight and Commentary on Company’s Growth
There is a lethargic closing gap between marketing and sales. It is important that a company develop its brand and market its products so that the sales team can make the best of the limited resources. In such a busy world, a business can create demand and attract customers, which soon distinguishes firms from those that maintain the status quo, which are growing rapidly. (Smith & Raspin, 2008).
Between 2015 and 2016, there was a significant amount of revenue growth, approximately 10 percent. While there have been positive changes in the financial performance of the company, some regions have seen lower revenue. Relative to June 2015 to June 2016, the Resell–Industrial Hygiene consumer group suffered a-39.7 percent drop in sales, resulting in a-50.1 percent decrease in gross profit. Top Customer, XYZ Inc., also saw a -23% decrease in sales that lead to a -0.5% decrease in gross profit.
The fields with the highest increased revenue increases are domestic and industrial customers with revenue earnings of $12.085.137 and $7.195.592 in YTD from January to June 2016 vs. YTD from January to June 2015. About the Customer Rank Acquire, the sales from YTD January to June 2016 vs. YTD January to June 2015 increased by 58.4 percent. During the same period, Customer Class, Government also had an increase of 23.4%. In the same span, customer class, government category also increased by 23.4%.
A general increase in revenue is generated from the marketing report and can be attributed to domestic business, consumer ratings, commercial product groups and top customers, such as ABC Corps. The study also reveals that many of the best customers have significantly increased their profits in the previous month. This indicates that current marketing strategies work. Within these consumers, further effort is needed to strengthen the marketing strategy and to use this knowledge to build and reorganize other areas which are struggling. There is also a significant market for international customers. The substantial increase in revenue in the government and education sectors is necessary to reiterate. Such industries could provide additional revenue opportunities over the years.
Data analysis reveals that domestic consumers are the company’s highest assets and their products and services. In the years ahead, the acquisition and retention of these domestic customers continues to increase sales. The main objective of the marketing strategy should therefore focus on ways to expand market access to domestic clients. This can be accomplished by increasing awareness of the products and services of the company. The way advertising is done to domestic consumers is not prudent to neglect or abandon. If the current marketing plan remains the same or fails with domestic consumers, sales reductions could be seen.
It is important not only to implement strategies designed to attract new customers but also to introduce strategies that should also help to maintain current customers to guarantee a continuous growth in sales revenues. This is done by customer loyalty through the highest quality of products and through the delivery of comprehensive services. It will also help to analyze the areas with the highest revenue growth and compare them with the areas with the lowest revenue growth. There may be numerous policies, patterns, and opportunities that could boost low-income growth.
Samsung Electronics is an electronics and information technology company. Samsung is a multinational company with its headquarters in Suwon in South Korea, and its flagship company of the Samsung Group. According to Forbes (2019), Samsung Electronics was founded in 1969 and the CEO of the company is Oh-Hyun Kwon. The second-largest electronics firm after Apple remains Samsung Electronics. Www.samsung.com is Samsung’s website. Through their assembly plants and distribution networks, Samsung Electronics is distributed worldwide in over 80 countries.
Samsung’s main code is 5731 for radio, TV and digital retail outlets, whereas its secondary code is 443142, which stands for electronic stores. The primary code of the NAICS is 43142. Samsung’s management is triangular. Samsung has more than 235,999 staff worldwide, according to Forbes (2019). Samsung Electronics has always been a leading electronics company, including TV sets, computers, printers, coolers, washing machines and medical devices. Samsung produces portable products, including mobile devices, communication systems, computers and digital cameras as well.
On the worldwide smartphone market, Samsung Electronics was second with deliveries dropping to 5.2% compared with previous years. In 2018, Samsung shipped about 311.4 million smartphones worldwide, down 3% in 2017. For the first time in over 4 years, Samsung’s global market shares decreased for the recent challenges of reverting to Samsung Galaxy 7. Samsung Electronics also retains $16.52M in profits with sales of $177.29B and assets of $272.4B, even with reversal of market shares. Samsung Electronics is still the world’s largest producer of handheld devices and TVs.
Hague, P. N., Harrison, M., Cupman, J., & Truman, O. (2016). Market research in practice: An introduction
Samsung Electronics on the Forbes Global 2000 List. http://www.forbes.com/companies/samsung-electronics/
Smith, B. D., & Raspin, P. G. (2008). Creating market insight: How firms create value from market understanding. Chichester, England: John Wiley & Sons.