J.L.D - Samsung Smartphone Market
Smartphones are on the cutting edge of current technology. Firms are constantly competing in an effort to corner this market. Creators and innovators such as: HTC, Apple, and Samsung appear to be paving the way as consumers grapple over which product suits them the best. These companies battle constantly for market share whether it is on the ground of the consumer’s desires or in the court system with lawsuits. These smartphones are rapidly evolving into one in all personal computers with seemingly unlimited communication and organizational capabilities. One of the companies that will be the main focus of this paper is Samsung.
Although Samsung has a grip in many …show more content…
Conversely, just because one is able to justify something does not necessarily make it right or true. Therefore, it is necessary to monitor consumers’ reactions to this price raise. This increase in price should not be added to products already on the market but products that are just entering the market. If Samsung proceeds with the first of the three strategy plans, it would make sense to both the producer and the consumer to have a higher price. This is because the product has more functionality. If people had the option of buying two separate tools for $100 each or one tool that had the functionality of the two tools combined but priced at $150 or even $175, most people would choose the multifunctional tool. Obviously some people will not need both tools or choose to spend extra to have the brand or logo or their choice. However, in this new world of globalization, especially with regards to technology and communication, multifunctional equipment has evolved from a want to a requirement.
This next, and final, strategy may sound as if it is in opposition to the previous strategy but in fact it is not. The two, if manipulated properly, can benefit each other. The strategy is known as lowering prices without really lowering prices. Although at first glance this sounds contradictory it is widely seen within the cellular phone market. It first involves partnering with a cell phone carrier company such as Verizon