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Samsung was founded by Lee Byung-Chul in 1938 as a trading company. Over the next three decades, the
group diversified into areas including food processing, textiles, insurance, securities, and
retail. 1969 Samsung first entered the electronics industry with many electronics. Samsung first products
where black and white TVs. During 1970 the company started exporting their electronics overseas,
at that time Samsung was already a major manufacturer in Korea. Samsung then
started developing computer minors, LCD screens and in the year 2000 was the year
the Samsung galaxy smartphone was born. It was one of the top selling smart phone sin that time, since
2006 the company has been selling global television manufacturer. Then later in 2010 the had expanded to
developing their very own Samsung tablet computer. Years onwards Samsung has been staying on top with
their top-quality phones and technology including in their new phone developed every year. They soon had
created Samsung branded washing machines, tumble dryers and microwaves.
Mars was firstly created as a chocolate bar made from nougat and caramel covered in milk
chocolate created from Forrest Mars in 1932. Forrest Mars was the son of an American candy maker; forest
had introduced Milky Way in 1923. Mars started from when Forrest Mars had used a factory that he had
rented out with the help of 12 staff members he began manufacturing the chocolate from nougat
and caramel covered in milk chocolate. Over the years it has changed with minor variations and design of
the wrapper this chocolate bar began to be very popular, then later Mars had created Maltesers chocolate
in England in the year 1937, he also created and launched M&Ms in 1941. He also them launched Uncle
Bens Rice in 1943
Diversification
Diversification is where business and organisations market their new products to newer markets. They
launch new products that differ from their existing products they sell to new markets. An example of
diversification is Apple as they not only sell iPhone, they sell laptops, computer, iPad- tablet.
Each product has a different market.
Mars is most famous for their chocolate; they use the technique of diversification as they produce products
other than chocolates. Mars produces other chocolate products such as “M&M'S®, SNICKERS®, TWIX®,
MILKY WAY.” The market they sell these all to are people who like eating chocolate, these chocolate
products are consumed everyday by consumers, each brand is a well-known brand, and Mars continues to
produce them. But also, Mars also sells products which are for different market.
Products such as “PEDIGREE®, ROYAL CANIN®, WHISKAS®, EXTRA®, ORBIT®, 5™, SKITTLES®, UNCLE
BEN'S®” are other products Mars also produces to other markets, other than their chocolate marketers.
By producing products such as dog or cat food sells to another market which is people who have pets who
will want to purchase pet food. Other products such as uncle bens have a different market compared to
market of people who want chocolate or pet food
Samsung uses marketing techniques such as diversification, to market their luxury products they do
not just produce phones which are part of android, as they have many variants of newer
phones coming out every year and are sold to the market of people looking to purchase SAMSUNG phones.
They also produce SAMSUNG tablets which are like iPad but are Samsung branded these are sold to a
, whole different market as these are like phones but does not let you make calls; these products may
be suitable for kids to play games.
Another example of SAMSUNG using diversification is that not only do they produce just technological
products they also produce washing machines along with tumble dryers, microwaves. By Samsung
extending their markets they are increasing the amount of people purchasing their range of products. By
being very well known for their technology and their phones, Samsung have marketed their other products
such as washing machines for people to purchase they know people have heard of Samsung,
Product development
Products development is when a company or business will develop an existing product of theirs, usually the
ones they already sell in existing markets. An example of product development is apple iPhone, every year
they develop their existing latest iPhone for a new one with new updates and develop it
and release every year so there's usually a new iPhone every year.
Forrest Mars has initially created Mars bar in a 1932, had help of 12 staff members he began manufacturing
the chocolate from nougat and caramel covered in milk chocolate. Mars had had product
development as; Over the years the chocolate bar has changed with minor variations and design of the
wrapper this chocolate bar began to be very popular. Other developments to Mars bar such as
the nougat was made lighter, the chocolate on top became thinner, and the overall weight of the bar was
reduced slightly. Mars UK later cut the weight of regular bars from 62.5 g to 58 g in 2008. Although at the
time the size reduction was not published, Mars claimed that the change was designed to help address the
UK's obesity crisis. The company later stated cost increases were the main reason for the change. The
regular Mars bar was further lowered to 51 g in 2013, taking the reduction to about 20 per cent over five
years.
Samsung had also had their product developed. One example of their products being developed is their
phones. As they have ranges of different Samsung phones they retail, they have some called Samsung
galaxy s7/8/9, as well as that they also have other phones called Samsung s7/8/9 EDGE these
are the newer phone but either way the two types of phone always gets developed a d a new
phone is developed by next year and it is sold. By having these new phones developed this
means the newer phones will be updated with newer software, higher picture quality, face ID. This is so the
newer device will be better than previous device and you will be able to notice it had developed from
that pervious device to a newer better, more features device to use. Although price does increase but
people still invest their money to purchase an Samsung mobile phone due to their reputation and how big
the business is, they will believe no matter how much the new phone is they will know it is really good and
is more developed than previous model
Market penetration
Market penetration applies to an existing product or service being effectively marketed in a particular
market and its market share is increased It is measured by the volume of sales of an existing good or service
relative to the total target market for that product or service. It is done by the strategies such as bundling,
advertising, lower prices or volume discounts in an existing market
