Samsung Pricing Mix

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Samsung Smart Outlet
Originally known as Nyrius Smart Outlet

Jessica Clarke 11743770
Matthew Spray 11228513
Richard Tulloch 11211099
Ferguson Joe Armstrong 11560733
Shanshan Ru 11505447
Josh Horton 11431448
Andy Smith 11848975

Contents
1. Introduction………………………………………………3
2. Strategic fit………………………………………………..4
3. Competitive offers in the market……………….6
4. Empirical analysis of customers’ willingness to pay………….9
5. Recommendations…………………………………….15
6. References…………………………………………………19
7. Appendix……………………………………………………21

1) Introduction This report aims to assist Samsung to understand pricing issues with their new product, the Smart Outlet. It will assist them to determining and calculating the optimum price to sell their product at. This report contains a detailed analysis of pricing strategies that Samsung can apply to ultimately stimulate profits.
Samsung is currently developing a plug-in adaptor (Smart outlet) for home electrical appliances. Smart Outlet is a next generation device that stands between your wall socket and anything you want to plug into it (TV, computer, heater, oven, etc). This new device allows individuals to control all of their home electrical appliances from their Smartphone.
This new technology allows users to easily and conveniently control their devices, conserve energy over time by eliminating standby power, measure and record power usage of devices, and increase their devices operating lifespan through more efficient use.
Samsungs’ smart outlet range offers 2 different product categories: Basic (Single Samsung outlet connection point, 33ft range, full application capabilities, white-colour only) and Premium (7x Samsung outlet connections, 33ft range from each connection, full application capabilities, different colour options).
Samsung are a leader in technological advancement and innovation on a global scale. Samsung will set their target demographic for the smart outlet to male and female teenagers and young adults. These individuals will be tech-savy and look for innovative, smart products. The product itself suits to someone who has a busy lifestyle in his or her daily life. The Samsung smart outlet will aid these individuals to organize their daily life through their phone.
Through the primary data we collected, females and males were separated into two segments, Segment A and B, respectively. Samsung will additionally use price discrimination to differentiate prices based on segments.

2) Strategic Fit
Samsung is one of the few companies leading the global market in technological advancements and innovation. Through innovative, reliable products and services; talented people; a responsible approach to business and global citizenship; and collaboration with our partners and customers, Samsung is taking the world in imaginative new directions. (Samsung, 2015).
The strategic fit of a product within a company is how that product is seen as appropriate with respect to an organization's overall objectives (BusinessDictionary, 2015). The smart outlet is a next generation device that will help solidify Samsung’s position as a market leader. Samsung’s strategic an innovation mission is ‘We imagine ground-breaking new ways to discover share and learn. Then we make them real, so people around the world will have access to the intelligent information they need to lead happier, healthier, richer lives’ (Samsung, 2015). The competitive situation and the organisation should not be viewed as separate, but rather as dissimilar influences in the same global market. The smart outlet is a perfect strategic fit for Samsung. There has to be consistency between supply chain capabilities created in the supply chain strategy, and consumer priorities of competitive strategy, with supply chain strategies and competitive strategies having the same goals.
With Samsung Electronics being their flagship company, having a device that helps managed consumers other products, especially
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