Current Market Conditions Competitive Analysis, Essay Example

The development of smart phones has flooded the market ever since Apple Corporation has lead the presentation of a new age of cellular phones for the public to appreciate. Ever since this point, the interest of companies concentrated on developing electronic gadgets became focused on creating one-of-a-kind cellular phone that would get the attention of the market. Samsung is one of the companies spearheading the said movement today. Creating several lines of branded cellular phones, Samsung has proven that they are not just an ordinary ‘electronic company’ that produces appliances and other common electronic devices.

As time passes though, it could be realized that the market’s demand for better smart phones continue to develop. This is the reason why to the making of new smart phones with new unique features have become specifically intense especially during this era of gadget phenomena. Communication has become a common activity that humans engaged in and in the field of making smart phones, making such activity easier and much realistic [beyond the limits of distances between people] is one of the deciding point of whether or not a smart phone is worth buying. Nevertheless, there are three other specific categories that should be given attention to when developing and launching a new product line of cellular phones in the market today.

One is that of the function. What does the gadget do? What unique functions does it have in comparison with the others? Smart phones are expected to perform more than that of the ordinary cellular phone. It is also expected to perform communication tasks at a higher degree such as allowing video calls, real time mail alerts and other functions that allow a person connect with another individual in an instant. Other functions include entertainment [games]and matters relating to hobbies [camera and features on photography and social networking]. Other smart phones have specific concentrations such as music playing, high definition movie presentations and others. All these should be considered especially in designing new lines of smart phones to be introduced in the market.

Another element to consider is style. How does it look? Does it function fit its screen resolution? How much does it weigh? Function meets style, this is how new smart phones today are being described. A functional phone ought to be handy and stylish. The reason for this is of course the fact that the market being served expects to have a phone that would be easy to carry around and yet would have a good appearance, which would be easy on the eyes yet heavy on function.

The last consideration to note is that of the price. With the many companies able to clone smart phones at present, the price range of the smart phones to be offered by legitimate producing companies is highly challenged. To be able to decide on this matter, the company must first be able to define the market that they are targeting in each line of smart phones they introduce to the different sectors of the market. Categorizing the market needs and their capacity to buy is important in this matter. This is the reason why when creating a new line of products for the society, it is first important to know who the product is for. Once such matter is qualified, adjusting style and function would be easy based on the resources to be used on the production of the item hence making it in par with the price that the customers are expected to pay for the phone later on.

These considerations entail to provide companies such as Samsung the chance to understand how the new culture of smart phones and its impact on the changing demands of the market could define the next step of the company in creating a new and unique form of communication device for the modern society they serve. Creating something unique yet affordable for the target market is the key to assuring a product’s continuous success in the market.

References:

“History – Corporate Profile – About Samsung – Samsung”. Samsung Group. http://www.samsung.com/uk/aboutsamsung/corporateprofile/history06.html. Retrieved on June 12, 2013.

Kirk Ladendorf (August 21, 2012), “Analysts: Samsung’s Austin upgrades will keep it near head of the pack on low-power processors”, Austin American-Statesman