Samsung Market Analysis Essay
Samsung is a smart phone brand, which is very popular in Ho Chi Minh in particular and the world in general. Samsung’s main smart phone product is the Galaxy series, the first of which was released in April 2009. Samsung is now the leader in the smart phone market, Samsung also holds a considerable share of 20 to 25 percent of mobile phone sales. In the first quarter of 2016, the Samsung Company sold over 100 million mobile phones worldwide and holds 24.5% of a market share (Statista. (2016). Global smartphone market share 2016). There are 2 reasons why I chose to analyze its products economic characteristic. First one is because I like Samsung products and the second one is because Samsung is a big corporation, so I can study …show more content…
(2016). Smartphone vendors market share Vietnam 2013-2014). That result means Samsung market share reduce 13% in just one year while other smart phone brand just slightly changes. This showed us that Samsung’s demand is elastic. The price elasticity of demand is a measure of how much the quantity demanded for a good responds to a change in the price of that good. This information will illustrate and justify our statement below.
Availability of Close Substitutes
First of all, the main reason cause Samsung became an elastic brand is competitors’ product. The main competitor of Samsung is Apple which is a real threat with Samsung. During these day that the new Iphone 7 and Iphone 7 plus are going to available on September 16th, 2016. Every time Apple launches a new product, number of Samsung smartphone sales reduces because people are more concern to Apple than Samsung.
Moreover, when people with average income want to buy a smart phone, they would rarely choose Samsung because there are many better choices for consumers in Vietnam. According to The gioi di dong web site, with 5 to 6 million VND, we can get an Oppo smart phone with high quality and a lot of useful function such as high camera quality so costumer can take a selfie more beautiful , or an Asus Zenphone 5 around 4 million VND with high camera quality and battery (Thegioididong.com,