Research Article
Innovative New Product Development and Marketing Strategies for New Market Creation: Samsung Electronics’ ‘Slim CRT’ TV
Chung-Ang University
Published: January 2011 · Vol. 14, No. 3 · pp. 281-302
Full Text
Abstract
The TV market is rapidly changing with the spread of flat panel displays and digital broadcasting. This case study covers how Samsung Electronics, which experienced difficulties in earning profits and establishing a premium brand status in CRT TV market, was able to create a new market with the launch of an innovative product called SlimFit TV, carrying out systematic market-sensing research based on consumers’ needs and subsequent effective STP and 4P strategy. This case also explores shifting in target market from developed countries to emerging markets based on early success and future tasks to sustain slim CRT TV needs in the rapid adoption of LCD TV.
