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For Smartphone Users.
The smartphone market is very competitive; the main competitors for Samsung in the market are Apple, Huawei, LG, and others. To curb this competition, Samsung takes a pricing strategy seriously and makes sure the cost to build the phone at the lowest. From this strategy and other few other strategies, Samsung has been able to become a significant competitor, such as Apple and others.
OFFERING THE BEST PRICE FOR CUSTOMERS
Skimming Price – Just for the new product, which is just launching in the market. Afterwards, they can slowly drop the price when the product gets older. As such, the product will compete with other brands in the market.
When other smartphones are introduced to the market, Samsung needs to lower the prices, as there is a possibility for consumers to be attracted to the Samsung brand if they are looking to purchase a new phone.
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Pricing is important for Samsung as a competitive advantage between other competitors. This is in a situation where customers use the cost to make a decision on the value of the product. They can compare a lot of smartphones, and they will conclude Samsung has the best for money.
