The apex of today’s business world- marketing, has bifurcated into different segments, all proceeding in the same direction. One of the many segments of marketing is experiential marketing, also known as engagement marketing or live marketing. This marketing case study presents an ideal application of experiential MNC marketing strategy by one of the leading multinational companies of the world- Samsung.
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Samsung is a South Korean multinational company, founded in 1938. Over the years, it has established itself in the most profound way possible, using effectual and tactical marketing strategies. The word ‘experiential’ emerges from the term ‘experience’. Therefore, experiential marketing is built upon the live experience of a product or service. Experiential marketing of Samsung is an effective and ideal MNC marketing strategy.
Brought forward in 2016, the experiential marketing of Samsung was a strategy aimed at transforming the conventional marketing process, into an interesting way to capture the audience’s interest. Let us know how, by giving a quick read to the following three points of this marketing case study!
1. Samsung opened an event & space showroom- A Technology Playground
The strategy of Experiential marketing of Samsung, made it open its first technology playground in the Meatpacking District of New York City. This new place is a digital playground, featuring all the gadgets of Samsung. An innovative and mesmerizing concept, it is certainly worth for be considered as a marketing case study.
The opening of a place like this has emerged as a dynamic approach to the conventional everyday marketing system. The interesting element behind the introduction of a technology playground in this MNC marketing strategy, is that it is not just another retail store meant for purchases. Rather, it is an extravagant three story building, built to showcase the evolving technology of Samsung. The customers and the visitors can interact and try the gadgets in a real time basis to get an on-hand experience.
2. Marketing through experiencing (Demonstrating products through a VR)
The essence behind the experiential marketing strategy of Samsung lies in the fact ‘what we see is what we believe’. The strategy of providing the customers a real experience is a compelling way to capture the target market in the field of experiential marketing.
The CMO of Freeman Company, Chris Cavanaugh, marked a very significant point in the field of experiential marketing. He said, “There’s a consensus among marketers that brand experience builds loyalty”. In simple words, you are more likely to purchase a product after you experience what it’s really like to use that product. The aim of marketing through experiencing is to drive the customers to the market for experiencing the product. The purchase is made after the visitor gets an experience of using the product.
A VR or virtual reality device is like a technological epitome, that enables the user to experience a virtually created environment. Following its experiential marketing strategy, Samsung built a VR tunnel to give fascinating hallucinatory experiences to its customers. The experiences were focused at generating leads and converting them into sales.
3. Virtual experiences to persuade the buyers
Virtual experiences have become a prominent part of any typical MNC marketing strategy. Virtual experiences render a practical platform for the users, to test whether the product or service suits their want optimally or not. The prospective customers can transform into regular customers for the organization, once they get a proper knowledge of the benefits of the organizations product.
In the Experiential marketing of Samsung, the company used virtual reality to offer free samples and demonstrations, letting the customer take charge. VR is an upcoming concept with a huge scope of enhancing the target market towards the success of the business organization.
The above marketing case study- experiential marketing of Samsung, is one victorious marketing story. It sets a good example for a well established organization, in the field of marketing. By implementing experiential marketing, Samsung’s approach to marketing has initiated the beginning of the next hi-tech generation.
Also know about the global marketing strategy followed by IKEA in our blog on ‘IKEA- A GLOBAL MARKETING SUCCESS STORY‘.