Topic > Samsung Revenue Essay - 730

Also, they get closer to their customers by producing innovative products with a wide range of smartphones with various operating systems, shapes, sizes and prices at attractive prices. With the comparison items function, the cost of Samsung products is consistently 10-15% lower. Samsung has used its own internal resources and applied to its own production system, as a result, this will reduce production costs and offer more options to customers. Decreasing costs is another strategy adopted by Samsung to attract customer attention and increase sales volume. Pricing strategies consist of different types such as price skimming, competitive pricing, penetration pricing, discount pricing and product life cycle. Samsung uses different pricing strategies for different products. First, price skimming. A higher price was set before competitors entered the market. Therefore, Samsung applies a pricing strategy in selling its products, such as portable phones. Once the company releases a new model, it will decrease the price of the previous model to compete with another competitor. Secondly, competitive in pricing. Samsung uses a competitive pricing strategy when other organizations offer similar products and services. Samsung has set the total cost of a