Rasmussen College Mod 2 Samsung Galaxy Note7 Recall Paper

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Business Finance

Rasmussen University

Description

This is a two-part assignment. There is a Public Relations portion and an Advertising portion for this assignment. During this week's project, you will outline the key stakeholders who should receive your public relations message and the target audiences for your advertising message.

Part 1 - Public Relations

In a minimum of 2 pages, include the following:

  • Identify the key stakeholders who need to receive information from your company regarding the crisis and your company's response.
  • Discuss the details of the crisis situation that each stakeholder would be most interested in knowing about.
  • Pose at least one question each stakeholder might ask the company.
  • Cite a minimum of two credible sources.

Part 2 - Advertising

In a minimum of 2 pages, include the following:

  • Identify and describe the key customer segments (buyer groups) in the market in which your product competes.
  • How is your product/service currently positioned compared to the competition?
  • Describe the target audience for your selected product. Descriptions should include demographic, psychographic, and behavioral characteristics.
  • Cite a minimum of two credible sources.

Include in-text citations and a title and reference page formatted according to APA standards. Your paper should be at least 4 pages in length, not counting title page and references page.

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Running head: SAMSUNG GALAXY NOTE7 RECALL Samsung Galaxy Note7 Recall Name Institutional Affiliation 1 SAMSUNG GALAXY NOTE7 RECALL 2 Samsung Galaxy Note7 Recall Introduction Samsung is a leading producer of electronics and has over the years been a leader in the mobile phones industry. To date, Samsung holds the leading position in the production and sales of mobile phones, followed by Huawei and apple. This success could be attributed to their leading galaxy series that has taken over the market in large shares. However, this is not to mean that their operations have been without flaws. Recall of the Samsung Galaxy Note 7 Samsung galaxy note series has been a favorite for many after the S series. However, in 2016, the company suspended the sale and distribution of the galaxy note seven following a production default that was detected (Loveridge et al., 2018). Released on 19th August 2016, the phone would later be recalled on 10th October the same year less than two months after it had been launched. The reason behind the recall of the phone was a defect on the battery and charging systems of the device. Cases of the same overheating from different customers led to more persons becoming wary of purchasing this product (Lee & Mozur 2016). This is in addition to claims that they were heating to the point of catching fire, which was a threat to the lives of many of the customers who had purchased the same. This saw over 2.5 million phones that were in the hands of the suppliers, retailers, and customers recalled for repair. Impact of the Crisis At the time this was happening, the mobile industry was beginning to attract new market entrants and competition at the time was high (Yun et al., 2018). On the one hand, the crisis led to customers losing their trust in the giant mobile manufacturer who at the time, was SAMSUNG GALAXY NOTE7 RECALL 3 fighting to maintain their competitive position against other giants. The damage to their reputation was so bad that they lost a good percentage of their customers on other devices. The Negative Effect of the Crisis The financial impact was the other issue that the company had to deal with. Fault on the over two million devices that had been released into the market would mean a rise in the production and operating costs of the company. The management did not, however, at the time, indicate the amount that would have to be invested into the project of repairing the phones (Lee & Mozur 2016). As they could not hike the price of the phone after repairs, this only meant a rise in the production costs and a drop in the company’s profit margins anticipated from the sale of the note 7. Who Could Have Been Harmed By The Crisis? The fault in the newly introduced gadget, on the one hand, meant that it posed a danger to the customers who had or could have purchased it (Yun et al., 2018). The phone posed a hazardous situation where it could cause even fire endangering the lives of not only the customers but also the people around them. The company itself also received a negative impact on both their reputation and their popularity in the market. This resulted in customers opting for devices from other companies; hence, their market shrunk a good area (Loveridge et al., 2018). Their competitors, therefore, had an added advantage as customers now had a reason not to purchase products from Samsung. It would, therefore, require great intervention measures that would help resolve the situation and earn the loyalty of the customers once more. SAMSUNG GALAXY NOTE7 RECALL References Lee, S., & Mozur, P. (2016, September 2). Samsung to Recall 2.5 Million Galaxy Note 7s over Battery Fires. Retrieved from https://www.nytimes.com/2016/09/03/business/samsung-galaxy-note-battery.html Loveridge, M., Remy, G., Kourra, N., Genieser, R., Barai, A., Lain, M., ... & Ellis, M. (2018). Looking deeper into the Galaxy (Note 7). Batteries, 4(1), 3. Yun, J., Jeon, J., Park, K., & Zhao, X. (2018). Benefits and costs of closed innovation strategy: analysis of Samsung’s Galaxy Note 7 Explosion and withdrawal scandal. Journal of Open Innovation: Technology, Market, and Complexity, 4(3), 20. 4 for the course project, you will use public relations and advertising to help a brand manage a crisis and restore the image of the brand after the crisis. You will conduct research to identify a company that has experienced (or is currently experiencing) a crisis. You will assume the role of the Brand Manager in the midst of the crisis situation, even if the crisis has already ended. Because you are ultimately responsible for the brand, you will play a key role in partnering with other internal and external team members (for example, the corporate relations manager, the public relations agency, and the advertising agency) to launch public relations and advertising campaigns that will address the crisis and restore the company's good name. The goal of the project is to manage the crisis through public relations and launch a new brand-building advertising campaign to improve the perception of your brand. During each module, you will complete tasks to manage the ongoing crisis, regain the trust of your brand's key stakeholders, and restore your brand's reputation. Please note that you will use the same brand/company throughout the duration of the course project, so please choo A public company will be easier to research. Any company that has stock available on a stock exchange is a public com Look for a company on the New York Stock Exchange or the NASDAQ. For help differentiating public companies from ones, see the "Where can I find information on privately-held companies that are not publicly traded?" question in th guide.
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Running head: KEY STAKEHOLDERS AND TARGET AUDIENCES

Key stakeholders and target audiences
Name
Instructor
Course
Date

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KEY STAKEHOLDERS AND TARGET AUDIENCES

2

Key stakeholders and target audiences
Part 1: Target audience
A public relations is an important aspect of an organization or company as it is relied on
to ascertain that the stance of the organization is secured through asserting a positive image to
the community as well as pave a means upon which the organizations can have relationships that
are beneficial. The relationship herein is between groups and public communities that the
organization serves and the organization itself. As a result, the organization or company is able
to boost production, productivity, as well as sales-based solely on the public relations aspect as
opposed to any other relative factor to success (Theaker, 2016; Stakeholder communication,
2010). Success on the other hand, on matters pertaining to ROI, is important as failure to achieve
this may offset the downfall of the company.
Samsung's target audience in light of public relation matters is comprised of its
customers, stockholders, employees, as well as members of the community that is interested in
the company's undertakings. This target audience is essential to Samsung as it is the channel
through which Samsung is able to disseminate relative information about its image, products,
and the services it provides (Theaker, 2016; Stakeholder communication, 2010). These group of
people; target audience, receive information from Samsung regarding the crisis and your
company's response in order to gu...

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