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Company Background: Samsung is a South Korean multinational company those starting its business as a small trading company and right now becoming world largest corporation. The company deals with its business in several sectors such as advance technology, finance, petrochemical, semiconductors, plant construction, skyscraper, medicine, fashion, hotels, chemical and others. The company was established in 1969 in Suwon, South Korea and known globally for its electronic products (Kelly, 2011). The company is manufacturing several latest technologies, electronic appliances such as mobile phones, tablets, laptops, TVs, refrigerators, air conditioners, washers and other products. The company runs its operations and sales its products in 61 countries with approx 160,000 employees in all over the world (SAMSUNG, 2014). Moreover, the company acquired the position of the world biggest IT maker in 2009 by beating the Hewlett-Packard (HP) previous leader. Its sales revenue in the segment of LCD and LED is the highest in the world. Furthermore, Samsung also becomes world leader in the segment of tablets, mobile phones and gadgets.
History: Company started its business as a Samsung Electronics Industry Co Ltd in 1969 and introduced some electronic products such as Black-and-white TVs, washing machine and refrigerator from 1960 to 1975. The worldwide establishment and expansion of the business and operations of the company started in 90 as entered in the Asia, Europe and American region countries. At the present time, the company is manufacturing world class and high quality smart phones, video cameras, TVs, LCD or LED and keeping its eyes on the current market requirement. Moreover, the company is now manufacturing world class and latest hardware and software, smart phones and 3G dives to compete its biggest competitors such as Nokia, Apple, and BlackBerry, Micromax etc. The company is looking for fulfils the current market requirement and demand of the customers (Chang, 2011). Its innovative, high quality and world class products help us to become a leader in these segments and make position in the global market.
Strengths: Samsung is the one of the biggest company in the worldwide and good brand image of the company are the strength of it. The Business week rated the company as the 20s in out of 100s world brand and second in electronic segment and top in the UK. The company in the electronic segments is the largest manufacture and sealers of memory chip and second largest in semiconductors. Moreover, the company is the world’s largest in size of the LCD and LED manufacturer. In addition, Samsung is the top position in the cell phone segment in worldwide and also develop its position on the laptop and the computer industry. It is well known company in the worldwide (Michell, 2010). Furthermore, heavy assets in the technology segment, more technology patents and more talented staff help it to maintain its position in the international market.
Weakness: Weakness of the company is the lack of segmentations, and differentiation of products. Samsung is not differentiating its products and segments that impacted on the success or growth of the other segments and industry. Moreover, the company main weakness is it only focused on technology and electronic segments and has not considered on plant construction, fashion, medicine, chemical, petrochemical, hotels and finance segment. In addition, the company is developing different new models of smart phones and laptops, but the prices of its products are higher than other regional and international competitors (Butow & Watson, 2013). Furthermore, the design of its products is less attractive than competitors' products is also the weakness of Samsung.
Opportunities: The main opportunities of Samsung are the entry in the other markets and countries in the region of Asia, Africa and America. The company would look to enter in the other countries to enhance its sales and revenue. Moreover, Samsung would focus on the other industries to enhance the overall revenue of the group. Moreover, a lot of opportunities in electronic and software segments through innovate technology and introduce latest technological phones, tablets and laptops (Krishnamacharyulu, 2011). Through providing the latest technologies, latest hardware and software phones, laptops and tablets the company will improve its position in the global competitive market.
Threats: The high competitions in the smart phones, tablets and laptops segments are created threat of the Samsung. Nokia, Apple, Sony Ericsson and BlackBerry are the main competitors of the company in the Smartphone and tablet segments. Moreover, HP, Dell and Panasonic are the major competitors in the laptops and computer industry and popular in the world will impact on the revenue and profit of a Samsung (SAMSUNG, 2014). In addition, other companies leading in the patent of new technology and innovation in software or hardware such as Apple is impacting on its position in the global market.
Objective: Marketing objective of the Samsung that the future of electronics is inspiring the world and create the future. The objective of the company is to lead innovations in technology, solution and product that inspire communities all over the world to create a better world (SAMSUNG, 2014). The company is dedicated to offering new values and standards in the industry and people as well as fulfil the values of its employees, partners and clients. Samsung Electronics wants to produce a future that is promising and join the different countries people together through technology. Moreover, the Samsung objective of 2020 is to achieve annual sales of USD 400 billion and develop brand value of Samsung Electronics among the top five in the world. Samsung main pillars of organizational culture are creativity, partnership and great people. The company mainly focused on delivering the world’s best quality products and services through innovative process and operational excellence (Michell, 2010). Moreover, Samsung looks forward in healthcare and biotechnology areas to exploring its business in these segments. The company will look for continuous improve its capacity, competitiveness and innovation. Although, Secondary market research is re-use of a second party of any data collected by a first party or parties. So the above discussion explains a manner of secondary market research.
Goal: Samsung has decided its quantitative and qualitative goals for futures. The company quantitative goal is attained the USD 400 billion figure of sales and become No.1 in IT industry at global level (Butow & Watson, 2013). In addition, Samsung qualitative goals are known as a creative leader in the world and becoming position in top 10 world’s best workplaces that attracts the world’s best talented people. Further marketing mix like –price, promotion, product, place have a good way to reach the target market by the selecting of above marketing goals.
The Key method of the Company for implementing of the marketing mix: Product, price, promotion and place these are four elements of the marketing mix. So that customers always demand of the products and services those are attracting them. Demand of the customers is changed regularly due to new products available in the market. The customers take the decision of purchasing a product or brand on the basis of post purchase evaluations. Samsung research team has estimated the factors those influences the buying behaviour of the customers. Samsung made attractive and careful design, electronic products and gadgets as well as different features to attract the more customers in international markets (Chang, 2011). Further, it provides cheap price for product to influence the buying behaviour of the customers. Moreover, it adopts different kinds of marketing tactics and strategies for influencing customers buying decisions and it does advertisement for increase sales and provides labour & an employee friendly environment where they can work in a team.
From the above discussion, it can be concluded that clear objective, mission and goals policy as well as high ability to adopt the technology of Samsung helps it to maintain its competitive position in the worldwide market.
Brown, K. & Osborne, S.P. (2012). Managing Change and Innovation in Public Service Organizations. UK: Routledge.
Butow, E. & Watson, L. (2013). My Samsung Galaxy Tab 3. Que Publishing.
Chang, S. (2011). Sony vs Samsung: The Inside Story of the Electronics Giants' Battle For Global Supremacy. USA: John Wiley & Sons.
Hall, D. (2007). Business Studies. SA: Pearson Education.
Kelly, J.F. (2011). Sams Teach Yourself Samsung GALAXY Tab in 10 Minutes. USA: Pearson Education.
Krishnamacharyulu, C.S.G. (2011). Rural Marketing: Text And Cases. SA: Pearson Education.
Michell, T. (2010). Samsung Electronics: And the Struggle For Leadership of the Electronics Industry. Singapore: John Wiley & Sons.
Röhm, S. (2007). VW Phaeton - Did Zeus' Anger Hit Sales of Volkswagen's Luxury Car. Germany: GRIN Verlag.
SAMSUNG. (2014). About Samsung. Retrieved from: http://www.samsung.com/in/aboutsamsung/
SAMSUNG. (2014). Vision 2020. Retrieved from: http://www.samsung.com/in/aboutsamsung/samsungelectronics/vision2020.html
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