'Samsung Gadgets Co. , Ltd, is a worldwide innovator in digital marketing and digital convergence technology, 'Samsung is the planet largest company getting the highest brand value. Samsung is operating in more than 50 countries on the globe. The head office of Samsung is in the capital of Seoul, South Korea. The chairman of the Samsung group is Mr KUN HEE LEE. The name of Samsung practically means 'tristar' in Korean. Nowadays Samsung invests in the buldings groundwork and concrete sector under the samsung brand. The term Samsung electric is written in white on a blue backdrop. It represents stability, reliability and warmth. Samsung manufacturers electronic digital goods such as Television sets, computers, notebooks, washers, microwaves, usb devices mobiles, lcds, surveillance cameras, compact disk players etc. The other creation of Samsung organizations is in construction sector such as in real estate but it focuses on electronic digital log, electronic pipe, tube pipe, mobile phone log (which each is made by concrete and iron). Samsung is the best brand getting the medium cost value. Most of the Samsung electronic digital company have been migrated in china and other asian countries for example Vietnam, the Phillipines, and India. The reasons behind its transfer were low labour and recycleables costs. The said parts of asia are way much cheaper than US, Canada and UK.
The brand eyesight of samsung is to completely different and unique from other brands like: Sony, LG and Panasonic. 'Leading the digital convergence revolution' is the eye-sight of the Samsung brand. This research study is totally predicated on the electronics side of the Samsung brand. The term Samsung is written in korean dialect ' ??'
Samsung is the 3rd largest Southern Korean company which was established in 1969 as the flagship company of the Samsung group or Samsung organization. Samsung achieved fast expansion through exports. Samsung made a decision to venture in to the tv market. It started out production of dark-colored and white television set sets for the neighborhood marketplaces in 1972. However, Samsung recognized that it may become a global brand. They looked and analized the global market opportunities and challanges by using customers and employees feedbacks. Samsung made a decision to change the idea of its brand. It experienced to change the perceptions of consumer with a new brand image. Through the olympics in Seoul, South Korea in 1988, Samsung made a decision to become the official sponsor for the cellular technology in order to relate its image with global sports activities brand. Through the help of promotion and physical research Samsung happens to be recognized as a worldwide brand. Every country especially the member of olympic game titles then, now is aware of the brand. In this way, Samsung was successful in changing the concept of its brand image and now has a good customer basic. Nowadays, Samsung has 25 production base worldwide and even more than fifty sales subsidiaries in nearly about 50 countries. Their global strategy involves eight main parts Southeast Asia, Central Asia, Africa, and Middle East, China, North America, Europe and Latin America.
Strategies of samsung electronics/ Alternatives strategies
Strategy is long-term planning to achieve the goals. It is a roadmap of future actions. After market researching the global market, Samsung gets a lot of responses from its customer and employees. Samsung needs to improve its products promotional activities, customer support and online business since it is vital to meet its costumers. Samsung proper growth plan is designed to satisfy the needs ands desires of customers, targets of employees and other stakeholders. Relating to its proper plans, it requires to focus all its resources on increasing technological innovation and market talk about growth but the industry's infrastructure and labour skills at that moment were too unfavourable for Samsung to accomplish these and become competitive on earth market. In order to attain this, Samsung reinvented itself by mostly keeping on system using its customer's needs and wants.
Swot analysis
Swot examination is the most crucial and first level of planning. It really is a feedback device to make new approaches for any company. Strengths, Weaknesses, Opportunites and Hazards will be the four components of a swot examination. Weaknesses and Strengths are corelated and examines the internal part of the business analysis whereas Opportunities and Threats deals with the exterior environment of business procedure.
Weaknesses and talents refer to facet of marketing, finance, production or organisational structure. Swot research helps clarifies the targets of the business Samsung gadgets key strength is it's variety in product, good brand image. Samsung consumer electronics is an integral part of the samsung group. These are one of the leading consumer electronics brand on the planet. The Headquarter of Samsung is Seoul, South Korea and uses about 150, 000 people. The business recorded revenues of KRW 121, 294, 319 million or ' 75, 981 million through the financial yr (FY) ended Dec 2008, which is an increase of 23. 1% than FY 2007. However, the operating earnings of the company presents another type of picture even though its sales produce two times digit growth rate. It is only KRW 6, 031, 863 million or '3778 million during FY2008, which is a loss of 25. 5% than FY 2007.
Strengths
Samsung's electronic talents are:
1) A solid global brand. It's the leading consumers consumer electronics brand on the planet. THE PRODUCT QUALITY is good. They assure the same quality and range worldwide.
2) It's perspective is leading the digital convergence resolutions. This means they want to be the first choice of the electronic digital items worldwide to be able to get the goodwell as well.
3)A solid concept. They are offering good design, good quality as well medium prices
4) Diversity product. Samsung's products has predicated on diversity. It means they produce same items in several way for the different kind of individuals for different countries.
5) Technology. Tone call is clear and reckoned by customers as using a good value for his or her money; and the designof samsung's electronics technology is high. We are able to order right quality at the right price.
6) Good reputation among customers.
Weaknesses
Weakness for samsung are:
1) The global range of Samsung's procedure means they have serious implication on its management system. To control a business in just one location is easy but for an internationally operation is complicated and problematic.
2) Bottom on the two times digit decrease of its operating profit from the other year, it indicates that its operating cost acquired also went up by more than 20%. Its procedure was not effecient enough to deliver a good profit.
3) Samsung as a Southern Korean company is reckoned by most customer as only next to any Japanese company since Japan is always considered as a higher tech country on earth.
Opportunities
A business uses its talents to take benefit of the opportunities that occur, opportunities for samsung are :
1) Increases mobile and computer market
2) International extension.
3) Appearance of new technologies
4) A solid customer demand and good design.
Threats
If any company is aware of possible external risks, It could be addressed by generating new ideas to counter it or may use a particular durability to defend against threats on the market. The risks on Samsung are as follows:
1) Changing social tendencies: It is looking to build online help guide customer to a far more comfortable life. The web business and website advertising requires cost and any change add needs improving staff competencies by training.
2) Strong competetion: Samsung encounters strong competition from the other korean company such as LG, KTF, SK besides from its foriegn opponents like Sony Panasonic.
3) New laws and increeased trade barrier.
Samsung has worldwide market. It's marketing benifit and selling percentage has is determined by PESTEL. Different country has different culture, different environment, different financial condition, poltical situation, public factors of market and different plan. In europen country samsung electronic market is heaghly boosts in thease day then the other growing countries such as southern parts of asia, middle east and african countries. samsung expand sponsorship of olympic games until 2016. samsung also sponsorship with english bigest football clube chealse. They have got sponsor other sports activities and clubes also. They wishes to their immage and brand value has been undertaking worldwide market like olympic theam.
Marketing mix of Samsung
The marketing mix is the tools available to a company to get the a reaction to its marketplace with regards to its marketing aims. Marketing blend is the combo of 7ps. It means price, place, promotion, product, people, process and physical data and right product, right place, right price, right time and right way to be the components of marketing blend. It's manufactures veriety of designs which is immediately matter to customer satisfication. It's quality is high, packigeig branding and having enough warranties. Samsung technology is high, value. Samsung product electric goods such as TVS, Computer, notebook, washing mechine, microwave, usb device, mobile, I dock, lcd, camera, compact disc player etc. The other productions of samsung groups on concret sector kind of electronics goods such as, electronic log, electronic tube, tube pipe, telephone log(which all are created by concret and flat iron). Samsung is the highest brand getting the realistic price.
Samsungs price is neither high nor low, This means the purchase price is affortable. Samsung offers plans for all new products, In ideal festivales, new years and its own aniversity, which helps to stimulated psychologically to customer. Sumsung has recently started its web business which help to extend global marketing. Using multimedia, posters and information papers it has expanded its marketing. Selecting the location is not best since it is challenging to discover its store in every city.
But every customer can purchase its product easily because of the technology, that has used by sumsung the recent years. Samsung clarify its eye-sight as well as quest of marketing strategy by the next clarifications of four ps.
Product
-Samsung's product range worldwide included CTVs, audio and video products,
Information technology products, cell phones and home appliances. Its product range protected all the categories in the buyer electronics and home appliances.
Place
-Now per day samsung brands have 25 development base worldwide and more then fifty sales subsidiaries in near about 50 countries. Their global strategy requires eight main parts.
- Samsung also markets its product through indie retailers.
- Customers can easily see and manage products they are considering buying.
Price
-Pricing also appeared to have played a substantial role in Samsung's success.
-Samsung looking for its services accessible to as many people as it can be.
- It offers a whole lot of pricing buildings to match different customers organizations.
- The price plans are available every month basis as well as prepay option.
Promotion
-Advertising on Tv set, in newspapers and in other mass media outlets gets to large people and spreads the brand image and the meaning very effectively. This is also called above the line promotion.
Below the line
- Every store has special offers, promotions and printing of sale posters to catch the attention of those inside the store to buy.
- The business develop better relations with the public in order to clarify new products.
Recommendations:
To control standard and quality could be quite hard. The global business is source chain offering consumer views of it's products. It is also very important to recruitment and selection process
1) They should be increase mobile and computer marketplaces.
2) They should increase international expansion.
3) They should increase web business and give more details.
4) The scale and scale of globel business: It ought to be improve the size and scale of the globel business of samsung's digital brands.
Implementation plan
Activity Apr 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Jan 11 Feb 11 Mar 11
Advertisment
Sales promotion
Marketing Research
New Product Launching
Strategic collaboration with other Firms
. Conclusion
Sumsung is a famous global company. They have manufactured consumer electronics goods and other concreat goods. It is a wellknown brand because of its service, excellent employees, Innovative reliable product. A accountable approach to business and global citizenship and globlelisation with associates and customers. Samsung is taking the world in intensifying path for new generations. The quest of samsung is to be the best 'Digital electronic digital company'. It complys with low and honest standard cares environmental health insurance and safety, Mantain a clean planned culture value and esteem to customer share holders, steakholders, employees and socially responsiable co- oppertative residents. So It is trying to be the best brand in neuro-scientific electronices materials in the world by increasing its size, price quality, capasity or ability of the devices.
