Marketing Strategy Of Samsung: Marketing Approach By Samsung

The beating heart of Split, Croatia holds the UNESCO Palace of Diocletian. The ancient Roman behemoth was built in between the 3rd and 4th century by retired Emperor Diocletian. Fortunately for us, he didn’t use his full name - Gaius Aurelius Valerius Diocletianus. The Diocletian Palace is special because it reflects transitional architecture from Greek occupation to Byzantine rule. The seven-acre fortress looks over the sparkling Adriatic Sea and is sheltered by Mount Mosor. My best suggestion lose yourself in the narrow, granite alley ways. The palace reminds me of walking in an Arizona slot canyon. Steep, claustrophobic walls that work like a maze. Enter for free through one of four gates – Golden, Silver, Iron, and Bronze.

Samsung electronics has gained its competitive advantage from doing business for years in the audiovisual industry. At first, Samsung was not a strong competitor to the electronics giants at that time, such as Sony, Toshiba, and Panasonic. In fact, Samsung introduced its products by producing similar products at a lower price in order to survive within the

Opportunities: The major opportunities of Samsung are the entry within the different markets and countries in the region of Asia, Africa and America. The corporate would peek to enter in the different countries to supplement its sales and revenue. Moreover, Samsung would target on the other industries to raise the gross revenue of the group. Moreover, a lot of opportunities in electronic and software section 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 corporate will improve its position in the internatioal competitive market.

In addition, I would seek to analyze the specific innovative strategies adopted by Samsung in order to gain a clear understanding and appreciation for its ability to foster proper change management initiatives within its organization, and utilize effectively research and development undertakings in order to achieve a robust competitive advantage, and also secure sustainability and continuous profitability.

By the end of 2012, Samsung electronics become the largest producer of televisions and mobile phone. In order to achieve the success and the dramatic rise in consumer electronics sector, the company initiated new methods to innovate and create high quality products .

Samsung products range from mobile devices, TV, audio and video, home appliances, cameras, PC and peripherals and print solutions (Samsung 2014). This essay will predominantly look closely at Samsung’s mobile phones market.

The worldwide economy has been growing rapidly again since 2002, after the recession in the US economy which had a huge impact on the global economy. People have more money to spend on luxury items. Emergent markets in China and the rest of Asia are also great opportunities for the manufacturers of high-end consumer electronics. The economy here is growing rapidly every year and the culture is becoming more “westernized”. This new direction the economy is moving in, is resulting in more capitalistic view of these countries. Therefore there are more potential buyers for the mobile phone manufacturers, since the mobile phone is associated with a status symbol in these emerging countries as well.

Samsung is a well-known and acknowledged industry leader in the digital arena. The digital powerhouse strives to create superior products and services hoping to improve the lives of their customers around the world. Samsung has diversified their company products from consumer electronics, to telecommunications, home appliances and now a smart car. Samsung has shown that the successful diversification that it has been able to integrate into its operations has become an essential element in the company’s strategic plans. Samsung’s technology products include the screen technology, TVs, batteries and chip design. It also has manufacturing operations such as general manufacturing which comprises semiconductors and components, system production which involves applications and software and the device assembly packaging like the label assembly and batteries (Hong, 2012).

In the modern world of technology, many different companies are attempting to secure their own ground in a particular market. Many companies work in many tech fields & some company focus on software, some on mobile phones, others on television but one of the most recognizable names in the technology field is that of Samsung.

Samsung Company is a world leader in digital technology innovation. Samsung believes in innovation and continue to look after the new technology to grow their business. I believed that company wanted to build a market in which customers are more loyal to the Samsung brand and trust in the name of Samsung.

As mentioned earlier we highlighted the importance of collaboration with Microsoft and Google for cutting edge technological software integration with hardware. By using collective efforts and creating a bigger brand consciousness through its members Samsung can reach far more consumers than Apple. Also making deals with large retail and whole sale chains would be highly beneficial for placing its products into a position where consumers may interact with its products more fluently( like Wal-Mart Carrefour, target etc)

In today’s world due to globalization, change is constant and innovation is very important for a company’s survival. And Samsung have done that for 70 years, they set their sights on the future, predicting market needs and demands so that they can achieve long term success.

Samsung focus on design, as they want to be the Marcedes of home electronics. Samsung concentrate less on cost saving and more on coming up with unique products.

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.

Today Samsung has evolved into a group of companies unmatched by others in its range of industries and performance. It is now globally focused and responsive to the needs of each market, and more committed than ever to true innovation. The group’s three core business sectors are electronics, finance and trade and services.