Samsung Corpotate Strategy

Samsung served as the manufacturing industry and international company analyzed. Samsung has been in business for over 70 years and manufactures products for diverse markets, including: digital media, high -tech electronics, home appliances, information technology and telecommunication. Samsung's motto is to "inspire the world and create the future" by leveraging three key strengths: new technology, innovative products and creative solutions.

The key test of whether Samsung can move from a close and gaining dominance is whether it can deliver products that are truly game-changing, start pulling customers away from competitors; it needs to differentiate itself beyond marketing and a bigger screen. But with supply outstripping demand in the electronics industry, Samsung has quickly employed the marketing edge of differentiating strategies and quickly diffused in the current information-driven culture while also looking at new opportunities for profitability and growth. Samsung Company is highly involved in research and design with high fund allocation in it, a strategy that has become a culture for the company over time. The company floods the market with many differentiated products meant to reach diverse markets and developed within a short time. Through this, Samsung gains a competitive advantage and counters on any moves by its competitors with its portfolio of brands (Samsung Electronics, 2015). Samsung makes everything from chips to screens at its own processing plants, permitting it to change outlines and pump out new items at a quick pace. From its administration strategists point of view, Samsung's execution is imperative as “it is the result of a very carefully crafted strategy following an evolutionary learning process from simple to more complex technologies, and taking advantage of synergy effects by synchronizing the strategy variables of different dimensions, all supported by Samsung’s highly disciplined corporate culture” (Sang M Lee 2003). Marketing and branding strategies of Samsung have played a basic part in its prosperity. One approach to comprehend why Samsung is so successful is to assess the brand and its advertising techniques in

2. Excellence in engineering and producing hardware parts and consumer electronics. Samsung is the number 1 by market share in televisions and mobile phones sales and some of the hardware parts (processors, memory chips, etc.). This was largely achieved due to excellence in engineering and both efficient and effective production.

With all the changes and devlopment in market and technologies, Samsung has a respected top position within them. Its products have not only from the finest products but the strategies practiced within its organization is a good example of a hard driven company with remarkable strategies and approaches. Samsung succeeded in concerning the technology market. Its styles in senior marketers affected the innovation by pushing its participations and involving its employees in the process of development of the

Critically analyze and discuss the strategy adopted by Samsung to achieve global competitive Advantage. (500 words)

Climbing the Global Market with new technology, innovative and creative products, Samsung has secured a position as global market leader in key markets such as smartphones, TV’s, monitors and digital appliances.

Samsung set aside around US$ 126 million for its design initiatives till 2000. After that Samsung sent 17 designers to the Art Center College of Design to broaden their ideas about design. Its determination to excel in design inspired the government of South Korea to announce the beginning of a “Design Era” in the country, in an effort to encourage businesses to recognize the importance of design and use it as a competitive advantage. Design plays a significant role to add big value to the Samsung. Earlier most electronics products were expensive and not within the reach of everyone. Also purchase decisions were based on price, features, and quality, over time, products like TVs, cameras & mobile became cheap price and within the reach of a people. Quality was no longer a differentiator, and most brands offered similar products of pricing and features. Most of consumer electronics companies were those accepted the importance of design, example Sony assume design is the only thing that differentiates one product from the other in the marketplace because most of products of our competitors will have same price, performance and features. Good design allowed Samsung to command a price premium, For example, its mobile phones had the highest average unit sale price (US$ 215) in 2002 in their category. It was believed that the company was able to achieve the goal because its mobile phones featured a combination of technology and good design. It’s trying to connect with its customers by introducing products with appealing designs. In 2006 Q1 & Q2, Samsung was the number one company in terms of worldwide TV sales. Samsung chairman transform his company from Electronics Company into an innovator by using innovative

Samsung truly caters to their consumers by making product consumers use for everyday life. Samsung continues to maintain brand loyalty with consumers

Samsung is one of the world’s premium electronics manufactures. The estimated value of Samsung brand had risen from US$6.37 billion in 2001 to US$10.85 billion in 2003. A major factor behind this impressive growth had been Samsung’s effort to redefine itself as a vendor of cutting-edge, “gee-whiz” consumer technology. Samsung believed that repositioning the brand is a vital to the company’s future success.

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 is considered as one of the best smart phone and mobile phone manufacturer against other manufacturers. It is also the world’s largest manufacturer of televisions as well as LCD panels. This is because of its manufacturing and its marketing expertise. Samsung currently operates in 80 countries and sells over more than 100 products.

Samsung was founded in 1969 in Suwon, Korea. Since then it has become a global leader in information technology, with more than 200 subsidiaries under its belt. The firm deals in electronics ranging from televisions, refrigerators, monitors, washing machines, tablets and smartphones. Moreover, Samsung provides electronic components, for instance, non-memory semiconductors and Dynamic Random-Access Memory (DRAM). Even though the company has been rocked with misfortunes in its mobile telecommunication platforms, it promises quality products and services that lead to better and smarter lifestyles. The company is at the forefront of championing for ground-breaking innovations true to its mantra and vision 2020 of ‘Inspiring the World, Creating the Future’ (Samsung Electronics, 2017).

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.

Samsung is widely recognized technology company, and well known for its home theater and consumer electronics, such as its smartphones. At Samsung’s website (2016) under the Values & Philosophy section, the company informs the public that:

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.