Swot Analysis Of Samsung

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.

Established in 1938, Samsung is one of the business pioneers in a huge number of ventures from power generation through to advanced mobile phones (Kovach, 2013). Each of their specialty units hold fast to a similar vision of turning into the favored provider of items or potentially administrations to their customers, yet the strategies used to accomplish this vision are custom-made to suit the particular market concentrate, in this way showing the flexibility of the organization.

In order to satisfy all the customers’ preferences and different requirements companies use the segmentation process to identify and satisfythe different customer groups. In mass MARKETING, same strategies and marketing mix can be applied to all the customers where as in target marketing the strategies can be made based on different categories of customers. Thus, targeting market can provide effective results to an organization.

The internationally recognized South Korean electronics company, Samsung Group, is accredited in the Fortune global top company but 2.5 decades prior, the company was initially just a small domestic grocery store (Samsung, 2017; Lifewire, 2017). The company’s product quality, design, pricing, and technology has not always been known as it is known in the past decade. Founder, Lee Byung -chull, diversified his products from food, textile, building, wool, insurance, security, retail and finally to the success of electronics in the 1960s; before becoming one of the top five most powerful Asian company in the world. Samsung’s history is particularly longer than most companies but the development towards their success is intriguing; revealing multiple setbacks including the Korean War, and a long-occurring transformation before championing one of the best products in the electronics industry. Eventually, Samsung reached global success, and through the Asian Tortoise Route, the brand Samsung has become a prominent face of South Korea. The Asian Tortoise Route was pioneered by Japanese companies namely Toyota, Honda,

As South Korea’s largest conglomerate, Samsung includes Samsung Electronics, Samsung Heavy Industries, and Samsung Engineering & Construction. Started in 1938 as a company that produced agricultural products, the company began to focus on shipbuilding, chemicals, and textiles in 1970. Since after Samsung Electronics Company (SEC) was founded in 1969, Samsung acquired a semiconductor business and supplied global markets with massive quantities of commodity products. With the transformation that was led by the leadership of SEC Chairman Kun Hee Lee, Samsung rebuilt its image as a global business leader. Following the chairman’s new management initiative, Samsung is now in a stage of investing in innovative and premium products to

Strength: SAMSUNG ELECTRONIC introducing and marketing abilities, which improve item mindfulness and make more based interest for organization's items. New Samsung Digital yearly publicizing price range came to $1.2 billion dollars in 2014, increasing more than twice from $501 thousand during 2009. Their marketing price is, without question, not the most important when in comparison with rivals' financial programs, but rather it’s the particular scenario that is used the most successfully. New Samsung Digital is an effective organization. Provides of its iPod mp3 gamer had prolonged its second one fourth advantages to $320. The good item knowing had furthermore prolonged provides of Mac pc PCs. In 2005 New Samsung Digital won a real scenario that limited Weblog authors to name the wellsprings of information that acquired the distribution of new Samsung EBooks.

According to Wikipedia Encyclopedia1, SAMSUNG is a South Korean multinational corporation headquartered in Samsung Town, Seoul. It consists of several auxiliaries and associated businesses, most of them amalgamated under the Samsung brand, and it is the largest South Korean business corporation. 3On March 1 1938, founding chairman Byung-Chull Lee started a business in Daegu, Korea focused principally on trade export, selling dried Korean fish, vegetables, and fruit to Manchuria and Beijing. In little more than a decade, Samsung which means “three stars” would have its own flour mills and confectionary machines, its own manufacturing and sales operations. From these modest beginnings, Samsung would ultimately advance to become the modern

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.

Company has established an effective relationship with its stakeholders and treating everyone through diverse techniques. Samsung is periodically meeting the demands of its shareholders where significant judgments are made and problems are discussed. For instance, strengthened compliance management organization has started and operated a healthcare study center. Company has a direct connection with their consumers and employees through making client satisfaction surveys to make a healthier costumer relation service. It also is creating employee surveys that made the company to improve the work shift system to reduce work ours. Samsung has also contributed in government policy formulation, which assisted to make an Energy management system that decreases its energy consumption by 10% (Samsung.com (3), 2015).

As the cost of product increases, the buyer is unable to come up with the money to buy the product, so the buyer will buy the product in lesser quantity and ultimately affecting the demand of that product. If prices increase, user will try to find the substitute for that product at lower prices and switch to alternative of that product. So, a person can affect the demand factors. For managerial decision making, prime focus is on market demand. Market demand is the aggregate of the quantities of the product demanded by all individual over a specified given time period. Market demand may be influenced by distribution of wealth and income in the community, general standard of living, and growth of the population, age structure/ratio of the population, future expectations, and level of taxation. On the other hand, there is also individual demand which is a single consuming entity’s demand. There are several factors that determine market demand i.e. income in the community, standard of living, price of goods and price of commentary of substitute of a good. Samsung’s phones and TVs are considered as consumer goods. Therefore in electronic industry, the main purpose for purchasing electronic devices is to satisfy some sort of a need. Samsung products are used by the business people in firms as well as by individuals for individual purposes. People often use the TV for

Samsung was established by Lee Byung-chul in 1938 as an exchanging organization. Throughout the following three decades, the gathering differentiated into zones including sustenance preparing, materials, protection, securities and retail. Samsung entered the gadgets business in the late 1960s and the development and shipbuilding commercial enterprises in the mid-1970s; these zones would drive its ensuing development. Taking after Lee 's passing in 1987, Samsung was isolated into four business bunches – Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Since 1990s, Samsung has progressively globalized its exercises and hardware, especially cell telephones and semiconductors, have turned into its most vital wellspring of wage.

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.

The company has set up its production facilities in low costs countries. This allows producing goods with low production cost and benefits Samsung as it can offer lower price and earn higher

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.