The paper "Market Strategy Report of Samsung Electronic Company" is an outstanding example of a marketing case study. This report examines various marketing strategies of Samsung Electronic Company. The company is at the moment the leading Information Technology Company in the world having produced high profiled smartphones among other electronic products. The report examines the current situation within the company (internal environment) by focusing on strengths, weaknesses, challenges and opportunities. Cell phone brand and quality assurance of the company have been at the forefront and has earned the company a competitive advantage.
However, the transformation brought by compelling technology perhaps endorses a challenge to the company. The paper has also focused on the 7 Ps in providing recommendations on how the company should adopt some factors in order to create a competitive environment and be a leading competitor. Seemingly, the company is on the process of shifting to more strategic focus especially for its products. Introduction This report is about the Samsung Electronics Company. Samsung is a multinational corporate business that has its headquarters located in Samsung town, South Korea. The current contemporary market environment composed of customers with particular needs of technology especially in telecommunications have stimulated the Samsung group to expand the mode of production, particularly on cell phones.
About a decade ago, Samsung’ s position strategy in the market was very strong. It had a market capitalization of about $ 41 billion that made it the largest electronic company in Asia. At that time, Samsung had the highest growth rates from the best selling of Smartphone, Galaxy S, in 2010. This overtook the leading competitor in the market (Sony) which was also a part of customer industry. Today, the company is pretty much present in the global market with hundred and eleven subsidiaries in the form of production, sales, distributions, research and market analysts.
Samsung business divisions are also currently placed in most part of the world including Africa, North and South America, Europe and Asia. This is an amazing part of the company that defines its faster growth in the global market. Customers are normally concerned with the quality of a product, longevity, price as well as features of the products (Hø j & Wise, 2006).
Nevertheless, loyalty plus brand identity are often widened based on the stated factors (Wong & Radel, 2011). Samsung, in this case, has relatively focused on comprehensive market research and analysis for the introduction of high profiled cell phones. However, the blow on global economies is still the main challenge. Therefore, when it comes to quality and prices for Samsung’ s Smartphone it is reasonably fair as compared to other competitors like Sony Electronic Company in the market. The sequential order in terms of growth of Samsung group is, in 2005, Samsung group outdid Sony, in 2006, Business Week ranked Samsung as 20th globally in terms of Smartphone (Galaxy S) innovation, in 2007, BrandFinance ranked Samsung as 1st in the global brand development and recently in 2009, Samsung group went past Siemens to be a leading global technology company. The Current Market Situation of Samsung Electronic Company This section examines the current situations in the internal and external environment of Samsung Electronics Company.
It is important to note that Samsung perhaps may not be the leader in all of its products in the market.
However, cell phones are the leading brands that make Samsung Company a market leader.
Chang, S. (2008). Sony vs. Samsung: the inside story of the electronics giants' battle for global supremacy. Singapore: Wiley.
Deshpande, R. (2001). Using market knowledge. Thousand Oaks, Calif.: Sage Publications.
Høj, J., & Wise, M. (2006). Product Market Competition and Economic Performance in France. Paris: OECD Publishing.
MKTGatHPU. (n.d.). Samsung - International Marketing Strategy. Upload & Share PowerPoint presentations and documents. Retrieved March 30, 2013, from http://www.slideshare.net/MKTGatHPU/samsung-5672631
Michell, T. (2010). Samsung Electronics and the struggle for leadership of the electronics industry. Singapore: Wiley.
Samsung Marketin Strategy. (n.d.). Scribd. Retrieved March 30, 2013, from http://www.scribd.com/doc/25248905/Samsung-Marketin-Strategy
Samsung mobile phone Retrieved from www.krsamsungmobile.com/index.do.
Samsung Sustainability Report (2012). Growth Harmony with People, Society & Environment from www.samsung.com/us/aboutsamsung/sustainability/sustainablemanagement/sustainablemanagement.html
Supplement Business Report 2011.(Report). (2011, December 10). Marketing Weekly News, 2, 77.
SWOT analysis: a tool for making better business decisions. (2008). Washington, D.C.: U.S. Dept. of Agriculture, Risk Management Agency.
The Chartered Institute of Marketing (2009). Marketing and the 7 Ps: A brief summary of marketing and how it works. www.cim.co.uk/marketingresources.
What Samsung's Success Means For Apple - Forbes. (n.d.). Information for the World's Business Leaders - Forbes.com. Retrieved March 31, 2013, from http://www.forbes.com/sites/investor/2012/05/09/what-samsungs-success-means-for-apple/2/
Wong, H. Y., & Radel, K. (2011). Building a marketing plan a complete guide. New York, NY: Business Expert Press.
Zimmer, A., & Stecker, C. (2004). Strategy mix for nonprofit organisations: vehicles for social and labour market integration. New York: Kluwer Academic/Plenum Publishers.