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Samsung Electronics Company
Transcript of Samsung Electronics Company
to the needs of the regions. 2.Poor marketing strategy resulting from different message or logo in regions where Samsung was sold. 3.Management’s wrong perception of
marketing function. 4.Samsung is a hardware leader but has too much of dependence for software from other parties. 5.Samsung’s lack of strong identity
in other countries. 1.Samsung is the official ‘Olympic partner’ for the 2000 Sydney Olympic Games, 2002 Winter Olympic Games, 2004 Summer Games in Athens, 2006 Winter Games in Torino, and the 2008 Summer Games in Beijing. 2.Customers from other countries find Samsung delightful and affordable 3.Samsung stood poised to become a
leader in the era of digital convergence. 4.In China there are prospective five million customers signing up for cellular telephone
service each month. 5.In Latin America, mobile
internet usage was projected
to increase to include 47 million people by 2005. 1.Threats from Chinese products 2.Samsung has wide variety of product lines, failure of one product line will have impact on the other and will result in brand dilution. 3.Aggressive competitors, including
Sony, Nokia, Motorola, and Panasonic. 4.Brands such as Apple and Sony focuses on both
software and hardware development. SWOT Tows Matrix Strengths:
1.Samsung took advantage of the growing economy of Asian market by setting up manufacturing plant in India there by reducing logistics and supply chain costs. (S1)
2.Samsung enjoys the widest range of product portfolio which includes Mobile phone, TV/Audio/Video, Camera, camcorder, Home appliance, pc, peripherals, printer, memory cards and other accessories. (S2)
3.Samsung has dominated the market in South Korea in almost all its product line.
4.Samsung has large investments on research and development. (S4)
5.Samsung operates using digital technology and product diversification strategy differentiated the company from its competitors. (S3) Weaknesses:
1. Allocation of marketing budget is not proportional to the needs of the regions. (W1)
2. Poor marketing strategy resulting from different message or logo in regions where Samsung was sold. (W2)
3. Management’s wrong perception of marketing function. (W3)
4. Samsung is a hardware leader but has too much of dependence for software from other parties. (W4)
5. Samsung’s lack of strong brand identity in other countries. Maxi-Maxi
1. Diversify in the industry of telecommunication in South Korea. (S3,O3)
2. Acquire or build showcase retail outlet in big cities in USA, China, and Russia. (S2,S5,O2,O4,05) Opportunities:
1.Samsung is the official ‘Olympic partner’ for the 2000 Sydney Olympic Games, 2002 Winter Olympic Games, 2004 Summer Games in Athens, 2006 Winter Games in Torino, and the 2008 Summer Games in Beijing. (O1)
2.Customers from other countries find Samsung delightful and affordable. (O2)
3.Samsung stood poised to become a leader in the era of digital convergence. (O3)
4.In China there are prospective five million customers signing up for cellular telephone service each month.
5.In Latin America, mobile internet usage was projected to increase to include 47 million people by 2005. Mini-Maxi
1.Introduce Samsung’s products through sponsorship on Olympic, Winter and Summer Games to enhance brand awareness and increase sales. (W2, O1)
2.Stop operations in such as Germany and countries in North America. (W1,W5,O2,O4,O5) Threats:
1. Threats from Chinese products. (T1)
2. Samsung has wide variety of product lines, failure of one product line will have impact on the other and will result in brand dilution. (T2)
3. Aggressive competitors, including Sony, Nokia, Motorola, and Panasonic. (T3)
4. Brands such as Apple and Sony focuses on both software and hardware development. (T4) Maxi-Mini
1.Improve digital technology and product differentiation to tailor their products, marketing and other activities to needs of the specific market. (S3,S5,T2,T3)
2.Innovate or modify mobile cell phones to cater the diversified preferences of the different nationalities. (S2,S4,S5,T3 T1) Mini-Mini
1.Diversify the business on software industry in order to compete with close rivals. (W4,T3,T4)
2.Set up its own advertisement company that will take charge of its global marketing and advertisement. (W1,W2,W3,T1,T2) Alternative Courses of Action 1.Improve or modify its mobile cellphone products into something that will meet the different preferences of the different nationalities. Advantages:
•More customers will patronize Samsung.
•Can create a solid image to Samsung, making it more identifiable.
•It can aid to the domestic problem regarding customer preferences.
•It will be another breakthrough for Samsung, if they could create such mobile cellphone that can cater the needs of different nationalities. Disadvantages:
•Large capital investment.
•May not be attainable.
•Integrating the different preferences of each nationality into one product is a hard task full of uncertainty. 2.Diversify the business in Software Industry. Advantages:
•No need for Samsung to acquire software products from other companies.
•This will close down the competition between Samsung and other competitors who offers both hardware and software.
•It can create customer loyalty.
•It can enhance the marketability of hardware product of Samsung that requires software application.
•This will add up to Samsungs variety of product line and subsidiary businesses, making Samsung a bigger Company. Disadvantages:
•Very costly to implement in terms of research and development, labour force, marketing, and other aspects involve.
•Green pastures from Software products are uncertain due to different factors like competition.
•Samsung might not meet the software needs of the industry. 3.Diversify in telecommunication industry
in South Korea. Advantages:
•Will strengthen domestic image of Samsung, making it more popular.
•Making way to possible total domination of Samsung in South Korea.
•Can provide employment to people of South Korean’s and other Nationalities.
•It will benefit the government and the economy in terms of investment and tax. Disadvantages:
•Large capital outlay will be incurred in terms of Research and development, marketing, labor force, implementation, and other aspect involve.
•Koreans may wrongly perceive this act into selfishness.
• Even though Koreans admire and patronize Samsung’s products, still there is a possibility that they will not respond with the same enthusiasm to the telecommunication service of Samsung. Recommendation A. Recommended Strategy
One of the products of Samsung that has large market share is Mobile Cellphones. Moreover, cellphones are almost near to becoming a necessity all around the world. Basing on this idea, we recommend the implementation of the first alternative. We think that Samsung with its status as an “emerging electronic company with unstable brand identity all around the world” should concentrate in making their Mobile cellphones into something unique and more high-tech that will serve as there weapon to make a breakthrough in the electronic industry as a more strong and stable competitor. Product Strategy Team:
1.The team shall conduct a market research and gather and analyzed information on competitors and different customer’s preferences.
2.Make a “killer’ new feature concepts.
3.Innovation or modification of Samsung cellphones shall still adhere to Samsung’s standardization goal.
4.Features of Samsung’s cellphones should be unique in all possible way from other competitors.
5.Quality control should be greatly stress out. Policies 6.The company shall hire new employees that will aid the existing production team.
7.Employees shall undergo necessary orientation and training.
8.Awards and benefits shall be given to any employee who exhibits the best performance in all aspect of her duty.
9.Equipment and other things necessary shall be either purchase or lease depending on which alternative is more cheaper.
10.All mobile cellphones must carry with them the logo of Samsung.
11.Cellphones should be package in a way that can create a brand awareness to the public. Management policies:
1.Management should allocate more resources in research and development for innovation pf cellphones.
2.A competitive team of engineers, designers, scientist, etc. shall be form with consideration to their capabilities and skills.
3.The company shall a lot reasonable compensation for the said team.
4.The team shall only focus on the innovation or modification of Samsung cellphones.
5.Rewards, benefits, and other forms of motivation should be given to the team who will head for the said strategy. Evaluation
and Control The company shall evaluate effectiveness of strategy through computation of Return on Investment (ROI), Earnings per Share (EPS), and Return on Equity (ROE) basing on the incremental revenue provided by the cellphones. Actual cost incurred in implementation shall also be compare with the budgeted cost for further analysis. Management of Samsung should clearly stress out its objectives and policies to ensure control of the implementation. Moreover quality control shall be adhere by the production team and proper guidance shall be present from the management to support the entire operation. Implementation Subject Time Allotment Budget Responsible Person Product 1 year 5 million Head of Product
Research Strategy Team Integration of Findings From Research into the development of new cellphones Shall commence as soon as research findings has been establish with proper evaluation, however time period shall not exceed 6 months. 2 million
3 million Production manager with the
aid of the product research
team. Production and Shall commence after
Packaging the integration Production Team
Marketing department for mobile cellphones
Marketing department and Distribution Team. Marketing and Advertisement
Introduction and Distribution Shall start 3 months before the introduction of the new cellphones. Shall start after product has undergo proper product testing.
1.Innovate or modify mobile cellphones