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Current Event - Article Example

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Making a success in a highly competitive market can be the greatest challenge, especially when the competitors include the biggest players in the industry. Such is the situation that Samsung has faced in the past as the organization struggled to establish its roots in the…
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Samsung’s Different Strategy from Apple Making a success in a highly competitive market can be the greatest challenge, especially when the competitors include the biggest players in the industry. Such is the situation that Samsung has faced in the past as the organization struggled to establish its roots in the smartphone market, by then dominated by Apple. Currently, Samsung has its dominance established in the technological market by becoming the world’s largest company by revenue. One of the greatest achievements by Samsung is being the current leader in the market scope, with Apple coming in second (Nisen). A number of strategic factors have contributed towards Samsung’s increased success and dominance in the technological market. First is that Samsung is an ultimate fast follower. One successful strategy devised by Samsung in achieving success is the ability to learn from the competitors, and making innovations of the products and services. From the competitors’ products, Samsung has understood the market demands of the products and designed improved versions of competitors’ products thereby, capturing new markets (Nisen).
The second strategy for Samsung’s success is its spending on research projects. Whenever funds are available, an organization needs to spend such cash on researching on new ideas of improving technology. As such, Samsung currently spends 5.7% of its revenue on research projects as compared to Apples 2.4%, a factor that has contributed towards its speedy success (Nisen). Samsung is not only a smartphone-maker, rather, a manufacturer and world’s largest chipmaker. Such a contribution enables flexibility in products production, and, therefore, making Samsung one of the greatest innovators in the technological industry.
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Nisen Max Samsung Has A Totally Different Strategy From Apple, And Its Working Great. Mar. 15, 2013. Retrieved from: http://www.businessinsider.com/samsung-corporate-strategy-2013-3 Read More
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