Samsung- The Making of a Global Brand Name: Institution: SAMSUNG- THE MAKING OF A GLOBAL BRAND Q#1: By 2002, Samsung was rated as one of the top 3 players in the global mobile handset market. Analysts attributed Samsung's success to its marketing initiatives…
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The company underwent a huge transition to a high-end technological manufacturer whose focus was on the B2C market from the B2B market. Most technology consumers had come to associate Samsung with poor quality products. In order to alter the perception with regards to its products, Samsung came up with a restructuring process through a careful study that saw them alter their marketing strategy to meet these challenges. Samsung Electronics altered its strategy from technological segmentation to lifestyle segmenting. They started by carrying out extensive market research aimed at manufactured products, which were reflective of the customers’ lifestyle rather than those with technological features that were specific. By using segmentation by lifestyle, Samsung segmented their market followed by product positions. Samsung focused, on the quality of their products in their marketing, to change the image that consumers in the market had in their products. Samsung implemented quality initiatives like six sigma and various initiatives of manufacturing, like assembly manufacturing, to enhance their output via optimal resource utilization. Samsung also developed new products that were technologically superior and innovative. They developed products that were high end and fun for the phone sector to appeal to the preferences of customers in the market. Samsung integrated features like access dictionaries and the religious texts to appeal to local consumers. In addition, their 50-gram phone was introduced that while it did not significantly increase sales volumes, aided Samsung in projecting its image as a high-tech company. Samsung also associated their company with sport events, for example, by becoming the official sponsor of the Seoul Olympics that boosted its visibility worldwide. Q#2: Compared to established rivals like Sony, Matsushita, and Nokia, Samsung was a late entrant in the global consumer electronics market. Comment on Samsung’s brand building initiatives in the global consumer electronics market. Samsung, beginning in 1993, sought to create a global brand and acquire a new corporate identity. To start with, Samsung altered their logo, writing their full name in white against a blue background, which sought to represent warmth, reliability, and stability. Samsung was also looking to the global market, which informed their decision to change their brand name to English for the consumers worldwide to remember easily. It is also said that the design of their logo, which has the letters S and G partially breaking into the exterior of the oval was representative of Samsung’s will to appeal to the consumer’s wish to be connected to a company and their innovations. They also needed to improve their brand image in the market and they did this by offering technologically advanced and innovative products, as well as the initiation of worldwide marketing activities. These steps were taken with the view of increasing their brand visibility across the world. Samsung also sought to attach the name of their brand to quality and this saw them change their focus to high-end market products from those in the low end. Their new product designs won the IDE awards, which increased their brand awareness. This led to Samsung, by the early part of the century, to emerge as one of the world’s biggest brand in the cell phone sector. Their high prices were qualified by their high technology, coupled to additional features that they added to their products in comparison to their
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(“Samsung Case Study Example | Topics and Well Written Essays - 1000 words”, n.d.)
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(Samsung Case Study Example | Topics and Well Written Essays - 1000 Words)
“Samsung Case Study Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/marketing/1478093-samsung.
The company fundamentally believes in speed based innovative products to compete against its rival and offers customers new features in their products to meet their fast changing requirements and demands. It constantly strives to identify factors and issues that would help meet the challenges with efficiency and unmatched proficiency.
The company is a multinational one that is based in South Korea. Being establish long back in 1938, the company provides various types of technological gadgets, semiconductors, petrochemicals, skyscrapers and finance (“Intel and Safaricom Unlock Kenya’s Smartphone market”).
The study would aim at answering these research questions: What are the ingredients of SEC's turnaround strategy? What are the implications for marketing? How strong is the Samsung brand? Can Samsung pass Sony and become a top ten player? As Chief Marketing Officer, what are Kim's roles and responsibilities? How has he built his influence?
It has set trends in the memory segments of the market and is a reputed brand for its quality and value for money. The initial struggle the company endured for a share of the emerging markets can be considered to have eventually paid off when we look at the markets and the level of competition in the 80's.
In this condition Samsung and all the other companies in this industry try to protect their position either by product differentiation or by cost reduction. If we look at the five competitive porter forces, we can say that the threat potential new entrants Is very low because a lot of capital expenditure is required in order to setup a firm in this industry and also because many of these firms are protect by patents.
Their ability to decipher and create business opportunities and exploit market conditions became their major asset in making inroad in areas where big players line Samsung, Sony, Matsushita, IBM, Motorola etc. were already well established with huge financial resources,
ts history was the IMF crisis which has allowed the firm to refocus and develop its core competencies while at the same time laying off businesses which were not profitable. Apart from this, the change of leadership and the focus on the design and quality was another important
Products are of very premium categories. Samsung believes in filling the market with their products. They offer products ranging from premium to middle targeting customers from all categories. Samsung always maintains good mixture of different products. From
The author states that based on unproductive marketing strategies, Samsung has also had to incur very high marketing costs to gain control of new markets. It is a challenge that requires great risk taking. In reference to price fluctuation, the main challenge has been fluctuation exchange rates in the countries that Samsung operates.
2 Pages(500 words)Case Study
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