Samsung Company
Introduction to Business
Samsung Company From a small export business created in Daegu, Korea, Samsung has grown and become one of the world’s leader in the electronics industry. The main specialization of Samsung is digital appliances and media, semiconductors, memory and system integration. The market segmentation of Samsung is giving them a firm commercial advantage. Samsung is segmented according to demographic segmentation, that consists of dividing the market in groups based on different criteria. The most important criterias used by this company is age, income and occupation. Using this criteria they tend to become a leader in technology market as they offer products for each group of customers. Also they are using psychographic segmentation that is the science used to better understand consumers, according to their lifestyle, personality and the main values they have. Another process used by this company is Positive market segmentation that consists of studying the rival goods that are demanded in the market and to compare the quality and price, to understand what the customers need and what products could they insert in the market to satisfy the customer and to increase the confidence of customers in the company. This strategy is one of the strengths of the company as they study the activity of Apple Corporation and other rivals. Using the collected datas they know better what kind of products could they offer to different groups of consumers. The motto of the company is “Inspire the World, Create the Future”, from it we can deduce that the main purpose for them is to satisfy the customers desires and to achieve a high revenue. Another strength that keeps Samsung in the top world’s brands is the fact that Samsung is totally dedicated to give their customers a wealth of opportunities to rich their full potential. The globalization process for Samsung’s technology businesses started in the early 1980s. So they became a part
Samsung Company From a small export business created in Daegu, Korea, Samsung has grown and become one of the world’s leader in the electronics industry. The main specialization of Samsung is digital appliances and media, semiconductors, memory and system integration. The market segmentation of Samsung is giving them a firm commercial advantage. Samsung is segmented according to demographic segmentation, that consists of dividing the market in groups based on different criteria. The most important criterias used by this company is age, income and occupation. Using this criteria they tend to become a leader in technology market as they offer products for each group of customers. Also they are using psychographic segmentation that is the science used to better understand consumers, according to their lifestyle, personality and the main values they have. Another process used by this company is Positive market segmentation that consists of studying the rival goods that are demanded in the market and to compare the quality and price, to understand what the customers need and what products could they insert in the market to satisfy the customer and to increase the confidence of customers in the company. This strategy is one of the strengths of the company as they study the activity of Apple Corporation and other rivals. Using the collected datas they know better what kind of products could they offer to different groups of consumers. The motto of the company is “Inspire the World, Create the Future”, from it we can deduce that the main purpose for them is to satisfy the customers desires and to achieve a high revenue. Another strength that keeps Samsung in the top world’s brands is the fact that Samsung is totally dedicated to give their customers a wealth of opportunities to rich their full potential. The globalization process for Samsung’s technology businesses started in the early 1980s. So they became a part
References: 1. Kim Youngsoo, 1997, “Technological Capabilities and Samsung Electronics” 2. Bloom Martin, 1992, „Technological Changes in the Korean Electronics Industry“ 3. Yu Sengjae, 1989, „Korean Electronics Enterprises : Growth and Strategies“ 4. Samsung Global Strategy - http://sgsg.samsung.com/Introducing_Samsung_GSG_final.pdf 5. Samsung Business Review -http://www.samsung.com/uk/aboutsamsung/corporateprofile/download/2011_4_Business_Overview.pdf 6. Samsung Financial Highlights – http://www.samsung.com/hk_en/aboutsamsung/corporateprofile/ourperformance/samsungprofile.html