Samsung Company Overview
Samsung Company is a world leader in digital technology innovation. Samsung believes in innovation and continue to look after the new technology to grow their business. I believed that company wanted to build a market in which customers are more loyal to the Samsung brand and trust in the name of Samsung. “SAMSUNG is dedicated to devel-oping innovative technologies and efficient processes that create new markets, enrich people's lives, and continue to make Samsung a digital leader” http://www.samsung.com/hk_en/images/aboutnew/corporateprofile/title_txt.gif Samsung accomplished its success through the strategy of how to manage creativity, partnership with venders, and talent. Samsung is not only expanding in electronics but also expanding into other industries such as health care, medicine, and biotechnology. Samsung’s mission and vision will make Samsung a cutting edge company. I would say Samsung is the creator of the future of electronics. Samsung is among the world’s top five electronics brand and has $400 billion in revenue. The mission of the company explain everything
“As stated in its new motto, Samsung Electronics' vision for the new decade is, "Inspire the World, Create the Future."This new vision reflects Samsung Electronics’ commitment to inspiring its communities by leveraging Samsung's three key strengths: "New Technology," "Innovative Products," and "Creative Solutions." -- and to promoting new value for Samsung's core networks -- Industry, Partners, and Employees. Through these efforts, Samsung hopes to contribute to a better world and a richer experience for all” (http://www.samsung.com/us/aboutsamsung/corporateprofile/vision.html)
Micro and macro environment for Samsung globally
Porter’s five forces:
The Threats of new entrants
There is always a potential threat for Samsung that a new company will enter into the market. Most of the companies find outsourcing company in China and label its brand. Only thing they have to do is to formulate a marketing strategy and distribution channel. Today’s global economy is depended on China. China is called world’s factory. Most of the products are manufactured at very low cost in China. Electronic companies like HP, SONY, DeLL, Gateway, Apple, and many others used China’s manufacturing industry. So there is always a threat of new entrants into the electronics market. “MANILA, Philippines - The Philippine electronics industry attracted $2.477 billion in fresh investments in 2011, the highest ever, and the new projects are expected to generate an estimated $5 billion in additional export revenues annually once they go into full commercial operation” (http://www.abs-cbnnews.com/business/02/21/12/electronics-industry-attracts-24b-investment).
The Bargaining Power of Buyers
Electronic world is changing everyday and in the market there are many types and many verities to pick one from. Even it’s very difficult for a customer to find the best one with very competing prices to each others. Most of the individuals are price sensitive they can check the prices on line and fine the cheapest price before making any decision. Institutional buyers are more quality sensitive than price. Most of the companies focus on corporate customers. There is a completion in the market. The Bargaining Power of Suppliers
Intel is leading in microprocessors it provided 85% of CPU so the power of suppliers is high because of low number of competitors in the market. Different companies produce different kind of products. Hard disk producers are many in the market. The power of suppliers is quite low because of many competitors in the market. Threats of Substitutes
In the changing technology world, there are many substitutes available to the customers to choose one. Companies like Samsung have to keep the quality and price up to the customer expectation. Samsung should understand the need and demand and desire of each group of customer. Samsung...
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