Samsung Marketing Management

Topics: Marketing, Strategic management, Growth-share matrix Pages: 6 (2236 words) Published: December 23, 2011
Marketing management
Introduction to Samsung
Samsung Company is a producer of electronic products which was started in the year 1938 in Korea. It was first started as Samsung General Stores” selling cheap TV’s and other small electronics with high discounts. Many efforts were made by Samsung to develop the overseas market of their products. After undertaking many innovative and efficient ideologies Samsung today became a group of companies which is constantly raising their challenges to the competitors in the range of industry and its performance. Today’s success of the Samsung group is mainly due to their concentration on electronics, finance, trade and services. Samsung is spread over more than 46 countries and acts as a truly global company. Globalization allowed Samsung to earn more benefits from its new cultures and innovative ideas. Starting with the TV’s and small electronic goods, Samsung developed a wide range of their products like the digital appliances, digital Medias, semiconductors, telecommunication networks and the LCD’s. The company is a helpful neighbor, good employer and contributes a large to the local economy. Samsung is forming alliances with the leading companies to share its vision, experience and knowledge. Driving factors for the Changes in the electronic marketing of Samsung over a decade Soon after the cold war ended, there started a fierce competition round the globe where the competence of a country was being determined by the development in its technological capability. Samsung was very late to found out the latest technological advancements and hence till 1990’s it remained as a cheap brand in the minds of the customers. Even though some of the products functionality is same for Samsung and some other companies producing similar products, the Samsung electronics were sold at very lower price due to the cheap brand reputation. The Samsung Company changed its direction with the help of New Management Movement initiated by Kun- hee Lee, the Chairman of Samsung in 1994. He is the person who turned the position of the company. During the late 20th century Samsung developed many sub- brands in the American market such as the Yepp, Tantus, and Plano etc. this was done because the company believed that only the strong brand name reaches the customers effectively (O. C. Ferrell, Michael Hartline, 2010). This philosophy of the company worked out and many developing companies are still following this technique of releasing sub brands. Under the leadership of their chairman kun- hee Lee, the company had undergone many changes internally and even externally. A marketing orientation was instilled in the company and various teams are formed to provide education and training to the employees and also to manage the marketing systematically. As a part of this a marketing managing team was created by the company to check the overseas sales and marketing of the Samsung products along with the global marketing team which include the regional strategy team, brand strategy team and the product innovation team. This started a revolution in the brand image of the Samsung group. As a part of its marketing plan Samsung included about 50 sub brands under the brand name Samsung which raised the reputation of the company. The main secret of the Samsung’s success is that it maintained the production almost same but undertaken vast changes and developments in the marketing of their products. Because of this Samsung is now standing in the top positions as a producer of various electronics. The changes implemented in the marketing of the Samsung increased the sales and profits and resulted in market capitalization. With this advancement in the early 21st century, the company started campaigns and overseas development. Due to globalization the company started its branches in about 46 countries and is successfully making profits (Tony Michell, 2010). Other than development in the marketing of the products, Samsung also...
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