Case 8: Samsung
Case 8 – Samsung: From Gallop to Run
1. Samsung in 1993 was commonly noted for copying the higher technological powers like Sony and selling a cheaper, and not as good quality devices to customers. Instead of leading the way they were simply walking in the already paved path of tech world. When Lee Kun-hee became CEO of Samsung Industries he had it in his mind to become a leader. With a large investment in research and development he made that dream possible by hiring on plenty of fresh, young innovators that created slick, futuristic designs for their future line of tech devices. This is how Samsung pulled its resources to become a product leader in today’s market.
2. I think that Samsung’s product development is more Systematic than anything else. Yes, they are customer-centered as is every company, and I’m sure they used a portion of the Team-based system also. Under the systematic new product development process they have yielded a large number of new product ideas, and have collected, evaluated, and managed new product ideas in the favor of the company. Samsung systematically used their available resources to create new and higher quality devices that allowed them to climb the brand equity ladder to the 5th over all on the Interbrand Company list.
3. When dealing with the technology fields of marketing it is very important that you stay on top of your game as a company. “Adapt or Die”, as my mass media class has taught me. This is due to the fact that new technology is being discovered and improved every minute of every day, and if you take too long to blink you could already be behind the curve. Samsung has to deal with these problems everyday. In comparison to the product life cycle, Samsung’s new products probably won’t last to long in the market before improvements must be made to keep up with competition. Technology is a style full of fads. As their sales rise with new products their profits will follow, but when sales start to peak and fall its
1. Samsung in 1993 was commonly noted for copying the higher technological powers like Sony and selling a cheaper, and not as good quality devices to customers. Instead of leading the way they were simply walking in the already paved path of tech world. When Lee Kun-hee became CEO of Samsung Industries he had it in his mind to become a leader. With a large investment in research and development he made that dream possible by hiring on plenty of fresh, young innovators that created slick, futuristic designs for their future line of tech devices. This is how Samsung pulled its resources to become a product leader in today’s market.
2. I think that Samsung’s product development is more Systematic than anything else. Yes, they are customer-centered as is every company, and I’m sure they used a portion of the Team-based system also. Under the systematic new product development process they have yielded a large number of new product ideas, and have collected, evaluated, and managed new product ideas in the favor of the company. Samsung systematically used their available resources to create new and higher quality devices that allowed them to climb the brand equity ladder to the 5th over all on the Interbrand Company list.
3. When dealing with the technology fields of marketing it is very important that you stay on top of your game as a company. “Adapt or Die”, as my mass media class has taught me. This is due to the fact that new technology is being discovered and improved every minute of every day, and if you take too long to blink you could already be behind the curve. Samsung has to deal with these problems everyday. In comparison to the product life cycle, Samsung’s new products probably won’t last to long in the market before improvements must be made to keep up with competition. Technology is a style full of fads. As their sales rise with new products their profits will follow, but when sales start to peak and fall its