Week 3 Assignment ECO 365 1
Samsung Competitive Analysis
In today’s ever changing technological world electronics are continually improving, encouraging increasingly more users to upgrade with each new product release. Today, our marketing team will share with you the competitive landscape of our products at Samsung and products of our most challenging competitor. This competitive analysis will review factors that affect demand, supply, and equilibrium prices in the market in which Ultra High Definition Televisions are operating and thriving. Finally, we will lay out any issues or opportunities our organization may face concerning this landscape.
Samsung, established in 1938, is one of the world’s top 10 electronics companies and is known as an electronic leader in its industry ("Samsung.com", 1995-2014). Samsung has a commitment to cost effective processes, spearheading new platforms through innovative technologies, enriching people’s lives and maintaining its position as a “digital leader” ("Samsung.com", 1995-2014).
Factors That Affect Supply, Demand, And Equilibrium
Since its initial introduction in early 2013, Ultra High Definition Televisions (UHD TV’s) are slowly but surely making their way into the market. Today, plasma, LED, and LCD televisions are the ones in high demand considering consumers are overall getting the best deal in terms of both pricing and features. However, in terms of the best visual impact a TV can possibly offer the 4K/8K UHD technology blows the lesser-advanced televisions out of the water. There is no doubt that in today’s market UHD TVs are not within the average consumer’s price range. With so many substitutions out there, spending $5000 or more just to maximize the quality of visual effects comes off as impractical and uneconomical, at least, for now. According to a forecast report by Strategy Analytics, by the year 2020 33% of households in the U.S. will have UHD TVs (2014). Currently, it has 6% of the overall TV market, with
In today’s ever changing technological world electronics are continually improving, encouraging increasingly more users to upgrade with each new product release. Today, our marketing team will share with you the competitive landscape of our products at Samsung and products of our most challenging competitor. This competitive analysis will review factors that affect demand, supply, and equilibrium prices in the market in which Ultra High Definition Televisions are operating and thriving. Finally, we will lay out any issues or opportunities our organization may face concerning this landscape.
Samsung, established in 1938, is one of the world’s top 10 electronics companies and is known as an electronic leader in its industry ("Samsung.com", 1995-2014). Samsung has a commitment to cost effective processes, spearheading new platforms through innovative technologies, enriching people’s lives and maintaining its position as a “digital leader” ("Samsung.com", 1995-2014).
Factors That Affect Supply, Demand, And Equilibrium
Since its initial introduction in early 2013, Ultra High Definition Televisions (UHD TV’s) are slowly but surely making their way into the market. Today, plasma, LED, and LCD televisions are the ones in high demand considering consumers are overall getting the best deal in terms of both pricing and features. However, in terms of the best visual impact a TV can possibly offer the 4K/8K UHD technology blows the lesser-advanced televisions out of the water. There is no doubt that in today’s market UHD TVs are not within the average consumer’s price range. With so many substitutions out there, spending $5000 or more just to maximize the quality of visual effects comes off as impractical and uneconomical, at least, for now. According to a forecast report by Strategy Analytics, by the year 2020 33% of households in the U.S. will have UHD TVs (2014). Currently, it has 6% of the overall TV market, with
References: Barry, K. (2004). TRIZ – What is TRIZ?. Retrieved from http://www.triz-journal.com/triz-what-is-triz/ Burger, A November 16, 2014 from: http://www.telecompetitor.com/uhd-tv-forecast-to-be-in-33-of-u-s-households-by 2020/ Colander, D. C. (2013). Microeconomics Ninth Edition [University of Phoenix]. New York, New York: McGraw-Hill/Irwin Milian, M. (2014). Atop the electronics world, Samsung now chasing innovation. Retrieved on November 16, 2014 from: http://www.bloomberg.com/news/2014-04-01/atop-the-electronics-world-samsung-now-chasing-innovation.html Shaughnessy, H. (2013). What makes Samsung such an innovative company?. Retrieved on November 16, 2014 from: http://www.forbes.com/sites/haydnshaughnessy/2013/03/07/why-is-samsung-such-an-innovative-company/ TRIZ: turns good engineers to great engineers. (1993). Retrieved on November 16, 2014 from: http://www.triz.co.uk/ Wile, E. (2014). What Affects Labor Costs?. Retrieved on November 16, 2014 from: http://smallbusiness.chron.com/affects-labor-costs-21137.html