Company Background: Samsung is a South Korean multinational company those starting its business as a small trading company and right now becoming world largest corporation. The company deals with its business in several sectors such as advance technology, finance, petrochemical, semiconductors, plant construction, skyscraper, medicine, fashion, hotels, chemical and others. The company was established in 1969 in Suwon, South Korea and known globally for its electronic products (Kelly, 2011). The company is manufacturing several latest technologies, electronic appliances such as mobile phones, tablets, laptops, TVs, refrigerators, air conditioners, washers and other products. The company runs its operations and sales its products in 61 countries with approx 160,000 employees in all over the world (SAMSUNG, 2014). Moreover, the company acquired the position of the world biggest IT maker in 2009 by beating the Hewlett-Packard (HP) previous leader. Its sales revenue in the segment of LCD and LED is the highest in the world. Furthermore, Samsung also becomes world leader in the segment of tablets, mobile phones and gadgets.
History: Company started its business as a Samsung Electronics Industry Co Ltd in 1969 and introduced some electronic products such as Black-and-white TVs, washing machine and refrigerator from 1960 to 1975. The worldwide establishment and expansion of the business and operations of the company started in 90 as entered in the Asia, Europe and American region countries. At the present time, the company is manufacturing world class and high quality smart phones, video cameras, TVs, LCD or LED and keeping its eyes on the current market requirement. Moreover, the company is now manufacturing world class and latest hardware and software, smart phones and 3G dives to compete its biggest competitors such as Nokia, Apple, and BlackBerry, Micromax etc. The company is looking for fulfils the current market requirement and demand of the customers (Chang, 2011). Its innovative, high quality and world
Table of Contents
- Company Background
- SWOT Analysis
- Strengths
- Weaknesses
- Opportunities
- Threats
- Objective
- Goal
- The Key method of the Company for implementing of the marketing mix
Objectives and Key Themes
This marketing plan outlines Samsung's objectives, current market position, and strategies for future growth. The plan analyzes Samsung's strengths and weaknesses, identifies opportunities and threats, and details the company's marketing goals, both quantitative and qualitative.
- Samsung's competitive position in the global electronics market.
- Analysis of Samsung's strengths, weaknesses, opportunities, and threats (SWOT).
- Marketing objectives and goals, including sales targets and brand positioning.
- The marketing mix strategy employed by Samsung.
- Understanding customer buying behavior and its influence on product development.
Chapter Summaries
Company Background: This section provides a comprehensive overview of Samsung Electronics, tracing its history from a small trading company to a global technological giant. It highlights the company's diverse business interests, ranging from electronics and semiconductors to finance and construction. The evolution of Samsung's product portfolio is detailed, emphasizing its progression from basic appliances to cutting-edge smartphones and other technological devices. The section concludes by showcasing Samsung's current global presence and its leading position in various market segments, underscoring its overall success and market dominance.
SWOT Analysis: This chapter presents a thorough SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis of Samsung. The strengths highlighted include the company's strong brand image, leading market share in various electronics segments, and substantial assets in technology and research and development. Weaknesses addressed include a lack of product differentiation in certain areas and higher pricing compared to competitors. Opportunities discussed involve expanding into new markets and diversifying into other sectors. Finally, the threats identified are primarily intense competition from established players and emerging rivals in the technology industry, emphasizing the competitive landscape Samsung operates within. The SWOT analysis provides a balanced perspective on the company's current situation, enabling informed strategic decision-making.
Objective: This section details Samsung's marketing objective: to be a global leader in innovation, creating products and solutions that inspire communities worldwide. The company's commitment to high-quality products and services, delivered through operational excellence, is emphasized. The discussion also incorporates Samsung's ambitious 2020 goals, including sales targets and brand positioning, demonstrating a clear vision and quantifiable aspirations. Exploration of future ventures into healthcare and biotechnology showcases the company's diversification strategies and forward-thinking approach to business growth.
Goal: This section defines Samsung's quantitative and qualitative goals. The quantitative goals focus on achieving a USD 400 billion sales figure and attaining the number one position in the global IT industry. The qualitative goals aim to establish Samsung as a creative leader and a top-ten employer worldwide, attracting the best talent. The integration of the marketing mix (product, price, promotion, place) is also discussed in the context of achieving these targets. The section emphasizes the dual approach of achieving both significant financial success and strong brand recognition, highlighting a holistic vision for future growth.
The Key method of the Company for implementing of the marketing mix: This section focuses on the four Ps of the marketing mix: product, price, promotion, and place. It highlights the importance of customer demand and post-purchase evaluation in shaping Samsung's strategies. The role of Samsung's research team in understanding customer buying behavior is emphasized, along with the company's efforts to create attractive and feature-rich products to appeal to international markets. This section directly links the marketing mix to the company's overall goals and its understanding of the consumer market.
Keywords
Samsung, marketing plan, SWOT analysis, competitive advantage, global market, electronics, smartphones, tablets, innovation, brand image, market share, customer behavior, marketing mix, sales targets, brand positioning, technology, growth strategy.
Samsung Marketing Plan: Frequently Asked Questions
What is this document?
This document is a comprehensive preview of a marketing plan for Samsung Electronics. It includes a table of contents, objectives and key themes, chapter summaries, and keywords. The preview provides an overview of the company's background, SWOT analysis, marketing objectives and goals, and its approach to implementing the marketing mix.
What topics are covered in the Samsung marketing plan?
The plan covers several key areas: Samsung's company background and history; a SWOT analysis of its strengths, weaknesses, opportunities, and threats; its marketing objectives and goals (both quantitative and qualitative); its marketing mix strategy (product, price, place, promotion); and an understanding of customer buying behavior.
What is Samsung's company background as described in this plan?
The company background section details Samsung's evolution from a small trading company to a global technological leader. It highlights its diverse business interests and its progression from basic appliances to cutting-edge technology. The section emphasizes Samsung's current global presence and market dominance in various segments.
What does the SWOT analysis reveal about Samsung?
The SWOT analysis identifies Samsung's strengths (strong brand, market share, R&D capabilities), weaknesses (lack of differentiation in some areas, higher pricing), opportunities (new market expansion, diversification), and threats (intense competition from established and emerging rivals).
What are Samsung's marketing objectives and goals?
Samsung's objective is to be a global leader in innovation, creating products that inspire communities worldwide. Quantitative goals include achieving USD 400 billion in sales and becoming the number one global IT company. Qualitative goals aim to establish Samsung as a creative leader and a top-ten employer.
How does Samsung implement its marketing mix?
The marketing mix strategy focuses on the four Ps: product, price, promotion, and place. It emphasizes understanding customer demand and post-purchase evaluation, leveraging its research team to understand customer behavior, and creating attractive, feature-rich products for international markets.
What are the key keywords associated with this marketing plan?
Key keywords include Samsung, marketing plan, SWOT analysis, competitive advantage, global market, electronics, smartphones, tablets, innovation, brand image, market share, customer behavior, marketing mix, sales targets, brand positioning, technology, and growth strategy.
What is the overall purpose of this marketing plan?
The marketing plan aims to outline Samsung's strategies for future growth, analyzing its current market position, strengths, weaknesses, opportunities, and threats, and detailing its marketing goals to achieve significant financial success and strong brand recognition.
- Quote paper
- Francis Marete (Author), 2012, SWOT Analysis of Samsung's Marketing Plan, Munich, GRIN Verlag, https://www.grin.com/document/278578
