Market analysis strategy essay on: Samsung – South Korea
Samsung
Introduction:
The Samsung is the electric company established in South Korea and it is a subsidiary of Samsung group. The Samsung has made strong foot path in the electric industries by introducing the products like television mobile phones calculator’s refrigerators and washing machines. The company has started in a small level as goods trader. The company has transformed into the global power house for the electric and electronic products ranging from the semiconductors to the financial services. The company has achieved the trade mark success in the electrical and electronic industry. They are one of the major manufacturers of the electronic items in the world and they are exporting the various electronic products throughout the globe. The product has wide scope with the deserved quality and price. The company has attracted the people from all over the world with the innovation products and releasing updated models of various products in regular intervals. The company has dedicated better world technology through business of diverse in today’s span of advanced technology. The company took the world in imaginative directions.
Samsung structure:
The concept of designing the organization structure and goal setting are most significant in expressing the development in today’s corporate world. The Samsung is one of the top companies in the electronic industry from South Korea. It has dominated the marketing for long and is also continuing the same formula for the successive growth. The sales level has also been increased with the changes of the structural organization. It is one of the main manufacturers of the television in the world than any other company and also displaces the nokia company for the biggest maker in telephone markets. The change in the structure of the company has established the research and development centers for balancing the researching areas and the innovation technologies for long term sustainability. The structural changes results in the transformation of minimal waste of the energy and the resources in consistent manner.
The value creation for thee customer has been designed for the successful management incorporated with the research and development process to develop into effective customer satisfaction. The Samsung has evaluated the projects based upon the objective of the organization and transfer of technology into rapid growth in the future projects. The management also recruited the talented employee for the company to rank in the top position biased on their experiences and expertise.
Contribution of stakeholders:
As per Chris (2011) the stakeholders are the great assets for the growth and establishment of the company. The Samsung holds the valuable stakeholders for their successive growth and development. The shareholders and investors played a vital role in the value and potential of the company. The important decision has been made by the shareholders for the Samsung securities. Their contribution made the rewarded dividends delivered to the performance of the operation. The company also made trustworthy relationship with the investors and stakeholders through the open communication based upon the honesty and transparency. The Samsung also made fair relationship with the customer’s suppliers and government bodies through the mail in regular basis. The effort of the shareholders and investors made the company to yield a fruitful profit for the business. The Samsung Company has opened several branches in different parts of the country with the sustainable relationship with the investors and shareholders. The company also wide open to accept the suggestions and feedback from the investor’s suppliers and shareholders made the big difference in the strategy and helps to promote the brand of the company all over the world.
Business operation:
The Samsung set the good business operation through the innovation technology with the new design by focusing on the customer value of the product.as per Dylan (2011) the company has made strong foot in digital revolution. The Samsung leads the digital market place by globally by implementing the new product for the customer satisfactions. The company also comprises with the latest television by creating the synergies across the various platforms with the latest technology. The company also merges the latest technology in the television with the efficient power to design the model. The ultimate goal of the company is to maintain the leadersship in the new technology to guide the electronic industry to higher level. The business of television in the Samsung profile along with the mobile phone business. The company enjoys the top market in the television product. The company expressed the explosive growth in the market by introducing the latest LCD television. It has also focused on to maintain sustain relationship throughout the constant development and innovation technology like three dimension. The brand image has powered the company to the top position in Samsung growth. And also lead the telecommunication industry with the wide range in the mobile phones.
Marketing plan for products:
The marketing strategy is more important for the competitive business in the current world. Since the company has been established all over the world but it is more important to keep the active growth level. By analyzing the strategy of the market condition will help to sustain in the business market also exhibit the product through the different methods? As per Evens (1997) the strategies business unit helps to provide the clear picture of the growth about the product in the market. Pricing is the main factor for pushing the product to the consumer by analyzing the current market conditions. The pricing strategy is influenced by the requirement for the income and the goals of the long term market. The proper promotion should be made on the product to explore the features. Since the company gains huge fame among the customers it will help to market the product with innovation strategy.
The service for the product should be made easy to access will attract the customer towards the potential business. The complexity of measuring the existence of the standard interface is the difficult in installation of the product. The most important aspect for all the above criteria is the customer service in the operation of the business.it is the strong influence one long term market and the reputation will increase among the customers. This will provide the strength of the company to increase the accessibility of service outlets for the customers.
Performance strategy:
As per Hamel (1994) the Samsung has contributed the overall performance in various products. Ever Year Company managed to release the new products in refrigerator air conditioners and mobile phones. The company expresses an enormous profit in the television in consecutive years. The company is designed a successful stagey for developing new products in the television. Samsung is putting huge effort on the products with the innovation ideas not only in the television also with the other products. The company also increases the sales to a higher level in the television. The Samsung puts great place in managing the performance in the product. The company improves the experience of the consumers and also indicates the key performance. The company has set up the diversity task force and strategy by strengthen and promote the ethical corporate culture. The successive growth of the business the company has made up alteration in the salaries of all the employees for every individual worker to differentiate the compensation based on their performance. The employee is offered with the huge benefits like insurance coverage and financial cost for the medical facilities.
BCG matrix of Samsung:
As per Porter (1998) the market is wide open for the Samsung products since the product deserves the quality in all the ranges with cost effective. Every product has its own features to attract the customer in all the location. The main aspects of the Boston consulting group is based on the two dimensional variables the market growth and relative share. The matrix helps to point the healthiness of the business. In the relative share the Samsung captures the relative market share of the business by the different products. The market growth interconnected with product life cycle and predicts the requirement of the cash need for relative growth in the market.
Cash flows:
The television are said to have a high profit and also require the low investment for the fact in low growth rate. The cash cows funds their own growth and pay the corporate charges. The company supply huge funds on the research and development for the innovation products. According to Buzz ell (1987) the surplus cash from the cow products should be transform into question and stars in order to create the future cows.
Stars:
Starts indicate the leaders in the high growth market and they generate large amount and they also use lot of cash due to the market growth conditions. The greatest example is Samsung has large share in the growing market for the television network and mobile phones.
Question marks:
The question marks indicate that not have achieved dominant market position. The Samsung have tough competition to overcome the competitors and do generate much cash. The Samsung has huge share on the market of electronics but it is behind the apple for latest version of technology.
Dogs:
Dogs indicates the little future and big cash drainers on the company as they generate very little cash b hay the virtue of low market share. The company has pushed lot share in the market and they are going in moderate level not losing in the negative side of the deficient funds.
Conclusion:
The Samsung focus is in winning node in every category of the product. They are heading towards the strong establishment in the market among the competitors. It is necessary to design the good business strategy for the company to sustain in the market.
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