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Samsung is known as the largest producer of various electronic devices, which initially started as a primarily low-tier manufacturing brand with low-priced consumer awareness. In the case study analysis, it will illustrate the importance of marketing strategy in order to launch a product in company’s portfolio. The case study analysis will also examine the new high-tech electronic devices and how it is brough to the mass market and international level. Samsung was founded in 1938 and founded by Lee Byung-chul. The company has been operating in three major busines and they are electronics, chemical and engineering and have employed people from more than 60 countries. As a global conglomerate with an annual turnover in 1997 of $100 billion it has developed better services and products.
Strength: Samsung's global presence allows it to be adaptable as a multinational business, it can identify the optimum suppliers of raw materials as well as the greatest sites to manufacture and construct its products. Samsung is constantly working to improve product quality by employing a variety of quality control. It achieves this goal by managing variations in different components in a predictable way. Samsung's environmentally sustainable technologies have improved the brand image of the company. In the EPA's 2016 Green Power Partner list, it was ranked 9th among the Top 30 Tech and Telecom corporations. For the past five years, it has also earned the Environmental Protection Agency's (EPA) annual ENERGY STAR Partners of the Year Excellence Award.
Weakness: Since 2017, Samsung's market share had been on the decline. Due to the Chinese overall market price sensitivity, a proper change was needed. They release a lot of those products at a lesser cost in the Korean market, impacting Samsung's sales. Samsung has started to focus more on India, but this strategy has not generated significant results for the organization.
Opportunity: Samsung is set to debut the ‘Triple Protection Proposition,' a new air conditioning product that combines cutting-edge technology with flawless craftsmanship. The product is targeted at a certain consumer base in order to maximise customer engagement. The company seems to be in active commercial negotiations with European providers about supplying 5G and 6G data center.
Threat: Apple's competitor filed a patent encroachment case against Samsung, which culminated in a seven-year legal battle before a compromise was reached. Samsung was determined to have copied Apple's layout and was ordered to pay $1.049 billion in losses. Xiaomi, Apple, and Huawei are the major rivals and this imposes even more demand on Samsung in terms of both industry and finances. If you are looking for such relevant case study factor. then take help from Allessaywriter.com's expert.
Political: the country's tensions with North Korea had made Samsung faced major political difficulties in South Korea, where the business had to consider not only political turmoil but also the danger of nuclear war out on the Korean Peninsula. Samsung is subjected to economic considerations in a number of African and Latin American countries, where the political environment is dynamic and controlled structures change constantly.
Economic: High stock market volatility and continuous exchange rate swings can have major consequences for a company's financial condition. Samsung however, withstand the Korean economic crisis. Even when Korea's family debts were rising, the company has made roughly KRW 200.7 trillion. Even though such businesses are influenced by state of the economy, they have a major impact on the economy because they hire huge numbers of people.
Social: Samsung is largely a Chaebol or family-owned multinational based in South Korea. This indicates that, despite its global presence, it remains a Korean corporation at its essence. As a result, there are a number of elements to its global operations, one of which is adapting to local conditions. In other words, as a multinational giant, Samsung has had to behave locally, which has prompted the adoption of a Glocal strategy in many developing economies. Company operates in a market segment that is heavily influenced by customer cultural factors, and because sociocultural elements vary by nation, it has had to reposition itself accordingly across each area. You should check plagiarism of your case study assignment
Technological: As a digital business, Samsung has been able to leverage innovation to its advantages. The forward-thinking firm has never stopped delivering new product to market. For marketing and building different customer interactions the company covers a series of digital technology. The availability of well-developed wireless networks in the United States functions as an additional aid for the adoption of such portable apps. From Samsung's experiences, other technology-driven organisations can learn that no matter how quickly you can reach the consumer in this age of Big Bang Disruption, getting the fundamentals right is still the secret to improving.
Legal: Samsung has had to face severe sentences for supposedly copying Apple's iPad and iPhone and as a result, the company's people's sentiment and public approval of its tactics have suffered immensely. It remains to be seen how the corporation will negotiate its way out of the disastrous situation in which it finds itself in advanced economies due to multiple disputes.
Environmental: Samsung has worked on lowering its energy use and lower the incidence of water intake. Energy management systems are installed at all workstation, and energy expenses and signals have been successfully managed. It has established and maintained a chemical substance management policy. The business has set goals to reduce carbon emissions considerably throughout the life cycle of its devices. They have also developed a framework for managing GHG emissions in product deliveries, company visits and other areas. Aside from that, they also take advantage of the supplier's greenhouse gases.
Hence, it can be concluded that Samsung's creative strategy and culture is supported by extensive training and organization thinks for its personnel. To highlight the importance of this investment, it is managed and sponsored by management team. Samsung is a technology leader, having established many of the cutting-edge computer chips that are driving the Fourth Industrial Revolution (Industry 4.0) by allowing devices, trucks, and other equipment to communicate, process, and store data in new ideas and new ways.
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