Samsung's Marketing-Mix Strategies from the 1980's to 2003

1838 Words4 Pages
bulb-icon

Recommended: Samsung competitor analysis

Introduction

The Case –study represents the Samsung’s marketing-mix strategies from 1980’s to 2003 in the attempt to redefine its brand globally namely the product diversification, development and differentiation strategies. It discusses the various Product, Pricing, Distribution and Promotional strategies and activities pursued to attain its objective. This is followed by the detailed market segmentation with the central theme of profit maximization by means of increasing sales volumes. The case – study suggests a means to apply marketing theories in a practical situation, by making critical analysis of the marketing elements. A reflection on the case-study is done at the end of each four question discussed , to aid the decision making process of Marketing Head ,Park, at the Samsung Electronics subsidiary in Canada

Question 1) Discuss how Samsung achieved successful brand identity with various marketing strategies they have adopted in the global marketplace based on the 4Ps of the marketing mix? Do you justify the Samsung strategy of redefining brand is giving fruits in today’s technology driven marketplace.

Samsung’s Marketing Mix Model aimed at redefining the brand as a supplier of cutting edge “ghee whiz” consumer technology from its previous image of follower which produced low- to mid - range products. To achieve a brand identity in the target market it followed the following strategies:

Product Diversification Strategy: According to Ansoff’s Model for market growth strategies, to enter into a new market Samsung followed a Product Diversification strategy for the market outside Korea (Lee & Slater, 2007). In 1997 it introduced a series of innovative products in the market like the mobile handset with voice a...

... middle of paper ...

...pplications, 101-107.

Kim, Y. H., & Campbell, N. (1995). Strategic control in Korean MNCs. Euro-Asian Management and Business, 95-108.

Lee, J., & Slater, J. (2007). Dynamic capabilities, entrepreneurial rent-seeking and the investment development path: The case of Samsung. Journal of International Management, 13(3), Lee, J., & Slater, J. (2007). Dynamic capabilities, entrepreneurial rent-seeking and the 241-257.

Samsung. (2013). Retrieved from www.samsung.com: http://www.samsung.com/us/aboutsamsung/investor_relations/financial_information/annual_reports.html

Song, M., & Noh, J. (2006). Best new product development and management practices in the Korean high-tech industry. Industrial Marketing Management, 35(3), 262-278.

Yu, S. (1998). The Growth Pattern of Samsung Electronics: A Strategy Perspective. International Studies of Management & Organization,, 57-72.

Show More
Related

  • Analysis of Kingsford Charcoal

    1709 Words  | 4 Pages

    Nevertheless, it must “defend” its current market share if not increase it, by maintaining premium quality and develop innovative products. The marketing mix strategies will effectively achieve targeted revenue and profitability in the near future.

    Read More

  • Proctor and Gamble

    806 Words  | 2 Pages

    This paper will describe the four elements of the marketing mix (product, place, price, promotion). In addition, it will describe how each element is implemented within a specific organization and how the four elements relate to that organizations marketing strategy. The company used in this example is both a product and service driven company and is in business for profit.

    Read More

  • Samsung Competitive Analysis

    1373 Words  | 3 Pages

    The cost advantages related to raw materials may be explained by better negotiated agreements with suppliers (perhaps due to the larger volumes of purchases – comp. Fig. 5) and possibly less shipping and distribution costs that stem from the fact that Samsung’s fab facilities are geographically collocated (while competitors’ facilities are spread world-wide). In terms of labour productivity only Chinese SMIC outperformed Samsung, but that came hardly unexpectedly: low labour costs in China had been and were to remain unbeatable for some time yet.

    Read More

  • Analysis of the Acquisition of Creative Design by Hammond Cards, Inc.

    2358 Words  | 5 Pages

    Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard business review, 86(1), 25-40.

    Read More

  • Tesla Motors Marketing Challenges

    715 Words  | 2 Pages

    Perform critical review of the results. Describe success of the marketing decisions and techniques. Synthesize a list of recommendations for marketing and management specialists employed by hi-tech startups in the manufacturing field.

    Read More

  • Prada: A Case Study

    2831 Words  | 6 Pages

    Porter, M. E., 1999. The Five Forces that Shape Competitive Strategy. Harvard business review, p. 80.

    Read More

  • Strategic Options Of Samsung

    824 Words  | 2 Pages

    For these outcomes, the team has chosen three possible options for alternatives (1) recall, (2) no recall or (3) delay of release. As for the aforementioned list, the group examined there values alongside the fixtures of corporate social responsibility and the consumer sovereignty test. The team analyzed the alternatives with the former under the following four criteria; economic, legal; ethical, lastly philanthropic responsibilities. For the latter concept, the following criteria was utilized, consumer capability, information and choice.

    Read More

  • Brand Management Strategy Of Procter & Gamble

    1112 Words  | 3 Pages

    The objective and aim of this paper is to provide details on the proposed solutions and interventions that will improve the brand management strategy of Procter & Gamble, given the concerns raised in the first paper. As a result of the diversifying consumer needs and increased competition, the product centric method of P&G might change its brand management approach from product promotion to driving up consumer value perception and changing brand portfolios in order to increase the level of consumer loyalty and traction on P&G products (Di Somma, “Why Brand Management will replace Marketing”). The format of this paper is designed to discuss the identified issues and challenges in the area of P&G brand management while also providing solutions

    Read More

  • Philips Vs Matsushita

    1739 Words  | 4 Pages

    N.V. Philips (Netherlands) and Matsushita Electric (Japan) are among the largest consumer electronics companies in the world. Their success was based on two contrasting strategies – diversification of worldwide portfolio and local responsiveness for Philips, and high centralization and mass production for Matsushita.

    Read More

  • Identifying a Marketing Strategy for Sony Ericsson

    1402 Words  | 3 Pages

    Recalling the mission statement of SONY, Inc., “SONY’s mission is to become a leading global provider of networked consumer electronics, entertainment and services” (SONY, 2009, pg.15). This thoughtful corporate image has a number of reasons to attract consumers. What aspects make products better than other competitors? While the mission statement is appealing, it only favors a certain group of customers. Therefore, the environmental friendly competition and financial competition result in the long-term concern: marketing strategy. How should Sony Ericsson plan their marketing strategy to remain competitive in the market?

    Read More

  • Airline Sustainable Competitive Advantage

    1432 Words  | 3 Pages

    Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard business review, 25-40.

    Read More

  • Microsoft’s Diversification Strategy

    2728 Words  | 6 Pages

    -Rumelt, R. P. 1974 , “Strategy, structure, and economic performance”. Boston: Division of Research, Graduate School of Business Administration, Harvard University.

    Read More

  • Samsung Case Study

    1790 Words  | 4 Pages

    This case study analysis is on Samsung Electronics Company (SEC) and how it has climbed up the ranks in the past decade via calculated marketing strategies, extensive market research and analysis, and a risky bet on how the market will evolve. Samsung’s principle outlook took time and education from within and thereafter the general market.

    Read More

  • Ford Motor Company

    1840 Words  | 4 Pages

    Hitt, M., Ireland, and Hoskisson, R. (2009).Strategic management: Competitive and Globalization, Concepts and Cases. In M.Staudt & Stranz (Ed).

    Read More

  • The Pros And Cons Of Marketing Strategy

    2155 Words  | 5 Pages

    Different organizations device different strategies to make their marketing campaigns right and succeed in their business lines. Most of the marketing strategies are made based on what the organizations produce while others are made purely on other factors. This paper will look at some of the elements that relate to marketing in different companies. The paper will start will start by analyzing Google, Microsoft, IDEO, Fulla Dolls and Jim Thompson Thai Silk Company. Answering key questions for every organization will play a big part in making the content of the paper.

    Read More

More about Samsung's Marketing-Mix Strategies from the 1980's to 2003

Open Document