1. How was Samsung able to go from copycat brand to product lenders? Samsung used the “new product development” strategy. According to Kotler/Armstrong new product development is defined as the development of original products, product improvements, product modification, and new brand through the firm’s own product. Samsung also unveiled a new strategy, which is called “new management,” a top- to-bottom strategy for the entire company. Lee Kung Hee, CEO, hired young designers to produce new ideas that could get the company in the direction that he wanted it. New designs .Sleek, bold and beautiful products, so that they could target high-end users to the company. Samsung also was testing new product concepts. 2. Is Samsung’s product development process customer- centered? Team based? Systematic? Samsung’s product development includes all three approaches. Samsung invested in a Customer-centered new-product development. The new-product development focuses on finding new ways to solve customer problems and create more customers satisfying experiences. The “new management” is a top to...
The features of their mobile phone are the crucial part of their parity, for e.g. – introduction of galaxy phone. Talking about the point of differentiation, recently we have seen Samsung is going to launch Galaxy S6 with a curved screen; which is a very new concept in this mobile sector and none of the other companies have so far been able to introduce such a new concept. Samsung seems to be the pioneer in this criterion and have done something off the hook. Overall the performance of this brand seems to be very impressive in terms of popularity, revenue and the contribution they are making to the mass public by offering their products. Nevertheless, I would still like to recommend an improvement regarding one of their major drawbacks, which Samsung still doesn’t seem to have overcome. Even though Samsung claimed they don’t actually make their customers a wall hugger, in reality actually they do. Hence, they should focus more on these specifications so that consumers don’t get the chance to switch brands in the blink of an
Samsung is Apple’s biggest competition when it comes to phones especially between Apple’s iPhone 5s to Samsung’s Galaxy S4. They are both very popular among consumers, but they are differently different from each other. It is an endless debate on which one is better, but it really comes down to which one is better for you as a consumer. There are good and bad issues with both phones such as with the Galaxy S4, the TouchWiz Ul remains a clumsy construction and lacks overarching design language, but the good thing about t...
On the top of the house it says: Pursuit of perfection. For an enterprise we can identify
Product Development is another strategy in limited growth where Nordstrom plans to expand and develop new products to replace the existing ones, and those products are then targeted to their existing customers.
The following is a case investigation of lawsuits between Apple Inc. and Samsung Electronics regarding the design of smartphones and tablet computers between them according to German courts. In July 2011, Apple sued Samsung for patent infringement, namely through items including the Samsung Galaxy Tab 10.1. Apple claims that Samsung infringed its patents in the Galaxy line of smartphones and tablets, arguing that Samsung copied the design and esthetics of Apple's ios range of devices.
Samsung’s cost advantage is clearly visible from the comparison of costs (and their elements) that were borne by the company and its competitors in 2003 (Tab. 3): Samsung’s overall cost was 24 per cent lower than the weighted average cost of the other four producers; two most significant elements of the cost structure, i.e. raw materials and labour, were 36 and 27 per cent lower respectively. When expressed by means of a relation of average selling price to costs (“productivity” of cost elements), the differences are even more visible (comp. Tab. 4 ): overall superiority of Samsung over its competitors exceeded 51 per cent!
Samsung will also include consumers, as key external stakeholders, in the research and development focus groups to best incorporate consumer opinion and demand into areas of the project including development, marketing, and distribution. This will help Samsung create and deliver a product that the customers want. It will also help identify consumer needs for the new smartphone’s use as consumer inputs will help shape and drive the technological innovations that Samsung is aiming to deliver with its new smartphone.
While profits from semiconductor sales are keeping stakeholders happy, Samsung is pursuing a differentiation strategy in the smartphone market. The managers are committing more resources to researching something they think will revolutionize phones. author name writes, “All smartphone makers face the issue of stagnancy in hardware innovation. Samsung is currently working on developing a smartphone with foldable displays…” (Tanner). There has not been a ground-breaking development in smart phones in the last few years, so the managers believe
emerging or new market. It can originate from new technology or new market opportunities (Eliashberg, J., Lilien, G. L., & Rao, V. R. 1997). Literature defines product development as exploiting an untapped market opportunity and turning it into a value product for customer satisfaction. Development and introduction of a new product requires extensive research on understanding customer needs, market structure, emerging trends and analysing the internal & external competitive market environments. To evaluate customer satisfaction previous researches provide strong relationship between customer satisfaction and product quality, product features and value for money. ***
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.
With a near total saturation of the consumer electronics market, companies need to look beyond their boundaries and add value to their offerings, and sometimes it means total reinvention of the company.
A product is a service or item that is offered to the customer to fulfilled their requirements and needs. A brand portfolio is used to include all entities when a large organisation run under various and numerous brands, services and company. Typically, each of the brands possesses a separate trademark and manage as a single business entities. Samsung is a huge company and produce various products with creative and interesting design and sizes, therefore customer has numerous choices. Samsung brand portfolios is Samsung Electronics Co.Ltd, SDI Co.Ltd, Electro-Mechanics Co.Ltd, Techwin Co.Ltd, Heavy Industries Co.Ltd and Security Co.Ltd. All those products had been offered to the multinational company and the world. Every Samsung brand is regulated
Research and development plays a big role here at Samsung creating the ability towards taking the next step of building a better future. In 2015, Samsung spent $14 billion dollars on research and development alone, so it’s surprise why we are willing to spend $50 million on the first year of the product. We will use our research and development team to improve the quality of our smartphone via updates and discover reasons why consumers are passing up on our new smartphone. From year 1 to year 2 there will be an increase of 16% in the research and development expense and from year 2 to year there will be a 7% increase. Most of our highly praised tech like the Galaxy S7 and S7 Edge are due to are research and development teams. The general / selling/ administrative expenses all include fixed costs, advertisements, and direct and indirect costs. With the percentage nearing the profit margin it represents that we’re are in the competitive smartphone market. The change from year 1 to year 2 for the general / selling / administrative expenses increased by 9% and it increased again but only by 4%. The pie graph at the bottom displays the % that goes to in expense. For General / Selling / Administrative expense, I’ve separated the advertisement budget to its own
9 Apr. 2014. The 'Standard' of the 'Standard'. http://www.theglobeandmail.com/report-onbusiness/the- inside-story-of-why-blackberry-is-failing/article14563602/?page=all>. Thomke, Stefan and Ashok Nimgade. “IDEO Product Development.”
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.