A Report On Samsung Will Drop Mst Technology And Focus Completely On Nfc Technology
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This section of the report will discuss the tasks required to support the recommended solution. As per the solution Samsung will drop MST technology and focus completely on NFC technology. Samsung will try to build its brand around the use of NFC as beneficial to the company and the users. And in order for this to be a success the company will need to invest towards the following areas:
• Recovering amount lost: Dropping MST technology would result in loss for Samsung as the company has spent about $250 million for its acquisition (Asif). So, Samsung will need to plan an approach that will help them retain the lost amount. Also, the company will be required to lay off employees working with MST or if possible train…show more content… 360 security lite app enables users to prevent hackers from misusing their information, prevent online banking and shopping viruses and provide less consumption of battery life (Catch News, 2015). Another way to prevent identity theft is the finger print Scanner that requires the users fingerprint match to operate (Martonik, 2015). Further, Android pay a competitor for Samsung currently doesn’t use the fingerprint scanner (Profis, 2015). So, Samsung can use this to their advantage and promote their products as secure and safe for the users. The costs associated with installing the app are free as users can download it on app stores (Catch News, 2015). While the Password Security is already available on phones (Samsung).
• Branding: The Company will need to focus on marketing the new measures taken in account. Samsung expenditure for the year 2013 on marketing and promotion is about $14 billion (Gilbert, 2013). The company believes in promoting itself to establish a brand name and also provide towards customer needs (Gilbert, 2013). With the company now opting to focus completely on NFC, Samsung will need to create a marketing strategy to differ themselves from the competitors (SEPHERTELADZE, 2015). The strategy should focus on current market position, competitors and how they have a competitive advantage over them