Swot Analysis Of Samsung

Company has established an effective relationship with its stakeholders and treating everyone through diverse techniques. Samsung is periodically meeting the demands of its shareholders where significant judgments are made and problems are discussed. For instance, strengthened compliance management organization has started and operated a healthcare study center. Company has a direct connection with their consumers and employees through making client satisfaction surveys to make a healthier costumer relation service. It also is creating employee surveys that made the company to improve the work shift system to reduce work ours. Samsung has also contributed in government policy formulation, which assisted to make an Energy management system that decreases its energy consumption by 10% (Samsung.com (3), 2015).

Samsung served as the manufacturing industry and international company analyzed. Samsung has been in business for over 70 years and manufactures products for diverse markets, including: digital media, high -tech electronics, home appliances, information technology and telecommunication. Samsung's motto is to "inspire the world and create the future" by leveraging three key strengths: new technology, innovative products and creative solutions.

Over the past 20 years Samsung changed from a low-cost original equipment manufacturer to a world leader in research and development, marketing strategy and design. It is clear that this article was written to tell the readers about the background leading to the success of Samsung today.

In the modern world of technology, many different companies are attempting to secure their own ground in a particular market. Many companies work in many tech fields & some company focus on software, some on mobile phones, others on television but one of the most recognizable names in the technology field is that of Samsung.

Samsung is a company that is founded by Lee Byung-chul in 1938, and this company is a South Korean multinational conglomerate company where their headquarters is located in Seoul. Samsung is a group that had expanded into many areas such as food processing, textiles insurance, securities and retail. However, after a few years, Samsung decided to enter the electronics industry in 1969, where their first product was a small black and white television. In 1990s, the company grew into an international corporation where they mainly concentrated on three areas, electronics, engineering, and chemicals (Mathew). Nowadays, Samsung is one of the best mobile phone corporation in the market, where the company decided to give their Samsung electronics motto that has always tried to inspire the world, and create the future from expanding their brand in the following years (Muhammad). From looking at the Samsung SWOT marketing analysis, I can definitely see that Samsung was one of the excellent company where they have lots of strengths and weaknesses. Three of the main strengths that the company has, Samsung was the world number one marketer of mobile phone where they were part of the world biggest market share in the second quarter of 2015 by 21.4%. Not only that, but Samsung has very remarkable research and design capabilities, which was one of their biggest strengths where they were able to generate and demonstrate Samsung pay, a payment app with very identical abilities to apple pay.

Today Samsung has evolved into a group of companies unmatched by others in its range of industries and performance. It is now globally focused and responsive to the needs of each market, and more committed than ever to true innovation. The group’s three core business sectors are electronics, finance and trade and services.

Samsung Electronics Co. Ltd is Korean international business, productions a wide-ranging of product; involves computers, mobile phone, digital TVs etc. Main fear of company is that it completely depends on

Samsung is an electronic company, that is specially designed for digital appliances. The company provides some Samsung home appliances like televisions, refrigerators, washing machines, microwaves and air conditioners to their customers. This was founded with the belief that any family can have a high-quality appliance in their homes or for their own personal use. Samsung was founded “by Byung-Chull Lee in 1938 in Taegu, Korea the company started as a food exporter in Korea” (Kovach). In 1970s Samsung started selling their first black and white TV and in 1979 Samsung Electronics came out, also Samsung is made up of over 80 businesses that have worked in different markets and Samsung Electronics have operated in over 60 countries. You

As the cost of product increases, the buyer is unable to come up with the money to buy the product, so the buyer will buy the product in lesser quantity and ultimately affecting the demand of that product. If prices increase, user will try to find the substitute for that product at lower prices and switch to alternative of that product. So, a person can affect the demand factors. For managerial decision making, prime focus is on market demand. Market demand is the aggregate of the quantities of the product demanded by all individual over a specified given time period. Market demand may be influenced by distribution of wealth and income in the community, general standard of living, and growth of the population, age structure/ratio of the population, future expectations, and level of taxation. On the other hand, there is also individual demand which is a single consuming entity’s demand. There are several factors that determine market demand i.e. income in the community, standard of living, price of goods and price of commentary of substitute of a good. Samsung’s phones and TVs are considered as consumer goods. Therefore in electronic industry, the main purpose for purchasing electronic devices is to satisfy some sort of a need. Samsung products are used by the business people in firms as well as by individuals for individual purposes. People often use the TV for

Established in 1938, Samsung is one of the business pioneers in a huge number of ventures from power generation through to advanced mobile phones (Kovach, 2013). Each of their specialty units hold fast to a similar vision of turning into the favored provider of items or potentially administrations to their customers, yet the strategies used to accomplish this vision are custom-made to suit the particular market concentrate, in this way showing the flexibility of the organization.

Samsung is a well-known and acknowledged industry leader in the digital arena. The digital powerhouse strives to create superior products and services hoping to improve the lives of their customers around the world. Samsung has diversified their company products from consumer electronics, to telecommunications, home appliances and now a smart car. Samsung has shown that the successful diversification that it has been able to integrate into its operations has become an essential element in the company’s strategic plans. Samsung’s technology products include the screen technology, TVs, batteries and chip design. It also has manufacturing operations such as general manufacturing which comprises semiconductors and components, system production which involves applications and software and the device assembly packaging like the label assembly and batteries (Hong, 2012).

The company has set up its production facilities in low costs countries. This allows producing goods with low production cost and benefits Samsung as it can offer lower price and earn higher

Samsung Electronics current strategy is Creativity, Partnership, and Great People. The company’s strength is that is has a very high research and development expenditure resulting in one of the strongest patent portfolios among technology companies. Innovation is very important when wanting to succeed in the technology companies. According to BusinessInsider.com, Samsung’s innovation is to keep focus on the market. There is talk that the more a company puts into research and development the more innovation is made. However, Samsung invested in 34 reach and development centers all around the world and the company has spent an estimate of $12.8 billion on research and development alone making the company the 3rd largest amount to be ever spent in the world. By the company spending so much money on research and development it goes along with why the company’s revenue is increasing and why the company can branch off into new ventures. Such as healthcare, fashion, etc.

Company Background: Samsung is a South Korean multinational company those starting its business as a small trading company and right now becoming world largest corporation. The company deals with its business in several sectors such as advance technology, finance, petrochemical, semiconductors, plant construction, skyscraper, medicine, fashion, hotels, chemical and others. The company was established in 1969 in Suwon, South Korea and known globally for its electronic products (Kelly, 2011). The company is manufacturing several latest technologies, electronic appliances such as mobile phones, tablets, laptops, TVs, refrigerators, air conditioners, washers and other products. The company runs its operations and sales its products in 61 countries with approx 160,000 employees in all over the world (SAMSUNG, 2014). Moreover, the company acquired the position of the world biggest IT maker in 2009 by beating the Hewlett-Packard (HP) previous leader. Its sales revenue in the segment of LCD and LED is the highest in the world. Furthermore, Samsung also becomes world leader in the segment of tablets, mobile phones and gadgets.

Samsung is one of the world’s premium electronics manufactures. The estimated value of Samsung brand had risen from US$6.37 billion in 2001 to US$10.85 billion in 2003. A major factor behind this impressive growth had been Samsung’s effort to redefine itself as a vendor of cutting-edge, “gee-whiz” consumer technology. Samsung believed that repositioning the brand is a vital to the company’s future success.