Assignment on International Marketing Samsung Company
Download as DOCX, PDF7 likes11,718 views
This assignment provides a comprehensive overview of Samsung, highlighting its evolution from its founding in 1938 to becoming the world's largest electronics company. It outlines the company's objectives, marketing strategies, and SWOT analysis, emphasizing its competitive pricing and promotion tactics. The conclusion notes that Samsung consistently adapts its mission, vision, and marketing strategies to align with technological advancements and market demands.
Assignment on International Marketing Samsung Company
- 1. Z.H.SIKDER UNIVERSITY OF SCIENCE AND TECHNOLOGY Modhupur, Bhedorgonj, Shariatpur An Assignment on- “Samsung Company” Prepared For: Shaharima Juthi Lecturer Department of Business Administration Z.H. Sikder University of Science and Technology
- 2. An Assignment On “Samsung Company” Submitted to: Shaharima Juthi Lecturer Department of Business Administration Z.H. Sikder University of Science and Technology Submitted by: The Avengers Program: BBA, Batch: 1st Section: A Business Administration Z.H. Sikder University of Science and Technology Date of Submission: 3 August, 2015
- 3. THE AVENGERS Group Details Sl no. Name ID 1. Azaaz Munshi 120216086 2. Md. SouravHossain 120216037 3. Mezanur Rahman 120216002 4. Sonia Akter 120216121 5. Helena Akter 120216124 6. Nusrat Jahan Nipa 120216060
- 4. Letter of Transmittal August 03, 2015 Shaharima Juthi Lecturer Department of Business Administration Z.H. Sikder University of Science and Technology Subject: Submission of An Assignment focused on“Samsung Company” Dear Madam, Here is our study assignment that you assigned us; to submit as a partial requirement you’re your course namely ‘International Marketing.’ While preparing this assignment we have gone through internet, newspaper, journals & different study assignment that are available in the secondary sources. Actually this study is very much relevant with our course and we have learnt a lot about practical field of this course, & hope that will be very much beneficial for our International Marketing decision making. We have put our best effort yet it is very likely that the assignment may have some mistake and that are unintentional. I hope that the assignment will meet your expectation. We shall be glad to answer any kind of question about any matter relating to this assignment and shall be pleased to provide further clarification if necessary. Yours Faithfully, The Avengers
- 5. Acknowledgement First, it is the Almighty ALLAH who gives us the sense to understand what is right and wrong. We have to prepare with proper acknowledge and information which we got from various sources of references. At this point, we would like to acknowledge some of the people who have made a major contribution to prepare the assignment. First of all, Lecturer ShaharimaJuthi, study assignment instructor, who has given us the instructions to prepare the assignment correctly. We highly grateful to some individual who conducted the study on the same topic help us a lot and make us easy in preparing this assignment. EXECUTIVE SUMMARY This assignment is about The Overall Samsung Company.
- 6. About the Company: World Largest Electronics Company Samsung was began in 1969 in Suwon, South Korea as Samsung Electric Industries, originally manufacturing electronic appliances such as TVs, calculators, refrigerators, air conditioners and washers. The native name of the company is SumSong. It is founded in 1938. It is founded by Lee Byung Chul. The headquarter of Samsung Company is situated at Seoul, South Korea. The company serve their product all over the world. Samsung began producing electronic products, TVs and mobile phones in late 60s. The main product of Samsung Company is flash drives, digital displays and other electronic products. The Objective of Company: The main objective of Samsung Company is to sell quality products to customer interested in purchasing. Vision and MissionStatement of the Company: As stated in its motto, Samsung Electronic Vision for the new decades is ‘Inspire the World, create the future’. Samsung has got its aim set as being ‘Digital-E’ company. As one of the leading Electronics Company in the world, Samsung electronics is characterized by new technology, Creative solutions and innovative products. Its mission statement changes every decade to match the current business and technology climate. The Goal of the Company: The ultimate goal of Samsung electronics is to emerge as a global business leader of unparalleled determination and accomplishment, offering new value and more prosperous future not only to our customers, shareholders and regional communities, but also to humanity as a whole.
- 7. Marketing Strategy: Samsung has a vast product portfolio and its presence is in several different product categories. The Company uses 4 marketing mix in their marketing strategies. Products in the marketing of Samsung: 1. Tablets 2. Mobile Phones 3. Smartphones 4. Normal Phone 5. Television 6. Camera 7. Refrigerator 8. Air Conditioner 9. Laptop etc. Price in the marketing mix of Samsung: Because of its presence in deferent product categories Samsung uses various pricing strategy. We can divided the pricing strategy and match it with the product that it is used for. Samsung Company follows Skimming the price and Competitive policy in the marketing mix. Skimming the Price: Recent Samsung Note 3 + Gear is another entrant in the market which is catching people eyes. Thus Samsung uses skimming price for these products wherein it tries to get a high value in the start before competitor catch up. Once the model is old or any competitor has launched a similar product, Samsung Company immediately drops the price. Competitive Pricing: There are so many strongest competitors in the market like LG, Panasonic etc. so Samsung Company keeps competitive pricing so as to beat the competitor. Samsung as a brand hardly uses penetrative pricing because it does not enter late in the market. Place in the marketing mix of Samsung: Samsung is present through various channels in the market. It works on the channel marketing concept wherein there are three segments such as sales and service dealers, modern retail, and distributors. The sales and service dealers handle key accounts for Samsung and
- 8. are involved in corporate sales. These dealers may also open exclusive Samsung showrooms. The modern retail segment includes large retailers like croma, hypercity etc. The distribution network is the most interesting in the case of Samsung. In several cities, Samsung has a single distributor through whom they distribute throughout a territory. For example- In Bangladesh the Electra is a large distributor of Samsung smartphones. Promotion of the marketing mix of Samsung: Samsung uses multiple forms of promotion and tactics to attracting the customers to themselves through advertising and other sales promotions. For example: Samsung uses various marketing vehicles across the year covering festive season as well as non-festive time. On the other hand, it gives many offers and discount to its trade partners to motivate them to sale Samsung products above competition. They also uses celebrity marketing to promote their products such as recently the Samsung Company make a advertise by using the Cricket superstar Mushfiqur Rahim. SWOT Analysis of Samsung Company: Strengths: Samsung is one of the largest company in the world. Samsung is top rated company all over the world. By the ranking of Business week Samsung as 20th on the top 100 world brand and second in electronic industry. Samsung electronics is largest worldwide manufacture of memory chip and the second largest manufacture of semiconductors. Samsung is one of the largest industries in cell phone brand the entire world. Samsung introduces new innovation in the laptop industry. Samsung Company is famous in the UK and others well known countries around the world. Weakness: Weakness of Samsung Company is not proactively coming out with newer models. Samsung introduce different models at different price that focus on mass market instead of position markets. Samsung all kind of products the prices of other brands is so cheap.
- 9. Opportunities: Samsung Electronics worked at four areas in the software Market. These are following as: 1st in Digital 2nd in Media, 3rd in Semiconductor, Telecommunication Network, 4th is LCD Digital Appliance. They also expand a lot of opportunities in those areas. Samsung Company provides quality products to their customer with higher brand which is a great opportunity. Besides these inAsia the company has so many opportunities such as: 1. Growing Bangladesh’s Smartphones market 2. Growing mobile advertising industry 3. Growing demand for quality application 4. Growth of tablets market 5. Obtaining patents through acquisitions. Threats: 1. Saturated smartphone market in developed countries 2. Rapid technological change 3. Decaling margins on hardware production 4. Breached patents 5. Apple’s iTV launched 6. Price wars Marketing Budget of Samsung: Samsung will have spent $14 billion on marketing and promotion of its products in 2013 which is more than Iceland’s total GDP. According to data from Thomson Reuters, Samsung will spend 5.4% of its annual revenue on advertising and promotion, more than any other of world’s top 20 companies by sales.
- 10. Example: From hiring Lionel Messi to lead a team of footballing superstar again a race of aliens, to being on one of the main sponsor of the Olympics and X-factor, Samsung name is everywhere. Conclusion: It is very clear that mission and vision policy, marketing strategies, technological updates and research and development are the key features for the progress of a company. In the precious discussion, it is obvious that Samsung is keeping all of those factors under consideration. In it set goals Samsung not only improving home based entertainment but it has planned to provide all the basic equipment and accessories required for the office use. Marketing Strategies of Samsung are developing as there is shift in the media from TV to Internet. So Samsung has got a good set up of website and its market strategies are reasonably up to date. The End