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In partial fulfillment
Of the requirements
In
Marketing Management 5
Submitted by:
Mark Lester L. Oche
Submitted to:
Ms. Ali RequintonLapus
Marketing Plan
Executive Summary
Introduction
Samsung Electronics Co. Ltd. Is a multinational electronics company
which originated in Suwon, South Korea. In recent years, it has diversified
into one of the top performing manufacturer of consumer electronics. They
offer top end household appliances, high-tech gadgets and smartphones.
Samsung has also been the leading and largest manufacturer of electronic
components such as lithium-ion batteries, semiconductors, chips, flash and
hard drive devices for competitor clients such as Sony, Apple, HTC and Nokia.
It has been the world's largest information technology company by revenues
since 2009. It also has assembly plants and sales networks in 88 countries
and employs around 370,000 people. In the later years, Samsung electronics
has managed to penetrate the market for smartphones and tablets and even
became the top vendor and most innovative company when it comes to
design and ergonomics. Samsung Electronics continues to lead in offering
innovative technologies and premium devices that fit the lifestyle of the
consumers at a very reasonable price.
The Company
Samsung Electronics Co. Ltd. Is the largest component of South Koreas
largest Chaebol one of the giant family-controlled conglomerates that have
been instrumental in building the countrys economy over the past half
century.
In December 2010, Samsung switched its management system from
the single CEO system of last year under Choi Gee-Sung, to a two-person
management team with Choi Gee-Sung, CEO and Vice chairman, and Lee JaeYong, Chief Operating officer and President. In June 2012, Samsung
appointed Kwon Oh-hyun as the new CEO of the company. The change done
leading
innovation
and
technological
breakthroughs,
more
manufacturers are also being displaced from the market. Many companies
vanished in the market due to incompetence and failure to stay in the
competition. Everywhere we go, we always see the existence of high-end
technologies and technical innovations around us. This proves that the
market for consumer electronics is among the largest product market in the
world. A market as large as this will never be too easy to penetrate because
of the existence of large manufactures with years of expertise and
experience. So far, Samsungs marketing strategies has put them into the
top leading provider in the market and gaining the largest market share in
the business today.
Current Situation and Trends
Growth and development of the electronics market has always been
serious and rapid. This is fueled by the changes in the consumer behavior
with regard to their attachment with technologies. Consumers have never
been
contented
with
previous
technology
offerings
by
electronic
innovations which will cater accordingly to the consumer wants and needs in
terms of technology.
Current trends in the market today involves electronic products which
offers ease of use, environmental safety, accessibility and availability
altogether at a reasonable price. Innovations which set the taste and feel of
the people are also accounted currently.
Samsung Electronics has never failed in performing what has been the
trend nowadays. They even have innovations that are becoming essential
part of everyday living such as the smartphones. They didnt just provide the
needs of the people; they literally create the need for the people.
Their
rough
start
and
background
clearly
speaks
for
their
children
Build an image of the company as a stylish, high-quality brand
In addition, success attained by the company can diminish in time when not
taken proper control. Few actions can also be implemented in order to
sustain current operation. Listed below are few key actions to secure steady
operation.
Control its own technical destiny and not just copy others
Control its growth and development
Monitor current improvements and technical innovations to secure
genuine products
Objectives
Samsung Electronics objective was to buildits image and brand to suit
consumers taste and preference also benefiting their wants and needs.
Moreover, they also aim to make technological advancements and class
leading innovations to provide an image of premium look and feel all
throughout their product offerings.
Here are some objectives that need to be considered.
sponsorships
Develop strategies that will address customer feedback on their
products
Marketing Strategy
Samsung Electronics made a very good marketing strategy which
positioned them as the leading manufacturer of consumer electronics and
electronic components in the market today. It is evident that a good
marketing strategy would really determine a companys success provided
that proper implementation is carefully monitored all throughout the
operation of the business. Samsung Electronics started everything with the
centers in cities like London, Tokyo, Shanghai and San Francisco. Moreover,
constant monitoring and evaluation of the feedback from customers enables
them to ascertain consumer taste and preference.
Lastly, they made huge efforts of developing marketing programs to
build up the Samsung brand around the world. They have sought out that
there is a need for them to develop strong and aggressive brand awareness
for customers to have sufficient information on their products.
Action plans
Samsung Electronics started with an image of being a low-class
manufacturer
of
electronic
products.
Diversifying
into
high-end
manufacturer they had become the leading industry in the digital world
today. Their marketing programs and strategies are very good and well
implemented throughout the firm. My concern would be that if Samsung did
not wait for many years to have decided this change, they might have gone
more and better from what they are today. I think that with strong brand
awareness for people to know their product would also be an option for their
success.
With the success they have achieved today, we could easily say that
they are as hard as rock when it comes to competition. But the company
should not be too complacent with what they have now. Listed below are
some action plans that Samsung Electronics should consider for years to
come.
Controls
Samsung Electronics has positioned themselves as one the leading
manufacturer of electronic products in the market today. With technological
breakthroughs and cutting-edge innovation, they surely are a top competitor
to beat. Their main challenge was to how to sustain companys current
situation as the top manufacturer while continuing their action plans for
years to come. Listed below are control actions which need to be considered
by the company.
Contingency Plans