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Marketing Plan Essay

3128 words - 13 pages

Contents
1) Executive summary
2) Current marketing
i. market description
ii. product review
iii. competitive review
iv. channels and logistic review
3) SWOT analysis
i. strength
ii. weakness
iii. opportunities
iv. threat
4) Marketing strategy
5) Conclusion

Executive summary

In 1969, Samsung Electronics was founded in South Korea. The company originally manufactured consumer electronic appliances such as TVs, calculators, refrigerators, air conditioners, and washing machines. By 1981, Samsung had produced over 10 million black and white TVs. In 1988 it merged with Samsung Semiconductor & Communications and started what would be a most profitable ...view middle of the document...

Already a top manufacturer in the Korean market, Samsung Electronics began to export its products for the first time during this period.
Samsung’s core technology businesses diversified and expanded globally during the late 1970s and early 1980s. During this period, Samsung restructured old businesses and entered new ones with the aim of becoming one of the world’s top five electronics companies. The early 1990s presented tremendous challenges for high-tech businesses.
In the mid-1990s, Samsung revolutionized its business through a dedication to making world-class products, providing total customer satisfaction, and being a good corporate citizen all under the vision of "quality first".
Despite the 1997 financial crisis that affected nearly all Korean businesses, Samsung was one of a few companies that continued growing, thanks to its leadership in digital and network technologies and its steady concentration on electronics, finances, and related services.
The digital age has brought revolutionary changes and opportunities to global businesses, and Samsung has responded with advanced technologies, competitive products, and constant innovation. With the success of its electronics business, Samsung has been recognised globally as a industry leader in technology and now ranks as a top 10 global brand.

Current marketing

Samsung Electronics is part of one of the largest multi-billion dollar corporations in the world. In 2007 it exceeded the $100bn mark in annual sales for the first time in its history. This makes it one of the world's top three companies in the electronics industry where only two other companies, Siemens and Hewlett-Packard, have posted larger revenues. The name Samsung literally means ‘three stars’ or ‘tristar’ in Korean, reflecting the Samsung Group’s dominance in two further sectors: Samsung Heavy Industries and Samsung Engineering and Construction. If you are talking innovation in Samsung walks the walk and is now the established leader in consumer electronics, providing a range of leading-edge premium products and, in their own words, ‘leading the digital convergence revolution’. In so doing Samsung has made a remarkable transformation from copy-cat manufacturer to become Asia's most valuable technology company.

Samsung today owes much of its success to its Value Innovation Programme. With 6 design labs staffed by 450 people it is serious about understanding what it is consumers need long before considering the technologies required to deliver them. It believes (and, to be fair, evidence suggests) that success in consumer electronics can only ever be short term and there is therefore a pressing need for continuous innovation in order to develop new technology platforms and create products that are first of its kind in the marketplace.

Samsung spends more than $6bn on research annually. It recognises that many of its products, such as semiconductors and flat-screens, are now basic commodities, and its focus is on...

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