In this fast-paced industry, Samsung Electronics Company (SEC) has done a remarkable job in turning the company around and reaching a top-of-mind brand awareness over the past few years. The Samsung brand identity and values were poorly regarded up until the early 90s. The brand was positioned as a low-end electronics company that was mainly manufacturing consumer televisions and VCRs. Samsung was not able to compete with the industry’s leaders (i.e. Sony) in the global market. A positive change was needed to reinvent the company’s culture and brand position at that time. As a result, SEC’s Chairman, Kun Hee Lee, launched the “new management initiative” in 1993 to shift the company’s emphasis from providing low-end commodities to high-end premium …show more content…
The company had a number of marketing implications including the lack of market segmentation, the fragmented and inconsistent brand messaging, and the skepticism faced internally about marketing in general. As a result of the new management initiative in 1993, the direction of the brand started to change. Eric Kim was hired as the right person to take Samsung global. However, aside from changing the brand perception globally, he needed to change it internally among Samsung employees first, and once he achieved that, he started working on repositioning the brand externally. First, he formed the “Global Marketing Operations” (GMO) team to research and manage the new brand. The team developed new logo and product presentation guidelines and consolidated advertising efforts using one global advertising agency. At that point, the brand began getting great exposure, especially after placing a Samsung device in the movie “The Matrix Reloaded” and becoming an Olympic …show more content…
He had the right leadership and executive vision to take the brand globally, despite the different challenges he had initially faced. Kim’s very first achievement started by educating the importance of marketing among Samsung employees and get their buy-in to drive the necessary changes, which he has accomplished astonishingly. Following that, and since the brand was creating different impressions in the different markets, due to the 55 different advertising agencies used in each market, Kim succeeded in consolidating all those efforts to be assigned under one agency, the Foote Cone & Belding (FCB), and that to maintain a consistent image of Samsung across all markets. Subsequently, Kim’s annual marketing budget grew to 400 million. He also started exposing the Samsung brand by sponsoring global events, such as the Salt Lake City Winter Olympics and many others, in an effort to improve their brand image. In addition to the product placement in the Matrix Reloaded movie as well as the successful DigitAll campaign, Samsung was able to get back on the radar and appeal to “generation Y” consumers, especially in the mobile device
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Executive Summary Here at the Atha Corporation, our main objective goals for the upcoming fiscal year are too; double our sales and increase our consumer market, increase employee productivity among our current employees, and to hire several new employees for each department to add to the sales and productivity for the coming year. The Atha Corporation has secured financial backing from a venture capital firm that will be allocated appropriately amongst each department to aid in the efforts of our future sales goals. Our management team is imperative to the implementation of all new ideas. All department managers are working together in conjunction with the Human Resources Department to ensure the proper management, performance, and moral amongst
This structure will still remain mainly functional but with a more flexible and adaptable system that will allow the company to focus on a project as well as the day to day running of the business. The company is expanding, they have added two new directors to the company’s structure to support this expansion. Kathryn Hannah will be promoted to Director of Organizational Development. Kathryn will be responsible for the change process and she will continue to run the HR department but will take the burden of directive control away from Laura Bolton, leaving Laura to focus on the purchasing department. Sidra Aktar will be joining the company as the new Marketing Director.
This means that different direction from when the company was founded would have to take place. Such actions symbolize changes in the product plan, in addition to maybe discrediting years of the work of the CEO or COO. MY CHOICE: Option 3 RATIONALE: I consider that option three is the best option to choose among the three past options. Star over a new business plan could allow this company the opportunity to design a product that can compete with the brands that conduct the current market. POTENTIAL OPTION:
The basic functions like legal and tax issues, benefits, EDI, credit and collection, and financial control systems were administrated from this centralized corporate office. Exhibit_8 shows the company’s organization chart as on October 1998. Board of directors chairman W.P Sovey followed by vice chairman & CEO J.J McDonough and president & COO T.A Ferguson represents the very top corporate leadership. Under them, top financial responsibilities were divided between two corporate executives: Vice President-Finance who managed outside asset and liability, and senior vice president-Corporate Controller who focused on internal operations. They reported directly to company president and president reported to CEO.
Sensitive market to these kinds of products are commercial line and offices those has to get technological interface to attain day to day tasks. Samsung has contributed in so many innovative products to make users life easy such as tablets, mini laptops, and televisions to provide with the wide range of technology for personal use. Samsung is known for its colors and picture quality in the
They became more receptive towards the practices McNerney brought over from General Electric, allowing focus to shift quickly and strongly towards execution. In moulding a familiar culture to incorporate good practices of another rather than destroying that and starting from scratch, McNerney was able to make profits and stock price climb 35% in three years. (Groysberg, McLean & Nohria, 2006) These successes are consistent with the finding that human nature holds “a strong preference for stability and continuity” (Brooks & Bate, 1994). By allowing some of the original practices to continue, employees would be able to
That is the firm spends over “four hundred million dollars on advertising” for its various products aiming to target different slides of the customers in the global market as it floods the market with various products. This strategy comes with another one that is the pricing strategy , Samsung’s products are inexpensive if compared with other competitors. This strategy has enhanced the position of the firm to be one of the largest in selling products as it targets all the slides of the communities worldwide( David and Enrich 2000)
2. Analysis of the Marketing Environment Social Forces I. Demographics Samsung phone target audience are age, income and occupation. It is because for age, there might some phone design and functions that does not suit them especially for elderly & children use. However, technology is now advanced, even elderly age more than 50 years old uses smartphone for their own benefits such as health apps and etc. For income, not all people have the ability to purchase better functions and design yet expensive smartphone.
Individually, employees of Samsung are encouraged to take part in the many volunteer programs offered by the company. REVENUE STREAMS Samsung posted quarterly revenue of 51.68 trillion Korean won, or$45 billion. up 8.9% year over year.
For the business-level, Trader Joe’s adopted a differentiation focus strategy. According to our textbook with this strategy, Trader Joe’s seeks to differentiate in its target market. They rely on providing better service than broad-based competitors. Specifically, they focus on the special needs of the buyer in other segments (Dess, Page 159). Joe’s differentiates its self from other grocers by providing a unique shopping experience fortified with their private label goods and great service from their crew members.
• Change: Samsung always comes up with new products and innovative services in order to fulfill their customers’ needs and demands. • Integrity: Samsung makes sure that ethics are followed at each and every level and thus stay faithful and give respect to its stakeholders (Globart, 2012). • Co-prosperity: For a business to prosper, it is very much needed that auxiliaries, employers and others too, must be given opportunities to flourish. Samsung strongly believes in it and move ahead by taking everyone together. They are fulfilling their responsibilities towards society and environment as well by being a responsible corporate citizen (Annual Report, 2013).
This structure will remain mainly functional but with a more flexible and adaptable system that will allow the company to focus on a project as well as the day to day running of the business. The company is expanding, they have added two new directors to the company’s structure to support this expansion. Kathryn Hannah will be promoted to Director of Organizational Development. Kathryn will be responsible for the change process and she will continue to run the HR department but will take the burden of directive control away from Laura Bolton, leaving Laura to focus on the purchasing department. Sidra Aktar will be joining the company as the new Marketing Director.
They are now focusing on their expansion United States of America. They plan on expanding to other parts of the world as well. Their business strategy so far has been very clear. Some of the points below highlight their business strategy: • Developing products of exceptional quality: -They have modified their business model in such a way that they take care of the entire business process, right from the planning and research till the final sales. This enables them to produce goods of exceptional quality thus enduring consumer satisfaction.
Investment philosophy of Motilal oswal Motilal oswal securities limited organization structure Motilal oswal franchise structure Motilal oswal securities Ltd management key people Name Position Motilal oswal Chairman and managing director Raamdeo agarwal Joint managing director sudhir dhar Associate director and hear hr admin Hitungshu debnath Director retail business Navin agarwal MD of institutional equities and investment banking Sameer kamath Associate director CFO Ramnik chabra Associate director Head marketing Ajay menon Chief operating officer Rajesh dharamshe Director –institutional derivatives and corporate broking Vijay goel Broking , distribution and wealth management Vishal Tulsyan Private equity Motilal oswal financial services Ltd Subsidiaries