Samsung Product Strategy

724 Words3 Pages
In the past, people viewed Samsung as the “other brand that makes cheaper products”, but now Samsung has emerged as the ideal supplier of various electronic goods. When the new CEO, Lee Kunhee took over, Samsung too the necessary leaps to becoming the premier brand on the market. In the beginning, Samsung was seen as the worse of the two worldwide supplier of consumer electronics, but ever since hiring a new team of younger product designers that has been far from the case. In a the last few years Samsung has become the major leader in miscellaneous electronics. Usually the life cycle of consumer electronics is not very long. With a field revolving around technology, at times things may feel like a hamster wheel. So much innovation, moving…show more content…
They related to customer-centered in the aspect that they are a miscellaneous supplier of consumer products. They focus of making products that appeal to the consumers. Samsung makes an extreme effort in being the company that is responsible for innovation in the market. They are team based through their implement of product development. There are teams of countless members in various departments that work together on a products development form the start to the end. Lastly, the company is systematic because one of Samsung’s major focuses are accumulating and evaluating ideas centered around the next big thing from its stakeholders, much like how most systematic businesses are…show more content…
With this, you can miss opportunities of becoming of a market leader in certain departments. On the other hand, because they are in so many various markets, they really can’t ever be left out in a moment of innovation. If I was a key executive, I would continue to add newer and more innovated people to various departments in the business. I would continue to be a leader in cell phones and televisions, but I would assignment people to make sure that we are the main supplier of other products like microwaves, fridges and washer and dryers. I would make it a goal to be the supplier of all things not only electronic based, but as the undisputed leader in all house hold items we produce. As stated above, the company that is historically noted as Samsung’s main competitor has been Sony. When Samsung entered the market, Sony had already established brand loyalty in various consumer electronics. Samsung since them, has remained diversified in the electronics depart, but has chosen to devote more finite time to cell phones and televisions. In this time, they have completely passed Sony and have developed a new rival in Apple, particularly in cell phones. While in just April of 2010 (Sebastian), Sony, Apple and Samsung were nearly even in overall share of the market, over the past 6 years, Sony has declined at over 5% per year. (Sabastian) Apple and Samsung have remained neck and neck, while Sony
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