Based on the articles that I’ve read up on , I’m going to talk about Samsung . Samsung is one of the world’s largest information technology company which has a very powerful influence on South Korea’s economic development . Samsung company produces some goods like , TV , Phone , computer and more . One of Samsung’s most successful products are its smartphones which has significantly dominated the world’s mobile phone industry . Samsung is currently one of the best smartphone in the market .
COST STRUCTURE OF SAMSUNG Low cost structure of Samsung and high responsiveness to economic events has made Samsung more competitive. For example, initially Samsung focused more on volume and domination on market rather than increasing profitability. However, in 1990s, during the Asian financial crisis, Samsung cut costs and reemphasized product quality and manufacturing flexibility, which allowed its consumer electronics move from project phase to store shelves within next six months. Under the resources-based view of strategic management, effective resources available to a firm, as well as the competency of a firm is responsible in affecting competitive advantage received by a firm. The competitive advantage received by a firm will likely
High margins Apple has positioned itself as a company that produces high quality differentiated products. This has seen them price their products higher than those of their competitors hence enjoying high margins from their loyal customers. iPod ASP was priced $50 to $100 higher than competition. The first iPhone model was priced at $499, hence being among the 5% worldwide to account for mobile phone sales. Visionary leader My analysis shows that one of the key strength’s of Apple was its visionary leader.
The turnaround posed by Wendelin Wiedeking for lean manufacturing and synchronised engineering sought the engineers to take a rather negative view. Engineers at Porsche preferred to stay with Porsche’s old strategy of individualism. The thoughts of ignoring synchronisation and working on outside engineering making secret profits was appealing. Management would need to work on that through persuasion. Also, additional training is crucial as, ‘Porsche didn’t have a full-fledged, adult rated simultaneous engineering process’.
Apple Company takes initiatives towards retaining the reliability and high quality in their products. The strategy developed in terms of their products is the simplicity and premium user experience. Hence, the product strategy is at the core of the marketing strategy of Apple Company. The products named MacBook; iTunes; iPad; and iPhone becomes the best products of Apple Company and they conquered the market with high reputation and image for the company. The success of these products are they are high intuitive and user friendly while comparing to other products in the market.
"But Google's still a foreigner who's learned how to speak some Japanese." .When Parker Pen marketed a ballpoint pen in Mexico, its ads were supposed to have read “It won’t leak in your pocket and embarrass you”. Instead, the company thought that the word “embarazar” (to impregnate) meant to embarrass, so the ad read: “It won’t leak in your pocket and make you pregnant”. This is a strong example of how companies should heavily research translation before launching their brands internationally. It would have taken only minutes for a professional translator to verify the correct translation of the line in question.
Samsung is one of the largest tech businesses by revenue. In an addition to this, Samsung is also listed as the seventh most valuable brand today. They are a prestige business in a community of both intellectual and creative individuals. They strive for a better living quality for their consumer’s conveniences, by bringing and envisioning a better future. They maintain their structure by marketing strategies, aiding to their consumers’ needs and being involved with the community and environment.
The Chairman of Samsung, Lee told his employee’s “attack bravely and timely”, Further he told to hold a sense of crisis when going well and attack when actual crisis occurred. Samsung mainly focuses on technology resources which is the driving force for them. When Chairman Lee was appointed as the member of international Olympic committee he mentioned first about the brand. He told that the Samsung brand which is now considered as the low brand should be upgraded as a high end brand for the customers. Very firstly, consistent quality is the main factor for a quality brand.
If a company has tangible or intangible resources that other companies don't have, the company has an ownership specific advantage. If a foreign market that the company wants to exploit has some positive characteristics that would help the company when it locates into the market directly rather than just to export products to it, then the company has a location specific advantage. And if a company has internalized other supplier companies so that the company can get materials not through the market, then that would be an advantage for investing to the foreign market too. For example, Philip Morris(PM) Korea produces and sells foreign brand cigarettes(e.g. Marlboro, Parliament etc.)