Samsung Marketing Management
How was Samsung able to go from copycat brand to product leader? In 1993, Lee unveiled “new management” which is a top-to-bottom strategy for Samsung to make Samsung become a bigger and more powerful company that would also eliminate Sony as the biggest consumer electronics firm in the world. To achieve this Samsung hired a new group of young designers who unleashed new products. Samsung abandoned low-end distributors, and build strong relationships with specialty retailers such as Best Buy and Circuit City. Is Samsung product development process customer centered? Team based? Systematic? I believe Samsung product development process uses all these three approaches since the “new management” is a top-to-bottom strategy; it requires various company departments to work together. In addition, every new Samsung product had to pass the “Wow! ” test: If it didn’t get a “Wow! ” reaction during market testing, it went straight back to the De-sign studio.
It is definitely creating more customer satisfying experiences, and the test is also how Samsung review, evaluate and manage the new products. 3. Based on the PL, what challenges does Samsung face in managing its high- tech products? Staying ahead of the game is one of the most important things for Samsung to do. In the last 17 years Samsung has had remarkable success but is currently going into a new reform to maintain that success for the next 17 years. Seeing the markets they operate in are changing very fast, and staying ahead with Hess changes requires a lot of investments.
Samsung newest strategy was dubbed ‘Mabel Jungle” which means ‘Horse that does not stop’, This new strategy involves a $23 billion investment in capital expenditures, new equipment, and plants to keep Samsung ahead of the game. This investment plan is bigger than that of Intel, IBM and Sony combined. 4. Will Samsung likely achieve its goals in markets where it does not dominate, such as smartness? Why or why not? Asking such a question is like asking who will win the lottery.
If one would know this, then one could be a billionaire, unfortunately tales like that only exists in fairy tales. But might we base this on their achieved goals within the smartened market, then most likely Samsung should be able to achieve its goals mostly because of their high marketing budgets and smart marketing strategies and wide-ranged campaigns. Samsung Marketing Management Case By mistreated that they are able to stay ahead of the game and to be able to develop products that will make their current products obsolete within the next 10 years.