One of the world’s electronics manufacturers, Samsung Electronics is a pillar in the consumer electronics industry and a global brand to be reckoned with. A Fortune Global 500 company, Samsung ranks no.1 in Fortune’s electronics industry rankings and is also considered the 8th most valuable brand in the world by Forbes.
Studying the business strategies and growth models of such a hugely successful business is bound to reveal some stunning & enlightening insights. And this article intends to do so by dissecting a case study on Samsung’s phenomenally successful business model & strategies by a leading business tech solutions company.You can get study help.
Let’s dive in.
The Samsung Electronics case study looks into its successful business model and looks into the growth & marketing strategies that supplemented it successfully.
Here are the key extracted insights from the case study.
The Samsung Electronics Case Study Solution sheds light upon the factors on which the company’s current business model relies.
The resurgence & stellar rise of Samsung Mobiles is one splendid example of their fast learning capabilities.
a risk-taker. The company uses a large share of its revenues to innovate and diversify its businesses.
Revenues are expected to fall due to decreasing prices of semiconductor devices. In addition, a decrease in TV sales coupled with the gradual, steady-state of global mobile demand led to the decline in revenue generation in 2015-2020.
Increased dependency on electronic devices due to the Covid-19 onslaught is expected to lend a massive boost to the revenue figures in 2021& beyond.
Enormous global customer bases, a focused business model, capable management, and potent business & marketing strategies are the reasons why Samsung is one of the top three electronics manufacturers in the world.
Next up, let's examine what the case study uncovered about Samsung’s business proposal & marketing strategies.
Over the years, the business strategies of Samsung have focused upon product innovation and minutely observing & understanding changing market demands and conditions. ?Samsung follows the Marketing Mix Pricing Strategy and a unique Advertising Methodology focusing on accurate pricing, item variety, and quality promotion of product & services.
The company employs price skimming techniques. For example, it introduced its most advanced models at relatively high prices and claimed to be the best smartphones ever made to one-up rivals such as Apple & LG.
When another company brings out a similar model with indistinguishable features, Samsung would automatically bring down their prices drastically to skim customers on the other end of the spectrum.
Focused Pricing is another of Samsung’s Business Marketing strategies wherein the company puts high price labels on its innovative product lines and ensures to maintain its value to the maximum.
Summing it all up, the Samsung Business Model & Advertising case study cites three central pillars of success upholding Samsung’s global marketing & business endeavors.
Effective Market Readership
Aggressive Innovation & New Product Development
Intuitive Pricing Techniques
The following section looks at the results of a Samsung SWOT analysis, a component of the business model & a marketing case study. Get case study help.
SWOT Analysis of Samsung Electronics in the case study reveals the following:
1. Very high research and development investments & expenditures amongst competitors.
2. Stupendous capabilities of quality product design, development, and innovation
3. Strong manufacturing and marketing units.
4. Intelligent and long-term strategic partnerships
1. Heavy dependency on smartphone and consumer electronics segments
2. Weaker marketing capabilities than biggest rivals
1. Growing competition from smartphone and electronics manufacturers such LG, Huawei, Apple
2. New competitors such as Xiaomi
3. Apple’s global dominance and increasing reputation
4. Direct competition from significant rivals in other markets too
The case study’s Samsung SWOT analysis and recommendations are pretty intelligent, observant, and in-depth. If you are stuck with your Samsung SWOT analysis assignment, then MyAssignmentehlp.com can help you out big time.
Nevertheless, we next move on to Samsung Electronics Pestle Analysis.
Here’s what the case study uncovered from a detailed PESTLE analysis of Samsung.
Samsung has strong political ties with its homeland government and the governments of all the countries it operates in.
The company faced some heat from the Korean government in 2016 due to accusations of bribery. Trials were conducted, and the then-acting chairman was convicted.
Samsung is a leading player in the world economy and is a great opportunity seeker. Moreover, the current economic climate favors them as the demand for electronic systems is on the rise.
The company, however, faced clout due to faulty designs and dangerous technologies. Moreover, the embarrassing failure of Samsung Galaxy Fold tarnished its reputation and hammered its economies a bit.
Samsung is a world-renowned brand with a massive global following. It has a positive brand image due to its innovative products, which has, in turn, enabled it to enter & dominate many new markets.
The company is a leading tech innovator and invests a large amount of its revenue into research & development. They have numerous patents in its name and partners with various businesses to further its product developments.
Samsung has had its fair share of legal troubles, from bribery allegations to patent duplication. These headlines could not severely damage its reputation, though, as global consumer support and brand following were not affected much.Our law assignment help services will help you in legal problems.
The company has always been a strong supporter of environmental sustainability. Samsung implements green technology and follows the Kyoto Protocol to reduce greenhouse gas emissions.
All in all, the SWOT and PESTLE analysis of Samsung reveals some fantastic insights about the company's strategies, market presence, and competition.
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Resilient and formidable competitors are the most significant threats Samsung faces. However, up-and-coming start-ups are also threatening to eat away their market share.
The SWOT analysis studies the different factors that can affect the company's market share and sales. Strengths are the factors that propel Samsung ahead of its rivals, while weaknesses are the drawbacks that can potentially stall progress.Similarly, opportunities represent the situations that can boost the company’s performance. And, threats are the competitions and disruptive tech that pose serious challenges.
Ans.: It is a case study that looks into events and incidences surrounding Samsung’s business ethics practices. The company has a somewhat shady ethical image with controversies surrounding government briberies and accusations of patent duplication.