Samsung started as a small export business in 1969 from Taegu, Korea, and from there it has grown and become the top 20 leading electronic company, basing on digital appliances and media, Semi-conductors, Memory and System Intervention. Samsung is now the most popular and known brand with so many products such as Mobile phones, Televisions, Laptops and PC’s, Fridges, printers and etc.
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What do they want then come back and look at your company on what you good at. Then check your competitors on what they have that you don’t have and the vice versa is true. This brings to what’s called SWOT analysis on internal auditing. It uses advance technology on its electronic products and meets the demand. * The good thing with Samsung, they know what their customers want, so it’s easy to produce what you can sale. * Samsung are good in innovation and coming up with new products every day in the market which this attracts more customers and even grab other customers from other brands, example when they came up with the Samsung Galaxy s2, this phone has more futures and advantages compare to IPhone.
This includes the battery life and application as well. Most of its products are user friendly as compared to other competitors. Samsung is not proactive in producing new products although one of its goals is innovativeness. It waits until the competitor is there on the market then he come and attack. * Samsung lucks product differentiation. Most of its products are of the same. * Samsung set its products at low price because it always goes for mass market instead of niche markets. Due to this there products are treated as of low quality.
So market department needs to work on this so as the competitor cannot get a loop hall of having an advantage. It has an opportunity of making itself distinctive from the competitors; this will give them a wide market share and increase their portfolio. * It has to be proactive and produce new products so as to capture new and existing market share as well. * Samsung has to now price their products according to their qualities. As they have good quality products which even exceed their competitors.
The mobile phone or telecommunication industry is growing really fast, and the competitors are increasing, so they got to be creative and run perpendicular with the market. There different companies who have been in the system for a long time, so Samsung has to work hard in order to be able to compete with them, such companies are Sony, LG, etc. * Samsung focus only on one market, and that’s the professionals. They need to focus on different market when making their products. They need to look on Professionals, Students, corporate users, Entrepreneurs, Medical users and even musicians.
This is the popular portfolio management tool mostly used in product life cycle in a company. There four section on BCG matrix, Star products, Cow products, Question mark products and the Dog products. The Star products are products with high market growth and high market share. So Samsung has to recognise these products and give them a first priority. Cow products have low market growth but high market share. So Samsung has to check on their product to see which one is doing well.
Question mark products are the ones high market growth but low market share. Investment is needed for this product to stand and succeed and even move to be a star product Dog product has low market growth and market share as well. They should be taken out of the business as they only generate money for them self. Samsung has to identify their dog product and either remove them from the market or renovate them so as they can move from that group.
