Samsung – Competitive Analysis
Discussion issue 2:
Since the early part of 2001, it has been notices that Samsung has been increasingly successful in repositioning the brand of its various products a higher level competing with market leaders like Sony and Apple. Research and find out how their advertising and promotion strategy was changed to achieve these objectives. Any comments and suggestions.
Answer: Samsung Group, belongs from South Korea, which is also the worlds second largest conglomerate by revenue has different products such as: Semiconductors, Slimmer Panels, Televisions, 3D experience, Smart TVs and App, Mobile Phones, Home Appliances etc.
Since, Samsung is gradually increasing its market by producing variety of products; it should compete in the market in such a way that, it stands at the top most position. In doing so, they have focused on many things since last many years so that; they are able to compete with market leaders like Sony and Apple. The main reasons for the success of Samsung are:
Product innovation
The Apple is considered as an innovative in many ways in developing smart phones but also, Samsung does many innovations on many other electronic items including mobiles. The wide product range of Samsung was one of main reasons for its success in the market. Samsung positioned itself on the technology platform. Today Samsungs innovative and top quality products and processes are world recognized. To global business, and Samsung has responded with advanced technologies, competitive products, and constant innovation.
Pricing
Pricing also seemed to have played a significant role in Samsungs success. Samsung sales similar product at lower price than that of apple and Sony for eg: price of 32 inch LCD produce by Sony Cost INR: 36,000 whereas, Samsung cost only INR: 26,000 for the same. Similarly, Apple I-phone 4 (32 GB) cost INR: 39,000 whereas, Samsung Galaxy S II cost only 28,900 so that consumer are encouraged to buy Samsung products.
Target Market
The target market of Samsung is wide than Apple and Sony. Samsung has variety of products also, so that consumer have options to buy but Apple focuses only on expensive product for higher income class people and does not have variety of product. Samsung focuses on Asian Countries whereas Apple focuses on rich country like USA.
Design of product
Samsung design their product in a unique and in a stylish form. Samsung overhauls its design in every two years. Since 2006, it has won as many as 210 awards from internationally prestigious design institutions. Samsung was the winner in eight categories in the 2009 IDEA awards, the company that received the most awards. In the 2010 iF Material Awards, Samsung