Essay About Wide Product Range And Samsung

South Korea International Business Analsis
P[pic 1]          PART A: SWOT ANALSIS AND RECOMMENDATIONSA SWOT analysis, in regard to Samsung, is responsible for providing feedback on internal forces (strengths, weaknesses) and external forces (opportunities, and threats) and evaluating those four elements of an organization. The SWOT analysis can help Samsung specify the objective of the business venture or project and identify the internal and external factors that are favorable and unfavorable to achieve that objective. Identification of SWOTs is important for Samsung, because they can inform later steps in planning to achieve the objective.STRENGTHS (INTERNAL)Samsung has a wide product range, which allows them to grab ample market share from various markets. This allows Samsung to not only earn a high return but it also allows them to diversify their risk and failure.  Samsung has highly reputation as an top electronic company.  Samsung has serial patented products or high quality products that approved by consumers all along.Samsung has top technical equipment, technology and technicians. Samsung has the ability to innovate. They won lots of rewards on their latest technology. Samsung has set up many production plants in low cost locations, so that they can keep the minimum cost on production.WEEKNESS (INTERNAL)Samsung has ill-defined market price strategy. They does not charge too high price for its products, therefore often people relate the low price to begin a supplier of low quality products. Samsung’s products are hard to maintain or attract customers due to their unexpected quality and price.Samsung does not focus on a specific niche; it offers its products to the mass market only. Samsung faces a horizontal competition from new companies or other top electronic companies and online companies. Samsung cost more on operation as a large enterprise group, they resist to change.OPPORTUNITIES (EXTERNAL)Samsung could launch sub brands to the company, with new and improved business strategies. Samsung could improve in human resource practices in order to reduce operation cost.Samsung could open more stores and expand to developing countries to serve more customers. Samsung should focus on innovation They should use unique products to attract customers rather than just complete  with peers.Samsung could lay more attention on the quality of products.Samsung could offer additional services to retain existing customers and attract new ones. Increase in the need for mobile phones, Samsung could exploit this need well.THREATS (EXTERNAL) Samsung has linked product lines, which means that if one product line fails due to its own reasons other product lines will also suffer. Samsung is very scattered; it controls and operates different products while its competitors use their resources and effort on one segment only. Diversification takes a lot of effort and attention.  Samsung is experiencing the threats of low price from other small electronic companies.Because the competitors had realized the important of publicity, if Samsung wants to maintain lit top IT company title, they need to pay attention to  advertising.Samsung may face high cost due to high inflation rates and exchange rates globally.RECOMMENDATIONSCurrently, Samsung is one of the top electronic companies in the world as well as the mainstay industry in South Korea. However, it is experiencing the threats from the always changing market.  Recently, its  mobile business tumbled 74 percent from the previous year. In order to provide Samsung with recommendations on how to increase Samsung’s market share, the corporation’s strengths need to prioritized if they want to be led to a wide pool of opportunities. Samsung has strengths include wide market range, highly reputation, approved products, top technological elements, innovative ability, low cost in production. These can be utilized for aggressive expansion and competition in foreign countries. The following recommendation are not only tips on increasing Samsung’s competitiveness in South Korea  but also tips on how Samsung need to do to expand around the world.1. Develop a closer partnership with local companies in key markets such as China and IndiaSamsung ceded its position as the No. 1 smart phone vendor in China and India. In the recently ended third quarter, the Chinese vendor became the worlds third largest smart phone maker after Samsung and Apple, according to IDC. In the past couple years, Samsung tried to go up against Apples store model in the US by partnering with Best Buy. But there is geographic difference in China. For example,  in China, certain Google-made apps wont work. In order to enter the foreign market with diverse legal and safety standard Samsung has better to cooperate with the local handset makers like Xiaomi, which offers its own versions of the software or partners with local companies to create such programs.