Samsung electronics Industry Corporation was created in 1969 as a division of Samsung group, and the name of corporation was changed to the current name which Samsung electronics in 1984. Mainly it manufacture and exported electronics products, which include color TV, electronic calculator, electronic watch, electronic cash registers, as well as electronic home appliances such as refrigerators, air conditioners, washing machines, an also telecommunication devices. Especially, it recorded the outstanding number of manufacturing black and white TVs which was going up above 10 million and took top of the world in terms of export of black and white TVs.
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It succeeded to develop super mini VTR (8mm) in 1983, started to export VTR in 1985, and merged Samsung semiconductors and telecommunication cooperation in 1988.
Since then Samsung electronics has dramatically grown as one of the world’s leading electronic giant with branches all over the world. Now millions of Samsung electronic products are being manufactured and sold every day and its product is seen in almost every house around the world. Samsung electronics has one of the best inventory management systems, supply and distribution chain in the world and its products are unique and durable with dedicated, efficient work force. Also, its research and development department is second to none in the electronic industry hence we decided to carry out this in-depth analysis to access the various strategies they have being applying since their existence and to advise them on the possible strategic options available to them now and in the future.
Michael Porter stated that for any business entity there are 5 forces in action, these forces can have a great influence on the current affairs and strategy of the business. These forces consist of the following factors.
Buyers are the driving force of any industry including the automotive sector. Buyer behaviour is an essential part of marketing strategy and in-depth studies and research have been conducted to try to understand buyer behaviour. Typical question to ask when considering buyer behaviour are, who are our buyers? How do they buy? When do they buy? Where do they buy? Why do they buy?
For Samsung electronics the brand strength allows them to make radical changes as they have a large base of loyal customers (due to an long history of building quality electronics), this has been evident with the radical exterior design changes to the Samsung product line up. Thus Samsung can be considered as a trend setter in their respective markets. This is a powerful position as it allows for some control of the direction of the future markets and trends. But strong competition from their rivals ensures that the changes aren’t too radical as they may lose customers to their opposition.
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