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Company Case - Samsung

In: Business and Management

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1) How was Samsung able to go from copycat brand to product leader? (Armstrong, Kotler, 2011, pg. 576-578) In 1993 the CEO of Samsung created a new strategy for the company. CEO Lee called it “new management.” The goal that he set for the company was to dethrone Sony as the biggest consumer electronics firm in the world. The company hired new employees with fresh new ideas that were bold and stood out among other products. Every product had to pass the “Wow!” test and if it didn’t get the reaction they were looking for, it went back to the design studio. Samsung achieved the goal in less than two decades.

2) Is Samsung’s product development process customer-centered? Team-based? Systematic? It sounds to me like the development process involves all three. With systematic, the company can use an innovation management system to collect, review, evaluate, and manage new product ideas (Armstrong, Kotler, 2011, pg. 259). Being team-based, the different departments work closely together, overlapping the steps in the product development process to save time and increase effectiveness Armstrong, Kotler, 2011, pg. 259). Being customer-centered, Samsung is designing products that create customer-satisfying experiences. Samsung knows what customers get from other leading brands and they are trying to produce something that is of a higher caliber and better all-around product (Armstrong, Kotler, 2011, pg. 258).

3) Based on the product life cycle, what challenges does Samsung face in managing its high-tech products? Samsung could be facing the challenge of competing with companies such as Apple. Pricing on unique features also comes into the challenge and competing with other companies (Armstrong, Kotler, 2011, pg. 578). Samsung will have to keep up on new trends and develop electronics one step ahead of their competition.

4) Will Samsung likely achieve its...

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