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Samsung Case - Innovation

In: Business and Management

Submitted By tycoon91
Words 645
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►Samsung
• Assessing the opportunity and the Situation
- Understanding the situation
►What was Samsung’s financial situation like? Samsung was experiencing a steep financial setback
►Who was responsible for Samsung’s situation? China was able to put cheaper products on the market
►Describe Samsung’s ‘cost-driven competitive strategy’ until the mid-1990: Samsung produced technical components for firms with better-known brands Samsung sold me-too consumer products
►What did Samsung need to do? Samsung needed to change its business model
- Assessing the Opportunity
►What is happening in the high-tech world in the mid 1990’? The uprising of the Digital Age
►Why is this an opportunity for Samsung? Samsung would focus on developing the core technologies of the Digital Age. While Sony and other rivals remained in the analog world
►What did Samsung know about the end user? The customer was ready to pay a premium for innovative and well designed products, offering unique benefits
• The Marketing approach
- The Samsung Marketing Approach
► Did Samsung re-branded itself as a high-quality brand? TRUE
► When going back to the drawing-board, product improvement was driven by: Technical innovation and R&D, New Product Development and Design
► To re-build the brand, communication insisted on: The new image of the brand or brand image, Developing awareness, Ensuring availability of the product, Developing client after-sale service
- Describe Samsung’s Marketing Actions:
►The distribution policy:‘Pulling out of low price discount chains… and being distributed through quality-oriented electronics specialty stores’
►Advertising strategy:‘Creating fashion-forward TV commercials to show off Samsung’s cool sense of style’
►Guerilla approach to promotion strategy: Trading product placement in movies to links to entertainment products from partner companies, such as...

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