Swot Analysis Of Samsung

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Strategy: Born as a trading company in 1938, Samsung soon diversified into a number of areas. As of the present day, the company’s most important industrial subsidiary is now Samsung electronics which is the world’s largest information technology company based on 2012 revenues. Electronics industry is no doubt one of the fastest growing industries of the world today, given the huge amount of attention and research work the electronics field is gathering. Once a luxury, mobile phones now have become an integral part of our lives these days. While the patent war seems to be never ending in this era of huge competition, research and development seem to be a solution. The company should focus on developing new technologies that are more appealing…show more content…
Most people seek better hospitality before better performance. The company must first gain the trust of people who decide its fate. It is losing its market also because its goals and ambitions do not suggest any intentions of the company to improve its relations with the costumers. There have been various performance complaints regarding its new range of products but there seem to have been very few changes, not enough to keep the costumers, who are now looking for alternatives and other companies sure know how to take advantage. So, the company needs to redefine its goals to lure people back into its folds before it completely loses its market to better caterers. The company plans on entering new market sectors like healthcare and biotechnology. But before they do that, they must gain complete trust of their customers. People will never trust their lives with a company they cannot trust their phones with. Besides these, the company also faces problems from within. With its chairman facing charges of tax evasion and breach of trust, the company red-facedly announced its plans on changing its governance and hope that the indictment would serve as an opportunity for voluntary…show more content…
Hence, the most important part of the company’s strategies must include plans to improve its research and development wing in order to improve its present records of reducing markets everywhere including India, China as well as the European nations. Innovation is the mother of all marketing strategies. If a company has innovative ideas, it has the world’s attention and it has the biggest share in world market. The company must improve its marketing plans and include its strategies, in all advertising domains, that emphasize upon company’s initiatives that are meant for the betterment of the society, like its initiative for developing eco friendly products under its ‘Eco Vision’. Eco-friendly products grab a lot of attention these days, given the huge attention that they deserve. The company must also work to develop more technologies that appeal to the sentiments of people, focusing basically upon eco-friendly ones and incorporate more programs like its ‘Samsung hope for children’ program. Once the company has people’s trust, anything that it produces would become a new hope for

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