Marketing Principles (MKT101)

Name Đinh Quốc Huy

Student ID HS179008

Class IB1806

Email Huydqhs179008@fpt.edu.vn

Comments from lecturers Scores

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 Outline
Page number Question
3 1.How was Samsung able to go from copycat brand to product

leader?

5 2.Is Samsung’s product development process customer centered?

Team based? Systematic?

6 3.Based on the PLC, what challenges does Samsung face in

managing its high-tech products?

7 4.Will Samsung likely achieve its goals in markets where it does

not dominate, such as smartphones? Why or why not?

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 1. How was Samsung able to go from copycat brand to product leader?

* Samsung has come a long way from being a copycat brand to becoming one of the world's leading

consumer electronics and technology product manufacturers. Here are some key factors that Samsung has

adopted to achieve this success:

- In 1993, the management had clear and ambitious goals. Goal: want Samsung to be able to dethrone

Sony to become the world's largest consumer electronics company.

- Instead of imitating, they want to lead and differentiate by Focusing on research and development:

Samsung has invested heavily in the research and development of its products. The company has hired a

wide range of young, fresh designers who have launched a series of stylish and innovative new products.

This has enabled them to create products with innovative technology and unique and trend-leading

features.

- Samsung has changed its distribution partners to optimize its business strategy and meet the needs

of the market. For example, The change of distributors from Walmart and Kmart to Best Buy and Circuit

City.

• Because: they want to Focus on the target customer group: Best Buy and Circuit City are retailers

specialized in selling technology and consumer electronics products, which are more relevant to the target

customer group. by Samsung. While Walmart and Kmart focus on selling cheap and diverse products.

• Quality of customer service: Best Buy and Circuit City are considered retailers with a higher quality

of customer service than Walmart and Kmart.

• Marketing strategy: Best Buy and Circuit City are considered retailers with a better ability to

promote products because they focus on technology products and consumer electronics.

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 - Building brand image: Samsung has implemented advertising and marketing strategies on major

media such as television, magazines, and newspapers ... in addition, they regularly sponsor big events

such as Olympic Games. , World Cup, and international film competitions. Thanks to these sponsorships,

they have created a good connection with customers around the globe. Build a strong and trustworthy

brand image.

- Customer focus: Samsung is always focused on customers and their requirements. Samsung has

conducted regular customer surveys to better understand the needs and wants of its customers. Also

Customer Support through online and offline channels, phone support, and live chat.

- Adjusted business strategy: Samsung has adjusted its business strategy to focus on higher-end

products and improve product quality. They have also scaled up production and distribution to meet the

growing market demand.

* From the above conditions are necessary and sufficient for Samsung to develop and the results are:

- In less than two decades, Samsung Electronics has achieved its lofty goals. In 2009, the company

posted sales of $117 billion with a profit of $8.3 billion.

- Interbrand named Samsung as the fastest growing brand in the world for 5 years.

- Samsung reached 17th place on Interbrand's list of most valuable global brands as Sony dropped to

29th place.

- Samsung is the world's largest consumer electronics company since 2005, It is the world's largest

TV manufacturer and second-largest mobile phone manufacturer .

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 2. Is Samsung’s product development process customer centered? Team based? Systematic?

* Samsung's product development process can be thought of as customer-centric, team-based, and

systematic.

- Customer-centric: Samsung emphasizes understanding customer needs and preferences in its

product development process, which includes multiple stages from understanding the customer, concept

generation, design, product development, testing, and operation. In this process, Samsung will work with

customers and target groups to learn about customers' needs, habits, feelings, and desires. The company

conducts extensive market research and uses customer feedback to make product design decisions.

Samsung also values user experience, usability, and accessibility in its products.

- Teamwork: Samsung uses a team-based approach to product development, with cross-functional

teams working together to design and develop new products. These teams often include members from

different departments, such as design, engineering, marketing, and quality control. Team members play an

important role in the product development process. They work together to conceptualize, design and

develop products. Each member has different expertise and contributes to the product development

process. Interaction between team members also helps to accelerate product development and deliver

innovative solutions. Therefore, Samsung relies on teams for product development and uses a teamwork

approach to develop products. Ensure products meet customer requirements.

- Systematic: Samsung's product development process is highly structured and systematic. The

company follows a phased gate process, which includes multiple stages of development and review

before launching a product. This process includes ideation, concept development, design, testing, and

commercialization.

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 * Overall, Samsung's product development process is customer-centric, team-based, and systematic,

reflecting the company's commitment to providing high-quality products that meet needs and preferences.

of customer.

3. Based on the PLC, what challenges does Samsung face in managing its high-tech products?

* Although it is a large corporation with quality products, the world is always changing and so are

technology products, products always have their life cycle.

* Management challenges:

- Fierce competition: Samsung's high-tech products have to compete with other competitors in the

industry, including Apple, Huawei, Xiaomi, etc. To be successful, Samsung must design and develop new

products and continuously improve them to meet customer needs.

- Product innovation: Samsung's high-tech products need to be constantly innovated to meet user

needs and keep up with the latest technology. However, this product innovation can require the great

expense and investment of time and effort in research and development.

- Rapid Market Change: The technology market is always changing rapidly and is not easy to predict.

Samsung must always keep itself updated with the latest trends and adapt to the changes in the market so

as not to be out of date.

- Product Lifecycle Management: Samsung must manage the product lifecycle from introduction to

exit from the market. This requires the company to devise appropriate strategies for product management,

including advertising, pricing, maintenance, and customer support.

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 - Sustainable development: with increasing products, more raw materials and equipment will be very

expensive. In addition, Samsung must ensure that its products not only meet the growing needs of

customers but also meet environmental and social protection standards. This requires companies to have

sustainable development strategies to ensure that their products meet environmental and social protection

standards.

- Reaching customers: Samsung must reach and retain customers to increase sales and create

customer trust. Reaching out and building relationships with customers can be costly and resource

intensive.

4. Will Samsung likely achieve its goals in markets where it does not dominate, such as

smartphones? Why or why not?

* According to me, Samsung can still achieve its goals in new markets like smartphones. But it is a

difficult task when the smartphone sector has a lot of competitors like Apple, Huawei, Xiaomi, etc.

* However, Samsung has several salient features to achieve its goals in new markets:

- Research and development: Samsung invests heavily in research and development to create new

products and improve existing products. Samsung has proven its ability to design and develop products

such as TVs, air conditioners, washing machines, and other electronic devices. This shows that the

company is capable of developing new products and meeting customer needs.

- Strong Brand: Samsung is a well-known brand globally and has a strong influence in the market

with electronic devices, they have experience, reputation, goals, product development, and resources from

the production of other electronics. so they have built the trust of users. Also, their strong brand can help

them attract new customers and retain old customers.

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 - Go-to-market strategy: With the development of technology and an e-commerce network, Samsung

is also focusing on online advertising and marketing to reach customers in new markets. Samsung has an

extensive and effective go-to-market strategy, which includes advertising, promotions, discounts, and

more. This can help the company attract new customers and expand the market. In addition, Samsung is

also looking for new partners to strengthen partnerships and expand its presence in new markets.

- Product diversity: Samsung offers a wide range of smartphone products to meet the needs and

preferences of customers in different segments. Such as Galaxy S and Note series for high-end customers,

Galaxy A and J series for mid-range customers, and the Galaxy M series for general customers. The

diversification of products helps Samsung reach a wide range of customers and expand the market.

- Competence against rivals: Samsung can go head-to-head with competitors and develop products

and services to compete with them. For example, at the time of 2019, Samsung's biggest competitor in the

smartphone field is the missing apple, instead of following the mold of design and features, Samsung

produces phones with high resolution and manufactures a line of foldable phones, creating a breakthrough

in design that competitors have not yet been able to do. From there, it shows the continuous efforts of

Samsung.

* That shows Samsung's potential in the smartphone field and that they can achieve their goal if they

continue to do well and breakthrough as they have done in other electronics fields.