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SAMSUNG : Redefining A brand Next 20 min Profile Global Electronics Industry Samsung Group of Companies A Valuable Brand Samsung Electronics comes of age Redefining Samsung Brand Canadian Electronics Market Samsung Electronics Canada Challenges and Decisions Profile • • • • • Type Industry Founded Founder(s) Headquarters : : : : : Chaebol Conglomerate 1938 Lee Byung-chull Samsung Town, Seoul, South Korea Worldwide Samsung.com • Area served • Website : : Global electronics industry 1960s - early 1990s - Analog technology Established consumer electronics companies are Sony, Toshiba, Hitachi, Panasonic. Samsung focused on contract production of electronics for established brands Expanded the semiconductor industry DRAM,VLSI. 2000 - Digital technology Traditional electronic manufacturers could not dominate new markets Samsung started to market its own brand. As the adopters of digital products were teenagers and young adults resolved to become a leading company. Samsung Group of Companies 2003 2002 1970s-1980s 1938 Small trading company 1,75,000 employees worldwide in 67 countries sales $116.8 billion ranked 59th in Fortune 500 and 15th in Asia top 50. A Valuable Brand Major factor behind the impressive growth • Redefine itself as a vendor of cutting-edge, “gee whiz” consumer technology. • Brand repositioning was seen as vital to the company’s future success J.S Park • President of Mississauga, Ontario-based Samsung Electronics Canada (SECA) • Charged with developing a strategy for managing the evolution of the Samsung brand in the Canadian market. Problem • Consumer product line :low- to mid-range products are sold at affordable prices. • North American and European consumers still saw the company as a follower rather than a leader in bringing new consumer technologies to market. Samsung Electronics comes of age • . 1980s - Unknown outside Korea 2000 - Became credible player by introducing latest technology. 2003- Achieved market leadership. By launching 95 new products in US Samsung innovation from 1997 Samsung expertised in memory chips and visual displays Wireless telephone World’s famous leading producer of static random access memory SRAM Fully integrated PDA mobile telephone device Launched digital light processing tv set Manufactured thin film liquid crystal displays Samsung success • • • • Product innovation Market acceptance Leadership in key digital technologies. Successful execution of brilliant marketing strategies. by Louis Kim marketing manager-SECA Redefining Samsung Brand Steps to enhance brand awareness 1999 • worldwide campaign – tagline ”SAMSUNG DIGITall - everyone’s invited” 2000 • Sponsored Sydney Olympic Games. 2002 • paid to prominently featured Samsung mobile phones in 2 popular science fiction films “The matrix : reloaded and the matrix : revolutions”. • Changes made in company’s distribution strategy. Steps to move its image upscale Samsung Electronics redirected the focus from mass merchants to specialty retailers - Best Buy, Circuit City