Introduction to Samsung Background
Samsung was founded in 1938 in North Korea in the Northern Province of Kyungsang. Its founder was Lee Byung-Chul. For over three decades, specialized in insurance, food processing, retail, securities, and textiles. The present chairman Lee Kun-Hee is the one who laid the foundations after taking over in 1993. His main emphasis was organizational creativity, intellectual capital, employee empowerment as well, as technological innovation. Samsung is a world-class business unit that produces digital camcorders, high-class mobile handsets, household appliances, and wide-screen plasma television screens.
In the beginning, Samsung was known to produce less expensive electronic products, but it has fought so hard to turn over the client’s perception. Since 1993, it has embraced aggressive marketing techniques and branding. The branding philosophy of Samsung has five crucial pillars namely, word-class designs, innovation, top-notch talent recruitment, cutting-edge technology, and internal branding.
Samsung is a substantial investor in R&D to churn coming technologies. In 2016, it was ranked as the second-highest global spender and the top technology spender by the EU Industrial R&D Investment Scoreboard, having spent USD 13 billion in R&D. In 2013, the company devoted an extra USD 4.5 billion on R&D. Across the globe, Samsung has over 5000 people who work in R&D centres. This shows the company’s optimal commitment to developing cutting-edge technology in ensuring a competitive advantage.
Samsung uses any channel to convey its personality as well as the brand’s positioning. These include public relations, mass media advertising, sponsoring sports, placements of products, sponsoring events, Samsung experience retail stores, and experience gallery. The main goal of brand communication is to reposition Samsung as the word-class brand that offers credibility, quality, and design. The second goal is to make the company to be on a par and ensure it is the top electronic brand worldwide.
Samsung has sponsored many international games, electronics, and technology events to advertise and market its product range as well as offering Samsung experience. Some of these events include CeBIT, World Cyber Games, IFA, Comdex, and the Consumer Electronics Show. All these events have given an explicit chance to entertain and educate its customers. The company has also sponsored The Life is Beautiful Festival, which held in Las Vegas and had over 60,000 attendants.
Samsung has come from a humble beginning since 1938 to a world-class manufacturer. In 2012, the company replaced Nokia and became the world’s most prominent mobile manufacture. Some of the future challenges are:
- To become the globally iconic brand and winning global consumers. To achieve this, it needs to enhance its portfolios, brand architecture, identities as well as working to strengthen the emotional elements.
- Samsung is facing more competition from companies such as Apple, Sony, Huawei, Xiaomi as well as Google.
Samsung is a world-class company that produces a variety of electronic products ranging from TVs, tablets, smartphones, cameras, laptops, and accessories. The company faces a lot of completion from other global companies that produce the same products. Overcoming this challenge, the company is trying to maintain consistency, ensuring product quality, creating personality and emotional connections, among other strategies.
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