W6A

Running head: COMPETITIVE ANALYSIS 1

COMPETITIVE ANALYSIS 6

Competitive Analysis

Competitive Analysis

Samsung Inc. is known to be one of the most reputable companies that have enjoyed massive success since the year the company was formed. Since 2001, the company is known to be repositioning of its brand and its produces together with its major competitors Sony and Apple. Research that was conducted on the company show how advertising and promotion strategy changed to achieve these objectives. The Samsung Group is a South Korea company and is known to be the second largest conglomerate in terms of revenue different product has. Some of the items include the slimmer panels, semiconductors, home appliance among other products. With Samsung increasing its market share through selling of various products, it should compete in the market in a way that it stands at the top most position. The company has focused on plenty of things for the past years that will enable it to compete with other market leaders such as Apple and Sony (Kumar, 2016). 

Product innovation

Apple is considered to be one of the most innovative company. Their innovative technologies are majorly exhibited by the quality smartphones they produce. Samsung also has plenty of innovations in the various electronic appliances sectors. Samsung has a wide range of products, something that is attributed to its current position in the electronic markets. The company has positioned itself on the technology platform. Samsung’s products are being used widely and have attained global recognition. The company has responded to the global business through adoption of advanced technologies, production of competitive products and constant innovation (Filatotchev& Bruton, 2017).

Pricing

Price plays an important role in a business. Pricing has hugely contributed to the success of Samsung Company. The company sales similar products to its competitors at a much cheaper prices. The good pricing strategy has worked best for Samsung. It is important to point out the fact despite the lower price, the quality is not compromised. Customers always get the value for their money (Kumar, 2016). 

Target market

Samsung has a wide target market compared to its competitors Apple and Sony. The company produces a wide range of items or products that are being sold to various customers. The customers could be professionals, college or teenager among other consumers. The company has plenty of product for higher income class people and do not have variety of products. Samsung has its target market being plenty of countries with it enjoying a strong hold in the Asian countries something that Apple and Sony has not achieved (Filatotchev& Bruton, 2017).

Design of product

Samsung has a unique product design and is unique and stylish form. The company overhauls its product design every two years. Since 2006, the company has been able to 210 awards from the internationally prestigious design institutions. Samsung is known to have won in eight categories and is known to be a winner in most awards. The company’s design continues to be admired all over the world by various clients (Kumar, 2016). 

Marketing

Marketing is among the major driving forces for a success in a product or a brand. Samsung has been able to master its marketing strategies and is working in their favor. The company’s success in the marketing section is attributed to the huge investment the company has in its marketing section. Its marketing brings out the fact that Samsung is the most trusted brand in the market. The company hires celebrities as its ambassadors and have various contracts with them. Over the years Samsung has experienced an increase in its global brand recognition. Samsung is ranked to be amongst the World most valuable brands (Kumar, 2016). 

Sustaining growth

The company’s continues growth is attributed to the success in the market in plenty of ways. The company’s earnings have massive grown over the year with it posting upward trend in its earning. The company in 2005, surpassed its competitor Sony and for the first time became the World’s largest and popular consumer electronics brand. The company has remain stable for a long time due to its strong management system together with marketing system. In 2007, the company is known to have overtaken the American rival Motorola making it to be the second-largest mobile phone manufacturer (Komninos, 2016).

Distribution channel

There are plenty of distribution channels that Samsung Company has adopted in various countries that has enabled it to stay on top of its competitors. Together with the launch of various new products, the company has a strong distribution system. The company has 18 state-level distribution in India and direct dealers. Direct dealer interface that has been adopted by the company is beneficial for the company and is enable to launch products according to consumer needs (Akwetey, 2015).

Advertising and sales promotion

Samsung has better strategies of advertising and promoting of their products. They promote their products through sports and are major sponsors in many sporting events. This is something that is not commonly seen with its competitors. The company has been able to grow its reputation through promotions and advertisements.

Reference

Akwetey, L. M. (2015). Global Business Ventures, Foreign Direct Investment, Expansion, and Growth Strategies. In Global Enterprise Management (pp. 19-37). Palgrave Macmillan, New York.

Komninos, N. (2016). Smart environments and smart growth: Connecting innovation strategies and digital growth strategies. International Journal of Knowledge-Based Development, 7(3), 240-263.

Kumar, D. (2016). Enterprise growth strategy: Vision, planning and execution. Routledge.

Filatotchev, I., Su, Z., & Bruton, G. D. (2017). Market Orientation, Growth Strategy, and Firm Performance: The Moderating Effects of External Connections. Management and Organization Review, 13(3), 575-601.