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Product management and situation analysis

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Product statement

Samsung is a South Korean company that operates globally which has made it possible for the company to experience benefits of a large market (Michell, 2010). The conglomerate organization has its headquarters in Samsung Town, Seoul. The company was founded by Lee Byung-Chul on March 1, 1938, which proves that the firm is 78 years old. The organization provides products that comprise of electric components, telecommunications equipment, apparel, medical equipment, chemicals, and semiconductors among others. Some of the services provided by the firm are healthcare services, advertising, financial services, information and communications technology, entertainment, and construction among others. The company is believed to have started as a small trading company with an average of forty workers. At first, the firm dealt in locally-grown groceries, dried fish, and making of noodles. The company has since continued to succeed to the current situation by providing increased number of diverse products and services. Also, the company has grown to own several numbers of subsidiaries and businesses in different nations.

The fact that there is increased level of competition has led to the situation by which the company works hard towards the provision of quality products and services. Many organizations have continued to enter the market which requires Samsung to identify the best techniques and strategies that will enable it to maintain its position in the market and gain a competitive advantage. Therefore, the Samsung Group wants to introduce a tablet who name is Galaxy Mini S so as to make sure that it improves the customers’ satisfaction and compete for a larger market share.

The Samsung Galaxy tablet refers to a computing device that makes it easy for people to perform a series of functions in an effective and efficient manner. The company has provided a series of tablets for a number of years which have continued to impress the public leading to an increase in sales. The company targets enterprises which would need to use the portable tablets in place of large computers. Also, the tablet provides game apps that can be used for entertainment which has led to the success of the tablets in the market. Therefore, the introduction of the new tablet is so as to make sure that the company attracts more customers and provides a product that helps it earn a competitive advantage in the market.

External environment analysis

Samsung has been identified to be the largest manufacturer of smartphones, mobile phones, and tablets that enable it to reach a large market. It is also the largest producer of LCD panels and televisions in the world which identify that it is of great value and significance to the society. The company continues to succeed and expand which suggests that the introduction of the new tablet has a higher possibility of excelling. The brand competitors are Apple Inc, Lenovo, and Motorola Xoom among others while the product competitors are Dell computers and Sony. These competitors pose a great risk to Samsung because they produce products that are almost of the same quality performing the same functions. However, they have a smaller market share compared to Samsung which suggests that they earn a lower income than Samsung. Their strengths are that they provide quality products and operate globally while their weaknesses are that they experience competition from other companies and incur high costs in coming up with quality products.

Technology development affects the charge in that after some time the customers will be in need of a better quality product. Also, the current specifications of the tablet may be outdated if another company provides a product of high quality to the market which will require Samsung to either improve the product or introduce a new product. The fact that the Samsung Group is the largest in the world proves that the newly introduced product has a chance of experiencing high sales that will lead to high profits (Rodiek, 2008). The company has already built a corporate image which enables it to attract potential customers.

Some of the government regulations may prevent the company from entering new markets easily. However, most of the states have provided intellectual property rights that ensure there is no single organization that will try to copy the specifications of the Samsung Group which protect it from exploitation. Some of the cultural trends that will affect the introduction of the new product are value orientation and giving back to the society. Provision of quality and affordable products and ability to maintain corporate social responsibility will attract a large number of customers.

Customer environment analysis

Samsung Group focuses on the retailers in Europe and the United States which have made it possible for it to maintain a steady sales channel for its commodities and services. The buyers’ purchasing power and the company bargaining power influence the purchasing decision. The Company serves the whole world which has been possible by creating a numerous number of stores in different countries. Electric commerce has also made it possible for the company to advertise its products and access customers’ feedback.

The company provides a continuous supply of products enabling customers to purchase goods anytime. The firm has also maintained advertising and promotional strategies that lead to success by meeting the psychographic needs of people in different geographical areas. Other companies provide almost the same product but Samsung has made sure that it provides quality goods so as to compete advantageously and meet changes in customers’ needs. Customers pay for the products on a cash basis which prevents the occurrence of bad debts. There will always be unsatisfied needs because of taste and preferences among people. The charge will provide low priced commodities so as to attract more customers and conduct an increased level of advertisement and promotion so as to make the product known to the public.

Internal environment analysis

The company has been able to achieve a corporate image in the world which makes it possible for the charge to succeed. The company has a large marker share which has led to the achievement of its objectives through increased profitability. The company provides affordable prices and maintains efficient distribution channels that have continued to attract a large number of customers. The firm uses advanced technology and maintains a high production level which satisfies the needs of the market. The use of skilled and experienced personnel will enable the introduction of the new tablet to exceed (Hill, & Jones, 2010). Also, the company maintains a good relationship with its customers by answering all their questions that will ensure that the firm incorporates the necessary qualities in the product leading to the success of the product.

Samsung’s financial performance

Revenue	US$ 305 billion(2014)
Net income	US$ 22.1 billion(2014)
Total assets	US$ 529.5 billion(2014)
Total equity	US$ 231.2 billion(2014)

Histogram

Series 1-revenue

Series 2-net income

Series 3-total assets

Series 4-total equity

References

Hill, C. & Jones, G. (2010). Strategic management theory : an integrated approach. Mason, OH: South-Western/Cengage Learning.

Michell, T. (2010). Samsung Electronics and the struggle for leadership of the electronics industry. Singapore Hoboken, NJ: Wiley.

Rodiek, C. (2008). External Environmental Analysis - The U.S. Television Manufacturing Industry. München: GRIN Verlag GmbH.