Recommendation Of Business Strategy For Samsung

Question: Describe about theRecommendation of Business Strategy, Samsung?. Answer: Recommendation on Business Strategy Company: Samsung Korean conglomerate Samsung is global leader in electronic and telecommunication the company is retaining its presence in all the continent of the world as a product and service provider. In mobile phone industry it has grab the market with smart phones in this sector it is the close competitor of Apple. Supply chain management system of the company is one of the factors of the competitive advantage. The recommendation has been stated in this paper on the basis of its present strategy and the market performance. Optimum strategy for global market: 1. Gain Competitive Advantage through Vendor Specification The group has demonstrated its excellence in supply chain and made clear indication of developing competitive advantage out of this. It is the time to concentrate on vender specification on the basis of local economy. 2. Opt for Tax Sanctuary as Global Location There are some area in globe those may offer advantage of tax sanctuary to the group, such as California, USA. The selection of geographic position must be done on the basis of past business relationship between the specified location and the groups country of origin. 3. New Gaming Monitor for France French computer peripheral is not that conducive enough to explore. The demand for laptop is electric in nature. The demand for the product is highly responsive to the market price. Desk top sales have dropped considerably. Since 2014 monitor sales started to recover due to the demand from gamers Samsung need focus on this development and make penetration in this market segment. 4. Reduce Investment for India As a member of emerging economy India is conspicuous for its population. Computer sales have dropped 6% in total volume in2015. National government is no longer taking initiative to distributing free laptop to the students. Drop of unit price couldnt contribute any improvement in market trend. In this market scenario company shouldnt pay much investment for Indian market. 5. Innovate Improve Tablet for Africa Africa has exhibit an optimistic picture in terms of market growth. Tablet is in focus point of this development. Unit price for tablet is getting decline but the demand has been noticed in this segment but most of the market share has been taken by Apple by the quality of their product. Samsung need to improve their product and reduce their productto gets the market. 5. development of Strategic Communication The company is developer of telecommunication equipments are there under the service category advertisement construction entertainment, financial services, hospitality information and communications technology, medical and health care services, retail and ship building is failing. Brand presence does substantiate the credibility of the company to the grater mass, the importance of the brand communication become relevant here. The advertisement and the mass communication tool need to get use according to the corporate strategy to develop a mass response for the international standard product or service 6. sustainability through Standardization Since the inception throughout the development years company propagated its reliability as a brand to the customer. According to the holistic approach a brand is much more than product (Ambler and Styles, 1997). Product standardization can help the company to gain the sustainable reliability. 7. Facilitated Customer Loyalty This company has enshrined its name as worlds first maker of LCD screen display panel, and eventually become worlds largest manufacturer of that. After attaining establishment as a global brand in world market the company has started to enjoy the associated attributes of that status. Global brands are associated with prestige (Han, 1990). This association makes the company closer to gain a comprehensive customer loyalty (Kapferer, 1997). In order to ensure this the company needs to opt for end customer generalization. 8. Loyalty through Emotional Bonding Consistency of the success can offer a strong emotional bonding between the brand and its stake holders the company should make an attempt to get leverage from this. 9. Gain Synergy through R D As well as marketing development too. Gap identification is one of the cardinal finding in marketing research. If the evaluation of the value proposition has been dome on the basis of the financial result contemporary research is saying that this result can be treated as financial hypothesis of the value proposition made by the company ((Kohli and Jaworski 1990). From this context company need to distinguished itself from its previous position of homogeneous product developer as the competitors to a solution provider of leant demand in the market. 10. Improve Exclusiveness The exclusiveness of the value proposition will be the optimum product leadership strategy in this juncture. Consumer prefers to be with the latest technology rather than a brand. The strategic RD of the company is helping it to become the initiator of certain advance technological trend the suggestion can be given in this regard that the company can quote a comparative price and lowering the initial offering. This model of pricing will help company to gain dominance over the market and keep it ahead from other competitors. Competitive market place determines the effectiveness of the four Ps of marketing in a relative value but not the absolute. Strategic decision regarding pricing demands instant reaction from competitors side and that is the epitome of commutative reaction among the firms (Sudhir 2001). According to history of the firm there is an obvious trait that can get noticed it is as a brand Samsung tend to introduce new product or improve representation, after considering this it seems price leadership will lead the company to the product leadership. Emotional bonding can lead towards customer retention and sustainability of the patronage. From the perspective of offensive marketing it can be said that sales is the only means to improve market share, but some scholars has been identified that sales is the result of promotional activity and some other variables (Rust,and Zahorik1993). Pricing belong to those and that can lead the firm such as Samsung towards a sustainable relationship with the customers and that must be the future global strategy for the organization. In the case if Samsung brand positioning can get described by Maslow Pyramid. Abraham Maslow described the structure of human aspiration by a graphical depiction of a pyramid where the self actualized status is the highest of the human attainment (Wahba and Bridwell 1976). The subjective nature of the term can get articulated as the graphical representation of apex of attainment. To justify its stand in this regard the company need to reinvent it self. Conclusion: As a global brand Samsung has traverse long way and establish itself in a prominent position. Being a global conglomerate the brand evolution is the representative if the future development. The brand itself is the market leader of the technology market and strong competitor of Apple in mobile phone market. The enriched status of the brand is waiting to get evolved in a higher level. The future strategy of the company should be equipped to address higher demand of quality customer and this can offer a conspicuous position and sustainability in the market. Reference: Ambler, T. and Styles, C., 1997. Brand development versus new product development: toward a process model of extension decisions.Journal of Product Brand Management,6(4), pp.222-234. Han, C.M. and Terpstra, V. (1988) 'Country-of-origin effects for uni-national and bi-national products', Journal of International Business Studies 19(2): 235-256. Kapferer, ].-N. (1997) Strategic Brand Management, 2nd edn, Kogan Page: Dover, NH. Kohli, Ajay K. and Bernard J. Jaworski (1990), Market Orientation: The Construct, Research Propositions, and Managerial Implications, Journal of Marketing, 54 (April), 118. Rust, R.T. and Zahorik, A.J., 1993. Customer satisfaction, customer retention, and market share.Journal of retailing,69(2), pp.193-215. Sudhir, K., 2001. Competitive pricing behavior in the auto market: A structural analysis.Marketing Science,20(1), pp.42-60. Wahba, M.A. and Bridwell, L.G., 1976. Maslow reconsidered: A review of research on the need hierarchy theory.Organizational behavior and human performance,15(2), pp.212-240.