Need conclusion for the Power Point Presentation for the topic on Samsung Mobile.
SAMSUNG MOBILE
BA60273H619- Management Information Systems
Group D
Divyeshkumar patel (601162) , Nithin Rajendran (596910), Sathyanarayana pegada (596983), Kartik Patel (618834),Karishma Pirani(598415),Kevin Prajapati (621585)
Introduction
Promoting is without a doubt one of the main exercises of an organization, particularly in the present contest driven situation.
As indicated by the American Advertising Association (AMA), promoting could be characterized as “The action, set of organizations, and cycles for making, conveying, conveying, and trading contributions that have an incentive for clients, clients, accomplices, and society at large”.
AMA really refreshes its definitions for promoting frequently, and that demonstrates the way that showcasing exercises, techniques and systems change as for the latest thing; web-based media, for example. A past meaning of promoting by AMA in 2004 characterized showcasing movement as far as its capacity and utilizations (Kemmy, 2014).
Specialists have characterized promoting as a craftsmanship, a method or a system pointed toward drawing in likely clients from the objective gathering.
Karishma Pirani(598415)
Introduction
There is no ideal meaning of promoting till date and various analysts have just depicted their own perspectives on advertising and have additionally supported it.
It’s true that there are different advertising systems followed by various organizations and 52 sorts of showcasing techniques are being used as of date (Kemmy, 2014).
The most popular organizations which have as of now acquired a name for themselves will quite often spend a small measure of their benefits on advertising; generally speaking it is short of what one percent.
Then again, new companies and center reach firms spend much on showcasing to get to the top
Of the relative multitude of different organizations, Samsung Electronics made a forward leap after it understood the significance of advertising in each perspective.
Karishma Pirani(598415)
Introduction
It is one of the organizations that spend a gigantic measure of their benefits as a reinvestment on advertising.
Samsung has the biggest showcasing financial plan in the opposition and this reality to some degree clarifies the administrative role of the business as far as a portion of the overall industry.
Samsung spent a sum of USD 10.2 billion (11.5 trillion won) on showcasing in 2016 alone (John, 2017).
This included USD3.9 billion (4.4 trillion won) toward promotions, a 15% increment from 2015 (John, 2017).
Samsung’s promoting system incorporates different types of publicizing, occasions and encounters, advertising, direct showcasing and individual selling as talked about further beneath in more subtleties.
The worldwide hardware organization has 53 worldwide deals bases around the world (John, 2017).
Karishma Pirani(598415)
References:
John D., (October 5, 2017) Samsung Marketing Strategy: a brief overview. Retrieved from:
Kemmy J., (2014) Samsung´s Marketing Story. Retrieved from:
https://www.grin.com/document/280486
Innovation Strategy
Samsung investment in Research and the development wing has increased every year.
This was one of the initial strategies to capture the market by overthrowing Nokia which was the leading brand in phone making.
Samsung’s allocation for their research and development is four to five percent of their total revenue.
They are strong in R and D is evident by seeing the number of US patents they registered which is much over six thousand.
They are the 4th largest spenders on R&D department compared to other companies.
The amount of patents they have for the screen, camera technology, wireless features are extraordinary, their main plan is to capture the customer with the latest and human-friendly technology.
Nithin Rajendran (596910)
Now coming to allocating for their Marketing and advertisement they are one of the biggest only after amazon.
Their budget for R&D was a whopping 17.5 billion dollars, which gives us a clear idea that their Innovation Strategy is their main focus.
One of the greatest innovations of Samsung which changed the cellular market is the AMOLED Display which is the screen that we use nowadays.
Dual Aperture camera which clicks good picture in low light settings, where Samsung was the pioneer in this technology.
Innovation Strategy
Nithin Rajendran (596910)
AMOLED Display
Dual Aperture
Innovation Strategy
Nithin Rajendran (596910)
Fig: The advertising budget allocated by the Samsung Electronics
Samsung produces new products that are aimed at current market groups and different areas.
Samsung employs a mix of methods, ranging from improving its current goods to totally introducing a new product under its brand name, to achieve its goals.
The smartphone industry, for example, is dominated by the brand Samsung.
Marketing strategy at Samsung is focused on the development of new, innovative goods that are backed by powerful branding and promotional efforts.
Sorin-George & Ştefan-Alexandru (2021) initiated a new competitive strategy with purpose of producing and selling excellent goods while also establishing an image of Samsung as a fashionable, high-quality brand deserving of a premium price.
The goal was to develop a distinct position via technological innovation while producing products that would appeal to a younger generation but also affluent clients throughout the globe.
Divyeshkumar patel (601162)
Product development and design
According to them, continuing to compete on price will inevitably lead to their demise.
Overall design efforts of Samsung are coordinated via a corporate design center that is accountable directly to the CEO, similar to the way Apple handles its design work.
The formation of the Corporate Design Center in 2001, which would report directly to the CEO, enabled the corporation to adopt a more comprehensive approach to design.
Samsung Electronics has established seven global design studios in locations such as Seoul, Tokyo, Beijing, Delhi, London, San Francisco, as well as Sao Paulo to truly be global & attract users from a variety of cultural and geographic backgrounds.
These studios are required to undertake design research across a broad range of areas within the spirit of open innovation.
Product development and design
Divyeshkumar patel (601162)
The human-centered design approach was employed by the Samsung cooperation.
By placing users at the center of the process and starting to understand their requirements and evolving habits, we can make progress toward achieving our goals.
Samsung discovered that it could not only please current clients, but it could also begin to predict changes in the market and society.
Empathize, define, ideate, prototype, & test: these are the five stages/steps in the design thinking process.
Product development and design
Divyeshkumar patel (601162)
Recognizing that cutting-edge technology doesn’t really necessarily equate to commercial success, Samsung placed a strong emphasis on product development and design.
Their objective was to develop items that provide advantages that at least some portion of customers would perceive to be worth the price of the product (Sorin-George & Ştefan-Alexandru, 2021).
Given the subjective nature of several product benefits – such as beautiful style, a cool image, or even camera quality – Samsung’s new product development process normally comprises a team of designers who work closely with the company’s engineers, production teams, and marketing departments.
Product development and design
Divyeshkumar patel (601162)
Sustainability Report
Samsung Electronics’ sustainability the executives esteem is made out of monetary financial and natural qualities and each are determined as sure (+) or negative (- ).
The monetary worth is determined from the net benefit produced by Samsung Electronics during the previous year.
Financial worth is determined by estimating the money related worth brought by organization to significant partners including financial backers and providers, as well as the organization’s commitments to nearby local area advancement.
Natural worth is determined by estimating GHG emanations, waste, reusing, and utilization of water, among others.
Kartik Patel (618834)
Manufacturing with sustainability
Kartik Patel (618834)
The Executives Activities Investment
Interests in CSR programs
Ecological emanations information
Speculations to help our providers, and so on
Research results from worldwide exploration establishments
Carbon cost of relating nation, and so forth
2019 Value Creation Achievements
Manufacturing with sustainability
Manufacturing with sustainability
Kartik Patel (618834)
Fig: This is a True Value graph of Samsung Corporation
Manufacturing with sustainability
Kartik Patel (618834)
From January 1 to December 31, 2019, the complete worth of reasonable administration made by Samsung Electronics adds up to roughly KRW 32.15 trillion. The monetary worth emerged to be KRW 21.74 trillion, somewhere around 51% from 2018 because of the diminished net gain.
Notwithstanding such conditions, in light of our new CSR vision of ‘Together for Tomorrow!’ which seeks after financial worth creation, we expanded our help for people in the future, and have ceaselessly reinforced our accomplice joint effort programs for working on the seriousness of the store network.
Moreover, we kept on extending the utilization of sustainable power since announcing our obligation to go 100 percent environmentally friendly power in the United States, China and Europe to work on ecological worth. Thus, we produced financial and natural worth adding up to KRW 10.41 trillion of every 2019 comparable to that of 2018.
Marketing strategy
Marketing strategy
Latest Features Enhancement
Latest Features Enhancement
Impact on global supply chain
Sathyanarayana Pegada(596983)
Samsung and their suppliers are benefited in the supply chain by making suppliers as their partners.
Samsung runs funding programs to help their suppliers during financial crisis.
Manufacturing Operations are improved by using supply chain management solutions.
Cobalt which is the main and important component for batteries and electric vehicles
Impact on global supply chain
Samsung depends on Democratic Republic of Congo (DRC) for Cobalt. Artisanal Mining (ASM) are the source of Cobalt for DRC who are child labor and human rights violators.
Samsung started Cobalt for development along with other multinational companies in partner.
It ensures to decline human right violations in various countries of Africa.
Sathyanarayana Pegada(596983)
Kevin Prajapati (621585)
Business accomplishment
Samsung has won 48 awards at IDEA (International Design Excellence Awards) due to excellent design of their products (Sahin et al, 2017).
Seven awards were for their cutting edge creations which include: infinity screen design, innovative front panel design for purifiers,and their slim vacuum cleaners.
Three bronze awards were for the premiere projector, home decor frame and 4 door flex refrigerator.
In 2011, Samsung was the first company that was named in the Asia – Pacific index.
In 2012, Samsung was the first company to achieve ISO 50001 (Lee et al, 2015).
In 2021, Samsung received the esteemed award of the manufacturer of the year.
Kevin Prajapati (621585)
Business accomplishment
Samsung is celebrating its 52nd anniversary which means its celebrating one its biggest accomplishments of continuously providing the world with innovative products and gadgets such as phones, wearables, tablets, laptops etc.
Since 1969 to present, Samsung has consistently thrived to explore products which have never been seen and is now manufacturing innovative products that are used on a daily basis by millions of people (Sahin et al, 2017).
Samsung was positioned fifth in 2021 out of 100 international brands with a value of $74.6 billion.
Samsung won $74 trillion in sales out which $62 trillion were recorded. This was a 10% increase compared to 2020 revenues.
Upcoming technologies
Upcoming technologies
Conclusion
Conclusion
Sorin-George, T., Stefan-Alexandru, C. (2021). Innovative Entrepreneurship in the Business of Electronics: The Case of Samsung Company. Network Intelligence Studies, IX(18 (2/2021)), 131–135.
Lee, J., Lee, K., & Heo, J. (2015). Supplier partnership strategy and global competitiveness: A case of Samsung Electronics. Eurasian Journal of Business and Management, 3(4), 1–12.
Sahin, D., Calguner, A., & Yavuzcan, G. (2017). Design awards as a design promotion activity: International design awards. Pressacademia, 4(1), 134–142.
Steve Kovach. (2013).How Samsung Went From A Dried Fish Exporter To One Of The Top Names In Tech. Retrieved from https://www.businessinsider.com/history-of-samsung-2013-2
Samsung Newsroom. (2019). A Journey Towards a Sustainable Future. Sustainability in the Samsung Supply Chain. Retrieved from https://news.samsung.com/global/a-journey-towards-a-sustainable-future-2-sustainability-in-the-samsung-supply-chai
n
References
