Excellent Marketing Initiatives by Samsung

Introduction

Companies must be doing something right if they are to survive in this competitive environment for many decades. This rightness can be in terms of product innovation, brand building, and customer relationship development and maintenance. Korean buyer gadgets Goliath Samsung has been available starting around 1987. Samsung is the central participant in electronic merchandise going from cells, TVs, forced air systems, LCDs, fridges, and electric razors. Samsung, today, is one of the top hardware organizations on the planet. Thus, it has become basic for us to grasp the set of experiences and development of the brand, or, in straightforward terms, the excursion of Samsung as a brand.

Let us learn about Samsung's excellent marketing strategies as well as its origins and growth trajectory in this article.

Birth and Development Direction of the Samsung Brand

Samsung was established in 1938 in Korea. Prior, the Samsung brand was an exporter of Korean fish, vegetables, and natural products. In 1970, Samsung developed into an exporter of significant worth estimated products, and in 1980, the organization engaged in the first gear maker (OEM) business and sold it under the Samsung brand name. It was the point at which the first proprietor passed on and his child, Kun Hee Lee, assumed control over the organization that it chose to make Samsung the top-most brand with regards to hardware.

Samsung, as a brand, initially focused on having a large market share and selling the products at greater volume than profitability. A similar strategy that Reliance Jio followed in India and is currently the leading brand when it comes to telecom services. However, in the late 1990s, when Asian companies faced huge financial blowouts, Samsung changed its operational strategy.

Samsung deals both in the sale of electronics and the manufacturing of electronics parts. This is another reason that Samsung has major competitors like Apple, Nokia, Sony, Google, Oppo, Vivo, One Plus, and others. Samsung has a very strong supply chain, and since it is manufacturing the product being used while creating the electronic devices, it is easier for the company to cut costs as well as bring innovation to the devices.

Excellent Marketing Initiatives by Samsung

The key initiatives by Samsung that have helped the brand secure its position in the hearts of consumers all over the world will be discussed below −

Repositioning of the Brand and the Brand Values

Kun Hun Lee, the founder of the brand, has repositioned the brand values of Samsung not once but twice. When Lee took over the brand from his father at that time, he shifted the entire workings of Samsung and started building Samsung as a brand that could be one of the top sellers when it comes to electronics.

Along with this, during the 1990 financial crisis, Kun Hun Lee repositioned the major brand values of Samsung. Before the crisis, the brand used to stand for marketing capitalization and value sales, and after the crisis, the brand started standing for product quality, complete customer satisfaction, and manufacturing flexibility. With these strategies in place, Samsung was able to send the product from the research and development stage to the store shelves in a 6-month time frame.

Sponsorship of the Events

Samsung, as a brand, understood that customers needed to have a positive association with the brand. The name should stir up some positive events or happenings, and that is why Samsung has been the sponsor of the Olympics since 1998. Samsung has also been involved with other sponsorship events.

Product Innovation and Product Line Diversification

Samsung understood that consumers are demanding and would be asking for more and more. Samsung wanted to be the top brand when it comes to electronics, so it ensured to come up with new and innovative products as well as expand its wing in various compartments of electronics to become a household name.

Samsung is present in smart phones, flat-screen TVs, digital cameras, batteries, digital appliances, smart phone parts, and semi-conductors. Another important note is that Samsung was the first to come up with MP3 players in mobile phones, Blu-ray disc players, and smartwatches.

Effective Collaborations with Big Brands

Samsung joined hands with Sony, the long-time market leader, to develop the state-of-the-art LCD factory in South Korea and signed an agreement to share 24000 basic patents for components and processes. Instead of fearing the competition, Samsung joined hands with them to ensure development for BPOTH. Also, in 2005, Samsung had passed Sony in the Interbrand ranking for the first time and is proudly doing it today.

Effective Marketing Campaigns by Samsung

Samsung has launched various successful and impactful marketing campaigns. Samsung, as a brand, has believed in aggressive brand building so as to be the household name when it comes to the purchase of electronic items. All the marketing campaigns had the theme of technology, design, and human sensation.

Some of the amazing marketing campaigns by Samsung are - Men are idiots, Imagine, Quietly brilliant.

Operational and Manufacturing Excellence of Samsung

Samsung has always believed in investing its money into research and development (R&D). The company realized that constantly developing new products was the only way to remain relevant in the technology market. Samsung ensured that the company produced new or technologically advanced products at a lower cost because it was in charge of manufacturing, assembling, and selling electronic goods.

From 2005 to 2010, just Samsung put in excess of 40 billion bucks in innovative work. To stay aware of the speed of R&D, Samsung likewise put vigorously in enrolling and preparing their staff.

Conclusion

Samsung as a brand is procuring in excess of 233 billion US dollars. Samsung has more than 260000 employees worldwide and a large customer base. Samsung as a brand is fruitful in the gadgets market since it comprehends that they need to keep its clients pleased. It is currently prevalent in more than 74 nations.

Samsung has always been there to come up with new and creative products that would make their lives better and plan successful marketing campaigns. Samsung has satisfied its image witticism of inventiveness, independence, and open advancement and has had the option to get the place of the world's biggest electronic organization.