Running Head Samsungmanisha Pariyarunit 1 Assignmentproject ✓ Solved

The company that I choose for my project is Samsung, a leading company in the electronic market. Samsung was established as an electronics company in 1969 in Daegu, South Korea, as Samsung Electronics Industries. According to Chico Harlan (9 December 2012), Samsung is a multinational electronics and information technology company not only in South Korea but all over the world. It has plants and a sales network in 61 countries.

Samsung has already established leadership in high-capacity memory, next-generation display devices, and electro-mechanical components (Biotech Business Week, 2010, Apr 05). The reason behind choosing Samsung is its rapid establishment in the market and its high potential to lead it. As a loyal customer of Samsung, I have been able to access new technology with limited resources. While Apple is a leading company in technology, Samsung's competition with Apple has marked a significant rivalry in business history, costing more than a billion dollars and spanning multiple continents.

Throughout the 1960s and 1970s, Samsung centered around assembly and era capability. In the 1980s and 1990s, the company advanced to develop both products and their global quality (Lewin, J. 2015).This project has given me a deeper understanding of Samsung, a brand I have used for more than five years. I have become familiar with its vision to inspire the world and create the future. Samsung aims to achieve this through innovative, reliable products and services, a responsible approach to business, global citizenship, and collaboration with partners and customers.

Within a short period, Samsung has provided significant competition to Apple by continuously introducing new and advanced technology. Samsung products are accessible to people all around the world. Kim, Miyoung (27 November 2013) posited that Samsung's marketing is heavily focused on projecting an image of being “innovative and ahead of the pack.”

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Samsung Electronics represents a testament to rapid innovation and global reach in technology. Founded in 1969, Samsung has transcended its origins in South Korea to become a dominant player in the electronics market worldwide. Its strategic focus on research and development (R&D), remarkable marketing strategies, and ability to adapt to the ever-changing market trends and consumer preferences have helped it to carve a niche that allows it to compete effectively against industry giants like Apple.

Samsung's core strategy involves substantial investments in R&D, which is evidenced by its announcement in 2005 of a five-year, 47 trillion won R&D investment plan aimed at enhancing its competitive edge (PR Newswire, 2005). This level of commitment to innovation is pivotal in maintaining its leadership in sectors like memory chips and display technologies. By diversifying its product offerings and optimizing its supply chain processes, Samsung has managed to set itself apart from its competitors and become a household name across the globe.

One of the defining aspects of Samsung's marketing strategy is its ability to create a powerful brand image. According to Kim, Miyoung (27 November 2013), Samsung invests significantly in marketing to project itself as an innovative company. This focus not only entices customers but also helps cultivate brand loyalty among existing consumers. Samsung’s endeavors in marketing have effectively positioned it as a leader in innovation, drawing in customers that relish the latest technological advancements.

The rivalry between Samsung and Apple has not only influenced market dynamics but has also sparked a slew of legal battles that underscore the competitive nature of the technology market. The "Blue War," as it is often referred to, has seen both companies compete fiercely across various product segments. This rivalry, characterized by high-profile lawsuits and cross-claims over technology patents, highlights the intricate and often contentious relationship between these two giants (Harlan, 2012). As a case study of competition in business, their rivalry exemplifies the lengths to which companies will go to protect their market share and intellectual properties.

As a user of Samsung products for over five years, I have firsthand experience of the blend of quality and innovation that the company embodies. Samsung’s offerings have made technology accessible to a wider audience, allowing users to experience cutting-edge technology without exorbitant costs. Their focus on producing reliable products has been instrumental in creating a loyal customer base globally.

Sustainability and corporate responsibility are crucial in Samsung’s operational ethos. The company actively seeks to align its business strategies with global sustainable development goals, engaging in practices that not only enhance its brand image but also contribute positively to societal welfare (Lewin, 2015). Samsung’s commitment to ethical practices and environmental stewardship sets an industry standard, showcasing the importance of corporate social responsibility in today’s market environment.

As organizations strive to navigate the challenges posed by globalization and technological disruption, Samsung stands out as a role model for agility and resilience. They have cultivated a culture of innovation that encourages risk-taking and creativity among employees. This environment fosters continuous improvement and motivates teams to explore novel solutions to complex challenges (Burton, 1998).

In conclusion, Samsung's phenomenal rise in the electronics market reflects its innovative spirit and commitment to excellence. The company's strategic investments in R&D, robust marketing strategies, and focus on sustainability illustrate its determination to remain a leader in the technology space. With its ongoing commitment to inspire the world and create the future through responsible business practices and technology, Samsung continues to shape the landscape of electronics globally.

References

• Burton, J. (1998, May 15). Koreans set their sights high with $30bn asset sale: Analysts say chaebol are demanding too much from foreign investors. Financial Times.
• Chico Harlan (9 December 2012). "In South Korea, the Republic of Samsung". The Washington Post.
• Kim, Miyoung (27 November 2013). "Samsung's marketing splurge doesn't always bring bang-for-buck". Reuters.
• Lewin, J. (2015). Samsung heir backs Samsung engineering with $250m. FT.com.
• Samsung telecommunications America, LLC; Samsung mobile honored with three CTIA wireless 2010 emerging technology awards. (2010, Apr 05). Biotech Business Week.
• Samsung companies announce five-year, 47 trillion won R&D investment plan. (2005, Nov 08). PR Newswire.