How Global Trends Influence the Strategies Used by Samsung in the Communications Market Essay

As planetary trends shape the contrast sector landscape, they will certainly influence competition among companies and just as companies frequently fail to examine global trends in details, they can also hail short in their abstract of the belligerent factors those trends create. Czinkota, Ronkainen,and Kotabe, (2010) carried out a curriculum vitae that showed that competition is becoming more intense 85% of them executives describe the furrow environment of their companies as more competitive. As much(prenominal) systems to include the owners and ply pee to continu altogethery make changes to supplement the ever changing demands of their manoeuvre foodstuff as well as the total market. Samsung has felt the ostracize effects associated with changes in global trends and as such have real strategies to compliment those changes in the communication market. Over belief of Samsung In the present unpredictable avocation trade, merchandising plays a fundamental and consi derable role and it is a category of action or means to create, deliver, exchange and communicate with guests and clients which is now more pronounce because of globalization.Globalization according to Hamilton (2009) is not a parvenu phenomenon. Nonetheless, inside the last few decades, the correctments in technology, international trade and communication have rocketed. However, sooner we move on to discuss this great phenomenon, it is imperative that we limit the terms globalization and merchandising. Bilton, Bonnett, and Jones, et al. (1996) argued that globalization can be defined as the passage whereby political, social, stinting and cultural relations increasingly take on a global scale, and which has profound consequences for individuals local experiences and everyday lives. Hamilton (2009), in view of some of these profound consequences of globalization aptly states, global trade through and through globalization can have m any benefits. Trade helps increase economic wealth and establishes good political relationships with trading partners. Globalization also promotes unaffixed trade and competition between corporations which in turn gives consumers throughout the realness more options and cheaper products from which to choose. Therefore, the increase in trade, as well as technical communication and transportation senescements have allowed societies to become more connected.The term globalization signifies the combination of the merchandise process with global melody requirements. The globalization of market has made marketing processes more intricate, unwieldy and costly to deal with. Ferrell (2011) postulates that marketing may be defined as an organizational function and a set of processes for creating, communicating, and delivering values to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Global sourcing and hostile global competition, pooled with growing customer demand, ar drastically affecting the supply chain.To battle these new globalization challenges, many companies are moving away from a push supply chain pretence to a demand-driven, customer counseling model. The desire to become demand-driven requires sophisticated, flexible reactivity at every point along the supply chain, from sourcing and obtaining to use. One such family is Samsung founded in 1938. From its foundation as a petite exportation companion in Taegu, Korea, Samsung has developed into one of the worlds wind electronics companies, specializing in digital appliances and media, semiconductors, memory, and system integration.For over three decades Samsung has defended developments in the concern and played a fundamental part in the advancement of the liquid telecom sector. Their powerful past performance in invention and manufacturing is in line with a history of financial stability, and an extensive globally distributed, versatile employee base. This combination of fac tors has poke out to Samsung being the favored partner of whirligig-tier operators around the world. In 1980, Samsung joined the tele communication theory hardware industry with the purchase of Hanguk Jenja Tongsin. Originally building recall switchboards, Samsung expanded in to telephone and fax systems whichultimately moved to energetic phone manufacturing. The mobile phone assembly line was grouped together with Samsung Electronics (Burris, 2013). Kumar (2004) opines that in the contemporary breeding age, mobile communications has enabled us to use laptop computer personal computers linked to the internet without a wired local welkin network (LAN). Simply put, if the internet gave us the ability to access any web address on a desktop, mobiles have given us the access at any time and from anywhere. This capability, derived from modern telecommunication technology, is life-or-death in conducting international business operations.Samsung Telecommunications is one of five bu siness units indoors Samsung Electronics. This unit has been influenced by global trends, ca employ the company to use marketing strategies in enact to stay on top in the communications market. Samsungs market Strategy Developing a clear and gainful dodging relies on balancing the business competencies and abilities against the market opportunities into the future. The marketing strategy of a business includes a definition of the business, a description of the products or services, an outline of the target market, and defines the business role in relationship to the competition.In other words, marketing strategy is a synopsis of the business products and put in relation to the competition the sales and marketing plans are the consider actions the business will assume to attain the goals of the marketing strategy. According to Materson and Pickton (2010), constructing and using a marketing strategy has a strong confirmative jar on profitability. This is because companies tha t utilize a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from.Operating a flourishing business can be challenging business operators can build a business but they might not materialize. Marketing is all close informing the public about the product or service the business offers, and influencing them to purchase or use it. Thus, Samsung zoomed in on strategies that will improve the companys communication market. The company also used cram compend in order to keep up with the global trends in the communication market. Like every other businesses, Samsung is very much conscious(predicate) that information is an important resource essential just like money,machinery and manpower. information is considered one of the most fundamental necessities for the continued existence of the organization. In the past, before the computer era, it was not easy for the businesses to gather, store, maintain, organize and distribute enormous volumes of information and data. Nowadays, managers are competent in getting contemporary information at the required time in a precise manner. Consequently, as a powerful business leader, Samsung accepted the fact and had given precedence to the process of information throughout the organization at every stage.To gain from its Managing learning System and Information Technology, Samsung addressed information needs not unaccompanied in its environment but also in their relationships with customers, suppliers, trade partners, achievement systems, work processes, skills and labor requirement. These advancements of Samsung have created huge and complex processes and information systems, thereby creating a requirement to align them to have a universal overview of the gross(a) information system setting it as a strategic scape (Unknown).Ultimately, a manager evaluates the information gathered for accuracy. Evaluating this informatio n enabled Samsung to constitute potentiality threats and opportunities linked to environmental changes, which bring us to another market strategy, the market environment. Understanding the present state of the market environment and recognizing threats and opportunities that might arises from changes at heart it helped Samsung to assess the performance of their present marketing efforts and develop future marketing strategies (Pride & Ferrell, 2012).This is so because the global marketing environment is becoming increasingly competitive to an extent that requires companies to target their products and services at markets regardless of national boundaries (Hassan & Erdener, 1994). work up Analysis Samsungs SWOT analysis was used to examine the strengths and weaknesses of the business, ascertain the long term objectives of the business and aid in the design of the new strategies to assist in the process of achieving targets set by the organization.The SWOT analysis also include t he processes to determine the investment direction, the business markets to be addressed, mention of the operations of the business and limitations faced by the business in order to undertake the business activities. In essence, Samsung used SWOT to help identify possible strategies by building on strengths, resolving weaknesses, exploiting opportunities and avoiding threats. An opportunity is a major favorable situation in a firms environment. Key trends are one source of opportunities.An evaluation needs to be completed drawing conclusions about how the opportunities may affect the firm whether positive or negative. However, changes in competitive situations, technological changes and improve buyer or supplier relationships could symbolize positive opportunities for businesses. In this case, Samsung capitalized on their opportunities by design new technology, sponsoring the 2012 Olympics, offered more models with stylish and individuality and giving the consumer real diversion for their money offering plenty opportunity to get more sales. affright refers to challenges obtaind by an unfavorable trend or development that could lead to deterioration in profits or sales, in absence of a defensive marketing action. Threats are the main obstructions to the business alive or preferred position. Changes in technology, decrease in market growth, increase in bargaining power of suppliers and buyers, new or revised regulation could pose threats to the achievement of businesses. From the information gathered and evaluated, Samsung recognized that there is new and existing competition, price volatility, economic recession, and extremely huge competition for customers and resources.The internal analysis of strengths and weaknesses focuses on internal factors that give businesses certain advantages and disadvantages in meeting the requirements of its think market. Strengths refer to core capabilities that give the business an advantage in meeting the requirements of its intended markets. Any analysis of company strengths should be market orientated and customer focused because strengths are only meaningful when they assist the business in meeting customer needs. Weaknesses refer to any limitations a company faces in developing or implementing a strategy.Weaknesses should also be examined from a customer perspective because customers often perceive weaknesses that a company cannot see. organism market focused when analyzing strengths and weaknesses does not mean that non-market oriented strengths and weaknesses should be forgotten. Rather, it suggests that all businesses should bind their strengths and weaknesses to customer requirements. Samsungs strengths 1. Strong international experiences 2. Strong global business network 3. Vast credibility of brand name 4. International documented accomplishments (awards received and nominated for) Samsungs weaknesses1. Perception of high prices 2. red of customers interest in products 3. Buyer sophisti cation and knowledge 4. Substitute products or technologies and limited availability of 3D viewing Conclusion Marketing has changed in focus over the past twenty years. Nowadays, marketing stresses value and customer relationships (Ferrell, 2011). However, it is imperative to note that marketing is parallel to other business functions such as production, research, management, human resources, and accounting. The fundamental function of marketing is to connect the company to its customers.As such it shapes the objectives of companies to include Samsung, through which it is able to delivery top of the line communications while superbly satisfying the market. Reference Bilton T. , Bonnett, K. , Jones, P. , Skinner, D. Stanworth, M. & Webster, A. (1996). preliminary sociology. (MacMillan Press Ltd. , Ed. ). Great Britain MacMillan Press Ltd. Burris M. (2013). The history of Samsung. About. com. Retrieved March 29, 2013 from http//components. about. com/od/Companies/p/The-History-Of-Sam sung. htm Collins, J. , & Porras, J.(1996). Building your companys vision. Harvard Business Review. Retrieved March 29, 2013 from http//www. tecker. com/wpcontent/uploads/2011/07/CollinsBuildingVisionSept96. pdf Czinkota M. , Ronkainen, I. , & Kotabe, M. (2010). Emerging trends, threats and opportunities in international marketing What executives need to know. New York, NYBusiness Expert Press, LLC. Ferrell, O. (2011). Marketing strategy (Hartline M. , Ed. ). Mason, Ohio South-Western Cengage Learning. Hamilton S. (2009). Globalization. Edina, Minnesota ABDO Publishing