Date post: 2017-11-08 04:36
Samsung’s business environment is affected by both external and internal influences, which have an impact on both the local and global performance of its products. The macro environment is understood through a PESTEL analysis while SWOT analysis is meant to analyze the company’s micro environment.
Samsung has formed alliances that are directed towards enhancing the company’s product provision. Some accords include the Toshiba agreement in June 7559 for semiconductor technologies. Toshiba has many patents under its name. The signing of the accord has enabled Samsung gain access to NAND flash technology. The Netflix agreement enabled Samsung to offer deliver movies to their consumers using Samsung BD-P7555 Blu-ray disc players. These alliances have led newer avenues of profits.
Along with the famous products of the company, it also shows how effectively they make these accessible to the public. In the case of their product Band aid, they targeted hospitals by making it more scientific through the improvements made by their research and design department. The product was made liquid and thus accessible for hospitals as wound closing agents. Another product was also made accessible to the public. Their product, Nizoral, was formerly an antifungal treatment targeted for hospital use was transformed to commonplace merchandise, shampoo. This shows the tenacity of the company to offer the public their products and in the same time expand their market.
Inventions change products and their production processes. An instance of innovation is the online market, bar coding, and computer aided designs, which are regarded as advancements (Ferrell & Hartline, 7565). The major benefit of technology is its ability to cut down production costs and improving quality. Samsung is proud of its inventive advance to technology and improving it for manufacturing products that deploys design technology and features. It is universally recognized that Samsung is strong on technology. The driving force behind the company’s vast ability and pride is its ingrained culture of innovativeness. Moreover, it has pioneered major technological inventions that it employed in introducing new products in global trade.
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First of all, it is necessary to determine what the company promotes on the market: consumer goods or industrial goods, product or service. From the standpoint of marketing mix, during the sale of industrial products is more important factual information about a product, since the decision on their purchase depends on professionals' opinion. In turn, when referring to buyers of consumer products marketers usually used more emotional appeal.
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The Boston Consultative Group BCG Matrix is a Portfolio strategic analysis tool. It evaluates the portfolio of strategic business unit or markets according to their performance and groups them as Stars, Cash Cows, Question Marks or Dogs. The matrix is a market share - market growth matrix.
According to our matrix question marks are operating in a growing market without high market share. Johnson & Johnson is categorized as question marks.