Table of Contents
Beginning’s and Growth
Corporate Image, Personality & Perception
Object Based to Concept
Beginnings and Growth
Samsung is one of the biggest conglomerates in the world with businesses established in shipbuilding, contracting, and electronics. Global revenues in 2012 reached 30 Billion and Samsung was ranked as the 9th most valuable brand in the world for 2013. Samsung was not really recognized as an international powerhouse until the 1990s where before it was largely considered only a household name in Korea. Over years, Samsung has gone from a near-bankrupt company to a leading brand in chip and computing technology. In a decade, Samsung has taken their risk of investing in new memory-chip capacity and rode the gravy train to becoming a profitable electronics company, wiping out $10billion of debt during the process So what lead this transformation? Analyzing Samsung as a whole given how spread its roots are would be quiet enthralling however respecting the length of this essay we shall be looking at Samsung Electronics. While there is not one deciding factor or event that lead to Samsung's success, many would agree that their key decisions in terms of Brand extensions or marketing strategies to its efficiency in portraying its positive Corporate Image, their innovative adaptation to connect with their consumers need has lead them to be one of the biggest Corporate giants in the world. We take a look at several ways how Samsung reinvented itself and has established itself as the top Experience and Credence Brand it is today.
Brand Image, Personality and Perception
Samsung Electronics launched its first mobile phone in 1988, in the South Korean market. Samsung's mobile phone division struggled with poor quality and inferior products until the mid-1990s and with poor sales to show for an exit from the sector was a frequent topic of discussion within the company. It was then decided that Samsung needed to change strategy and that they would not have anything to do with low-end appliances but would represent sophisticated and innovative phones and other high-end appliances, because the continual sales of low-end products would tarnish their corporate image and they wanted to shrug off its image as a "budget brand" and to challenge Sony as the world's largest consumer electronics manufacturer. It was hoped in this way Samsung would gain an understanding of how products are made and give a technological lead sometime in the future. The company shelved the production of many under-selling product lines and instead pursued a process of designing and manufacturing components and investing in new technologies for other companies. In addition, Samsung outlined a 10-year plan In order to move their high-end appliances to the consumers which led to events like Samsung leaving Wal-Mart because of its incompatibility with the company image as an electronics power, and went to retail giants such as Best Buy and CompUSA, who were better fit for selling their products in America and setting up mass marketing campaigns with 54 different ad agencies and sponsoring the Sydney Olympic Games to get their brand out to the potential consumers. Hence it is clear that the Corporate Image Samsung is portraying is of a Leader of innovation in the field of technology, value for money and affordable luxury as opposed to a low budget follower it started out as. The success of Samsung’s efforts of portraying this image is in the fact that the Consumer Perception of the Brand mirrors what they are representing. Also having consistently figured since 1998 on the Forbes Top 100 companies to work for Samsung has portrayed an impeccable Corporate Personality by empowering its employees by providing them with great talent management programs to build confidence that they are a part of the future, advanced skills training, a transparent...
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