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Discusss about the Strategic Marketing is concept of marketing opportunity.

The role of strategic marketing in Samsung Electronics Corporation

Strategic Marketing is a concept that focusses on the identification of marketing opportunities for the purpose of corporate growth and marketing planning. It’s a must-have for organizations that are willing to gain a competitive edge in the areas of operation. For a company such as Samsung Electronics Corporation, strategic marketing is paramount due to the company’s capital investments employed in producing its products (Li, and Qian, 2018, pp, 3). Besides, the products designed by technological industries have a reduced lifecycle since after a little duration the products are imitated by other organizations. Therefore, continuous innovation is essential for organizations to remain in business.

Strategic marketing is essential in transforming an organization’s plans into realities. It aims at gaining maximum benefits from the present marketing plan since it ensures the implementation of the mission of a company (Li, and Qian, 2018, pp, 5). Besides, strategic marketing allows organizations to uncover various marketing opportunities and plans and implement them in the organization’s operations. In Samsung Electronics Corporation, strategic marketing has the following roles;

  •    Assisting in the competitive determination of product prices in regards to features included in the electronic gadgets, geographical locations and lastly costs involved in the production.
  •    Promotion of the demand for products and services particularly through brand awareness through the use of different promotional procedures (Uslay, and Yeniyurt, 2018, pp. 2). For example, Samsung has been a sponsor of the Olympic games since the year 1988. Also, Samsung focusses on expanding its product category from laptops, smartphones to tablets, computing equipment, and wireless communication so as to promote its commitment to the Olympic movement.
  •    Development of new products that meet customer needs (Rangnekar, 2018, p. 1). For example, the designing of phones that provide users with the flexibility of usage. Besides, Samsung has incorporated an android system that allows the users to be able to download and install various applications on their phones in relation to their preferences.

In the business environment today, strategic marketing processes are crucial in meeting various strategic marketing tasks. The processes enable an organization to think about its present condition and how it may want to be in the future (Chernev, 2018, Pg. 45). Strategic marketing processes refer to an approach whereby a company allocates its marketing mix resources so as to be able to reach its target markets. It also assists in achieving company objectives and goals.

The strategic marketing process incorporates three main phases and the include; planning, implementation and control. With the three phases, business firms are able to be active players in the marketplace. Over the years, Samsung’s past and present performance has demonstrated colossal growth in its profitability, market share, performance, brand loyalty, market segmentation and product diversification (Rangnekar, 2018, pg. 12). For all this to be possible, it is Samsung’s strategic marketing processes that have allowed it to reach the top in the industry. The company has competently conducted its market research hence being able to identify customer needs and wants effectively thereby allowing the company to design and develop innovative products for its customers.

Besides, the marketing processes have allowed Samsung to determine its future objectives and how to take over the marketplace in the future (Srivastava, 2018, pg., 357) The marketing processes in Samsung are dependent on the following factors;

  •    Innovation and creativity: For example, Samsung is adopting an open innovation model so as to ensure they improve their external innovation strengths though a program known as the Samsung Accelerator program (Elmansy, 2018). The product is essential since it provides product support in building excellent software and services.
  •    In-depth market research: Samsung has developed research centers around the world to aid it with coming up with new technologies as well as understanding the constant changing and diverse needs of customers.
  •    Development of customer value:The research conducted in the Samsung’s research centers allow the company to identify new future growth areas so as to be able create value for its customers which in turn improves their lives (Samsung Research, 2018).
  •    Differential advantage: Samsung is able to create electronic chips for their devices. In fact, the chips are considered the best since Apple has contracted Samsung to provide the chips for their iPhone series (Grizzly marketing, 2015).
  •    Foresight on technology. Samsung is committed on ensuring they develop innovative products that have less impact on the environment (Samsung Newsroom, 2017). Therefore, the company has developed ecofriendly design processes to push its efforts.

Processes involved in strategic marketing in Samsung Electronics Corporation

In business, strategic marketing and corporate strategy are two terms that are interlinked with each other although they carry a different meaning. Corporate strategy refers to the direction that an organization may take with the goal of achieving long-term success. In addition, corporate strategy acts as a guide in the development of the scope and purpose of the organization (Nag & Chen, 2007, pg. 944). On the other hand, strategic marketing is connected to the corporate strategy since it helps in ensuring the effectiveness of the corporate strategy. It also acts as a catalyst for an organization to develop a sound corporate strategy. It may be challenging for managers to design an effective corporate strategy in cases where strategic marketing is not incorporated in the corporate strategy (Nisen, 2013).

In Samsung Corporation, strategic marketing plays a significant role in the development of corporate strategy. This two are closely linked to each other and have promoted the growth and development of the organization. An evaluation on the link between strategic marketing and corporate strategy can include the following;

  •    The effectiveness of meeting objectives and goals in the company:For example, Samsung is smart in learning from its competitors (Nisen, 2013). The company is attuned to what its competitors are doing and this strategy has allowed the company push success and kill failure. In addition, the company is also known for its high budget marketing spending. In 2016, the company spent about $9.9 billion worldwide in advertising. However, this year, the amount may increase due to its new brands such as the galaxy 9 phones, signature OLED Televisions and other products.
  •    Growth in the brand loyalty and image of the organization: Samsung’s marketing mix is regarded a powerful tool that has allowed the company reach its unbelievable heights. It has helped the brand become a symbol of reliability and quality for its customers hence being able to achieve long-term success (White, 2018).
  •    Easy identification of consumer needs. Samsung has received a lot of competition from Apple due to the ecosystem Apple provides. However, Samsung has designed a different program to ensure they remain relevant and also meet customer needs. For example, Samsung has structured its products into smart products thus ensuring they are eco-friendly.  
  •    Development of creative products that promote the satisfaction of consumer expectations hence making their lives more comfortable (Doole and Lowe, 2005, pg. 67. For example, with the introduction of new innovative products such as the Samsung latest flagship phones including Samsung S9 and note, Signature OLED Tv’s, refrigerator and washing machines, Samsung has improved the lives of its customers.
  •    The capability of the company to grow its sales hence becoming the largest seller of phones in different markets. Samsung has been enjoying high sales in their fast quarter after the introduction of their Samsung S9 and S9 plus flagship phones. However, the company expects the sales to decrease therefore, the company is planning to expand its experiential stores, promote its promotional programs, invest in its Bixby voice assistant and also work closer partners so as to ensure it provides seamless experience for its customers (Tibken, 2018).

Strategic marketing planning plays a significant responsibility in the of an organization. However, strategic planning firms apply various models in relation to their requirements so as to develop a strategic marketing plan. Samsung uses the following models in designing its strategic marketing plan;

  1.    Porters five force model.

In developing a strategic marketing plan, Samsung considers the porters five force model a crucial model since it assists the company to identify its competitors. The forces include;

  •    Threat of new entrants.

Over the years, Samsung corporation has been one of the leading technological companies globally and has also been crucial player in the tech market. Therefore, the threat of new entrants has been low since the company still commands a significant share of the market (Pratap, 2017). Besides, its sophisticated Research and Development has enabled it to create innovative products that meet user needs hence remaining competitive.

  •    Threat of substitutes

Easy access to technology has allowed many companies to develop substitute products. This has profoundly affected other brands worldwide. For instance, Samsung has been highly affected since when the price of the substitute products is compared with their prices, consumers will prefer the products with lower prices but look identical to the Samsung’s products (Pratap, 2017).

  •    Bargaining power of suppliers.

Samsung as a company acts as a supplier to other electronic companies such as Apple. The company manufactures its components hence it’s not affected by the bargaining power of other suppliers in the industry.

  •    Bargaining power of customers.

Evaluation of the links between Strategic Marketing and Corporate Strategy in Samsung Electronics Corporation

Due to the increased access to information, customers have become competitive in their bargaining since various products are within their reach. Hence, switching between different brands in cases that they feel they are paying more has been a challenge for Samsung (Pratap, 2017). The company is not an exception to this fact since the bargaining power for customers is high.

  •    Intensity of competition.

In the marketplace, the electronics industry is very competitive since every company is competing to claim the top place in the marketplace. Therefore, Samsung faces stiff competition from Apple, Sony, and other companies (Pratap, 2017).

  1.    PESTLE Analysis.

This model is also useful in understanding the external environment of an organization and its of great assistance in developing Samsung’s strategic marketing plan. Different elements incorporated include;

Issues regarding the copywriting of patents of products in the smartphone industry have been extensive since firms have chosen to protect their intellectual properties through claiming infringement on patents aggressively (Pratap, 2018). Therefore, Samsung should therefore employ its resources to make it much harder for their rivals occupy a more significant market share. Besides, since Samsung is a global brand, it has developed positive relations with different nations so as to ensure the effectiveness of its operations.

The United States, United Kingdom, and other European countries are still recovering from the recession which resulted into lower consumer spending, increased unemployment rates and lower disposable incomes of customers. This has negatively impacted the smartphone industry. However, customer buying power in developing nations in the Asia Pacific like India and China is increasing hence promoting an increase in Samsung’s sales (Pratap, 2018).

Improvement in the lifestyles of people globally has prompted the increase in the usage of the smartphone industry. Besides, if we take a look at demographics, between the ages of 13 to 17, there has been an increase in the usage of smartphones. Thus, has been an added advantage for Samsung since sales have gone high.

This is one of the critical factors that has made an impact on the smartphone industry. As a result, competition has grown tremendously in this field. However, due to Samsung’s creative and innovative products, it is still in the commanding position in the market (Pratap, 2018).

Samsung still basis its manufacturing areas in the Asia Pacific where the environment is conducive for manufacture (Pratap, 2018). However, the company should be ready of any future intense weather patterns and resource unavailability in the regions it operates.

Assessment of the value of models used currently in strategic marketing planning in Samsung Corporation

This is a strategic planning method that categorizes both external and internal factors that affect the running of an organization.

Strengths

· Brand reputation.

· Ownership of market share.

· More investments in the Research & Development department.

· Customer loyalty.

· Quality assurance in the production process.

· Formidable position against competitors (Bhasin, 2018).

Opportunities

· Increased demand for innovative products.

· Increased disposable income.

· Increased market demand in developing nations.

· Good international relations globally.

Weakness

· Patent litigation with Apple corporation.

· Price tactics whereby low price is interpreted as low quality.

· Fierce competitors in the market.

· Massive distribution channels costs for products.

· Lack of a focused niche.

Threats

· Great reputation for other competitors.

· Political instability in South Korea.

· Technological transformation in the tech-industry (Bhasin, 2018).

· Aging population.

In conclusion, the value of the models applied in the strategic marketing of Samsung Corporation can be based on the following factors;

  •    The models have allowed Samsung to be able to grab opportunities in the technological industry.
  •    The models have also allowed Samsung increase its product base hence developing innovative products for its customers.
  •    The models have allowed Samsung to create better decisions while entering new markets thereby ensuring success.

Every organization desire to achieve a unique strategic position, therefore being able to build marketing tactics is essential since it plays a significant role in marketing (West, Ford, and Ibrahim, 2015, pg. 54). Marketing tactics assists organizations to focus on the present resources hence enlarging opportunities for a company to maximize market share, sales and profits. This thereby creates a unique strategic position for the organization.

Over the years, Samsung Corporation has been able to acquire a distinct strategic position in its field of operation (Song and Lee, 2014, pg. 69). The principal reason for this is because of its innovative marketing tactics. These tactics have helped Samsung be able to become a pioneer company in the market space. The link between marketing tactics and strategic positioning in Samsung can be classified into;

  •    Creation of value to customers: Samsung, the largest seller of smartphones, is primarily focused on driving its growth through innovative and differentiated products. This marketing tactic allows the company meet the diverse needs of customer while at the same time offering value to them through the products.  For example, the Samsung note 9 has been packaged with high end specifications that meet the needs of the tech-savvy individuals.
  •    Meeting the needs of customers effectively. To meet the needs of customers, a company needs to understand the customer’s needs first. Therefore, Samsung has built relationships directly with its customers to ensure they understand the customers better (Janrain, 2018). Besides, Samsung research centers are continuously researching on future innovations that meet the diverse needs of customers.
  •    Building of effective associations with consumers:This has been possible since Samsung is building relationships with its customers. For example, the company has made huge strides with social media. In addition, the company’s innovative products and its specified target market allows the company build customer loyalty which helps the company maintain good relations with customers.
  •    Creation of demand for Samsung products. Samsung’s diversification of products has allowed the company build demand for its products. Consumer preferences are dependent on specifications due to the diverse psychographics of individuals (Yeung, 2017). Through the Galaxy flagship phones, Samsung has been able to develop demand by meeting the preferences of different consumers.
  •    Setting of eye-catching prices for products.Samsung has been able to drive massive sales due to its pricing strategies. For example, the company applies the skimming price strategy when they introduce their products in the market but as the products get older, the prices go down. In addition, the company uses the competitive pricing strategy based on what their competitors are charging. For example, Samsung Galaxy S9 which is retailing lower than the iPhone X, has become the phone of choice since it meets the high-end specifications and still is cheaper that its counterpart, the iPhone X.
  •    Provision of benefits to customers with its products. For example, with the introduction of Samsung’s refrigerator that has an accessible screen, children and people using wheelchairs will be able to interact with the Refrigerator’s family hub feature. This tactic helps to ensure the brand attract more people.

Relationship marketing refers to the development and enhancement of relations with both stakeholders and consumers so as to meet organizational objectives (Rofizar, 2010). It is an example of the marketing techniques employed by firms in maintaining excellent customer relationships. This type of marketing strives to ensure customers are retained so as to not switch to competitor products when making their purchase decisions.

Samsung Corporation is one of the firms at the forefront of developing and embedding excellent relationship marketing win its operations hence being able to gain more customers and achieve huge sales of mobile phones globally (Payne and Frow, 2013, pg. 54). The following examples portray the merits of relationship marketing in Samsung’s strategic marketing;

  •    By providing low-priced and high-quality smartphones, Samsung has developed a long-term relationship with its customers which has resulted into more loyalty. In this way, the company has been able to create value towards relationship marketing.
  •    Due to the increased loyalty of Samsung products in Vietnam, the customers, who are highly selective about their purchases, have allowed the company to gain a competitive edge over other new smartphone brands such as the Bphone (Tomiyama, 2018).
  •    Samsung has also been able to grow its market share in Vietnam over the years hence being able to occupy about a half of the smartphone market by supporting other companies to produce smartphones by providing parts needed (Tomiyama, 2018). For example, Samsung occupies about 46.6% of Vietnam’s market, while the other remaining brands share about 56.5%.
  •    Samsung’s expertise and resources have been of great help to new technological startups in Vietnam especially phone manufacturers. Though this relationship, the company has acquired new areas for investments that would lead to future profits.
  •    Due to the continued customer loyalty to the Samsung brand, the company has been able to increase its product base in different fields hence being able to meet the diverse needs of Vietnamese customers.

The mobile phone industry acts as a competitive business industry since various organizations are in search of innovative techniques for marketing products and to stay active in the Vietnam market. For example, for Samsung Corporation to compete effectively in the marketplace, embedding appropriate marketing tools will be crucial in acquiring new opportunities (Ringel, and Skiera, 2018, pg. 56). The following are marketing techniques useful in ascertaining growth opportunities for Samsung;

In competitive environments, gaining and retaining customers will require the use of target marketing techniques so as to promote increased sales. Targeting should be aligned in a way that;

  •    Pricing should be more attractive and easily affordable. For example, in Vietnam, new phone brands such as the Bphone are targeting low income earning customers, therefore, Samsung should also provide low budget phones to meet the demand.
  •    Products should have some measurable criterion such as accessibility, flexibility, and durability. Vietnamese people want phones with both appealing features and low prices, therefore Samsung should ensure they maintain and also upgrade their phones.
  •    It should be identifiable by customers. In Vietnam, Samsung is the largest phone brand since it occupies about 46.6% of the phone market (Tomiyama, 2018). The company should push its brand more so as to be attractive and identifiable by the customers.
  •    The targeting should also focus on quality standards in all marketing levels. All Samsung products are all about quality and that’s why the company has been able to occupy a large market share in Vietnam. However, Samsung will need to so more due to the surging competition from other brands.

In Samsung Corporation, positioning is also important since it aids in developing a distinct image for the company hence being able to attract more customers (Ardito, Petruzzelli, Panniello, and Garavelli, 2018, pg. 134). Positioning in Samsung can follow the below criteria;

Price: all prices should be competitive and affordable hence being able to grab all segments of customers. Local phone brands in Vietnam have already occupied about 8% of the market due to their affordability (Pathak, 2017). Samsung should take the opportunity and provide low-budget and high-quality phones so to ensure it keeps up with the market.   

Promotion: the company should follow an innovative way such that customers are easily attracted to the stores. Samsung is building more capacity to ensure they meet the demand of consumer as well as develop innovate product for the future. Besides, in Vietnam, the company has designed initiatives for promoting Vietnam tech students (Samsung Newsroom, 2017).

Product: In Vietnam, people are very conscious on what they buy. This is because of the desire for low cost phones that have great features. Samsung is on fore front of ensuring their products meet the demand of the market.

Placement: Samsung has heavily invested in Vietnam since it’s an opportune environment for their operations. This has allowed products to be easily accessible by the customer, since the company’s distribution of the products is exclusive, selective and intensive.

Marketing segmentation also helps Samsung grow its opportunities. In order for the company to acquire a diverse and extensive markets, it is vital for the company to incorporate segmentation in its product development before introducing the products to the market.

Segmentation includes four distinct groups. They include;

  •    Geographic segmentation.

By choosing Vietnam as the opportune environment for production, Samsung has increased its customer base and sales. This is because of the low cost of labor and easy access to other markets. In addition, Samsung has also grown its product base in the country.

  •    Demographic segmentation.

Since most of the population in Vietnam are low income earners, the company is in the fore front of targeting them with low-budget phones hence being able to occupy a large market share in the company.

  •    Psychological segmentation.

Since the Vietnam people are conscious about phone features, Samsung has taken this opportunity to provide both low-budget and high-budget phones in order to meet the needs of the diverse customers.

  •    Behavioral segmentation.

Behavioral segmentation refers to the segmentation of consumers in terms of lifestyles, purchase behavior attitudes and loyalty (Backaler, J., 2018, pg. 12). In Vietnam, Samsung has divided its products to meet the diverse needs of its customer. With more focus on low-cost budget phones, the company still ensures it meets the high-end needs of its customers.

In addition, other techniques that may be implemented include;

  •    SWOT analysis.
  •    Identification of critical success factors.

Strategic options serve a critical role in the survival and growth of the organization. This is because multiple strategic options are vital in ensuring a company remains as an active player in the market since the environments are changing rapidly. Strategic options also ensure organizations survive for long periods in relation to a particular situation present. Therefore, it is crucial for the company to scheme for the different strategic options since they allow a company to compete in any circumstance.

The following include strategic options for the marketing plan of Samsung Corporation;

  1.    Porters Generic Strategies.

Samsung should incorporate the porter’s generic strategy in order to draw out an effective marketing plan. It includes;

  •    Cost leadership.

In Vietnam, Samsung should continuously employ cost leadership by producing price sensitive products whose prices are relatively low so as to meet the needs of all customers (Liew, 2018, pg. 153). This will allow both international and local brands such as Apple and Bphone.

  •    Differentiation.

In Vietnam, Samsung should produce differentiated products in order to be able to meet the demand. In addition, the customers are price sensitive and therefore to attract them, the company will need to develop phones having great features and are also affordable.

  •    Focus.

In Vietnam, Samsung needs not only to focus on production but also to make the brand a home brand. For example, in South Korea, Samsung has occupied about 90% of the phone’s markets share. Therefore, the company should focus on making Vietnam a Samsung hub since the company has made significant investments in the country.  

  1.    Core competencies.

Keeping core competencies assists a company to develop a unique marketing plan, and Samsung can apply the option to gain an edge from its rival’s firms. Core competencies can provide Samsung with the access to a wider variety of markets while reducing the possibility of being imitated by their competitors (GLIMSTEDT, H., 2018, pg. 65). With the significant investment Samsung has made in Vietnam through the development of manufacturing industries and other investments, the company will be able to emulate the following core competencies;

  •    Capability to create and promote excellent labels in the market.
  •    Provision of excellent user experience on Samsung products.
  •    Employing a distinct R&D in the company.
  •    Setting of competitive prices on its products.

For any company, marketing goals are critical since they help an organization accomplish marketing activities effectively. Besides, when setting the objectives, one should ensure they are SMART (Nisen, 2013). The strategic objectives for Samsung in the Vietnam mobile phone market can be highlighted as;

  •    Understanding and satisfying customer needs and wants effectively: this a core objective since lack of understanding the customer demands ensures failure. The Vietnam market is flooded with low-budget phones from local companies such as the Bphone (Tibken, 2015), therefore, Samsung should focus on meeting the exact requirements of the Vietnamese customers.
  •    Developing new products that assist the company increase the market share.In Vietnam, Samsung has occupied about 50% of the mobile phone market share (Tomiyama, 2018). However, this is not stable due to other Chinese brands such as Oppo that are trying to occupy the Vietnam market. The company should defeat the competition by producing new products that meet customer needs and requirements.
  •    Creation of value to customers by the provision of innovative and superior products and services. Through the new investments in developing the mega Samsung factories in Vietnam, the company is focusing on developing new and innovative products that compete effectively in the market.
  •    Maintaining the goal of being a leading company in the market space. Over the years, Samsung has maintained to be the largest brand in Vietnam (Tomiyama, 2018)However, the company should push more innovation so as to occupy about 80% or more of the Vietnam market as in South Korea where the company has occupied about 90% of the market share.
  •    Diversification of products thereby improving the profitability of the organization.This is another core objective for Samsung in Vietnam. The introduction of new phone brands in the Vietnam market is swaying the loyalty of Samsung’s customers. Therefore, it is time that the company invests more in developing diverse products so that the needs of the customers can be met.

In Samsung Corporation, changes in the external environmental factors can be given as;

  1.    Political factors.

Political factors can be of significant impact on the marketing strategies of Samsung. For example, the challenging political landscape in Korea due to the arresting of Samsung’s vice president due to corruption, may pose a challenge on the execution of long-term business objectives or strategies such investment decisions (Jin, 2017).

  1.    Technology.

Technological advancement has assisted Samsung in developing various products with advanced features hence overtaking other brands. Samsung is planning to invest about $20 billion in emerging technologies such as artificial intelligence, 5G capabilities and auto components (Makena, 2018). This will bring about new jobs and also firmly establish the company in the market against competitors.

  1.    Economic development changes.

In Vietnam, Samsung has invested billions of dollars in developing new manufacturing industries and high-tech complexes for developing their products. In 2016, the company was awarded an investment certificate for high-scale research and development (Vietnam Investment Review, 2017). This has led to more jobs and boosting of the Vietnamese economy.

  1.    Customer Expectations.

Samsung’s Galaxy flagships phones have one of the most successful phones. With the new Samsung S9, S9 plus and Note 9 phones, Samsung has been able to meet customer expectations extensively. The phones are regarded to be the best among other brands such as Apple, Huawei and Sony.

  1.    Socio and Cultural Factors.

Since customer needs and preferences are changing with time, Samsung is also evolving to ensure it meets these needs. With the company’s research centers, Samsung is able to redefine future needs of customers. For example, with the incorporation of Artificial Intelligence, the phones are becoming so effective such that one can do anything using the phone. This helps meet the changing lifestyle of individuals.

  1.    Legal.

Since 2011, Samsung and Apple have been in court over the issue of patents. In 2018, the issue still pushed and Samsung had to pay about $539 million to compensate Apple (The Straits Times, 2018). This has negatively affected the company since the issue has created a wrong public perception. Besides, their products have suffered from the same.

In Samsung Corporation, a SWOT analysis can be effective in identifying the current strengths and weaknesses in the marketing strategy of the company. By carrying out the analysis the company is able to decide which marketing strategy will bring about the best result for the company. It also helps minimize threats and weaknesses.

Brand recognition: Samsung’s brand has grown over the years hence it has helped the company make huge sales. For example, people buy their product just because of the brand name and the perception that it is associated with quality.

Location of the business: Samsung has highly invested in manufacturing industries among countries such as Vietnam due to the low cost of labor. This has ensured the company success since its manufacturing capabilities have grown over time hence allowing the company to make more shipments.

Marketing expertise: Samsung is a hue spender in marketing. Its effective marketing experts have allowed the company expand tremendously into new markets. In addition, the brands value has grown extensively. The company’s flagship phones such as the Galaxy S9 and Note 9 have been successful due to the rigorous marketing by Samsung.

Damage of brand due to safety issues: Samsung galaxy S7 affected the sales and marketing of Samsung’s products. This is because, after the incident of the phones battery exploding, Samsung’s products were considered dangerous hence resulting to drop in sales.

Non-distinguishable features in Samsung products: Since new products are flooding the market, Samsung is finding it hard to keep up since the product have the same features as their own phones are their cost is much little. In Vietnam, Samsung is fighting to hold its market share since the competition is growing extensively.

Low profit margin: The company is facing a reduction in sales due to new brands that are being introduced. For example, Xiaomi’s new cost-effective phones are capturing the market very fast hence lowering the sales of Samsung products. Its introduction of the Pocophone has really brought stiff competition on Samsung’s galaxy flagship phones. This is because of the --combination of cost effectiveness and high-end features

Due to emerging trends, Samsung will need to respond to the trends so as to be able to remain active in the industry. Samsung can apply the following responses on the emerging issues on home appliances;

  •    Artificial Intelligence.

Due to the emergence of new technologies such as Artificial Intelligence, Samsung is on the fore front of ensuring they promote such technology in their operations. In September 7th 2018, Samsung opened up a robotics research in New York known as the AI center (Samsung Newsroom, 2018).  I believe this will be a game changer for Samsung since the company will be able to expand its capabilities and stand as a leader in the IT industry.   

  •    5G Technology.

The 5G technology is the latest iteration of cellular technology. This is a direction that Samsung has chosen to follow keenly due to the massive investments the company is planning on the same. This investment will create new opportunities such as autonomous driving (The Straits Times, 2018). In my opinion, as Samsung adopts this technology early in advance, the company will ensure it occupies a large market share which translates to more dominance. Other companies will have to depend on Samsung for assistance.

  •    Biopharmaceutical upgrade.

This is also another key trend that Samsung has its eyes on. With the new technologies, the company can be able to improve its biopharmaceutical wing which will result to better services and products (Tozer, 2018). I believe this area has a lot of competition, and extra investments in Research and Development will be of assistance so as to ensure the company stands out. For example, the company will be able to compete effectively with companies such as Novartis pharmaceuticals.

  •    Self driving cars.

Self-driving cars is a trend that many auto-mobile companies are planning to improve. For instance, the government of South Korea is working hand in hand with Samsung to ensure the company is able to provide the service by year 2020. In my opinion, I believe the investment will be worthwhile since the company will diverse into a new niche. The company is bound to succeed due to its expertise and support from the government.

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