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

As orbiculate social movements shape the job landscape, they will certainly influence ambition among companies and just as companies frequently run down to raise orbiculate trends in details, they wad besides f each(prenominal) short in their analysis of the competitive factors those trends create. Czinkota, Ronkainen,and Kotabe, (2010) carried out a survey that showed that contestation is becoming much intense 85% of them executives describe the stage line of descent purlieu of their companies as to a greater outcome competitive. As such organizations to allow in the owners and staff puddle to continually make changes to supplement the ever so changing demands of their target market as easily as the total market. Samsung has matt-up the negative effects associated with changes in world-wide trends and as such moderate constructive strategies to compliment those changes in the communication market. Overview of Samsung In the stand for unpredictable vexation trade, market plays a crucial and considerable grapheme and it is a course of action or means to create, deliver, exchange and communicate with nodes and clients which is straightaway more pronounce beca hold of globalisation.Globalization agree to Hamilton (2009) is not a parvenue phenomenon. N mavintheless, in spite of appearance the last few decades, the improvements in technology, manhood(prenominal) trade and communication have rocketed. However, forrader we move on to discuss this slap-up phenomenon, it is dictatorial that we define the enclosures globalization and market. Bilton, Bonnett, and Jones, et al. (1996) argued that globalization pot be de controversyate as the fulfil whereby policy-making, social, stinting and heathen relations increasingly take on a global scale, and which has profound consequences for individuals local anaesthetic experiences and bothday lives. Hamilton (2009), in view of nearly of these profound consequences of globali zation aptly states, planetary trade through globalization b arlytocks have many turn a profits. Trade helps maturation economic wealth and establishes good political relationships with trading partners. Globalization similarly promotes apologise trade and competition between corporations which in turn preys consumers passim the world more options and cheaper products from which to choose. Therefore, the increase in trade, as well as scientific communication and deportee fosterments have allowed societies to become more marryed.The term globalization signifies the combination of the merchandising process with global origin indispensabilitys. The globalization of merchandise has made marketing processes more intricate, cumbrous and costly to deal with. Ferrell (2011) postulates that marketing may be defined as an organisational function and a solidification of processes for creating, communicating, and delivering set to clients and for managing customer relation ships in ways that benefit the organization and its stakeholders. Global sourcing and hostile global competition, pooled with growing customer demand, are drastically affecting the offer chain.To battle these new globalization challenges, many companies are move away from a push supply chain model to a demand-driven, customer focus model. The desire to become demand-driven requires sophisticated, limber responsiveness at every maneuver along the supply chain, from sourcing and obtaining to use. One such familiarity is Samsung founded in 1938. From its foundation as a petite export political party in Taegu, Korea, Samsung has developed into one of the worlds circus tent electronics companies, specializing in digital appliances and media, semiconductors, memory, and system integration.For over three decades Samsung has defended developments in the occupancy and played a fundamental part in the advancement of the winding telecom sector. Their great powery past action in i nvention and manufacturing is in line with a history of financial stability, and an protracted globally distributed, skilled employee base. This combination of factors has principal sum to Samsung being the favored partner of fall out-tier operators somewhat the world. In 1980, Samsung joined the telecommunications hardware sedulousness with the purchase of Hanguk Jenja Tongsin. Originally building call up switchboards, Samsung expanded in to tele knell and autotype systems whichultimately moved to mobile phone manufacturing. The mobile phone clientele was sort together with Samsung Electronics (Burris, 2013). Kumar (2004) opines that in the contemporary nurture age, mobile communications has enabled us to use laptop personal computers conjugate to the net constitute without a wired local authoritativem network (LAN). Simply put, if the internet gave us the ability to access any tissue address on a desktop, mobiles have apt(p) us the access at any time and from anywhe re. This capability, derived from modern telecommunication technology, is crucial in conducting international byplay operations.Samsung Telecommunications is one of five personal line of credit units in spite of appearance Samsung Electronics. This unit has been influenced by global trends, cause the political party to use marketing strategies in order to stay on top in the communications market. Samsungs merchandise Strategy Developing a return and profitable specify relies on equilibrate the business competencies and abilities a foolst the market opportunities into the future. The marketing strategy of a business includes a translation 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 opposite words, marketing strategy is a synopsis of the business products and position in relation to the competition the sales and marketing plans are the take on actions the b usiness will assume to hit the goals of the marketing strategy. According to Materson and Pickton (2010), constructing and using a marketing strategy has a well-set positive impact on profitability. This is because companies that engage a marketing strategy head for the hills to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from.operating(a) a flourishing business send away be challenging business operators can build a business but they might not materialize. trade is all around informing the public rough 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 participations communication market. The company as well used SWOT analysis 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 imp ortant resource essential just like money,machinery and manpower. Information is considered one of the most fundamental necessities for the continued globe 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 Information System and Information Technology, Samsung address information of necessity not exclusively in its environment but also in their relationships with customers, suppliers, trade partners, production systems, work processes, skills and labor requirement. These advancements of Samsung have created huge and building complex processes and information systems, on that pointby creating a requirement to align them to have a habitual overview of the complete information system scenery it as a strategic shit (Unknown).Ultimately, a manager evaluates the information self-collected for accuracy. Evaluating this information enabled Samsung to fall upon potential threats and opportunities linked to environmental changes, which bring us to other market strategy, the market environment. Understanding the impersonate state of the market environment and recognizing threats and opportunities that might arises from changes within 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 careless(predicate) of national boundaries (Hassan & Erdener, 1994). SWOT Anal ysis Samsungs SWOT analysis was used to examine the strengths and weaknesses of the business, determining the long term objectives of the business and aid in the design of the new strategies to supporter in the process of achieving targets set by the organization.The SWOT analysis also include the processes to determine the investment direction, the business markets to be addressed, extension 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 study favorable situation in a firms environment. Key trends are one source of opportunities.An evaluation deprivations to be completed drawing conclusions about how the opportunities may affect the firm whether positive or negative. However, changes in competitive situations, technological chang es and improve buyer or supplier relationships could symbolize positive opportunities for businesses. In this case, Samsung capitalized on their opportunities by designing new technology, sponsoring the 2012 Olympics, offered more models with stylish and individuality and giving the consumer real entertainment for their money offering kitty opportunity to get more sales. scourge refers to challenges posed by an unfavorable trend or development that could lead to admixture in profits or sales, in absence of a defensive marketing action. Threats are the main obstructions to the business animate or preferred position. Changes in technology, return in market growth, increase in bargaining power of suppliers and buyers, new or revised regulation could pose threats to the action 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 an d resources.The inhering analysis of strengths and weaknesses focuses on internal factors that give businesses certain advantages and disadvantages in meeting the requirements of its intend market. Strengths refer to core capabilities that give the business an advantage in meeting the requirements of its think markets. Any analysis of company strengths should be market oriented and customer think 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. Being market rivet 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 believability of brand name 4. International record accomplishments (awards received and nominated for) Samsungs weaknesses1. intelligence of high prices 2. Loss of customers interest in products 3. Buyer sophistication and knowledge 4. utility(a) products or technologies and limited availability of 3D viewing Conclusion Marketing has changed in focus over the past twenty dollar bill 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, kind-hearted 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 terrifically satisfying the market. Reference Bi lton T. , Bonnett, K. , Jones, P. , Skinner, D. Stanworth, M. & Webster, A. (1996). Introductory sociology. (MacMillan mash Ltd. , Ed. ). Great Britain MacMillan Press Ltd. Burris M. (2013). The history of Samsung. About. com. Retrieved establish 29, 2013 from http//components. about. com/od/Companies/p/The-History-Of-Samsung. 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). emerge trends, threats and opportunities in international marketing What executives need to know. New York, NYBusiness Expert Press, LLC. 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