Company Report.docx - Florida State University MAR 3023...

Florida State University
MAR 3023
Basic Marketing Concepts
Professor Fong
Samsung Electronics Company Report by:
Sheherbano Hasan 200448433
Arsh Husain 200373044
Ricardo Jimenez 200469977
Angel Wang 200469812
June 18, 2019
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Company Report
Table of Contents
Contents
Introduction ................................................................................................................................................. 3
Company Overview .................................................................................................................................. 3
Company History and Milestones ................................................................................................................ 4
1969-1970: Early beginnings and inception ............................................................................................ 4
1980s: Entering the telecommunications industry and the death of Lee Byung-chul. .............................. 4
1990s: Introduction to the mobile phone market. .................................................................................... 5
2000s: Galaxy line leads Samsung to number 1 ...................................................................................... 5
Company Products and Markets .................................................................................................................. 6
Mobile ..................................................................................................................................................... 7
Television Sets ......................................................................................................................................... 7
Home Appliances ..................................................................................................................................... 8
Market ..................................................................................................................................................... 8
Company Strategy ....................................................................................................................................... 9
Skimming Prices ....................................................................................................................................... 9
Competitive Pricing .................................................................................................................................. 9
Placing in Samsung Marketing Strategy ................................................................................................... 9
Promotion in the 4Ps of Samsung .......................................................................................................... 10
Conclusion ................................................................................................................................................. 11
Bibliography .............................................................................................................................................. 11
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Company Report
Introduction
The company report on Samsung Electronics contains a general overview of the
company’s current business operations, as well as a historical overview of the company. The
current operations include the description of the company’s products and markets, as well as
strategies including price skimming, competitive pricing, distribution, and promotion.
The historical overview will contain the major historical milestones in the company’s
evolution, focusing on those which had particularly significant marketing implications for
Samsung Electronics. These include new product lines such as the black and white TV, strategic
alliances like those the company had made with several electronic focused divisions, and charges
in distribution strategies which made their company more desired by consumer markets.
Company Overview
The name Samsung Electronics in English means "tristar electronics”, it is a South
Korean multinational electronics company based in Suwon, South Korea. Due to some circular
ownership, it is the flagship company of the Samsung chaebol, accounting for 70% of the group's
revenue in 2012. It comprises of numerous affiliated businesses, most of them united under the
Samsung brand, and is the largest South Korean business conglomerate. The company
specializes in the production of a wide variety of consumer and industry electronics, including
appliances, digital media devices, semiconductors, memory chips, and integrated systems.
Samsung was originally founded as a grocery trading store on March 1, 1938, by Lee
Byung-Chull. He started his business in Taegu, Korea, trading noodles and other goods produced
in and around the city and exporting them to China and its provinces. However, over the next
three decades, the group diversified into other significant areas such as food processing, textiles,
insurance, securities, and retail. Samsung was focused on the redevelopment of Korea after the
war with a central focus on industrialization. With that goal in mind, the business first entered the
electronics industry in 1969 with several electronics-focused divisions, the initial electronics
divisions included Samsung Electronics Devices, Samsung Electro-Mechanics, Samsung
Corning, and Samsung Semiconductor & Telecommunications. Their first actual electronic
products were black-and-white televisions. During the 1970s the company began to export home