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New Microsoft Office Word Document - Samsung The TOP Brand...

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Samsung - The TOP Brand in the World According to the global brand scoreboard of 2004 from Interbrand, Samsung, the Korean based electronics brand, has boosted its profile and being listed as 21st valuable brands in the world. Its brand value surged by 16% to 12.5 billion US dollars compared to the figure in 2003 which is 10.8 billion US dollar. (Simon, 2004) It becomes the world’s leading brand in electronics and digital industry. This achievement is closely related to its sponsorship strategies. Samsung associate its name to the “TOP” plan, which is “The Olympic Partner” plan. It is a plan which leads Samsung to be the top brand in the world. However, there are many other programs to support Samsung’s sponsorship strategy. Without these strategies the “TOP” plan will not have such effectiveness and efficiency. Samsung’s philosophy is “devote our human resources and technology to create superior products and services, thereby contributing to a better global society”. (www.samsung.com) Under this philosophy Samsung has adopted a sport-based strategy in building its brand. The multinational consumer electronics firm acknowledges the fundamental role played by sport and by the Olympic Games as a promoter of its brand. Vice president of corporate communication at Samsung, Il-Hyung Chang, rationalizes the important role of sport sponsorship by stating "sports sponsorship is a strategy that fits well within our operations at Samsung….it’s an integral part of our company’s philosophy". Philip and David, 2003 Entering into the “TOP” plan propels Samsung’s sponsorship to a new era. It has an opportunity to act on the same stage with the world top brand such as Coca Cola, IBM, and Visa, which greatly enhanced its brand image. The company’s active and established role in the heart of the Olympic Movement has contributed to its brand value surge in recent years. Samsung’s involvement with the Olympic movement began as a local sponsor for the Seoul 1988 Olympic Games. Then it became the TOP sponsor in the wireless telecommunications equipment category for the Nagano 1998 Olympic Winter Games, Sydney 2000 Olympic Games, Salt Lake 2002 Olympic Winter Games and Athens 2004 Olympic Games. This status as a global partner in the wireless telecommunications equipment category will be continuing in the Torino 2006 Olympic Winter Games and Beijing 2008 Olympic Games. Samsung have agreed to pay the huge amount for corporate sponsorship because they recognize the vital importance of sports marketing on their bottom line. The TOP plan helped Samsung increase its brand awareness and enhance market position considerably. Compared to the results of the survey held before the Sydney Olympic Games, the amount of consumers that became aware that Samsung Electronics was one of the 9 sponsors of the Games
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approximately tripled. Unaided awareness of Samsung’s “Olympic sponsorship” was 6.0%, it placed 2nd after Coca Cola. (www.samsung.com)
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