Swot Analysis of Samsung
Strengths: In the marketing, strengths means is internal capabilities that may help a company reach its objectives. Samsung is technologically very advanced; it has heavy assets of technology. It is known for its technologically advanced products. Samsung crushed new product concepts in five months. It is strong corporate brand and known for its quality products and advanced technology use. It attracts customers by offering new and innovative design through understanding the customers that which type of designs are suitable to customers and what they want or asked about.
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It heavily invest in technology, product design and human resource, because for the success of every organization human resource plays a major role, with human resource no product can be made that’s why Samsung gives more important to the human resource. Weaknesses: Weaknesses mean is internal limitations that may interfere with a company’s ability to achieve its objectives. Although Samsung focuses innovation but it is not proactive to introducing new products, it waits to attack the competitors.
It also lacks in product differentiation. Samsung caters mass market instead of niche market so for this purpose it sets low prices of products and low price products seem as low quality products, so Samsung products perceive as low quality as compared to competitors’ products. Most of the Samsung products are not user friendly which is a hurdle for Samsung to make it market leader. Opportunities: Opportunities mean is external factors that the company may be able to exploit to its advantage.
Through make itself distinctive from competitors, it can gain more market share. By providing distinguish services it can increase its customer base. Another opportunity is product variation, by introducing unique products and existing products with variety; it can attract its target market and can get more market share. As the demand for the cell phone is increasing as compared to other electronic market, Samsung has the great chance to introduce user friendly mobile phones at affordable price.
It would help to beat customers and also to lead market share. Threats: Threats mean is current and emerging external factors that may challenge the company’s performance. Telecommunication industry is growing day by day so the no competitors also increasing so it is difficult for Samsung to establish in that industry, it is more behind in this industry as compared to other electronic items. Samsung advertisement is not excessive while the competitors advertise their products excessively which can take away the existing customers of Samsung.