There are several numbers of companies offering similar services to their customers and it is because of this competition they are finding ways to beat their competitors. This paper will discuss Samsung ElectronicsCompany’s set strategies to achieve competitive advantage.
Samsung ElectronicsCompany (SEC)
Samsung ElectronicsCompany which is an electronic manufacturing company has several competitors such as Apple, Nokia, Alcatel, Motorola, among others. Due to these competitors, it has set strategies to beat the competition in order to have the greatest number of customers, high revenue, develop compliable technological systems, and even have a famous name worldwide. According to a study carried out by SEC has several strategies to compete with competitors such as; it selected declining electronics like TVs, microwaves, fridges and gave the vendors bare minimum profiles thus ending up gaining trust with the manufacturers inorder to get the required technologies. These manufacturers marketed SEC very well. Also SEC supplied their commodities at a low cost thus slowly building competition with others who supplied their commodities at higher price than SEC. SEC also changed measurement performance of their employees by appraising and motivating them who had to work harder than before. In addition, SEC do not ignore their customers especially when their competitors come up with a new product, they innovate what they have to suit need of their customers.
Another strategy is that SEC spends its money for revenue more than its competitor Apple. SEC also has different kind of businesses such as chip and display manufacturing unlike Apple Company. It also invests a lot in advertisement where they reach customers worldwide unlike its competitors who are not seen on TV advertisements. In addition, SEC has a website for advertisement purposes which helps SEC reach customers in every part of world. Through Internet, customers’ questions on SEC products are answered thus enabling them gain customers’ trust since all the information they need they get. Also, SEC website help them get qualified employees through career webpage which help them get the best who can serve their customers best.
Kim, Robert. “Samsung’s Competitive Innovation and Strategic Intent forGlobal Expansion.” Problems and Perspectives in Management (2007): 131-137.