SAMSUNG MANAGEMENT DECISION MAKING

INTERNATIONAL MANAGEMENT DECISION MAKING

STUDENT ID: 1246209

MOD001098

WORD COUNT: 4000

Contents

Introduction:..........................................................................................................................................2

1.1: Market Development......................................................................................................................2

1.2: Market Share of Samsung...............................................................................................................4

1.3: Market Competitiveness:................................................................................................................4

2.0: Identify and Assess Price/non-price strategies................................................................................6

3.1: Performance Analysis of Samsung in Past five years:....................................................................7

4: Entry Strategy of Samsung in International Market.........................................................................11

Intermediary entry modes.....................................................................................11

Joint ventures........................................................................................................12

Management contracts..........................................................................................12Conclusion:..........................................................................................................................................13

References:..........................................................................................................................................15

Introduction

Samsung, the Korean company whose name means “three stars” in local language,

was founded in 1938 by Chairman Byung Chull Lee, in Taegu, Korea, as a small

trade ex- port business company for dealing mainly with fish, vegetables and fruits.

For approximately thirty years, Samsung’s focus was in the export and insurance

businesses when, in 1969, the company established Samsung-Sanyo Electronics

which was renamed six years later as Samsung Electro-Mechanics. In March 1977,

the company merged with Samsung Electronics (Samsung’s History. Samsung) and

a new focus added to the Sam- sung group. Samsung is a very large corporation

acting through many companies in a number of different industries as well as

business areas, which, in turn, develop many different products. The so far

successful smartphone business is part of one of the seven business units of

Samsung Electronics Co., Ltd., the Mobile Communications business unit (Samsung,

2013). Employing approximately 164,600 people in 179 offices across 61 countries,

Samsung Electronics has a vision to become a top five global brand (Data Monitor,

2013)

The study will analyse Samsung management decision making on international

competition and presence of especially in Smartphone Market. The report will

examine the domestic and international competitive position of Samsung, its Market

share, its competitive position and market development by Samsung in the global

market. The performance of Samsung in last five years and the final part of the

report will analyse the strategies employed by the organization to develop in the

international market.

1.1: Market Development

Some years back, the mobile phone industry was led by Nokia and Motorola. They

had been in this position for quite some time. But things drastically changed, the

story of Samsung mobile in the mobile phone industry was one almost low profile

company with distinct products and low cost product portfolio.

High-tech gadgets (e.g. Mobile phones, computers, navigation systems) have

become a huge and growing market. The mobile-phone market still continues to

grow with an introduction of smart phones from three billion in 2007, 4.6 billion in

2009, and more than five billion in 2011 (Eadicicco, 2013). Based on Apple’s 2009

annual report, it sold approximately 7.9 billion dollars of iPods and 6.5 billion dollars

of iPhones out of total sales of 36 billion dollars, (Cusumano, 2010). Likewise, the

use of smart-phones has increased across all demographics and annual sales of

smart-phones exceeded 40 million units worldwide in 2009 (Eadicicco, 2013). Many

gadgets have become an important part of consumers’ self-definition as they help

consumers communicate (PC and Phone), navigate (GPS), experience (cameras),

and express themselves (web-based applications).

In this industry, of fierce competition, the management has been forced to come up

with very creative technological innovation and winning marketing strategies. When

iPhone was launched by Apple Inc. in 2007, they created the Smartphone market for

the average consumers, before that the product was targeting only business users.

From then Apples' iPhone and Android phones, which are offered by Samsung, HTC

and Nokia have tried their best in competing in this ever changing high-tech market

and so far have qualified to be the big players in the Smartphone industry. In a fast

growing industry, time is everything and every company wants to possess most

innovative technology and products before its competitors.

During the last decade, Samsung was constantly innovating and responding to

market demands with technologically advanced products. Thirteen of the company’s

product lines were global leaders in market share, including CDMA mobile phones.

In 2002, Samsung launched the colour mobile phone and by 2004 it has sold more

than twenty million mobile phones in the US, market that, by 2008, was already

dominated by the company. Moreover, it was also in 2008 that Samsung launched

the famous OMNIA phone and named Yoon-Woo Lee as vice chairman and CEO of

Samsung Electronics. In the year that follows – 2009, Samsung announced that the

company would be developing its future smartphones based on its own software

open platform called Bada which turned into reality in 2010 when WAVE, the first

Bada smartphone was released to the market. Between 2009 and 2010, Samsung

launched various new models such as the STAR phone, the „Giorgio Armani’

smartphone, Corby full touch phone and the OMNIA II, to name a few. It was also in

2010 that Samsung launched the OMNIA 7, a smartphone based on Microsoft’s

Windows 7 platform. (Samsung’s History. Samsung, 2013).

Samsung’s flagship smartphone, the Google-Android based Galaxy S, was launched

in June 2010 and ever since its product line has been very successful in praising

consumers and, consequentially, in boosting sales. The phone, which is considered

a blockbuster globally, has sold more than five million units in a three to four month’s

timeframe (Why Was the Samsung… Daily 2News, 2010; Samsung: 1 million

Galaxy… CNN Money 2010), bringing Samsung to a wave of success. It was the

Galaxy S the main contributor to Samsung’s success during 3Q2011 which led the

company to the number one position of the smartphones’ rank list. The Galaxy S II

was released to the market in August 2011 and was expected to sell very well and

thus significantly contribute to the company’s 4Q2011 performance results.

1.2: Market Share of Samsung

Samsung is currently the top Smartphone manufacturer in Europe. At the end of

2012 Samsung had 32.3% share of the market according to the figures from

Comscore (n.d). Samsung overtook Nokia in April 2012 to claim the top spot, a

position it had maintained for long. Apple came second with 20.5% market share,

followed by Nokia at 16.3% market share (Samsung dominates European

Smartphone market, 2013). Being the top selling Smartphone brand in Europe,

Samsung has captured 45% share of the European Smartphone market according to

data from Kantar World panel Comtech (n.d). As the worldwide Smartphone sales

increased by 46.9% in 2012 and accounted for 39.6% of total mobile sales,

according to Gartner research (n.d), Samsung and iPhone dominated the

Smartphone market. Samsung mobile phone led with 98 million units in Q3,

commanding 32.5% of the global Smartphone market (Apple and Samsung lead

global Smartphone race, 2012) Samsung Galaxy Smartphone's use Google's

operating system Android. They introduced its first Windows phone in 2012. They

offer great variety of products that target a wide range of customer segments in the

market. Example is the, Galaxy Music, which are for music lovers. It includes

features like easy access to music and surrounds sound. For the people who value

innovative technology, they are offered Galaxy S3, which has also a mini version for

those who find it too big. (Samsung, Mobile devices, 2013).

1.3: Market Competitiveness:

As a consequence of the mobile telecommunications industry revolution we have

witnessed a shift of its focus from hardware to a more software driven industry. Yet

there is still huge demand for simple mobile phones; however the increasing

demand for more sophisticated products and services is notable. There is greater

competition in the smartphone market as Samsung has number of competitors in

the market affecting the competitive position and market share of Samsung.

This phenomenon is attributed to the introduction of smartphones into the

marketplace which started in 1993, with IBM Simon, the first attempt from a joint

venture between IBM and Bell-South to introduce a commercially viable

smartphone in US market (The mobile phone: a history… PC World, 2009; cf.

PC Magazine).

Although Nokia has launched its first smartphone in 1996, the Nokia 9000

communicator, it was only in 2000 that the first device in fact marketed as a

„smartphone’ came to the market, the touch screen Ericsson R380. In the

following years, many other manufacturers also started to develop and

commercialize their smartphones.

Without any doubt, Nokia was considered the most influential and largest mobile

phones’ manufacturer in the world (Agar 2003, 113; Yoffie – Kim 2011). For

approximately 14 years, Nokia has reigned at the top as the world’s largest

smartphone maker, having lost its leader position to both Apple and Samsung

during the second, third and fourth quarters of 2011, according to published

results (Apple is now the world’s… Redmond Pie, 2011), which are illustrated in

figure 1 below for the 2Q2011 when Apple took the crown from Nokia, followed by

Samsung, for the first time.

Figure 1: Smartphones market statistics 2Q 2011, year-on-year trend (Apple now the

world’s largest… Engadget 2011).

Apple was crowned as the king of the smartphone industry in 2Q2011, only four

years after the original iPhone was released. What a feat! Although Apple has

beaten Nokia in terms of profits and revenue in January-March 2011 already

(Apple phone revenues… Reuters, 2011), it was in the April-June period when

Apple overtook Nokia in terms of total volume, i.e. smartphone units shipped

(Apple ends Nokia’s… Red- mond Pie, 2011). The success wave that brought

Apple to the leadership meant trouble to companies like Nokia which considered the

mobile phone industry as being its realm (Moritz 2009, 341).

Nevertheless, Samsung was quite close to Apple, occupying the second position

in the industry rank during 2Q2011 (as seen in figure 1) and showing a

magnificent Nevertheless, Samsung was quite close to Apple, occupying the

second position in the industry rank during 2Q2011 (as seen in figure 1) and

showing a magnificent growth of 380.6% from 2Q10 to 2Q11, whereas Apple’s

growth was 141.7% in the same period (Apple is now the world’s… Redmond Pie,

2011).

Furthermore and already illustrating the current and though competitive dynamics

within the mobile smartphones market, Samsung was finally able to surpass Apple

as far as sales volume already in 3Q2011, becoming the world’s leader in

smartphones’ sales according to the quarter’s published results which showed a

tremendous shift be- tween the two top players (Samsung surges past Apple…

Global Post 2011), leaving the second position for Apple. Having sold an

extraordinary 27.8 million smartphones globally during 3Q2011, Samsung

conquered 23.8% of the market share while Apple sold 17.1 million iPhones for a

14.6% of the smartphone market. (Samsung sold… KBS World 2011), as showed

in table 2 below.

Table 2: Global smartphone market 3Q 2011

Global smartphone market

3Q2011Company Shipments

(millions)

Market

shareSamsung 27.8 23.8%Apple 17.1 14.6%Nokia 16.8 14.4%Others 55.3 47.3%

Source: Strategy Analytics

2.0: Identify and Assess Price/non-price strategies

Pricing strategies determine the price which is the amount for what the product is to

be paid. (Borden, 1964). Hutchison (2009) referred price as what customers will

exchange for product. Among the four components, price is determined as an

important variable since it is one of the key determinants of a product value. Price is

thus one of the evaluative criteria used by consumers, as are the cost incurred in

buying and owning or using the product (McDonald, 2013). He also noted that the

price is very difficult aspect of the marketing mix to manage. McDonald (2013) urges

that to maintain the integrity of prices; the company should implement a sound pricing

strategy; this will support the company’s overall marketing strategy and profitability.

After manufacturing innovative and cost effective phones worldwide for a long time,

Samsung has been able to learn what is required to stay on top of its industry. It has

not allowed Apple Inc. to grow in markets like Asia and developing countries like India

due to its price policy. This is the results of manufacturing wide range of products with

different price range.

Smartphone's use Google's operating system Android. They introduced its first

Windows phone in 2012. They offer great variety of products that target a wide range

of customer segments in the market. Example is the, Galaxy Music, which are for

music lovers. It includes features like easy access to music and surrounds sound.

For the people who value innovative technology, they are offered Galaxy S3, which

has also a mini version for those who find it too big. (Samsung, Mobile devices,

2013) The prices for these Smartphones vary greatly to meet different consumers’

needs. Some time back, Samsung was struggling to catch up with big players like

iPhone in the Smartphone market.

Samsung is believed to provide products at reasonable prices to its consumers.

Samsung is focused in cost-cutting measures to maintain its price low. This helps in

combating the discount schemes of other brands. It might seem difficult to achieve

this ambitious target keeping in mind the pricing strategy of Samsung, But, Samsung

believes that it takes time to ensure the supremacy in the market share. Samsung

managed to get its brand perception right in its consumers mind as a brand that

offers best technology and gives its consumer value for their money, this resulted to

its market share going up. Samsung is aggressive in launching its new smartphone

devices with the latest technology at an economic cost globally. This is also evident

with the data collected on consumer perception to Samsung pricing strategy. The

price was rated good compared to its competitors. The review from the respondents

shows how effective the pricing strategy has been in the success of Samsung

smartphone in the smartphone market Samsung success can also be connected

with its aggressive marketing and advertising of its products to develop the attitude,

transmit information so that it gain response from the target market and create

awareness.

3.1: Performance Analysis of Samsung in Past five years:

Samsung's increasing focus on technology led to the creation of the company's two

research and development (R&D) institutes that helped expand its reach even further

into electronics, semiconductors, high polymer chemicals, genetic engineering,

optical telecommunications, aerospace, and new fields of technology innovation from

nanotechnology to advanced network architectures (Samsung history, 2013).” In

1996 Samsung established and funded the Samsung Art and Design Institute in

collaboration with Parsons the New School for Design in New York. Following that

lead, SEC has established design research institutes in the United States, the United

Kingdom, Italy, Japan, China, and India. Each year SEC sends 15 designers abroad

to prominent design schools for one to three years to learn cutting-edge trends. As a

result, SEC has won a panoply of design awards. Combining this design excellence

with its traditional technological competence has allowed the once low-cost imitator

to sustain a high-price strategy for its TVs and cell phones (Khanna, Song & Lee,

2011, p 147).

Figure 4.3. Average Spending per R&D personnel at Nokia, Samsung over time

(data for

Apple is not available), in Millions of dollar

Samsung a similar trend can be observed up to 2008 were Samsung also took a hit

in revenue (See Table A-4, Appendix) and then a corresponding decrease in R&D

spending occurred with two main differences. First, Samsung was already increasing

their R&D spending and surpassing Nokia before the introduction of the iPhone in

2007. Second, within 2 years they pushed the R&D spending up as the revenue

went up, to a record high R&D budget outspending for both Nokia and Apple by a

factor of 2 and steadily increasing their manpower. Although, on a separate pictures

for R&D spending and R&D personnel the difference between Samsung and Nokia

looks substantial, the R&D budget spend per R&D employee is fairly equal, Figure 3.

Figure 4. Marketing Expenses (Gartner, 2013)

Figure 5: Global Brand Value 2010-2013 Ref: (BRANDIRECTORY, 2013)

Samsung has established as an Electronics manufacturer and a Mobile phone

manufacturer. Samsung has instigated a huge marketing effort combined with the

release of new high-end models in order to establish itself as one of the top brands,

with the result of being the second highest value brand after Apple in 2012 (Gartner,

2013).

Figure 4.7. ROA 2002-2012

As compared to other competitors Samsung as can be seen by the previous figures,

never dropped out of the race and used its position and investments to slowly

counter iPhone and Apples benefits, releasing ever better models to come finally in

2012 to a minimum par if better in terms of technology.

Table 2 Financial, R&D, Marketing Numbers Samsung 2002-2012

Ref: (Nokia, 2013)(Apple, 2013)(Samsung, 2013)(Gartner, 2013)(Oanda, 2013)

Samsung is relying on the fact of having great support system within the Samsung

group and the ability creating internal logistical lines for components that the others

are similarly dependent on. If one looks at Table 2 they are adequately position as

doing production in house as wells as technological development.

4: Entry Strategy of Samsung in International Market

Samsung has adopted many different ways to enter foreign markets. There are two

different entries modes, foreign direct investment or so called equity mode and entry

without direct investment or non-equity mode (Rodriguez, Uhlenbruck, & Eden,

2005). Direct foreign investment is the type of foreign market entry where company

that is registered in one country invests in assets in other country. In that case

investor owns at least 10% of the asset or more and it has control over his foreign

assets. If company chooses to invest directly in one country than it has two options,

to invest in wholly own subsidiary or to invest in joint venture in cooperation with one

or more partners (Rodriguez, Uhlenbruck, & Eden, 2005). In the case of non-equity

mode where company choose to enter foreign market without direct foreign

investment, company has options to enter foreign market by exporting or licensing

where foreign employees are acquired as intermediates in the business operations

and transactions (Rodriguez, Uhlenbruck, & Eden, 2005). Direct and indirect foreign

market entries can be further classified into three groups, export mode, intermediate

mode and hierarchical mode. Export mode is the foreign market entry that provides

high flexibility, low risk and low control. An intermediate mode is the foreign market

entry that provides shared control and risk and split ownership. Hierarchical mode or

so called investment mode is the foreign market entry that provides high control, high

risk and low flexibility. Hierarchical mode represents direct foreign market entry and it

is identified as the foreign market entry with biggest risk where company as a foreign

investor have full ownership and control over its foreign investment (Hollensen,

2011).

Intermediary entry modes

Sometimes companies are unable to serve foreign markets from their domestic

market and therefore they start their operations in foreign markets with cooperation

with local partners. In that case company don’t have full ownership and control over

its foreign operations instead, ownership and control are shared between partners.

There are number of different arrangements or intermediate entry modes such as

licensing, franchising, management contracts, joint ventures, turnkey contracts,

technical know-how and contract manufacturing. These intermediary modes are

mostly used in the case when one company poses certain competitive advantage

and is not able to use that advantage because of some restraints, but is able to

transfer or sell that advantage to third party. Company usually makes long term

agreement with foreign partner, which results in transferring the knowledge and

know-how between companies in different countries (Hollensen, 2011). The most

encouraging motives for companies to start their production in foreign countries are,

low production cost because of the low labour cost. Production in foreign countries

can lower the transportation cost and companies that have established production in

foreign country have advantage of being close to their foreign customers.

Furthermore, some foreign customers prefer products that are produced in their

home country rather than products imported from other countries (Hollensen, 2011).

Joint ventures

Joint venture is partnership between two or more business partners (Buckley &

Casson, 1998). Prescott and Swartz (2010), describe joint venture as joint

undertaking established by two companies in which they share risk, responsibility,

profitability, control and management and where joint companies keep their

independence. According to them it is mostly common that joint ventures are

established when one partner buys 50 percent of the shares in existing company

(Prescott & Swartz, 2010). They also concluded that in some cases only one of the

partners is responsible for management of joint venture. In international business

joint ventures can be located in many different countries which only complicate this

cooperation. One of the main reasons for companies to take part in this partnership

is to gain certain knowledge that can be acquired only through cooperation with local

companies’ from foreign markets. Establishing the partnership with domestic

companies in their home markets can increase the speed of entry into these

markets. Local partners possess knowledge and experience in dealing with their

local governments, which reduce the political risk of the foreign market entry.

Furthermore, local partners possess knowledge of the local business environment,

have access to the specific market information and have developed local business

network. Partnership can speed up research and development and product

promotion in new markets and overall it can lower the costs of companies in new

market entries and reduce business restrictions and risks. Furthermore, joint venture

can be a good solution for entering those countries that have restriction of foreign

ownership (Chang & Rosenzweig, 2001).

Management contracts

A management contract is type of intermediary mode that Íslenska Gámafélagið can

use in its internationalization process. It represents the collaboration arrangement

where one company transfers its administrative know-how and personnel to assist

another company for a certain payment (Daniels, Radebaugh, & Sullivan, 2011).

These management contracts are usually arranged between three to five years and

are based on fixed payments or payments based on volume. One company can pay

for management assistance if it believes that another company can perform its

operation better. Foreign management contracts are used when foreign company

can perform better than the domestic company (Daniels, Radebaugh, & Sullivan,

2011). Main advantage of these contracts is that local company get the needed

assistance without foreign companies taking the control of the operations. In return

for the assistance company pays the certain payment. Samsung has adopted

strategy of Acquisition to aquire greater market share and competitive advantage in

different regions of the world.

Conclusion

For the conclusion of this research, Samsung is already seen as the current leader in

the smartphone market. This was due to its innovative products such as its flagship

Galaxy S4 and Note II, which was launched with a massive marketing spend of more

than $4 billion USD in 2012. This is four times Apple’s budget. As it focuses on being

an aspirational brand to its target market of young consumers, they are seeking for

this generation Y, marketing using very high-profile partnerships with celebrities like

Giorgio Armani and LeBron James. Samsung is actually having great response from

this target market as noted earlier in the response of the data analysis, the highest

number of respondents owning Samsung smartphones are between the ages of 26

years to 40 years who are known to be the generation Y. The Galaxy S4 is marketed

as a “life companion; that includes features like navigating without touching the

screen and the built in health monitoring. Samsung is literally evolving its brand, to

not just innovate but by making it live up to its mission on enhancing lives of its

consumers.

To finish up with the strategy analysis section, I have come to my conclusion that the

marketing strategy choices Samsung makes affects its positive outcome in the

smartphone market. As we have seen earlier in my research on Samsung’s

marketing mix, the company has chosen to use well the differentiation strategy

targeting a broad market segment. The product as a component mix is differentiated

well as it offers different innovative features and design quality compared to its

competitors. This can be also seen on the research findings as respondents mention

many times the availability of applications. This proves that Samsung customers feel

that they are offered innovative solutions. The S4 device being their flagship

smartphone possesses very innovative technology that cannot be found in their

rivals’ Apples iPhone 5. The price is quite high that differentiate it from the rest of

other smartphone products and positioning it in the high end costly smartphone like

iPhone. They also have a cheaper version to cater for middle class consumers.

According to the analysis and considering the marketing situation this strategy

choice of Samsung indeed boost its positive performance in the smartphone market.

Samsung use of segmentation strategy by targeting different market segments is

working well for them too. To back up this statement is how I analyzed their products

in the marketing mix and found out how they realize every need in the market and

offers products for different customer segments. They have positioned their products

well, and they have let their customers know they are offering something for

everyone. Samsung has mastered the idea of creating products that are suitable for

their chosen market segments, and positioning itself clearly so that customers are

aware they recognize their needs. We can see this by how they advertise their

products effectively in the market, by clearly communicating how ordinary people can

take advantage of the technology they are offering. Most smartphone companies do

not communicate the benefits clearly and in a way an ordinary person can

understand. Samsung communication strategy in its promotion component of

marketing mix shows exactly who they are targeting and what they are offering to the

targeted market.

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