SAMSUNG GROUP (South Korea) Type - Public (Korean) Founded - 1938 Founder(s) - Lee Byung-Chul Headquarters - Samsung Town, Seoul,South Korea Area served - Worldwide Key people – Lee Kun Hee(founder chairman and CEO) Industry - Conglomerate Revenue - US$ 173.4 billion (2008) Employees- 276,000 (2008)
HISTORY AND BACKGROUND Founded in 1938 - Exporter of dried fish, vegetables and fruits. 1950’s Economic stabilization - Korean war and Samsung business flourished - Grew 20 fold - Started with Sugar refinery 1960’s expansion of key industries - Entered Electronic and Chemical industry - 1963 established Samsung electronic Co.
The company started moving into businesses such as insurance, securities, and retail. early 1970s - Launched Radio and television station Samsung Group later formed several electronics-related divisions, such as - Samsung Electronics Devices Co. - Samsung Electro-Mechanics Co. - Samsung Corning Co. - Samsung Semiconductor & Telecommunications and grouped them together under Samsung Electronics Co., Ltd. in 1980s. - Its first product was a black-and-white television set. The 1990s saw Samsung rise as an international corporation. Samsung Electronics expanded production dramatically to become the world's largest manufacturer of DRAM chips, flash memory, optical storage drives and it aims to double sales and become the top manufacturer of 20 products globally by 2010.
SAMSUNG IS INVOVED IN Consumers Mobile phone Television Mp3 Cameras Computers Printers Home appliances
MARKETING AND ADVERTISING STRATEGY During 1970’s Cut a third of workforce Set firewalls to other Samsung divisions New Business propositions Diversifications Low end market High end market First companies to top $10billion in revenues from TV market alone Strong brand image
A big notion in their mind was “ You simply can’t survive without adapting to the fast changing internet era, and the solution is linking up with startups” Used the popularity of the Olympic Games in its advertising strategy to establish itself as a premium global brand. Followed a strategy of increasing its presence worldwide by establishing design centre, sales subsidiaries and production plants.
RECRUITMENT AND TRAINING Individual core competency Internationalization Technology Marketing Change Agent