Samsung is no longer the company that it used to be, it is a company that has put in a lot effort and money for changing its reputation. Today, Samsung is striving and growing into one of the most successful companies ever. It has an extensive product line that caters to many different people. It no longer operates on low profits;it’s striving on the highest.Thus, it is no surprise that many of us would be interested in the SWOT Analysis of Samsung. Here in this article we do a complete SWOT Analysis of Samsung to show you what Samsung has really become. This article is very useful to all those who are conducting a research on Samsung or may be thinking of starting their own business. The SWOT Analysis of Samsung will tell you all you need to know.However, before we move on to the SWOT Analysis of Samsung we need to understand what a SWOT analysis really is. Only then will we stated the actual SWOT Analysis of Samsung.ASWOT analysis is type of strategic planning tool, which every company and most competitors conduct to understand how a particular company is doing.
The SWOT analysis covers four dimensions namely; the strengths, weakness, opportunities and threats. By going through a SWOT analysis, you become aware of the most important dimensions that have an impact on the operations of the company. Once a SWOT analysis has been jolted you can come with relevant strategies in order to succeed in the competitive environment.A good SWOT analysis can help the company and competitors place themselves in the market wisely. Therefore, here we look at the SWOT Analysis of Samsung to give you an idea of how the company is operating in the world.Strengths• Samsung has a wide product range, which allows them to grab ample market share from various markets. This allows Samsung to not only earn a high return but it also allows them to diversify their risk and failure. • According to many magazines, Samsung holds a significant portion of the market share in nearly all its products. • Samsung is a reputed name and many people are familiar with it around the world.
• Samsung has won many awards on its high quality products. • Samsung has the ability and resources to use the latest technology and offer new and exciting features frequently. • Samsung has won many awards due to its ability to make innovative, sleek and slim products • Samsung has set up many production plants in low cost locations, thus they save on cost of production significantly. • Samsung recently has attracted ample positive press, thus its reputation continues to grow and has a positive impact on the operations of the company.Weakness• Samsung never introduces a new design on its own, it always waits to attack it’s competitors. Thus, it missed the first mover advantages. • Samsung does not charge high price for its products, therefore often people relate the low price to begin a supplier of low quality products. General perception supports that the higher the price, the higher the quality of products.
• Many Samsung products are not user friendly, therefore consumer often hesitate to switch to Samsung products even if the price and quality is exceptional. • Samsung does not focus on a specific niche; it offers its products to the mass market only. • Samsung does not create its own software therefore it often relies on other sources to complete the products. • Samsung faces immense competition from new companies and online companies. • High set up and operation cost for such a company.Opportunities• Samsung should make an active effort to offer unique products to customers, in order to grab more market share. • Samsung could start creating software’s for their hardware devices and reduce outsourcing. • Samsung could launch sub brands to the company, with new and improved strategies. • Samsung could launch in countries to tap the needs of consumers.
• Samsung could open more stores to serve more customers. • Samsung could make an effort to launch creative products first, rather than after its competitors. • Samsung could increase its product variation in its products. • Samsung should participate in product development and attract more customers. It should also consider participating in various events to attract attention. • Samsung could offer additional services to retain existing customers and attract new ones. • Increase in the need for mobile phones, Samsung could exploit this need well.Threats• Samsung has linked product lines, which means that if one product line fails due to its own reasons other product lines will also suffer. • Samsung is very scattered; it controls and operates different products while its competitors use their resources and effort on one segment only. Diversification takes a lot of effort and attention. • Samsung has set up production plants in low cost areas, which are subject to ample political and economic instability.
These instabilities can have an impact overall company it the crisis gets unmanageable. • Samsung is facing threats from many other low cost companies. • Various companies have realized the importance of advertising, therefore Samsung will be subject to a lot more competition as advertising creates and draws attention of consumers. • Countries all over the world are experiencing a high cost due to high inflation rates in most locations. • Many government legislations are now active against the innovative technology due to health and mental concerns.The above section clearly reveals the SWOT Analysis of Samsung. By going through the SWOT Analysis of Samsung you can understand and further evaluate the company’s performance to your own advantages. However, the above SWOT Analysis of Samsung is limited to certain significant points only. Therefore, when evaluating a company it is best to search online for more SWOT Analysis of Samsung so that you have all the information you need to assess the company.|