The People Who I Look Up to
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The global environment is a healthy ground for various companies and institutions to place their business operations. It is a place where they are able to exercise their daily operations such as advertising, promoting, competing with their rivals in order to make maximum profits and to ensure they remain in business. The interaction between various companies makes the globe a better place for business undertakings.
The world today has become a business hub and home to many companies and multinational corporations all over the globe. This has become possible due to improvements in social infrastructure, communication as well as transportation facilities. People and goods have been able to move faster and on time, hence making the business sector to thrive well without many problems. The profits obtained from these businesses have enabled people to invest in companies and firms.
The company by the name Samsung Electronics is a global company that deals with electronic materials. It deals with items such as smart phones, computers, memory cards, cameras among other things. The company was established to meet people’s requirements in this century which is dominated by improved technology.
Samsung Electronics Company has its unique line of business in which it carries out its operations. The company has what we call Mobile Line of Business in which mobile route accounting simplifies a typical mobile application. It is also used in computer application to reduce the amount of paper usage during transactions with consumers. The other methods of Mobile Line of Business that the company uses are insurance schemes for their products, warranties, discounts, premiums and they also have varieties of products.
Samsung Electronics is a global company found in eight countries and has over a hundred countries which act as its distribution centers. Some of the countries where the company is situated are Korea, United States, Japan and Germany. It is in these countries that most production and testing of the products are done. The products are then transported to the distribution places where they are then prepared to go to the market for selling to the consumers.
All companies in the world are competing with other global entities for common products. Therefore Samsung Electronics has been able to deal with this situation through implementation of the four core values of doing business. They include product or service, place, price and promotion. The company’s products are electronics which have become people’s preference all over the world thanks to new technologies and innovations. The company has also identified various locations in the world where its products are found. Customers are engaged in finding individual locations where they would feel comfortable to acquire the products. The company through its qualified executive has come up with affordable prices of various products that it produces. The other important thing that the company has been able to do is carrying out intensive promotion about its products. This has been aimed at making sure the consumer is aware of the existing product.
Samsung Electronics Company being a global entity has had differences in various countries in implementing the four core values. This is brought about by the best environments of doing business which are better in some countries than others. Security is also another issue that determines the implementation of the four core values. The company would love to be in a secure place and also in the place where there are other businesses. The performance of the business in various places also determines the place, price as well as promotions to be carried out. The location of the company’s distribution centers are also determined by the prevailing economic forces in those countries. Security is also another important factor to be considered as it is sensitive in terms of business location and environments.
The four core values: product, place, price and promotion go hand in hand with other factors such as competition for market places, target market places, product strategies as well as distribution strategies. All these values enable the company to strategize on how it will carry out its activities all over the world. It is also able to get new business opportunities in as many countries as possible.
The company has also various marketing principles in its possession that enable it to compete with other companies in the world. One of these principles is research. These involve the managers of the company who carry out the market research. They go ahead and obtain a plan for the market research which enables them to know the major areas of concentration. The final thing they do about research is data collection which they use to get to know where they should take their products.
The company also considers the principle of consumer and marketing. This involves training within the company through which the staffs are trained on how to deal and manage the consumers since the company regards the consumers as the most important issue. There is also the consideration of the consumer buying behavior as well as targeting the markets of higher interests. The consumer feedback on products sold to them is taken very serious enabling the company to plan on how produce their products in future.
The other principle is that of product. The company has to come up with decisions on which products to produce. The company has to make important decisions on how to manage their products so as to keep the supply consistent with their demand (Fridson, et al, 2002).
Distribution is another very important principle which the company has to consider in order to be in contention in the world of business. The management makes distribution decisions which entails where, when and how to distribute the products. This may involve other processes such as retailing and wholesaling which are important in the distribution channel. There is also consideration of managing the movement of products from the point of production to the final consumer.
The company has also to come up with ways on how to carry out advertising and promotion. The company carries out these two processes through making promotion decisions, identifying types of promotion decisions as well as advertising. Its sales team has also been making crucial decisions on the selection of various managers to conduct the advertising campaign in order to make more sales, and enhancing awareness among consumers. The company also uses other various marketing strategies namely types of advertising media, sales promotion and types of sales promotion, public relations all over the world, personal selling to reach out customers in rural areas, types of selling roles and the selling processes.
The other marketing principles it uses are pricing decisions and managing as well as planning. These principles play a major role in ensuring everything goes well in the sale and managing of products of the company.
Samsung Electronics Company has been able to remain in business and compete with other companies since it has proper management and a well organized sales promotion team that has been able to promote products all over the world. Technology has been a key issue that has enabled the company to reach out to all its customers in the entire world.
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