Although the quality, design and technological specifications of consumer electronics remain important characteristics in the decision making process of a consumers’ purchase, marketing strategies and tactics have a crucial impact on the perception of existing and potential customers. The reputation of a company, including their ethical behaviour, from human resources to their impact on the environment at large and the perception of industry innovators in their specific market can influence the profits of a company in a significant manner.
This paper has presented how the external environment can influence the marketing strategy of a company and how Samsung Electronics’ current practices are in line with the demands and realities of the consumer electronics market across the globe. Although the competition is fierce and Samsung’s rivals in the TV market share are other well-known global brands such as LG, Sony or Panasonic, the ethical behaviour of Samsung has helped the company increase their revenue each year, through launching products that attract the technological savvy customers, as well as launching promotional offers for the customers who are more price sensitive.
Samsung’s ambition to become a global leader in the consumer electronics industry is complemented by their investment in research and development and marketing functions of the organisation, as well as adapting a strategy of glocalisation, using their recognisable brand name but becoming aware of the needs and desires of customers in each local market.
All in all, this paper proves that time and resources invested in developing a strategy that focuses on the needs and desires of customers across the distinct markets that a global leader operates in translates into increased profits and reputation building.