Assessing the Global Market
Samsumg is one of the leading brands in digital technology and ranks #9 in the world’s most valuable brand with a market cap of $186.47 billion. In an interview with Business Week Online, Samsung’s SVP of Sales and Marketing of the North American branch, Peter Weedfald stated that their mission as a company is “To become the #1 provider o the best digital lifestyle experience available to all consumers for home, business and mobile. They pride themselves on being in a market driven culture offering a market making product, which just a few years ago, they were introducing new “better” feature products every two weeks. Mr. Weedfald also made a note that because of their successful marketing tactics to focus on what the customer wants out of a product, the DOP caused a “decline in competitor products.” As a company, Samsung has accumulated “brand infatuation” by take many measures to make the right product for consumers based of research and studies taken to make the product right. One study is the Brand Attitude Study or BAS, which the company takes the wants, needs and desires of a product from consumers and asses the market to offer the best product for consumer intake. Having emotional capital with consumers is key as well enabling the realization of product attributes by a consumer. Emotional capital includes: image, warmth, experience, and the perception one get from seeing the product for the first time. There is also a study that is conducted with dealer to ensure they are selling the best quality product for their own personal business success and to make sure that they are infiltrating the product to the market correctly, this is Dealer Attitude Studies or DAS.
Condition of Global Market Development
The Global Market is a broad and ever changing market with various products and services being offered through international business, e-commerce, and product markets as a whole. With the constant change in the global market international business have to focus on staying innovative and on top of their product. Consumers can never be fooled. As stated above, Samsung take measures to get consumer…