SEC CORPORATE TURNAROUND STRATEGY

SEC Corporate Turnaround Strategy

SEC Corporate Turnaround Strategy

Q1-What are the ingredients of SEC's corporate turnaround strategy? What are the implications for marketing?

Ans. Samsung over the years had vastly increased the sales of their mobile phone handsets online. The World Wide Web is a rapidly growing industry and is an alternative way to traditional marketing strategy according to various people. Internet marketing has not completely taken over the concept of Marketing, but has incorporated it and expanded the opportunities available to marketers. Internet Marketing still uses the traditional concepts of the marketing mix (4 P's), but the logic of them has changed. Consider 'Promotion', with traditional marketing businesses used a one too many process, by using mass media to transmit their advertisement to their customers. This involved no interaction with the customer. Internet Marketing changes this by using a many to many communication process, enabling customers to interact with the medium, with each other and also provide content to the medium. Thus, marketers must reconstruct advertising models for the interactive, many to many medium underlying the web. This is perhaps one of the major changes from the traditional methods of marketing.

One of the most obvious advantages that Internet marketing provides is the removal of barriers in regards to location. Samsung can now reach a much wider audience; customers that were considered unreachable can now be targeted with new products (Diversification). Also Samsung do not need operate from a physical location (shop front) any more, they are able to provide all the information that a customer needs on their web site e.g. using catalogues, pictures, video clips etc. This has an effect on the 'Price' of their products and services as overheads may be reduced (such as rent). A disadvantage of this is that Samsung must be aware of what customers ...