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New product development strategy of Samsung R&D

New product development strategy of Samsung R&D

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New product development strategy of Samsung R&D

  1. 1. Logo New Product Development Strategy of Samsung R&D Presented by: Submitted to: 1
  2. 2. Objective s To understand new product development strategy overview in Samsung R&D To understand methodology followed by Samsung R&D in New Product Development phase To study effect of Consumer behavior on New Product Development of Samsung To understand challenges and problems faced by the organization in the process of New Product Development Here we are considering only the Mobile Market segment of Samsung 2
  3. 3. y Samsung’s Methodology in New Product Development Methodology followed in the project Research Planning (e.g. Understand the patents) NPD Strategy of Samsung R&D Customized Samsung Standard Product Developme design lab Product Collected primary Developme nt Regions (e.g. GUI/ Analyzed the /US/ and secondary nt (in Korea) Interfaces) (India data data from various for various results Vienna) sources Testing Improve (alpha/ and Version Concluded on the beta) releases basis of various findings and limitations 3
  4. 4. Data Collection and Analysis 35 30 25 20 15 10 5 0  Samsung’s growth was mainly fuelled by sales of digital TVs (in particular LCD TVs)  Global sales of electronic products were affected by the economic downturn. 2007 2008 2009 2010 Consumer Electronics (Retail)  Samsung leads the global smartphones market and commanded 43% of retail volume in the high growth markets of Asia Pacific and the Middle East and Africa in 2012.  Samsung's market share was nearly double that of second ranked Apple in 2012. A comprehensive suite of products allowed Samsung to dominate the smartphone market. 2011 Samsung Corp. 2012  Samsung managed to achieve stellar growth, driven primarily by sales of its smartphones, in particular its Galaxy range. SAMSUNG Corp: Smartphone Market Share & Growth Prospects 2012-2017 Retail rsp (% CAGR) Retail volume YOY growth Consumer Electronics vs. Samsung Corp. 2007-2012 Asia Pacific Western Europe Latin America Middle East & Africa Eastern Europe Australia North America Retail Volume (% CAGR) Note: Bubble size represents Samsung Corp’s % market share in 2012 4
  5. 5. Data Collection and Analysis (Contd…) R&D Expenses & Investment (Unit: KRW trillion) R&D expenses R&D expenses as a % of sales No. of R&D personnel Patents in the U.S. 6000 5000 4000 3515 3611 4551 4923 3000 2000 1000 0 2008 R&D Investment Includes R&D cost and cost for development of intangible assets in the income statement. Samsung Electronics was included among the top 10 global companies in R&D investment announced by the U.K. Department for Business, Innovation and Skills. 2009 Patents in the U.S. 2010 2011 Linear (Patents in the U.S.) As we see from the above graph, patents filed by Samsung in U.S. is increasing continuously over the years. It depicts that Samsung is focusing more and more on innovation and R&D Source: IFI Patent Intelligence 5
  6. 6. Landscape Product Offered Innovation Design Marketing Comparative Analysis of various brands Samsung Electronics Consumer Electronics (LCD TV’s, Microwave Ovens, PC’s etc.) Apple Computer Inc. LG Electronics Nokia Corp. Sony Corp. Motorola Inc. PC’s, portable music Consumer Leading Mobile Comm. players, Mobile Electronics (Mobile Company (started as communication devices handsets, Front wood pulp producers) etc. loading washing machines, AC’s etc.) Electronic Motion Financial etc. Occupies ‘feeling zone’ and emphasis on the simplicity of products in terms of design and instability Concentrated on 5 areas: Mobile comm., Digital appliances, digital displays, digital media and home networking and design their products by using 4 values: Theme, Style, interface and finish Adopted telecom as its core business and designing was based on 3 principles: Simplicity, Relevance and Experience Creates Value added products by doping 4 principles of design: Originality, Lifestyle, Functionality and Usability Focus on two criteria’s for products for their consumers: personalization and socialization Digital Improvement in design convergence using and product features E-Processes and efforts in improving design by investing in R&D Originally produces electronics for mass consumption but later transformed to produce premium consumer products for attracting premium customers and to gain brand image Product categorization is done by: Explore Live classic, classic, achieve and entry and communicating brand value to the customers Do not rely on customer surveys and create value added user experience through feature design, concept development and eco-friendly sustainable design Paid attention on development of new revenue generating services and technologies and enabling customers to experience media mobility. and Focuses on Reason and feeling to create a design and used global localization strategy to establish as a first class consumer (user centric) games, Mobility solutions, pictures, mobile services, cellular services comm. Devices etc. 6
  7. 7. Findings   During the Apple-Samsung lawsuit Internal memos dented Samsung’s image; as an innovator Lawsuit also showed Samsung’s pursuit and obsession to mimic and beat Apple’s iPhone while creating its smartphone range Company’s sponsorship of London’s Olympics in 2012 and the 2-minute advertisement during Super Bowl in 2013 reinforced Samsung’s brand image in the minds of the consumers  Along with smartphones and TVs, Samsung intends to compete aggressively in appliances, cameras, health and medical equipment and printers. Rivalry among established firms Samsung has been spending consistently on advertising Is one of the largest advertisers globally Samsung spent US$4.3 billion worldwide in 2012, four times more than Apple  Relations with suppliers Substitutes Five forces to develop innovative strategy Relations with buyers New Entrants 7
  8. 8. Conclusions and Limitations Conclusion Limitations •Within smartphones, the South Korean manufacturer banked on its AMOLED screen and custom UI for its Androidpowered flagship smartphone, and single-handedly created the phablet (phone/tablet) market •Samsung is still not strong in cameras and laptops, which offers it room for growth, while the company is also aiming to consolidate its lead in mobile phones and digital TVs •Samsung demonstrated that it was not short on ideas in the mobile arena, as well as on strengthening its lead in digital televisions in 2012 •Samsung’s know-how in large-scale manufacturing and its economies of scale give the company an advantage over competitors like Acer in computers and Nikon in digital cameras •Samsung has to show its competitors that it is confident and knows exactly where it intends to steer the market •Samsung has to be selective in its product line-up and avoid direct competition with its rivals 8
  9. 9. Reference s  www.samsung.com/us/aboutsamsung/samsung_electronics/business_area/rd_page/  http://www.businessinsider.in/Samsung-Has-A-Totally-Different-Strategy-From-AppleAnd-Its-Working-Great/articleshow/21250813.cms http://www.portal.euromonitor.com/portal/default.aspx  http://www.businesskorea.co.kr/article/1505/samsung-group-marking-300-trillion-wonrevenue-500-trillion-total-assets  http://articles.economictimes.indiatimes.com/2012-11-30/news/35483331_1_samsungtargets-asim-warsi-samsung-electronics-india  http://www.engadget.com/2013/07/03/samsung-to-build-five-new-randd-centers/ 9
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