Developing And Managing Products

According to Samsung, more than 40,000 of their employees engage in research and development in order to discover the next generation of powerhouse products . Samsung focuses sedately on innovation. As Samsung fights to be number one against their greatest competitor Apple, speed and innovation is crucial in obtaining a competitive advantage. In 2013, Samsung plans to spend about 9.3 billion a year on research and developement, compared to Apple's 2 billion. Spending this much money, Samsung has a much greater chance of being the forerunner in innovation. They also can secure more patents, which can help them against big lawsuits that threaten to damage the company, and help in their fight against Apple. Samsung controls 100,542 patents worldwide; 4,551 registered in the U.S. making them second to IBM .

Integrated Marketing Communications

Intergrated Marketing Communications is the coordination and integration of all marketing communciation tools, avenues, and sources . All aspects of marketing such as sales promotion, advertising, online communications, and public relations work together to create a commendable experience for their customers. The traditional marketing concept of solely looking at the advertising department has been changed . IMC encourages all departments of marketing to work together to reach all consumers . As time goes on, every consumer cannot be reached in the same traditional way.

IMC promotes using multiples forms of communication to reach consumers . They often target specific groups of people . Correct use of IMC can create a very high advantage against vast competitors. IMC highly endorses customer satisfaction. They promote a form of relationship marketing which helps to create loyal customers. Loyal customers help to prevent the inevitable downfall of the company due to competition . 

Product Concepts

As a growing company, Samsung focuses highly on products and concept creation . They have three teams within the company that focus on this specifically .They are broken into divisions called Product Management, Product Planning, and Concept Creation . The Product Management division focuses on creating products with quality and delivering them on time . The Product Planning division focuses on products within their earliest phases while Concept Creation creates products for the future.

As an electronics company, Samsung creates mostly shopping products. A shopping product is a product in which a consumer will spend time gathering information about price,quality,etc ,before making a decision to buy . Samsung also creates convenience products, which are consumed on a regular basis, and purchased frequently.