This is the brand equity of Samsung who has been operating in electronic industry. Samsung is known for quality smart TVs and phones however, they are also doing in other products as well.
The perceived value of Samsung in the sight of consumers is phenomenal. It is the single leading Television manufacturer since 2006 and has contributed 20% to the growth of Korean economy. It expanded its brand with different new products such as the introduction of new Galaxy smartphone series, Samsung digital cameras & camcorders, smart curved televisions, and other gadgets. Samsung has invested heavily in Research & Development (R&D) to produce the best quality of products rapidly. It has over 50,000 employees working in the Research and Development centers. Samsung’s brand equity provides it a more predictable income stream and increases cash flow by reducing promotional costs, allowing premium prices and increasing market share.
Samsung fought hard to change the perspective of consumers as a cheap electronic goods manufacturer from the beginning. It has adopted aggressive advertising and branding strategy in 1993. The adoption of advertising strategy, Surveys, Bill Boards, and Digital marketing, has raised the level of its popularity. It built its branding philosophy on five pillars: Innovation, world-class designs, advanced technology, internal branding, and recruiting world’s best talents. It has put its innovation into creating new appliances and building new features in already available products.
It is difficult to develop a good reputation of a brand, especially when it comes to business where you have to face competition in a market, but Samsung established itself as a customers’ first choice in the electronic Industry and Android smartphone handsets. In the beginning, Samsung was better known for producing cheap copies of electronic goods of Japan. According to a Survey, Almost 92% consumers are satisfied with overall performance of Samsung products. It competes with Sony in electronics and Nokia in mobile handsets and takes over both because of high-quality products.
Samsung is a group of companies that are tied together for producing best products with higher profit. It is a Korean conglomerate brand, headquartered in Samsung Town, Seoul. It is a big name, so it has to take serious steps to prevent its company from competitors. It has become a famous name in producing electronics, mobile handsets, and tablets. Samsung has specific trademarks like for mobile handsets include Galaxy Legend, Galaxy Forge, Galaxy Lunge, Galaxy Mission, and more. One of the best things about Samsung is its television ads like in 2017 it has mocked iPhone X buyers in its commercial. It has appointed different celebrities to endorse the brand, which was also a successful idea.
Samsung is the only Android smartphone brand that came to the mind when people wish for reliable, affordable, and up to the mark handsets. Samsung comes from Korean language for three stars meaning something powerful. The name is quite memorable but unique. The logo consist of name Samsung written in blue oval with silver color. The logo just depicts the name but do not give any meaning. The brands having strong personalities do achieve great but Samsung brand has provided functional benefits of their products but lacks a bit in offering the emotional benefits.