Question

"expansion by developing new products for current customers", is this a strategy samsung has used? explain why or why not.

Answer 1

Yes, Samsung has extensively expand itself by developing and offering new products to its existing customers. But this wasn't the only strategy being used by the samsung. This company has always tried to expand its business and reach the new customers anyhow by targeting and segmenting the customers into such a manner where it satsifies its existing customers by offering the mos strategic products and services and on the other hand exapnds its market by reaching out the new products and customers making all a part of big Samsung family. Samsung has diversified its business all along in automobiles, phones, technology, telecommunications equipment, chemicals, medical equipment, home appliances and electronic components which tells us about how it has strategically used both the focus and differential strategy in making customer have the value for money with thier products and services. This product development strategy has only helped making this organisation a diversified global brand. It develops new products which are effectively used to target its existing market segments and the locations. It uses an extreme amount of combination for enhancing the exisiting products with launching a new one under the brandname. For example, diversification is reached by having different smartphones developed for the existing customers with more latest features and technology and serving them the best value they could get for the money they paying.