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Friday, August 05, 2005

Samsung's Goal: Be Like BMW

AUGUST 1, 2005 -
Image hosted by Photobucket.comBMW

"Like the iconic carmaker, the Korean electronics giant is out to build a brand that people know instantly and desire, says its chief marketer

Since BusinessWeek and leading brand consultancy Interbrand launched our annual ranking of the 100 largest global brands five years ago, no brand has dominated the list more than Samsung, the Korean consumer-electronics maker. In that time, no other global brand has risen as much in brand value -- 186%, to $14.9 billion, by the end of 2004. Advertisement

Surpassed only by eBay (EBAY ) last year in brand growth, Samsung posted a 22% gain, overtaking Sony (SNE ) in overall brand value to become the leading consumer-electronics brand (see BW, 7/4/05, "The Best Product Designs of 2005").

How Samsung did this is a testament to a strategy of singularly focusing on one brand -- a "master brand." With so much media fragmentation and clutter, Samsung believes the master-brand strategy is the only way to reach the consumer today. A similar strategy is being followed by other top gainers on this year's list.

In an interview with Robert Berner, a correspondent in BusinessWeek's Chicago bureau, Samsung's Global Chief Marketing Officer Gregory Lee discusses in detail why Samsung made this shift, why design is a very important part of brand identity, and where the Samsung brand is still weak. Edited excerpts of their conversation follow:

>Read full Business Week article


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