Problem space and opportunity recognition
Samsung Company in Australia operates at Melbourne Central, Sydney and Garden City. The company offers a variety of services and products such home appliances, mobile phone and other electronics. Recently the company launched Galaxy Tab S4 in the market to its customers (Lee, 2015). I have been using the company’s products such as a woofer, mobile phone and computers for long this has made Samsung Company be my dream working company in Australia. The company enjoys a large market share in Australia making it a leader among other company offering the same products and services in the market. Some of the factors which increase its competitive ability in the market include its product pricing and product quality. Other companies have tried to compete with the company for long, but none have out-performed Samsung due to the said factors among others (Knöpfle, 2016). In this paper, we are going to discuss the company in details
Choose a problem space (opportunity recognition)
As I have stated above this paper will analyze the Samsung Company which I have been buying services and product from. I believe to enough information about the company both from my friends and others on the internet. Also, as I have stated earlier, the company have been operating in Australia for a couple of years now (O’Regan, 2014). Due to its high-quality products and well-researched customer management skills, the company become the leader in the Australian market. However, as we all know any company faces both opportunity and challenges in the market and the way a company deals with them will determine its growth or exit strategies. Samsung being of the many companies also faces some challenges and opportunity in the market it has managed to control them to prevent the company exit in the long run (Chang, 2010). In the current year, the company has been faced with a problem of declining sales. This paper will discuss this challenges, and at some point, it will come up with an innovative way of managing a decline in sales from the company. The decline in sales has a long-term effect on the company. This is because sales help the company to sponsor all its projects with any problem. A decrease in sales will have a negative result for the company.
Identify human in your problem space
Samsung as a company has so many stakeholders such as the government who depends on the taxes paid by the company to sponsor its many projects such as the building of roads, hospitals and other infrastructure to its citizen. The business also depends on the government to provide the security for them. Protection to the business from the government is of two types. The security against theft which might steal from the business and also the security against foreign company exploitation. Foreign companies are strong both financially and technologically meaning if the government does not protect its local companies they will be forced to close (George Kozmetsky, 2013). Another group of the stakeholder is customers who purchase the services or the products from the company. Every company’s primary goal apart from making a profit is to make sure customers are satisfied. The more the customers are satisfied, the higher the likely hood for them is purchasing from the company again. Loyal customers are those who buy from the company continuously which the company must always look at their need. Another category of stakeholders are the employees who work hard to make sure the company attains its goals and objectives. The company must realise with employees the company cannot achieve its goals and objectives at long last. Workers are the company’s image when outside or inside the company. This means that the company must make sure all workers are behaving well inside or outside the company. The three stakeholders are affected by the Samsung sales decline in one way or the other which means the faster the issue is addressed the better (Kozmetsky & Yue, 2015).
Stakeholders affected by Samsung’s declining sales
The term mind-mapping was popularised by British popular psychology who was also a television personality Tony Buzan, it uses diagram which visually information using branching and radial maps traces back centuries. The pictorial methods record knowledge and model system also this has a long history in learning memory, problem-solving, brainstorming and visual thinking by educators, psychologists, engineers among others (Buzan, 2014).
Majority of consumers and customers would like companies to manufacture quality products and services which satisfy their needs. Otherwise, they will look for the same product or services elsewhere. However, the companies must understand that not all customers who necessarily look for quality products, others customers price of the product plays a key role a deciding either to buy or not. One of the customer’s needs is the product to satisfy their endless need. Many customers would not like to buy in a company which does not consider their needs for considerations (Buzan & O’Brien, 2015). Currently, Samsung Company is offering varieties of customers ranging from home apply mobile phones to electronic gadgets. However, the company does not consider the customer’s taste and preferences in the making forcing the customers to stop buying from the company. Majority of mobile phone from Samsung is of black colour, although, some consumers may like or want a red, pink, grey or blown colour thus forcing them to buy from another competing company (Brook Lapping Productions, 2016).
The decline in sales in a company can be controlled in different ways. For instance, the company can use mainstream and social Media to carry out public campaigns on the good side of using Samsung products. Public campaigns using media houses is used to retain or gain new customers from the market. Sometimes this method can be the most expensive method among other techniques. Apart from public campaigns, the company can also do customer follow-ups where it will follow those customers who have purchased any products from the company and seek their views about the company products and services, by this the company will be able to know all its weakness and act accordingly. However, this paper will not discuss any of the above opportunity but lather it will discuss about coming up with new products. One of the most innovative way Samsung can do to prevent the decline in sales is through coming up with new products and services with no substitutes. The new products will be improved in quality and consumers will lack an alternative in the market thus will have no other choice but to buy. The new product will increase the sales of a company annually thus benefiting the company in the long run.
Importance of new products in managing declining sales
Empathy research (user-centered research)
Engage in field research to gather insight
To realize the above reason I had used number of research before achieving the company’s sales is declining. Some of the research methods used in this research paper include
Observation
Observation is one of the best ways of collecting information from the market. This method is the simplest among other means as the person gathering information is supposed to stand at a strategic place and observe how customers are behaving on buying the target product. In this case, the researcher held in a strategic position inside the three Samsung Companies in Australia on different days. The researcher was supposed to observe how the customers are behaving when making a purchase, which is the most preferred product among all the company products. The only short-coming associated with this method is the person collecting the information must be physically present in the field all day to observe the consumers behaviour.
Conversation
Conversation with customers is another method. One must understand that on observation the researcher is not supposed to speak with the customers. Communication helps the research to know how the consumer feels about specific products and services. They have the chance to explain to the research what should be added or removed from the product by the company. Like the observation method also this method requires the researcher to visit the place where consumers are found (Greg Guest, 2015).
Immersion
To understand what the customers are going through the researcher must immerse herself. In some cases, the researcher immersed herself in a community buying and using the Samsung products to understand that there are going through. This method gives the researcher a clear idea of what is happening in the market. Also like a conversation the researcher can book the consumers feeling, taste and preferences (Courcy, 2012).
From the research conducted from the field, the researcher realised some deep emotion from the consumers. For instance, there was a lot of pain among female consumers who preferred phones from other colours apart from black. They could not understand how a big company like Samsung could serve its customers with a mobile phone with similar colors. They felt like the company never cared about their tastes and preferences even at once.
Define phase (problem definition)
From the research, it was realised there was a significant unmet market. Some customers unlike educated about the Samsung company, they were unaware about its products and the services the company offers to the consumer. Also, the loyal customers had some small complaint which they complained secretly, and they were not feeling good about the company. Majority of those who even quitted using the company’s product promised they would go back to using the company products if it listens to their need. Those still using different products from the company wanted the company to carry out more researches so that it can continue improving the product quality. One thing majority of customers agreed is the company is doing enough and using improved technology to produce the best quality compared to other companies in the market providing the same goods.
Empathy research methods for gathering insight
The researcher realized to reduce the decline in sales the Samsung must come up with products with all colours to make all consumers happy and satisfied. The researcher realised that apart from increasing the number of sales the innovation will utilize unmet market in the business. This is because there is not even a single company in the market producing high-quality mobile phones with a different colour in large quantity.
This is a problem statement which is framed from the user’s point of view. This is what the customers don’t seem to understand the company’s product and services. Always consumers will ask questions which can be answered by the company only. For instance, the consumers are asking why the company cannot manufacture products with different colours. The company must try all the time to answer what the consumers are asking. Otherwise, they will turn to the competitors for substitute or the same products. The best point of view statement can be when the Samsung Company develops the mobile phones with different colours to satisfy the consumers and customers at large?
HMW question
Also, the company finds some difficult questions which it tries to answer. In answering the same issues the company finds itself in a nice place to solve the problem. The biggest question the company is asking itself right now is why are the company sales declining in the past few years? In trying to answer the question the company will find itself in the right position. The reason why the company must solve the issue of sales decline is to increase the profit. The primary purpose of any business is to make a profit while others, like satisfying the customers and offering quality products, come later. In increase will help the company in growth and prevent the idea of exiting from the business market.
References
Brook Lapping Productions, 2016. Tony Buzan. 3rd ed. [London]: Teachers TV/UK Dept. of Education.
Buzan, T., 2014. How to mind map : [the ultimate thinking tool that will change your life]. 3rd ed. London: Thorsons.
Buzan, T. & O’Brien, D., 2015. Mindmap mastery: the complete guide to learning and using the most powerful thinking tool in the universe. 5th ed. London: Watkins, an imprint of Watkins Media Limited.
Chang, S.-J., 2010. Sony vs Samsung: The Inside Story of the Electronics Giants’ Battle For Global Supremacy. 4th ed. Hoboken: John Wiley & Sons.
Courcy, M. D., 2012. Learners experiences of immersion education: case studies of French and Chinese. 5th ed. Clevedon, UK; Buffalo, N.Y. : Multilingual Matters.
Courcy, M. D., 2014. Learners’ Experiences of Immersion Education: Case Studies of French and Chinese. Bilingual Education and Bilingualism. 3rd ed. Not Known: Multilingual Matters.
George Kozmetsky, . Y., 2013. Global economic competition: today’s warfare in global electronics industries and companies. 5th ed. Boston [u.a] : Kluwer.
Greg Guest, . E. N. L. M., 2015. Collecting qualitative data: a field manual for applied research. 4th ed. Thousand Oaks: SAGE Publications.
Knöpfle, G., 2016. Samsung Electronics and the Global Market. The History and the Competitive Advantage. 1st ed. Munich: Munich GRIN Verlag.
Kozmetsky & Yue, P., 2015. Global Economic Competition. 4th ed. Boston: MA Springer US.
Lee, D., 2015. Samsung Electronics: the Global Inc. 2nd ed. [Seoul, Korea]: [YSM, Inc.].
O’Regan, P., 2014. Financial information analysis: the role of accounting information in modern society. 3rd ed. London; New York, NY: Routledge.
Rainey, D. L., 2013. The pursuit of sustainable leadership: becoming a successful strategic leader through principles, openness, and learning. 4th ed. Charlotte, NC: Information Age Pub.
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