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Wednesday, May 26, 2004

Digital Darwinism & Samsung's online strategy via FC

Peter Weedfald, senior vice president of strategic marketing and new media for Samsung Electronics America Inc says,"We have moved from being a time-to-market company to a time-to-volume business. Our pecuniary opportunities lay in 30-60 days of shelf space. I look at more than 300 business plans a year. It's a blinding blur. So what do we do? Our key disciplines are very simple. One, our manufacturing prowess. Two, Samsung has been the driver of digital convergence for the last five or six years.We look at three worlds for everybody. You have a business world, a mobile world, and a home world". From our perspective there are only three businesses left on this planet. One business is the content business. Another business is the pipe business.We're going to move into the perfect information economy. What do we do when someone goes into Best Buy with Wi-Fi, compares products on Buy.com and Dell.com while they're there? That?s a disruptive technology. Thank God there's a lot of people in denial. What are we going to do about? If technology is important, how can we express that our technology is better?onventional marketing is so dead it's frightening. We need to look at it differently. People don't buy TVs and cell phones, they buy a dream. They buy a consumer or business dream. We need to overhaul our entire Internet strategy. You can't do that in a vacuum. The only way to drive value on the Internet is through CRM. CRM is not customer relationship management. That's a software package. CRM stands for "Customers really matter."We have moved from being a time-to-market company to a time-to-volume business. Our pecuniary opportunities lay in 30-60 days of shelf space. I look at more than 300 business plans a year. It's a blinding blur. So what do we do? Our key disciplines are very simple. One, our manufacturing prowess. Two, Samsung has been the driver of digital convergence for the last five or six years.

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