麦肯锡帮三星对某著名企业的分析

WhiteGoodspetitorAssessment–某著名企业SamsungElectronicsChina(SECChina)August,2001Thisreportissolelyfortheuseofclientpersonnel.Nopartofitmaybecirculated,quoted,orreproducedfordistributionoutsidetheclientorganizationwithoutpriorwrittenapprovalfromMcKinsey&pany.ThismaterialwasusedbyMcKinsey&panyduringanoralpresentation;itisnotapleterecordofthediscussion.Samsung010620BJ-某著名企业CONTENTS1.BackgroundinformationLocationStartingyearIPOdateNumberof

employeesBrandvalueMarketshareSalesrevenueEquitystructureEraanalysis4.Valuechainstrategy5.Organizationandownership6.FinancialperformanceFocusonMarketing,

advertisingand

promotionDistribution(channel

andsalesforce)OrganizationstructureSalesProfit2.Strategy3.Product/marketCorporatestrategyKeyproductofferingsMarketpositionKeycustomersValuepropositionGeographicfocusPricing1Samsung010620BJ-某著名企业CONTENTS1.BackgroundinformationLocationStartingyearIPOdateNumberof

employeesBrandvalueMarketshareSalesrevenueEquitystructureEraanalysis4.Valuechainstrategy5.Organizationandownership6.FinancialperformanceFocusonMarketing,

advertisingand

promotionDistribution(channel

andsalesforce)OrganizationstructureSalesProfit2.Strategy3.Product/marketCorporatestrategyKeyproductofferingsMarketpositionKeycustomersValuepropositionGeographicfocusPricing2Samsung010620BJ-某著名企业BACKGROUNDINFORMATION

Source: Annualreport;analystreports;website;YuegangInformationDaily Location:QingdaoStartingyear:1984IPOdate:ListedrefrigeratorbusinessinNovember,1993Brandvalue(2000):~RMB30billionMarketshare:Refrigerator:31%;Washingmachine:29%;AirConditioner:20%;Microwe:2%Numberofemployees:30,000Equitystructure:KeyshareholdersPercentage某著名企业Group某著名企业ElectronicInternationalCo,.Ltd31.44%17.93%SalesRevenue(2000):RMB40.6billion3Samsung010620BJ-某著名企业某著名企业'sDEVELOPMENTWENTTHROUGHTHREESTAGES

Source: 某著名企业'swebsite,literaturesearchBrandingDiversification

andexpansionGlobalization1984-19911992-19981998-KeyinitiativeBuiltastrongbrandnameinrefrigeratorsthroughawelldeve-lopedTQCsystemDiversifiedtheproductportfolioto"oidhingallthe-pany'seggsinonebasket"throughmer-gersandacquisitionsTobuildaninternationalbrandnameAspirestobefortune500KeyresultsWonthefirstprizein"themostforitelightindustryproductsrefrigerators”5yearsinarowWonthestateprizeforqualitymanagementPresentedwiththecustomersatisfactioncupbyChina'scustomersatisfactionmovementcongressAcquired14enterprisesunderthe"eatingdormantfish"strategy.Successfullyturnedthesebusinessesaroundbyleveraging某著名企业'sbrandandintroducing某著名企业'sOECmanagementExpandedproductportfoliofrom1producttoover9,000productsin42categoriesSoldproductstoover160countriesandregionsandestablishedmorethan38,000salesoutletsacrosstheworld4Samsung010620BJ-某著名企业某著名企业'sbrand

valuein2000:

~RMB30billion某著名企业'sBRANDBECAMETREMENDOUSINTANGIBLEASSET

Source: Literaturesearch,websiteExamplesof某著名企业'ssuccessfulinvestmentwithitsbrandAcquiredQingdaoRedStarElectronicpanyandchangeditswashingmachine'sbrandinto"某著名企业".WiththehelpofOECmanagement,quicklyturnedthepanyintoaprofitablebusiness.某著名企业becametheNo.1brandforwashingmachinethenextyearandenjoyedthehighestmarketshareAcquiredcontrollingsharesofShundeWashingMachineFactorywith某著名企业brandandquicklyturnedaroundthebusinessTookcontrollingsharesofHangzhou某著名企业Electronicpanywith某著名企业brandanddeveloped某著名企业seriesofcolorTV5Samsung010620BJ-某著名企业

Source: Website KitchenappliancesRefrigeratorFreezerMicroweGasrangeSmallappliancesElectricironVacuumcleanerVentilatingappliancesAirconditionerRangehoodAirpurifierCleaningappliancesWashingmachineElectricwaterheater某著名企业OFFERSBROADRANGEOFPRODUCTS某著名企业'skeyproductofferingsMobilehandsetTelmunicationsBrowngoodsColorTVVCDTelephonePCPDAIT6Samsung010620BJ-某著名企业某著名企业HASSUCCESSFULLYEXPANDEDINTOGLOBALMARKET

Source: AnnualreportDevelopglobaldistributionnetwork62distributorsandaround38,000outletsacrosstheworldSetupproductionfacilitiesoverseasSetupplantsinIndonesia,Philippines,Malaysia,EastEurope,US1999exportsRefrigerator:568,000unitsAirconditioner:200,000unitsWashingmachine:190,000unitsRefrigeratormarketshare

inUS(2000)<124L:30.1%183-266L:35.88%7Samsung010620BJ-某著名企业CONTENTS1.BackgroundinformationLocationStartingyearIPOdateNumberof

employeesBrandvalueMarketshareSalesrevenueEquitystructureEraanalysis4.Valuechainstrategy5.Organizationandownership6.FinancialperformanceFocusonMarketing,

advertisingand

promotionDistribution(channel

andsalesforce)OrganizationstructureSalesProfit2.Strategy3.Product/marketCorporatestrategyKeyproductofferingsMarketpositionKeycustomersValuepropositionGeographicfocusPricing8Samsung010620BJ-某著名企业某著名企业'sSTRATEGICFOCUSIN2001

Source: 某著名企业'sannualreport"Valuewar"insteadof"pricewar"FocusonimprovingtechnicalcontentsinproductsProduce"individualized"productsGlobalpetitiveadvantageArrangeallbusinessprocessesaroundorderflowBuildpetitiveadvantageinquality,costandleadtimethrough"OEC"managementProductdevelopmentDevelopproductsthataretailoredfordifferentcountriesandregionsImprovetechnologyinlargecapacityrefrigeratorsandnetworkrefrigeratorsImproveproductioncapabilityforspecialrefrigeratorsHumanresourceProviderigoroustrainingstoemployeesanddevelopthemintoindustryexpertsandmanagementexpertsServiceBuildextensiveandexclusiveservicenetworktoensurestrongreputationofbeingaserviceleader9Samsung010620BJ-某著名企业CONTENTS1.BackgroundinformationLocationStartingyearIPOdateNumberof

employeesBrandvalueMarketshareSalesrevenueEquitystructureEraanalysis4.Valuechainstrategy5.Organizationandownership6.FinancialperformanceFocusonMarketing,

advertisingand

promotionDistribution(channel

andsalesforce)OrganizationstructureSalesProfit2.Strategy3.Product/marketCorporatestrategyKeyproductofferingsMarketpositionKeycustomersValuepropositionGeographicfocusPricing10Samsung010620BJ-某著名企业某著名企业S'sKEYWHITEGOODSOFFERING

Source: LiteraturesearchWhitegoodsWiderangeoftypesSide-by-sideRefrigeratorWashingmachineAirconditionerMicroweProducttypeDoublechamberDrumPulsatorWindowSplitPackagedCentralairGrillandnon-grillMechanicandelectronic11Samsung010620BJ-某著名企业某著名企业WHITEGOODSMARKETSHARE,2000RefrigeratorWashingmachineAirconditionerPercent

Source: LIICMicrowe12Samsung010620BJ-某著名企业 * RongshengandKelonbined

Source: SINO-MR,GfK,LIIC 100%=1998Others1999200037.415.58.72.732.435.713.88.25.95.728.030.912.38.610.08.826.1Samsung

ElectroluxMeilingKelon*某著名企业Siemens8.69.19.4某著名企业andKelonaretheleadingplayers.However,theirmarketsharesaredecreasingAlthoughlaterstothemarket,ElectroluxandSiemensarequicklybuildinguptheirpositionsbyfocusingonmid-tohigh-endandhigh-endmarketsparedtootherMNCplayers,Samsung'sgrowthinthemarketisratherslowMillionsunits,percentRefrigeratormarketshareofmajorplayersinmajorcities4.5-6.215.6270.7101.23.9-6.9-5.0CAGR(98-00)

PercentSamsung某著名企业/Kelon/MeilingSiemens/Electrolux2.63.32.70.7某著名企业ISALEADINGPLAYERINMOSTOFWHITEGOODSMARKETSREFRIGERATOREXAMPLE13Samsung010620BJ-某著名企业 * KelonandRongshengbined

Source: SINO-MR,GfK,LIIC 100%=North

ChinaOthersSamsungElectroluxMeilingKelon*某著名企业Siemens2.33.50.5ElectroluxandSiemensaredoingparticularlywellinSouthwestApartfromSouthwest,MNCplayersaredoingbetterineastChinaandSouthChina,relativelymoreaffluentareasSamsungisrelativelystronginEastChinaandSouthChinaNorth

EastEastChinaCentral

SouthSouth

WestNorth

West0.90.71.432.011.68.59.85.31.730.836.616.111.57.65.90.421.926.06.29.79.48.210.130.331.014.36.99.710.53.324.420.411.09.819.218.50.320.833.818.29.68.60.124.15.6Refrigeratormarketshareinmajorcitiesbygeography,2000Millionunits,percentSamsung某著名企业/Kelon/MeilingSiemens/Electrolux某著名企业HASDEMONSTRATEDSTRENGTHINMOSTGEOGRAPHICREGIONSREFRIGERATOREXAMPLE14Samsung010620BJ-某著名企业 * AnotherKelon'sbrand

Source: SINO-MR,GfK,LIIC 100%=<1,500OthersSamsungElectroluxMeilingKelon某著名企业Siemens0.92.30.3Siemensisfocusingonveryhigh-endmarketwhileElectroluxisfocusingonmid-to-highendmarketSamsungdemonstratedstrengthinlow-pricemarketKelonusesmulti-brandstrategytotargetbothlow-to-midendmarketandmid-to-highendmarket1,500-

2,5002,000-

2,5002,500-

3,0003,000-

4,000>4,0002.01.92.024.112.51.217.819.624.80016.012.60.17.74.145.713.828.316.50.18.510.031.51.93.447.39.71.15.98.87.21.318.736.32.03.82.919.326.09.40.429.80.14.34.70.348.10.312.5Rongsheng*0Refrigeratormarketshareinmajorcitiesbypriceband,2000Millionunits,percentElectroluxKelon/RongshengSiemensSamsung某著名企业’SPRODUCTSCOVERALMOSTALLPRICESEGMENTSREFRIGERATOREXAMPLE15Samsung010620BJ-某著名企业 * AnotherKelon'sbrand

Source: SINO-MR,GfK,LIIC 100%=<100LOthersSamsungElectroluxMeilingKelon*某著名企业Siemens0.21.00.7某著名企业isleadinginmostmarketsElectroluxandSiemenshestrongpositioninmid-to-largecapacitymarketsSamsungisverystronginsmallcapacity

(<100L)marketandisrelativelystronginmidcapacitymarket100-

150L150-

180L0.61.23.1180-200L200-

225L225-

250L250-

300L>300L2.60.03Rongsheng*40.47.8036.90.119.851.213.401.49.602.821.424.823.30.59.07.76.51.127.129.89.10.813.75.27.54.229.735.511.70.85.911.010.12.922.123.45.41.17.824.12.61.234.417.28.55.25.013.730.419.90.125.1019.02.61.152.00.20Refrigeratormarketshareinmajorcitiesbyproducttype,2000Samsung某著名企业/Rongsheng/KelonSiemens/Electrolux某著名企业’SPRODUCTSCOVERBROADRANGEOFTYPESREFRIGERATOREXAMPLE16Samsung010620BJ-某著名企业CONTENTS1.BackgroundinformationLocationStartingyearIPOdateNumberof

employeesBrandvalueMarketshareSalesrevenueEquitystructureEraanalysis4.Valuechainstrategy5.Organizationandownership6.FinancialperformanceFocusonMarketing,

advertisingand

promotionDistribution(channel

andsalesforce)OrganizationstructureSalesProfit2.Strategy3.Product/marketCorporatestrategyKeyproductofferingsMarketpositionKeycustomersValuepropositionGeographicfocusPricing17Samsung010620BJ-某著名企业APARTFROMSTRONGBRAND,某著名企业’SKEYSTRENGTHSLIEINSTRONGATTENTIONTOR&D,SUCCESSFULSUPPLYCHAINANDLOGISTICSMANAGEMENT,WIDEDISTRIBUTIONNETWORKSANDQUALITYAFTER-SALESSERVICESKeystrengthsR&DLeadingtechnologiesinhighefficiency,inverter,energy-sing,environmentalprotection,etc.StrongR&Dresource(R&Dspendingaccountsfor45%ofrevenue)Quickmercializationofnewtechnologies(75%mercializationrate)ProductdesignreflectingindividualizationFounded某著名企业CentralInstituteofResearchwithpartnersfromUS,Japan,Germany,etc.Setup48R&DentitiesworldwideSetupnewproductexperimentcenterineachkeybusinessunitBuildtechnologyalliancewith15researchinstitutesincludingPhilips,C-MoldandNetscreenRecentdevelopmentLogisticsSophisticatedsupplychainmanagementandhighlyefficientlogisticsmanagementLaunched“Idesignmyownrefrigerator"marketingstrategyBuiltERP,BPPandCRMsystemsBuiltChina’slargestandmostadvancedlogisticscenterinQingdaoSalesandmarketingStrongbrandrecognitionInvestedRMB0.5billioninA&PDistributionHighlyefficientdistributionnetwork

(42distributioncenters,andover

9,000salesoutlets)Improveddeliverytimeto8hoursinhubcities,24hoursinsurroundingareas,4daysanywhereinthecountryAfter-salesserviceStrongreputationinofferingexcellent

after-salesserviceContinuepromotetheconcept"customersarealwaysright"18Samsung010620BJ-某著名企业某著名企业LOGISTICSHASGAINEDRICHEXPERIENCEINSOPHISTICATEDSUPPLYCHAINMANAGEMENT

Source:Literatureresearch Optimizedsupplychainmanagement某著名企业’soperatingobjectiveZeroinventoryZerodistanceZeroworkingcapital某著名企业logisticsmanagementmodel:“one-flowandthree-net”Oneflow:orderinformationflowThreenetGlobalsupplierresourcenetworkGlobalcustomerresourcenetworkITnetworkCurrentcapabilities某著名企业’sorderflow~6,000orders/month~15,000sourcingpartsSupplierbase978supplier(58%lowerthanbefore)20%internationalsuppliersincludeGE,Emmerson,etc.Internetusage100%purchasingordersonline20%onlinepaymentPurchasingleadtime3daysparingwith10daysbefore19Samsung010620BJ-某著名企业某著名企业’sDISTRIBUTIONCENTERHASALARGEGEOGRAPHYCOVERAGEINCHINA某著名企业’sdistributionnetwork某著名企业logisticscenter(Qingdao)42distribu-tioncenters1,550specialtystoresand~9,000salesoutletsDistributionnetworkinChinaInternationalpresence:DGforair-conrelatedproductsatHamburgerHarbor,Germany,partneringwithHHLAShanghaiBeijingWithestablishednetwork,某著名企业haspromisedapetitivetimeofdelivery8hourswithincorecities24hoursinadjacentareasofcorecities4daysfornationwidedistributionTransportationequipment:over10,000trucksinChina某著名企业’sfacilities20Samsung010620BJ-某著名企业某著名企业HASADISTINCTIVEDISTRIBUTIONAPPROACHWHICHISHEILYFOCUSINGONDIRECTRETAILSALESFORBASEAND

HUBCITIES..

Source:Fieldinterview;McKinseyanalysisSpecialtyshoresFirsttiercitySecondtiercityThirdtiercity某著名企业shop-in-shopsRetailersinfirsttiercitiesRetailersinsomelargesecondtiercitiesSpecialtystore某著名企业shopinshopsRetailersinsecondtiercitiesSpecialtystore某著名企业shopinshopsRetailersinthirdtiercitiesSpecialtystores某著名企业A/CsalesCo.某著名企业salesbranchesinsmallsecondtiercitiesWholesalesinsomethirdtiercities某著名企业salescenterinfirsttiercities某著名企业salescenterinsomelargesecondtiercities某著名企业salescentersinfirstandsecondtiercities某著名企业salesbranchesinbigthirdtiercitiesEastregionNorthregionWestregionSouthregion21Samsung010620BJ-某著名企业CONTENTS1.BackgroundinformationLocationStartingyearIPOdateNumberof

employeesBrandvalueMarketshareSalesrevenueEquitystructureEraanalysis4.Valuechainstrategy5.Organizationandownership6.FinancialperformanceFocusonMarketing,

advertisingand

promotionDistribution(channel

andsalesforce)OrganizationstructureSalesProfit2.Strategy3.Product/marketCorporatestrategyKeyproductofferingsMarketpositionKeycustomersValuepropositionGeographicfocusPricing22Samsung010620BJ-某著名企业某著名企业’SORGANIZATIONSTRUCTUREBODCEOPresidentExecutiveVPVP