Samsung announced plans in February to create a $1.1 billion fund to invest in Silicon Valley start-ups to search for new growth engines. Kevin Lane Keller, a world-renowned marketing expert with close ties to Samsung executives, says that’s perfectly doable.
“Considering what Samsung has done so far, (Samsung’s initiative for open innovation) is achievable in Silicon Valley,” said Keller in an interview on the sidelines of a symposium on Thursday, which marked the 20th anniversary of Samsung’s New Management Initiative.
Samsung’s advantage is that it has already achieved globalization, he added. This, in turn, will help offset the rigidity of Samsung’s top-down organizational structure, the expert said.
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Kevin Lane Keller |
He noted that being a chaebol gave the company the advantage of being “clearly decisive” on significant management issues.
Marketing, meanwhile, will be a critical factor for continued success, Keller said, likening Samsung to other product-focused companies such as BMW and Nike that achieved success by reinforcing their marketing campaigns.
“Samsung will always be a product-driven company, but I think marketing is going to serve an important role. They recognize this and they’re going to invest in it, and their marketing is getting better and better,” Keller said.
Citing Samsung’s inspirational leadership and focus, Keller said Samsung is no longer a “fast follower.”
“Samsung is introducing breakthrough products in different areas, and will continue to do so. That label is one that you heard once upon a time, but that’s not the case anymore.”
A professor of marketing at Tuck School of Business at Dartmouth College, Keller has worked with Samsung for long periods of time and is associated with the top brass including Shim Soo-ok, Samsung Electronics’ chief marketing officer.
By Kim Young-won (
wone0102@heraldcorp.com)
