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Contents (1.1) Review the changing perspective in Samsung marketing planning. ............................... 2 (1.

2) Evaluate Samsung capability for planning its future market activity ............................... 3 (1.3) Examine technique for organisational (Samsung) auditing and for analysing external factors that affect marketing planning ........................................................................................ 5 Carry out organisational (Samsung) auditing and analysis of external factors that affecting the marketing planning in Vietnam (1.4) .................................................................................. 12 (2.1) Assess the main barriers of marketing planning. ............................................................. 13 (2.2) Examine how Samsung Vietnam may overcome barriers to marketing planning. ....... 15 References: ................................................................................................................................ 17

(1.1) Review the changing perspective in Samsung marketing planning.

The Samsung Group is South Korea's largest company and the world's second largest conglomerate by revenue, leading several industries in the world. It is composed of numerous international businesses, all united under the Samsung brand, including Samsung Electronics, the world's largest electronics company, Samsung Heavy Industries, one of the world's largest shipbuilders and Samsung Engineering & Construction, a major global construction company. Samsung phones have been around for a long time in the Vietnam market. Product of Samsung mobile phones are divided into the categories of. Mobile phone : to suit all classes of consumers Samsung has created hundreds of different models with many eye-catching design diversity comes from basic features to advance. (a number of popular products such as C3520 E1170 E2230 ...) Smartphone: to keep position in the technology race and dominate the mobile market, Samsung launched the many kinds of smartphone with outstanding features. Many products of the new smartphone Samsung that are common within the consumers (S3 S4 Galaxy S2, Samsung Galaxy Note ...) Samsung customers:

Vietnam has 90 million people with diverse cultures, the unemployment rate in Vietnam is very low as 2-5% so power consumption goods in Vietnam are significant. GDP of VietNam is over $300. billion, 5,9% growth in 2011, 5 year compound annual growth 6,5%. Inflation: 18,7%GDP (GSO, 2011) Inflation in VietNam is lower than other countries in Asian. Therefore, the purchasing power of them will be low. So they can't buy expensive products of company.

(, 2013) Samsung future orientation:

- Response to the protection of the environment, Samsung has made some plans in stopping the greenhouse effect. For example: Samsung plans to reduce its GHG emissions intensity normalized by sales (metric tons of CO2 per KRW 100 million) by 50% until 2013 based on the level of 2008. Also, the company plans to reduce the GHG emissions by 24% - Samsung has always wanted to give consumers the best quality products. Samsung continuously strives to improve product quality, implementing numerous quality control checks. For example, workers are allowed to hold production at any time if a fault is identified. - Creating a new product, developing a new kind of mobilephone using converted energy or other kind of energy ( this was already done but the fact was it never actually applicable widely so it still not enough attraction and the using the electrical energy are still not really possible for most markets. So research a new type of energy applicable to the product may be the best way).

(1.2) Evaluate Samsung capability for planning its future market activity

(business note, 2013)

Tangible resources In an easy way to explain tangible means something real, which you can see, and that may include cash, land and building, and so on. Tangible resources are the easiest to identify and evaluate: financial resources and physical assets are identified and valued in the firms financial statements. Samsung will also aggressively expanding factories in Vietnam in the coming years. Corporation sources told the Korea Times that they are planning to invest about $ 2.2 billion since 2020 to enhance production in Vietnam. This cost will be the target for cutting production costs, transportation costs and delivery. Currently Samsung has factory producing cell phone in Yen Phong Industrial Zone, Bac Ninh province. Since 2009, after four years of implementation, the project reached a capacity of 11 million pieces / month, accounting for about one quarter of the total annual production of Samsung, create jobs for 24,000 workers, export revenues in 2012 expected reach over $ 10 billion. Samsung will invest another factory in Thai Nguyen with a capital of $ 700 million. (SamSungs homepage) Intangible resources Samsung has grown into one of the leading electronics companies in the world, specializing in business equipment and digital media, semiconductors, memory, and system integration solutions. Today the product and process advanced top quality Samsung has been recognized worldwide. Samsung has been in the VIETNAM than 10 years. Samsung when it comes to people we think of a giant in the field of electronics. VIETNAM people use a lot of products from the company's TV, washing machine, air conditioning; telephone ... Samsung has built a very good reputation in Vietnam. Samsung lends support to people and their communities in many different ways. Samsung current area of focus is on investing in teenagers' futures, through support of science education and creative thinking. Samsung encourages leadership; assisting children in low-income families by supporting educational infrastructure, supporting outstanding students and supporting programs that encourage family well-being. Human resources Latest Information from SEV, there are more than 33,000 employees working in Vietnams companies in which employees have a university degree accounted for 5.5%. More than 3,000 documents have been passed prequalification, waiting in the next round interview. But information from SEV said, maybe, this number did not meet the needs and in the next few months, will be the next recruitment. Samsung usually directly examine strict labor, they also require employees to be trained, it will not be simple for employment in its factories. Samsung Mobile is a great place to work. The employees enjoy a changing, fast-paced environment where they have the opportunity to make a contribution as soon as they join. Samsung still retain a dynamic culture and a small-entrepreneurial spirit. Employees of Samsung are driven to understand not only what's happening in our industry now, but what needs to happen next and how to anticipate what their customers will demand years from now. They value enthusiasm,

cooperation and working on revolutionary products that enhance consumers' lives and businesses. (1.3) Examine technique for organisational (Samsung) auditing and for analysing external factors that affect marketing planning There are plenty of technique that can be used for organizational auditing and analyzing the external factors that can affect the marketing planning of Samsung. However, I have pick out 3 most common techniques to analyze it. Those techniques were: SWOT analysis, STEEPLED analysis and Porter 5 forces analysis. 1. SWOT analysis is basically a method use for evaluate the strengths, weaknesses, opportunities, and threats. This information can then show us the competitiveness of the company in the market. 2. STEEPLED analysis is a method that widely used to analyze the macro environment and giving them the overview about it. The factors of this method include: Social, technology, economic, environment, political, legal, ethical and demographic. 3. Porter 5 forces are a framework to analyze the business and develop strategic plan. There are 5 forces that can influence that industry such as: Threat of new entrance, Supplier power, Buyer power, Threat of substitutes and competitive rivalries.


Advantages -SWOT analysis can be used and apply easily to any organization, organizational unit, individual or team. In addition, the analysis can support a number of project objectives such as evaluate the product, plans and goals. -Valuable information about your objective's chances can be gained by viewing each of the four elements of the SWOT analysis -strengths, weaknesses, opportunities and threats -independently or in combination. That is all the information needed and can be used for basic analysis of a company. A company has its strengths and weaknesses, from which we can infer the opportunities and threats based on factors surrounding the market, law, local culture....

Disadvantages A SWOT analysis is a subjective process, which produces a result that reflects the bias of the participants of the study. In addition, the analysis considers data that is available at a particular moment and may become outdated quickly. Thus the analysis may lead to business decisions based on unreliable or irrelevant data. SWOT analysis creates a onedimensional model in which each problem attribute is viewed as a strength, weakness, opportunity or threat. As a result, each attribute is seen to have only one influence on the problem being analysed. However, one factor might be both strength and a weakness. For example, locating a chain of stores on well-travelled streets that grant easy access to customers might be reflected in increased sales.

The Porter's Forces

However, the costs of operating high-visibility facilities can make it difficult to compete on price without a large sales volume Five The model is a strong tool form Inside-out strategy is ignored (core competitive analysis at industry competence) level It doesn't cope with synergies and It provides useful input for inter-dependencies within the performing a SWOT analysis portfolio of large corporations (parenting advantage) The environments which are characterized by rapid, systematic and radical change require more flexible, dynamic or emergent approaches to strategy formulation (disruptive innovation) Sometimes it may be possible to create completely new markets instead of selecting from existing ones Provides a simple and easy-touse framework for the analysis. Involves cross-functional skills and expertise. Helps to reduce the impact and effects of potential threats to your organization. Aids and encourages the development of strategic thinking within your organization. Provides a mechanism that enables your organization to identify and exploit new opportunities. Enables you to assess implications of entering new markets both nationally and globally. Users can oversimplify the information that is used for making decisions. The process has to be conducted regularly to be effective and often organizations do not make this investment. Users must not succumb to paralysis by analysis where they gather too much information and forget that the objective of this tool is the identification of issues so that action can be taken. Restrict who is involved due to time and cost considerations. This limits the techniques effectiveness as a key perspective may be missing from the discussions. Users access to quality external information is often restricted because of the cost and time needed to collate it. Assumptions often form the basis for most of the data used, making any decision made based on such data subjective.


Application to Samsung SWOT





Strengths Samsung has a wide product range, which allows them to grab ample market share from various markets. This allows Samsung to not only earn a high return but it also allows them to diversify their risk and failure. Samsung is a reputed name and many people are familiar with it around the world. Samsung account for around one fifth of South Koreas total exports, and it has grown to have a significant influence on not only the countrys economic development but also its media, culture and politics an impressive achievement for what was originally a small trading company specializing in groceries. (Whistle, 2013) Samsung has won many awards on its high quality products. Such as :The Innovation & design awards in Italy, IDEA in us (Samsung homepage, 2013) Samsung has the ability and resources to use the latest technology and offer new and exciting features frequently. Weakness Samsung does not charge high price for its products, therefore people often thinks the low price relate suppliers with low quality of materials. General perception supports that the higher the price, the higher the quality of products. Many Samsung products are not user friendly, therefore consumer often hesitate to switch to Samsung products even if the price and quality is exceptional. Samsung faces immense competition from new companies and online companies. High set up and operation cost for such a company. Opportunities

Samsung should make an active effort to offer unique products to customers, in order to grab more market share. Samsung could start creating softwares for their hardware devices and reduce outsourcing. Most of Samsung smart phone are using Androids OS, Samsung could create their own OS for their devices Samsung could open more stores to serve more customers both in city and the country side, there are many I stores in the world. Samsung should do the same. Samsung could offer additional services to retain existing customers and attract new ones. Increasing in the need for mobile phones, Samsung could exploit this need well. Threats Samsung has linked product lines, which means that if one product line fails due to its own reasons other product lines will also suffer. Samsung has set up production plants in low cost areas(Vietnam, India), which are subject to ample political and economic instability. These instabilities can have an impact overall company it the crisis gets unmanageable. Samsung is facing threats from many other low cost companies. Porters Five Forces model

(Michael E. Porter, 1979)

Suppliers: The bargaining power of suppliers is relatively limited as there are a number of suppliers in the market for consumer electronics. For instance, there are well over a thousand suppliers in South Korea and across the world for the kinds of parts that Samsung needs for making its electronic appliances. However, the fact that the suppliers make parts that are unique for each appliance maker gives the suppliers an advantage that is hard to ignore. The point here is that like in any other industry, the consumer electronics industry needs a wide network of suppliers for the vendors to function effectively. Hence, Samsung depends on its suppliers for timely delivery of the components and hence any disruption to the supply chain can be troublesome. Market Entry: The impact of Market Entry is high as Samsung has found it easy to enter markets where it desires to do business. For instance, Samsung has entered Chin and India, two emerging markets that provide the much needed volumes for its expanding business. The fact that Samsung has entered these markets with relative ease makes this a force that can be harnessed for the companys good. However, it might not be easy for Samsung to capture markets with ease as it has done previously because of the rise of protectionist tendencies in the wake of the global financial crisis. The rivalry from existing players is a factor that needs to be considered when deciding upon the market entry into foreign companies. This is something that Samsung needs to take into account when deciding upon its foreign market entry strategy. Power of Buyers: The power of buyers is indeed an element that is something of a mixed bag. This is because of the fact that the buyers have a wide variety of choices and a range of products to choose from. There are many models of mobile phones and other consumer electronics gadgets in the market and the buyers can easily switch to alternatives. Hence, the impact of this element on the company is a bit high. The bargaining powers of buyers are high since the market for consumer electronics is essentially a buyers market with so many players in the fray to sell consumer electronics to the consumers. This is reflected in the endless price wars that Samsung is engaged in with respect to the mobile phones and other electronic goods. However, the factor that is to Samsungs advantage is because buyers cannot switch brands immediately and they take their time to adjust and adapt and only when they are completely dissatisfied with the company do they switch brands. This is the decline of the so-called repeat customers when they lose faith in the brands ability to deliver the goods. Threat of Substitutes: The threat of substitutes is indeed high for a company like Samsung. Given the fact that the consumer durables market is characterized by intense competition with competitors introducing products similar to those of Samsungs with regular frequency, it is no wonder that the company needs to be on its toes to keep pace with the blistering pace of new products entry. The threat of substitutes is indeed high for Samsung given these facts and this is one element of the Five Forces that pose a significant threat to the company. However, the buyers who switch to the substitutes are the price conscious segment and those who prefer price over quality. Hence, this puts Samsung at an advantage over other competitors as the quality conscious customers stay loyal to the company. Tablet is a good example for product

replacement mobile phone. Tablets with calling features will not much different from a mobile phone with bigger screen. Today many people use both tablets and mobile phones. However, due to the size of tablets, it still cannot replace mobile phones totally Industry Rivalry: The impact of this element is certainly high because of the presence of other competitors like LG, Ben Q, Motorola and Nokia. The competition is so fierce and intense, particularly in the emerging markets like India, where the wars between these competitors are akin to the equivalent of cola wars between Coke and Pepsi. To give an example, both LG and Samsung spend huge amounts of money in India on sponsorship of sports events (cricket championships) and teams. Though the advent of these companies has certainly altered the landscape of sports partnerships, sometimes the rivalry is taken too far resulting in lot of bad blood between the rivals. STEEPLED In this section, I analyze the companys strategy by the STEEPLED analysis. Each of the elements of this framework is analyzed in detail. STEEPED components Social Application to Samsung Samsung operating many places across the world so they have to handle the culture diversity and learn about the lifestyle in each different region and consider what products will fit with each region. For instance, in Vietnam the Northern people and Southern people have different lifestyle and status. The north people are all about the status when in the South they are more about the functionality. Northern people earn 10 but only spend 1 while Southern people earn 10 and spend 11. Because of the nature in Southern part was about the entertainment and economic, when Northern on the others hand are about politics. So Samsung have to considers the different in lifestyle and potential to making the right move in the market, consider carefully which product should go to which market. Samsung also needs to know about the differences between urban areas and rural areas and its income before selling their products. Vietnam market with the tendency prefers smartphone over mobile phone so Samsung also needs to learn about the customers segments as well. The technological factors play a big role in the mobile phone business. They already have the modern technology and the product that can meet its requirement but due to the advance of technological world, Samsung still needs to pay attention at this part at all time. According to Samsung main website, they are now have been developing Cutting-edge technology to maximize the space and making the consumers more comfortable with their products. Samsung is famous for its ability to produce their own chips. Even Apple the strongest competitor still have to order chips from Samsung, Samsung also develop a product friendly with environment recently and they are still







doing the research in order to upgrade their product to be more friendly with the environment which can win the heart of anyone and any government. Samsung have to pay attention on the GDP and income per capita of the Vietnamese market and people because by looking at that figure Samsung can estimate the standard living of people in Vietnam. Then come up with different pricing strategy that can effect on the consumer attention. But Samsung also has learned about the inflation rates, tax rates or CPI of Vietnamese market. To Consider the fact about Vietnam current situation and Vietnamese people current state, whether they can afford the company product or not, the making plan on the how to encounter with this problem and how to making it better in the future. For example: according to the GSO the inflation rates of Vietnam recent years were: 6.52% in 2009, 11.75% in 2010, 18.13% in 2011, and 6.81% in 2012. By looking at this combine with the others sources of information we can know that the inflation rates are suffering the impact of the financial crisis and in 2012 the government have already balance it, which can be result in the increase in the consumption of people (CPI). According to the GSO, the CPI in mid- 2012 have raise above average for the last 3 years and this was a good sign telling Samsung that this Market is on the ways of gaining back their growth rates. The environment in Vietnam that can affect Samsung was the flood that can happen every year making it impossible for deliver the products and that time. So Samsung needs to acknowledge the flooding time and the place that usually suffer it. Making the backup plant for transportation or delivering schedule. Besides environmental factors, the weather does not affect much to the using of mobile phone in Vietnam as the other products The political central in Vietnam was the Capital city Hanoi. Most of the political activities are being run in this particular city so while develop their products Samsung also need to focus on this city and advertise here, making eventsetc. to gain the government support or attention. Recent years when Vietnam and Japan already in a close business relationship and even closer when Vietnam joined the WTO. Vietnam also uses the ODA funds of Japan so that also means the operation of Samsung in Vietnam are more and easier than it is before. Vietnam already opens up the market but the government is still a communist party so the government itself has a really big effect upon the market. Samsung need to pay attention and maintain the relationship with the government in case of any policy has been publishing that can effect on Samsung. In the mobile phone sectors the importing tax policy of mobile phone into Vietnam is still very high so Samsung still need to develop their product in the factory that they already have here better than importing and may be considering expand the mobile phones factory more. Samsung has created the comfortable working environment for their employees. Treating them with dignity and not only that they have also treated their employees fairly by allow the employees to have contribution, ideas or feedback to the company. Combine with trick training program,


clear promotion policy. Samsungs produce process are now have reduce the pollution putting out into the environment and they are more and more responsible by investing in research the friendly environment products/fuels that can protect not only people but also the environment as well. This is the divide into different segment or to be more specific: age, gender, incomeetc. These are the things that differentiate the customers of Samsung into different types that suitable for different products. For example, with age, young active people have the tendency modern design and fast, with good price. This people suitable with the Galaxy S3 products in the mobile phones sectors

Carry out organisational (Samsung) auditing and analysis of external factors that affecting the marketing planning in Vietnam (1.4)

Macro and micro marketing environment

Samsung VIETNAM status As I analysed above macro based on the analysis of The Porter's Five Forces and Steepled. SWOT 1.3 Vietnam, for South Korean corporate entities in general and for Samsung in particular, is an attractive investment environment. In the globalization process, Samsungs strategy is to centralize manufacturing to make management and cost savings more feasible and easier. Samsung invests in manufacturing complexes to manufacture and do business effectively and efficiently, and also to provide for our global supply chain. Vietnam is always one of the potential candidates for Samsung to consider in this aspect. The Samsung brand stands for qualities of innovation, change, discovery, self- expression, and excellence in performance. And these very same qualities are epitomized. Samsung is multinational company and has been active for long time in VIETNAM market, Samsung has strong infrastructure, skilled workers, experience management that has long time active in VIETNAM market. In addition the company is focused on market research. So, we can assess that Samsung has full capability to be able to control and build good marketing system. Using experience and incentives from VIETNAM's government for the Japanese company, Samsung does not have any difficulties to any factors such as ethic, political or legal in VIETNAM market. Samsung can use supplier, customers, media and company department to make the marketing organization better.

Marketing strategies

Marketing systems

Samsung has wide network distribution such as Head Agent Retail Consumer, strongly R&D, good information market research, strong brand image in mind and heart of VIETNAM consumer all of the factors can help Samsung crate good marketing planning and create good marketing system. Using experience human resource, skilled worker, management to control and develop the marketing system, it is really not a problem for Samsung Co. Marketing organization Samsung has always held the opening ceremony of the inauguration of the product or new branches to promote their product. Samsung also has a clear strategy to invest more in social work in Vietnam. Demonstrated that people see Samsung Vietnam is a great company and contribute to the country VIETNAM. addition, Samsung also held for the economics students to visit the manufacturing plant operations and introduce organizational structure of the company It is a review of the effectiveness of each element of the mix such as advertising, sale promotion and activities Before producing marketing planning Samsung should make the market research to ensure the criteria and requirement of the company such as price and sale level that should be made for example: supply and demand, customer attitude, the use of temporary price reduction, etcThe employees have responsibility to get the correctly information to ensure the plan or the market. A review of the state of each individual product (e.g. market health) and of the product mix as a whole should be made. Samsung should focus on detail and characteristic of their product to create clearly overview for their customer According to the information that have mentioned above Samsung can see the advantages of a marketing audit that should reduce the need for crisis management, identify the information needs and forces a formal process for people thinking.

Marketing function

(2.1) Assess the main barriers of marketing planning.

Barrier Confusing tactic and strategy

This referring to the misunderstanding between 2 concept tactics and strategy. The strategy here is about the global plan to reach the longterm goal while the tactics is a short-term plan

Isolation of the marketing function

Confusing marketing function with concept

Lack of in-depth analysis

Confusion between process and output

Lack of knowledge and skills

Lack of Systematic approach

This can be sometimes confusing because of the similarities between them although they may look different but the fact is they all have the common goals that are why they can be easily confuse. For example: Strategy is connected with customers while they come to the store and increase sales Tactic: offering location based mobile apps on top three platforms; provide more option for the customers. This is referring to the disconnected of the marketing department or marketing with others part of the company which result in the poor marketing planning and working because theres no connection between the company activities and the marketing activities. For example: the marketing department of Samsung does not work with any other department to promote the S4 when the market segment are for the low income people that only prefer C3510 This happen when the marketing concept being confuses with its function. It happen because of the concept of marketing that we thought is only about the advertising product or promoting brand image while the marketing function is much more than that. Its containing the promotion, pricing, financing, distributing, and information gathering.etc. many more which means much more complex than the concept. These happen when Samsung company conducts a plan and analyze the information not deep enough to making some reasonable consideration. Being easily deceived or misleading by that information or by the environment itself. The processes here were the ways of how things get done or how Samsung would have carried it or work it. When on the other hand output was the result of the process itself. We can understand it like this the first things we need was the input processoutput This was also referring to the information gathering systems or many others kind of systems that can be confuse with. This is about the Human resources of the Company (Samsung) when they are incapable of carry out the task due to the experiences that they have is not enough or the skills, knowledge they have not sufficient to carry out the task. This happen when the employees of the company are not well trained or not being verify thoroughly. In all Company or organization, they all need a system to control things from the inside or the procedures of how to carry out the worketc. without any specific procedure the work itself cannot be carry out due to the chaos in the that

Failure to priorities objectives

Hostile corporate culture

occur because it does not have any procedures and lets things work freely without control. The company objectives work as the guiding star for the company to follow without any objectives the company will not function because theres no specific aim to head to and no work was given due to the objectives not being priorities and making the loss and impact for the organization as well as the resources that require to complete that objectives. This is referring to the fight and disagreement that occur within the company. Making department and people incapable of working together as a whole but they begin to work alone and try to pull each other to the ground which can make the Organization suffer many losses.

(2.2) Examine how Samsung Vietnam may overcome barriers to marketing planning.

Barrier Confusing tactic and strategy

Isolation of the marketing function Confusing marketing function with concept

Lack of in-depth analysis

Confusion between process and output

Lack of knowledge and skills

How to overcome First, Samsung needs to develop a strategic plan then develops the lower level operational plan. The tactics need to be specify or directive and clearly demonstrate how the staff of the company will jointly achieve the strategy. Samsung needs to make the marketing related with the company departments and objectives, functions etc. so that the marketing can work effectively. Samsung need to look at the whole organization, not just some pure activities set only. But it need to be market-focused, relating to many activities and work in the organization itself. Avoid the confusing between these 2 and to be able to do that Samsung need to clarify these 2 and take a look at the real function and activities that it carry outs not just doing things according to the concept. Samsung should analyze the information related to the market deeply, also analyze their plan to penetrate the market or deliver new products deeply because it can assure that all the risks, opportunities.etc. are being consider and it actually a plan that already being taking many consideration and can work thoroughly. In other words, making an effectives marketing audit to get to know the market, their current stateetc. In order to avoid the confusion in this factors. Samsung needs to clarify the characteristics of these components. For example: with the SWOT analysis, the information that Samsung can gather was the input, the step to process those information and characterize is the process and the last one was the final analysis which was the output. Samsung need to get their eyes on the staff, making sure that the

Lack of Systematic approach

Failure to priorities objectives

Hostile corporate culture

employees are qualified to handle their position. The qualified part need to be done closely and good. Then the training program needs to be conduct and analyze thoroughly so that the Employees can actually gain and be better after the training programs. Ensure that the people related to the business have the knowledge and skills to handle the task. In order to prevent this, Samsung needs to conduct a set of written procedures that cover all issues in all areas of the business. Therefore the control and authorities, function Of each department, people.etc. of the company are being control and worked systematically. Samsung needs to analyze the impact of those objectives and then evaluate them. What will be the resources that its require, how bad was the impact of them? Then making some adjustment in the company function that makes sure it works according to the objectives and follow it. First the employees need to participate in the company works and support the leaders. Then the leaders itself needs to motivate and tells the things out with the staff so that they can work together without any hostility.


Class Notes Samsung Co., Ltd.. (2012). Samsung annual report. Available: e_y=1345088912750063402401&ich_t_y_p_e=1&ich_d_i_s_k_i_d=9&ich_u_n. Last accessed 31st Dec 2013. Michael E. Porte. (1979). Porter's Five Forces. Available: Last accessed 31st Dec 2013. Phillip Kotler. (2010). Marketing 3.0. Available: Last accessed 31st Dec 2013. Richard T. Pascale. (1984). Perspectives on Strategy: The Real Story Behind Honda's Success. Available: Last accessed 31st Dec 2013.