Samsung plans $14bn promo
November 28, 2013
Samsung Electronics is expected to spend up to $14 billion on advertising and marketing this year. And the Korean company, which has a market cap of $227 billion, has made no secret of keeping up its aggressive marketing and promotion as it seeks to make its brand as aspirational as Apple’s.
Samsung spends a bigger chunk of its annual revenue on advertising and promotion than any other of the world’s top 20 companies by sales: 5.4 per cent, according to Thomson Reuters data. Apple spends just 0.6 per cent, and General Motors 3.5 per cent.
Samsung told Reuters it will “continue to leverage our brand power to maintain growth momentum, while focusing on optimising the efficiency of our marketing activities,” reiterating recent comments by its co-CEO.