Question

In less than 250 words explain the value and exchange process in Samsungs marketing plan

Answer 1

Samsung creates economic (Maximise profit and shareholder value by products and services) and social (contributing to sustainable society) value. The value and exchange process begins with the innovation embedded by Samsung into the corporate culture while creating synergies by utilizing external resources to serve the ever-changing customers. At Samsung, they strive to formulate social and environmental values as well as business values through their sustainability management to provide for the betterment of the global society. Since such social and environmental assessments are difficult to quantify, they took a ‘quality over quantity’ method in setting and achieving our sustainability management goals.

By following local laws and statutes as well as applying a severe global code of conduct to all workers. It believes that ethical administration is not only a tool for reacting to the rapid changes in the global industry environment but also a means for establishing a value for its various stakeholders including customers, stockholders, employees, business associates and local communities.

The combined research framework, connecting resources, and competencies of the supplier and customer was established to analyze the value co-creation phenomenon. The new value co-creation can be spread to the early steps in the value chain, such as the research and development (R&D) platform, in the tech-rich B-to-B market, whereas existing value research was extra focused on the late stages of the value and exchange process.