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From the four selections below, identify which are necessary to develop the value chain of a...

Question:

From the four selections below, identify which are necessary to develop the value chain of a product or service:

1. Process

2. Departments

3. Nonvalue-adding activities

4. Value-adding activities

(select one):

a. 1 and 3

b. 2 and 4

c. 1 and 4

d. 1 and 2

Value Chain:

The value chain of a product or service depicts the processes followed in an organization to add value at each stage of the product development or the service delivery. The framework consists of two components:

  • Primary Activities (including inbound logistics, operations, outbound logistics, marketing and after-sales service)
  • Support Activities (including technological support, infrastructure, human resource management, etc.)

Answer and Explanation:

The value chain is used to analyze the processes view of adding value at each stage of the product development or service delivery by an organization....

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What Is a Value Chain? - Definition, Analysis & Example

from Principles of Marketing: Help and Review

Chapter 2 / Lesson 9
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