Q1. What is the Value Chain?
Q2. Identify and discuss briefly three (3) Cost Drivers that may impact the costs incurred in the airline.
A value chain is a company model that breaks down the flow of production activities into five categories with each category helping the company to maximize efficiency and create a competitive advantage. The aim of the value chain is to increase profits by creating value at each of the five product touch points so the value exceeds the cost associated with the product.
Answer and Explanation:
Value Chain and Cost Drivers
1. A value chain is a high-level model developed by Michael Porter used to describe the process by which businesses...
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from Principles of Marketing: Help and ReviewChapter 2 / Lesson 9