Differentiate between value and margin.
7) Describe using an example, the primary activities in a value chain.
8) What is a value chain? List the primary activities in a value chain.
a. In-bound logistics-which deals with receiving, storing, and disseminating inputs to the product
b. Operations-which involves transforming inputs into the final product
c. Out-bound logistics-which deals with collecting, storing, and physically distributing the product to buyers
d. Marketing and sales-which involves inducing buyers to purchase the product and providing a means for them to do so
e. Customer service-which involves assisting customer's use of the product and thus maintaining and enhancing the product's value
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