Marketing-JAIBB Short Notes-Value Chain

The value chain describes the full range of activities that firms and workers do to bring a product from its conception to its end use and beyond. This includes activities such as design, production, marketing, distribution and support to the final consumer.

The activities that comprise a value chain can be contained within a single firm or divided among different firms. Value chain activities can produce goods or services, and can be contained within a single geographical location or spread over wider areas.

In other words, Value chains are an integral part of strategic planning for many businesses today. A value chain refers to the full life cycle of a product or process, including material sourcing, production, consumption and disposal/recycling processes.