itss3300 ch2
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6 Terms
Q: How does Porter define “value”?
A: The amount a customer is willing to pay for a resource, product, or service.
Q: What is “margin”?
A: Value generated – cost of activity.
Q: What is a value chain?
A: A network of value-creating activities (primary + support).
Q: Name Porter’s five primary value chain activities.
A: Inbound logistics, operations, outbound logistics, sales & marketing, customer service.
Q: What are value chain support activities?
A: Procurement, technology development, HR, firm infrastructure.
Q: Difference between inbound and outbound logistics?
A: Inbound = sourcing & receiving materials; Outbound = delivering finished products to customers.
