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BPL Chapter 3 Exam | Questions And Answers Latest {} A+ Graded | 100% Verified
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BPL Chapter 3 Exam | Questions And Answers Latest {} A+ Graded | 100% Verified
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BPL Chapter 3 Exam | Questions And Answers Latest {2024- 2025} A+ Graded | 100%Verified
Value Chain Analysis - views the organization as a SEQUENTIAL process of value-creating activities. it's
useful for understanding the building blocks for competitive advantages
Value - the amount that buyers are willing to pay for what a firm provides them and is measured by total
revenue
- it's a reflection of the price a firm's product commands and the amount that it can sell
'a firm is profitable' which means..? - value it receives that exceeds the total costs involved in creating its
products and services.
- creating value for buyers that exceeds the costs of production (margin is a big example)
- it's another key concept that's used to look into the firm's competitive advantage
what are the two different categories of activities? - primary activities and support activities
primary activities - inbound logistics, operations, outbound logistics, marketing and sales/services.
- it contributes to the PHYSICAL creation of the product/service
- its sale and transfer to the buyer and its service after the same.
support activities - procurement, technology development, human resource management and general
administration
- they either add value by themselves or add value through important relationships with both primary
activities and other support activities
what are the categories for primary activities? - 1. inbound logistics
2. operations
3. outbound logistics
4. marketing and sales
5. services
, inbound logistics - FALLS IN PRIMARY
- it's connected with receiving, storing and distributing inputs to the product
- has to do with material handling, warehousing , inventory control, vehicle scheduling and return to
suppliers
- JIT is designed to achieve efficient inbound logistics
operations - FALLS IN PRIMARY
- includes all activities connected with transforming inputs into the final product form.
- machining, packaging, assembling, testing, printing and facility operations.
outbound logistics - FALLS IN PRIMARY
- connected with collecting, storing and distributing the product or service to buyers.
-these activities can include finished goods, warehousing, material handling, delivery vehicle operations,
order processing and scheduling
marketing and sales - FALLS IN PRIMARY
- connects with purchases of products and services by end users and the inducements used to get them
to make purchases
- advertising, promotion, sales force, quoting, channel relations, and pricing
service - FALLS IN PRIMARY
- includes all actions associated with providing services to enhance or maintain the value of the product
- installation, repair, training, part supply and product adjustment
product placement - - connected with marketing and sales,
- it's a marketing strategy that firms use to increasingly use to reach customers who are not swayed by
traditional advertisement.
what are the four generic categories of support activities? - 1. general administration
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