A value chain analysis is not so important for a firm in monitoring whether its prices and costs are competitive.

Question

Quizplus · Accepted Answer

A value chain analysis involves examining all the activities a firm undertakes to produce a product or service, from raw material acquisition to final delivery to customers. It helps a firm to identify areas where it can reduce costs or increase value, including pricing strategies. Therefore, a value chain analysis is important for a firm in monitoring whether its prices and costs are competitive.

A Value Chain Analysis Is Not So Important for a Firm