Which of the following is essential for a good value chain management?
A) The materials management function should hold greater inventories in order to increase costs.
B) The marketing function should define business in terms of customer needs rather than the type of products.
C) The production function should locate customers and persuade them to buy the company's products.
D) The sales function should control the movement of physical materials from the procurement of inputs to delivery to the customer.
E) The customer service function should focus on offering high-quality products at higher prices.

Question

Quizplus · Accepted Answer

Value chain management involves understanding and optimizing all aspects of the process of delivering a product or service to customers. The marketing function defining business in terms of customer needs is essential for identifying the target market, creating a product or service that meets their needs, and effectively promoting it to them. Holding greater inventories, locating customers, controlling the movement of physical materials, or offering higher prices do not necessarily contribute to effective value chain management.

Which of the Following Is Essential for a Good Value