MT 450 PUG Marketing Management Value Chains Discussion
Description
Value Chains
Over the last several weeks, you learned about competitive strategies. Michael Porter suggests that marketing managers should pay close attention to value chains ®bsp;a network of value-creating activities. There are five primary value-creating activities and four support activities.
The primary activities include inbound logistics, operations/manufacturing, outbound logistics, sales and marketing, and customer service. Consider a fictional example of Mikeænbsp;Bikes, an online bicycle organization in Anytown, USA. Inbound logistics involve receiving, storing, and disseminating inputs to products. Mikeænbsp;Bikes acquire bicycle parts from several manufacturers. The second primary activity in the value chain is operations and manufacturing, transforming inputs into final products. For this step, Mikeænbsp;Bikes assemble the parts from the manufacturer to produce a bike. Activity three in the value chain is outbound logistics, which includes collecting, storing, and physically distributing products to the buyers. In this phase, Mikeænbsp;Bikes ship the bicycles to their customers. The fourth primary activity includes sales and marketing, inducing buyers to purchase products and providing a means for them to purchase. Mikeænbsp;Bikes frequently uses digital marketing and social media to accomplish this task. The final primary activity is customer service, which assists customers®bsp;in using the products. Mikeænbsp;Bikes provide 24/7 customer support.
The four supporting activities in the value chain include procurement, technology, human resources, and infrastructure. For procurement, Mikeænbsp;Bikes should manage supplier relationships. For technology, investigate new designs for bikes. Human resources need to hire and support employees. Lastly, Mikeænbsp;Bikes should manage company resources for infrastructure (Kroenke & McKinney, 2013).
According to Tim Sobierski at Harvard Business School (2020), there are three major steps involved with value chain analysis: (1) Identify all the steps or activities in the process of creating a product or deliver a service; (2) determine how what is produced or created by the company creates value for the customer in terms of quality, utility, what they need and want, and is it financially possible and profitable; and (3) analyze the steps in the companyænbsp;value chain to determine whether each step is the most efficient for achieving company goals in a competitive market.
Respond to the following:
- Provide an example of a value chain similar to Mikeænbsp;Bikes.
- Identify three value chain goals for your example.
Reference
Sobierski, T. (2020, December 03). Understanding the value chain. Harvard Business School Online. https://online.hbs.edu/blog/post/what-is-value-cha…
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Preview Rubric: MT450 Journal Rubric – MT450 Marketing Management – Purdue University Global
MT450 Journal Rubric
Course: MT450 Marketing Management
Criteria
Criterion 1 (100%)
– Journal Posting
Level III Max Points
20 points
Level II Max Points
17 points
Level I Max Points
12 points
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0 points
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criterion:
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criteria.
Responds to
all the journal
prompts in a
substantive
manner with
a correct or
viable
response.
Posts a
minimum of
250 words in
their
response.
Post has
correct
grammar and
spelling.
Responds to
all the journal
prompts in a
substantive
manner with
a correct or
viable
response.
Posts a
minimum of
250 words in
their
response.
Post has
correct
grammar and
spelling.
Total
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Criterion Score
/ 20
Responds to
all the journal
prompts in a
substantive
manner with
a correct or
viable
response.
Posts a
minimum of
250 words in
their
response.
Post has
correct
grammar and
spelling.
/ 20
1/2
11/8/22, 5:47 PM
Preview Rubric: MT450 Journal Rubric – MT450 Marketing Management – Purdue University Global
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Level III
Level II
Level I
Not Present
17.001 points minimum
12.001 points minimum
0.001 points minimum
0 points minimum
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