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Value Chain Definition

value chain – n : the series of steps by which value is created for a given product or service. For instance, value chain may include “value-added stages” such as original invention, product design and development, manufacturing/production, branding/marketing, distribution and sales, warranty service, and after-market service. When planning a new business, it is useful to understand and carefully analyze the value chain for your product or service, in order to thoroughly understand the types of companies or “players” who serve each function or “link” in the chain, and how much each link or function in the chain gets paid and by whom. (see also: margin structure)

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Adapted from "The CompanyCrafters Entrepreneur's Dictionary"
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