in your opinion ! What is the Differences between in the VALUE CHAIN (Virtual and traditional)...

in your opinion ! What is the Differences between in the VALUE CHAIN (Virtual and traditional) ? 100 Words Please

Expert Solution

Value is defined by the utility extracted from a product or service against the cost of it. So value is the prime product or service that any company is selling to run the business.
Now value chain is a set of activity by which any company used to deliver the value to his customer. it can be done in two way. One is physically and another is virtually.

Physical value chain: When the value is provided to the customer through a physical channel then that is called physical value chain. Here physical product is delivered in terms of value. the steps of physical value chain is,
Inbound logistic
Production
Outbound logistic
Marketing
Sales

Virtual value chain: It is the back end backup of physical value chain system. To execute physical value chain any company needs to have proper information about their customers' need and satisfaction by using their products. So, in virtual value chain system, the value is transferred to the customer virtually.

Rahul Sunny answered 1 year ago

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