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Home→The Westburn Dictionary of Marketing→V→value chain

value chain

Definition:
A concept which recognises that there is a continuous link or chain right the way through from the extraction of raw materials to the provision of post-purchase services. Value is added at each stage of the value chain and a major consideration in strategy formulation is to identify where and how value is added as this constitutes a potential source of competitive advantage.

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].