Assignment

In order to beat your competition, you must create value for your customers. If a customer perceives that your product or service has value, then they will make a purchase. Answer the following questions about the nature of value:

• What is value? Why is it critical for a firm to create value? How does it do so?
• What is value chain analysis? What does the firm gain when it successfully uses this tool?
• When creating value for a customer, why is product differentiation so important?

Your paper should be 1-2 pages in length