Marketing Blog #2

Building a value chain is something that any business must do if it plans to be successful.  Things that contribute to this value chain in no particular order are speed, quality, and price.  These three things can single handedly increase or decrease the value perceived by the customer.  Virutal value chains are provided by minimizing error rates, cutting transaction costs, and cutting cycle time for products.  Intergrating business processes is also very important becuase it allows your business to store all its financial data in a single system, rather than many systems.  This also helps with the automation and integration of all internal systems.  Lastly many businesses are moving towards being paperless, which will not only decrease their costs, but its environmentally friendly too.