The following are the instructions for Group Activity 6
Please refer to the slides on Managing the Value Chain for reference (we will have this discussion on Wednesday) Group Activity 6 Value Chain Analysis For products, it is easy for us to justify the prices we pay for (e.g. brand recognition, associations with quality, durability, etc., brand loyalty, and the like). But for services, it is more difficult for us to justify the prices we pay for, since for the most part, services are one-time experiences with no tangible benefits. 1) Consider the last time you went to watch a movie in the cinema, a live concert or showcase, a live appearance (fan meet and greet, autograph signing, red carpet premier, etc.) a theater play, or a live musical. What was it? Why did you do so? Where did you watch it? What were the factors that made you decide to actually go and watch it, instead of say, watching it on a DVD or over the Internet? 2) Among these factors, rank them accordingly to which was the most influential in your decision to go and in your justification in the price that you paid and the effort that you exerted. Explain briefly your ranking. 3) Was there any negative factors or weaknesses that made you regret or think twice regarding doing what you did and paid that much? Give suggestions on how to address these negative factors or weaknesses.