Below are the general steps it takes to create a value chain analysis: Determine the business’ primary and support activities. Analyze the value and cost of the activities. Identify opportunities to gain a competitive advantage. Inbound Logistics. Operations. Outbound Logistics. Marketing and Sales. Services. Click to see full answer. Just so, what is service in value chain?A value chain is a set of activities that a firm operating in a specific industry performs in order to deliver a valuable product (i.e., good and/or service) for the market.Secondly, what are the key elements of your company’s value chain? Porter identified four supporting factors in a value chain: Infrastructure, human resources, technology development and procurement. Infrastructure and technology development essentially relate to build-up and development of buildings, equipment, supplies and technology to support ongoing business activities. Keeping this in view, why do companies use the value chain analysis? Value chain analysis is a strategy tool used to analyze internal firm activities. Its goal is to recognize, which activities are the most valuable (i.e. are the source of cost or differentiation advantage) to the firm and which ones could be improved to provide competitive advantage.What is an example of a value chain?The activities associated with this part of the value chain are providing service to enhance or maintain the value of the product after it has been sold and delivered. Examples: installation, repair, training, parts supply and product adjustment.