1. What is value-chain analysis? What role does it play in strategic cost analysis? 2. What is an industrial value chain? Explain why a firm’s strategies are tied to what happens in the rest of the value chain. Using total quality control as an example, explain how the success of this quality management approach is dependent on supplier linkages. 3. What are the three viewpoints of product life cycle? How do they differ? 4. What are the four stages of the marketing life cycle? 5. What are life-cycle costs? How do these costs relate to the production life cycle?