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.Please no plagrism nothing that was send to someone before.Running head: VALUE CHAIN ANALYSIS Value Chain AnalysisStudent’s NameInstitutional Affiliation 1 VALUE CHAIN ANALYSIS 2Value and its importance Value is the worth of all the benefits that…