String of activities that moves a product from the raw material stage through manufacturing and distribution, and ultimately to the end user is called:

Correct option is C

A value chain refers to the full range of activities that businesses conduct to bring a product or service from conception to delivery, and even beyond (such as after-sales support). This concept was introduced by Michael E. Porter in his 1985 book "Competitive Advantage". The value chain includes both primary activities (like inbound logistics, operations, outbound logistics, marketing and sales, and service) and support activities (like procurement, technology development, human resource management, and firm infrastructure).

In essence, every step that adds value to a product—from sourcing raw materials, processing them, packaging, transporting, and selling to end-users—constitutes the value chain. Efficient management of the value chain leads to cost advantage or differentiation advantage, helping a firm to achieve competitive superiority.

Information Booster:

• Michael Porter’s Value Chain Model classifies activities as primary and support, with the goal of increasing customer value.

• Helps organizations identify value-creating and non-value-creating activities.

• Value chain analysis helps in strategic decision-making for improving operational efficiency.

• Plays a vital role in cost control and product differentiation strategies.

• Common in industries such as manufacturing, retail, FMCG, and logistics.

• Helps firms achieve sustainable competitive advantage.

• Also applies to service industries where intangible services are "produced" and "delivered".

Additional Knowledge:

(a) Business model:
A business model describes how a firm creates, delivers, and captures value economically, socially, and culturally. It outlines how the company makes money, not the operational activities involved in production and delivery.

(b) Business verticals:
Business verticals refer to distinct market segments or industry sectors within which a firm operates, such as healthcare, finance, or education. It does not refer to the sequential process of product transformation and delivery.

(d) Business concept:
A business concept is a broader idea that includes a product or service and a plan for its success in the market. It represents an entrepreneur's idea and market opportunity, not the chain of activities transforming raw materials to end products.