The Marketing Value Chain is a concept used to illustrate the complete path of value created by marketing activities. It starts with the identification of target customers and segments, moves through development of various marketing initiatives, and involves tracking how well those initiatives work together over time. At its most basic level, it is the way companies organize their marketing operations so that they can maximize their returns from each activity. By understanding the entire chain and aligning activities accordingly, companies are better equipped to identify market share opportunities, segment markets for targeted profitability, anticipate customer needs, and create more effective marketing strategies.