Which of the following statements regarding the value chain is true? The concept of a value chain applies to manufacturing and merchandising companies, but not to service companies A technical support hotline for customers is part of the production element of the value chain. The shipping costs incurred to deliver goods to customers are part of the marketing element of the value chain The freight-in costs incurred by a retailer to transport merchandise from suppliers to its store are part of the purchases element of the value chain The cost of running television advertisements during major sporting events is part of the distribution element of the value chain