I have written three programs first two program are working as it supposed to do but i don't understand what's happening in last program

Program 1

Code:
 #include<stdio.h> 


#define value   'A'


int main()
{
    printf(" %c \n", value );	
	
	return 0;
}
A

Program 2
Code:
 #include<stdio.h> 


#define value   1


int main()
{
    printf(" %d \n", value );	
	
	return 0;
}
1


Last program

Code:
 #include<stdio.h> 

#define value   "A"


int main()
{
    printf(" %c \n", value );	
	
	return 0;
}
d



Why program print d instead of A? What does value store in a program A or d?