"Aviation Value Chain"
Economic Utility and the Value Chain Marketing Roseville Area High School Utility – The value that a business adds to a product QuickTime™ and a decompressor are needed to see this picture. Form Utility Changing raw materials or putting parts together to make them more useful. Zipper, thread, cloth jacket Place Utility Having a product where customers can buy it. Retailers, internet, outlet malls, catalogs QuickTime™ and a decompressor are needed to see this picture. Time Utility Having a product available at a certain time, when customers want it. 24 hours, holidays QuickTime™ and a decompressor are needed to see this picture. Possession Utility Exchanging a product for some monetary value (alternatives to cash) Plastic, extending credit, buy now pay later QuickTime™ and a decompressor are needed to see this picture. Information Utility Communication with the consumer. Displays, packaging, web sites QuickTime™ and a QuickTime™ and a decompressor decompressor are needed to see this picture. are needed to see this picture. How do the following businesses add value to their materials (inputs)? Revlon states that they do not test their products on animals Wells Fargo locations in Cub foods Dentist office open on Saturdays A car dealership with 0% financing Turkey store now has taco-flavored meat Key Concept Businesses add value to materials through a value chain of activities. The role of business in society is to add value to materials. Customers pay for the VALUE that the business adds to the materials. Review: What are the 5 types of utility (value) that businesses can add to materials? Economic utility (value) is added at each step in the value chain. Value Chain VALUE CHAIN – The process a business uses to transform materials into products that have value for customers. If you have a job: What place do you have in the value chain? How do you add value to materials for your business? Draw the value chain for your business (list in order each activity that adds value). Is there anyone in your business who is NOT directly in the value chain? What does this have to do with marketing? Aviation Weather.gov How does this government service add: Form utility Place utility Time utility Possession utility Information utility