What is a supply chain? How do companies use supply chains to manage daily operations?

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What is a supply chain? How do companies use supply chains tomanage daily operations?

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Supply Chain Whereas marketing channels connect the marketer to the target buyers the supply chain describes a longer channel stretching from raw materials to components to final products that are carried to final buyers For example the supply chain for womens purses starts with hides tanning operations cutting operations manufacturing and the marketing channels that bring products to customers This supply chain represents a value delivery system Each company captures only a certain percentage of the total value generated by the supply chain When a company acquires competitors or moves upstream or downstream its aim is to capture a higher percentage of supply chain value Marketing people are involved in marketing 10 types of entities goods services experiences events persons places properties organizations information and ideas Goods Physical goods constitute the bulk of most countries production and marketing effort The United States produces and markets billions of physical goods from eggs to steel to hair dryers In developing nations goods particularly food commodities clothing and housingare the mainstay of the economy Services As economies advance a growing proportion of their activities are focused on the production of services The US economy today consists of a 7030 servicestogoods mix Services include airlines hotels and maintenance and repair people as well as professionals such as accountants lawyers engineers and doctors Many market offerings consist of a variable mix of goods and services Experiences By orchestrating several services and goods one can create stage and market experiences Walt Disney Worlds Magic Kingdom is an experience so is the Hard Rock Cafe Events Marketers promote timebased events such as the Olympics trade shows sports events and artistic performances Persons Celebrity marketing has become a major business Artists musicians CEOs physicians highprofile lawyers and financiers and other professionals draw help from celebrity marketers Places Cities states regions and nations compete to attract tourists factories company headquarters and new residents5 Place marketers include economic development specialists real estate agents commercial banks local business associations and advertising and public relations agencies Properties Properties are intangible rights of ownership of either real property real estate or financial property stocks and bonds Properties are bought and sold and this occasions a marketing effort by real estate agents for real estate and investment companies and banks for securities Organizations Organizations actively work to build a strong favorable image in the mind of their publics Philips the Dutch electronics company advertises with the tag line Lets Make Things Better The Body Shop and Ben Jerrys also gain attention by promoting social causes Universities museums and performing arts organizations boost their public images to compete more successfully for audiences and funds Information The production packaging and distribution of information is one of societys major industries6 Among the marketers of information are schools and universities publishers of encyclopedias nonfiction books and specialized magazines makers of CDs and Internet Web sites Ideas Every market offering has a basic idea at its core In essence products and services are platforms for delivering some idea or benefit to satisfy a core need Supply chain See Answer

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