Logistics Question for Discussion and Review. Management Coursework (Coursework Sample)

Logistics Question for Discussion and Review
[Student’s Name]
[Institution]
[Subject]
[Date]
1.1 Did it surprise you that logistics has such an important economic impact? Why or why not?
Based on the content presented in the text, it is quite apparent to note that logistics forms an integral part in boosting the sustainable economic development of most nations in every corner of the globe. Ideally, logistics plays an essential role in the determination of a country’s GDP. As captured in the textbook, logistics can influence economic growth and development of a nation by 10%. Besides, logistics can also affect the potential consumers of a product or service in the form of utility.
1.2 Distinguish between possession, form, time, and place utility.
Possession utility is defined as the value of a customer and his/her authority to take absolute possession of a product or service. Form utility is understood based on a product being of great value and useful to the potential customer. Place utility refers to making the product or service available to a potential consumer to a point where a customer can access it.