Name and discuss the six sources of economic benefit and value creation

What will be an ideal response?

(1 ) Price Paid — The price or payment terms can destroy customer value. A product may offer an excellent customer solution, but its price can be too high relative to the benefits provided.
(2 ) Acquisition Costs — Acquisition costs are part of the total life-cycle cost. These are costs associated with securing the product, not actual product costs.
(3 ) Usage Costs — Costs associated with the actual usage of the product. A product that will eliminate or significantly reduce costs that customers presently incur has a substantial economic value.
(4 ) Ownership Costs — Products with high ownership costs are typically expensive items that buyers finance and insure. The interest and premiums account for the high ownership costs.
(5 ) Maintenance Costs — Products with good performance records may cost more to buy but will have a lower overall cost.
(6 ) Disposal Costs — By reducing or eliminating a customer's disposal costs, a business creates economic value in the product.