Final answer:
The element of total logistics cost from the given options is C. Inventories, which include the costs associated with maintaining and managing stock levels.
Step-by-step explanation:
The element of total logistics cost among the options provided is C. Inventories. Total logistics cost encompasses various components related to the movement, storage, and processing of goods. These typically include transportation costs, warehousing costs, inventory carrying costs, order processing costs, and administrative costs associated with the logistics function.
Inventories are significant because the cost of carrying or holding inventory includes storage costs, insurance, spoilage, obsolescence, and opportunity cost of capital. The other options, such as new product development, advertising, personal selling, and market research, are not direct elements of logistics cost but rather functions of marketing and product management.
The concept of total landed cost refers to the comprehensive cost associated with a product from its initial production or purchase to its final delivery or destination. It includes not only the direct costs of production and logistics but also additional expenses such as transportation, customs duties, taxes, tariffs, insurance, handling fees, and any other costs incurred during the process. Total landed cost takes into account both the cost of the product itself and all the costs associated with getting it to the desired location or market.