EBK MARKETING
6th Edition
ISBN: 9781259898884
Author: Grewal
Publisher: YUZU
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Chapter 15.4, Problem 1PC
Summary Introduction
To determine: The
Introduction: Marketing is an art in which a seller sells its goods and services to its customer. Marketing has the four important elements which are a product, price, place, and promotion.
Expert Solution & Answer
Explanation of Solution
A marketing channel can be explained as follows:
- Customer to store: Sometimes customers buy the goods and services from a store which is at near location. Customer saves his time by purchasing the goods and services from a nearby store.
- Store to buyer: Buyer is the end user of the product. A buyer purchases the goods and services from his near store and consume.
- Buyer to the manufacturer: A buyer can purchase the goods directly from the manufacturer because the manufacturer can provide goods at a cheap rate to the buyer. A buyer can get goods manufactured according to his wish.
- Store to the manufacturer: There is a number of goods which cannot be supplied directly to the customer and buyer such as bread, electronic items and other also. These goods are supplied through a supply chain such as agent, brokers, and retailers.
- Store to distributer: The manufacturer produces the products and keeps them preserved in the store from where goods are distributed through the agent, retailer, and brokers. Middleman sales the goods to the customer and buyer.
- Manufacturer to distributer: Sometimes the manufacturer produce the goods and from the manufacturing place, goods are directly sent to the distributors. The distributor provides the information related to the goods to the manufacturer.
Conclusion
Thus, the information flow in the marketing channel is in the manner as explained above.
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If you were starting a business, what would you like to do?
Please briefly explain each of the below.
1. An overview of your business idea (one or two sentences).
2. A description of your product and/or service. What problems are you solving for your target customers?
3. Your goals for the business. Where do you expect the business to be in one year, three years, five years?
4. Your proposed target market. Who are your ideal customers?
5. Your competition and what differentiates your business. Who are you up against, and what unique selling proposition will help you
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6. Your management team and their prior experience. What do they bring to the table that will give your business a competitive edge?
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