Deck 9 - Lecture 10

Question 1

what are the 4 ps *

Answer 1

product
place
price
promotion

Question 2

what are the 4 ps for *

Answer 2

the marketing mix

Question 3

what is the marketing mix *

Answer 3

the 4 ps

Question 4

challenges of channel management (place)

Answer 4

providing customer satisfaction, finding balance between optimising customer satisfaction and making adequate roi

Question 5

functions of marketing channels (supply chain) *

Answer 5

creating utility, 
facilitating exchange efficiencies,
alleviating discrepancies,
standardising transactions,
providing customer service

Question 6

explain function of marketing channels ‘creating utility’

Answer 6

getting products at the right place at the right time and of the right form (ikea is different for example)

Question 7

explain function of marketing channels facilitating exchange efficiencies

Answer 7

when not possible to sell directly to customer provides a solution,
intermediaries can cut costs of exchange by performing services/functions efficiently

Question 8

explain function of marketing channels alleviating discrepancies

Answer 8

deal with large stocks of products by allocating stock and sorting it,
few customers want to buy 10,000 pairs of jeans so with intermediary gets people what they want

Question 9

explain function of marketing channels standardising transactions

Answer 9

limit customer options on price, packaging size etc (example would be sliced bread you cannot ask for it to be cut differently),
customers still offered choice but standardised choice

Question 10

explain function of marketing channels providing customer service

Answer 10

in both mature and emerging markets,

customer service through a channel member can add value (essential in tyre industry, need garages to promote well)

Question 11

conventional marketing channel structure

Answer 11

manufacturer -> wholesaler -> retailer -> consumer

Question 12

example of hybrid marketing channel structure

Answer 12

selling online because manufacturer can sell directly to consumer

Question 13

example of channel integration

Answer 13

BP owns oil rigs and petrol stations so has control over the whole process

Question 14

influences on channel strategy - choosing distribution channels

Answer 14

specific intermediaries,
market,
product characteristics,
environment

Question 15

behaviour of channel members

Answer 15

channel conflict (is another card explaining)

Question 16

example of channel conflict

Answer 16

farmers and major supermarkets trying to get more money

Question 17

what does place mean for 4 ps

Answer 17

how where and when to make goods available to customers

Question 18

what are the options for place

Answer 18

manufacturers can sell direct to end user or can use wholesalers, retailers (may use mix of routes)

Question 19

why are channel decisions so crucial

Answer 19

determine products market presence,
affect customer satisfaction,
long term commitments (easier to change price or packaging than existing distribution systems

Question 20

what is an example of direct customer/supplier marketing (place 4ps)

Answer 20

direct line

Question 21

example of way of incentivising channel members *

Answer 21

Piligrim’s Pride America’s largest chicken producer made suppliers compete for money and then took money off poor performing workers