Overview of Channels (14) Flashcards
What is a channel?
a path to market for goods and services.
What is distribution?
getting your new, innovative product to a place where customers can buy it
The inability to find the best distribution channels for products can…
limit a company’s success or even doom them to failure
distribution channels are also referred to as…
simply channels
distribution channels are also referred to simply as…
channels
A channel is a ____ to market for goods and services.
path A chain of retail stores is an example of a channel, as is an online store or a team of sales representatives. Amazon and Walmart serve as huge channels for the products of other brands. T
What are the two strategic questions many companies rely on channels to help answer?
- HOW DO YOU WANT TO SELL YOUR PRODUCT? 2. HOW DOES THE CUSTOMER WANT TO BUY YOUR PRODUCT?
For brands that make products, what method of distribution is best?
The answer is usually the one that get products into the biggest, most promising markets in ways that maximize product sales.
Brand that make products want to get their products int the biggest, most promising markets in ways that ________ product sales.
maximize
Bands may wish to sell their products through certain types of distribution channels, but how do customers want to buy those products?
Building the ideal channel for a product requires understanding how customers wish to buy it. Customers’ purchasing patterns may not match a company’s preferred channel for selling its products.
What the benefits of using a channel?
They create convenience for customers and for the brands that use them by providing access and availability to products that the brand itself cannot easily provide.
Channels create _______ for customers and for the brands that use them by providing access and ________ to products that the brand itself cannot easily provide.
convenience, availability
In most cases, a distribution channel is an ___________ between the products a brand manufactures and the customers who buy those products.
intermediary
An intermediary is a _______ _______
third party sometimes adding a third party is inefficient
In the business world, channel intermediaries help…
- source the goods or services that customers need, - place them where customers want to buy them
- have them available when customers are ready to buy.