CM (Fach) / Topic 1 Introduction (Lektion)
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Channel
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- 4 P's - Price - Product - Placement - Promotion
- Name reasons why marketing channels grow in importance! The channel is a gatekeeper between the manufacturer and the end-user the power of distributors, especially retailers in marketing channels is growing Companies often find it hard to create and maintain a well-working channel design The channel experience strongly affects the end-user's overall perception of a brand's image and satisfaction The channel is an important asset in the company's overall marketing and positioning strategy Awareness of the channel as a key strategic marketing asset is low in many firms and industries Information technology and e-commerce are exploding There is greater difficulty of gaining a sustainable competitive advantage The reduction of distribution costs is required
- What are Marketing Channels? Marketing Channels are the routes to market used to sell every product and service that consumers and business buyers purchase everywhere in the world
- Definition Marketing Channel A marketing channel is a set of interdependent organizations involved in the process of making a product or service available for use or consumption
- Name the 4 Channel Structures Two-level : Manufacturer --> Consumer Three-level : Manufacturer --> Retailer --> Consumer Four-level : Manufacturer --> Wholesaler --> Retailer --> Consumer Five-level : Manufacturer --> Agent --> Wholesaler --> Retailer --> Consumer
- Who belongs possibly to a Marketing Channel ? Manufacturers (e.g. Siemens, Nestle) - producer or originators of product or service being sold Intermediaries (e.g. Saturn, Schlecker, Selgros) - any channel member, other than the manufacturer or end-user, types : wholesalers, retailers, specialized End-Users - can and do frequently perform channel flows, types : individual consumers, business buyers Channel formats : combinations of channel members : - manufacturer-based - retailer-based - service provider-based - others
- Contact cost to reach the market Selling directly : Manufacturers -> Retailers : n*m Selling through one wholesaler : Manufacturers --> Wholesaler -- Retailers : n+m Selling through two wholesalers : Manfucaturers --> Wholesalers --> Retailers : 2*(n+m) *n = retailers, m= manufacturers
- Why do channels exist? Demand Side factors : - Facilitation of search - Adjustment of assortment discrepancy Supply-side factors : - Routinization of transaction - Reduction in number of contacts