Learning Outcomes Marketing Channels . Student can outline a multi-channel distr

Question

Learning Outcomes

Marketing Channels. Student can outline a multi-channel distribution system

Marketing channel strategy. Student can recommend a marketing channel strategy for a product or service offering that assures the correct amount of intensity.

Value chain. Student can discuss how each channel in the product or service offering adds value to the customer.

Pricing strategy. Student can analyze a current pricing strategy and make recommendations for modifications.

Directions

This part of the assignment assesses your ability to relate marketing mix concepts of distribution and pricing to your product or service offering. You will also have a chance to recommend new distribution and pricing strategies based on your new target market to meet their needs.

Answer each of the following four questions, in order, numbering each of your responses. There is no need to repeat the question.

Marketing channels. To the best of your ability, outline the marketing channels of your product or service offering as they currently exist. Refer to Figure 6.2 for some ideas. Most product and service offerings will have more than one channel, so your system should include at least two; for example (1) a direct channel for internet sales: manufacturer --> customer; and (2) an indirect channel such as manufacturer --> distributor --> wholesaler --> retailer --> customer. If your product or service only has only a direct channel, explain why. Would this channel strategy change as a result of your new target market? Why or why not?

Marketing channel strategy. Why type of distribution intensity strategy does your product or service currently use? How do you know this? Would this distribution intensity strategy change for your new target market? Why or why not?

Value chain. Referring back to your marketing channel diagram, discuss what each member of the value chain does to bring value to the consumer.

Pricing strategy. Referring to the various pricing strategies outlined in the week's readings, which one does your product or service currently use? Would you recommend any changes for your new target market? If so, how would you change it and why?

Explanation / Answer

Based on the learning outcome following can be the answers to the given questions:

Marketing Channels:

There are many marketing channels are available in the market to sell the product broadly they are defined as direct and indirect channels such as

1. Retail Marketing i.e. through shops

2. Franchising i.e. selling through retail partners

3. Direct Marketing i.e. selling directly to the chain of customers

4. Wholesale i.e. bulk selling

5. Electronic commerce i.e. Marketing through online media

Marketing channel strategy

Marketing channel strategy can be selected based on the choice of selling the product. In the current scenario e-commerce is the best option to sell the products to the different target customers and which is easy to operate and requires less resources.

Value chain

Value chain is best described as the chain which is used to produce a product and finally that product is reached to customer through different channel partners. Value chain creation shall be done keeping in ind the product should reach the customer to the shortest route of channel. Therefore in case of our selected e-commerce marketing system we shall first develop a list of our vendors who can supply us products directly from the manufacturer or they serve directly as a vendors. In this case we will advertise our product on the web site and when the order comes then we can parcel it directly to the customer address from our central warehouse.

Pricing strategy

Since we are marketing our product using the e-commerce site so that our pricing can be dynamic based on the initial purchase cost and subsequently to the market demand of the product we are selling. It is known that the customer shall always look for a best deal so we have to keep our prices best all the time to gain the competitive advantage in the market.

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