MKT 607 GCU Intermediaries Enhance Market Reach Discussion
Jan 18-22, 2024
What are the various types and functions of marketing intermediaries? Which are more important for large business and why? Which are more important for the small business and why? How could additional marketing channel options in the simulation help you better serve your target market?
Rufina Chukwu
Jan 18, 2024, 9:15 PM
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Hey class/professor,
Marketing Intermediaries
Marketing intermediaries are key players in a distribution channel that helps producers get their products to consumers. They can also provide valuable insights that help companies develop future strategies. There are various types of marketing intermediaries, these include agents and brokers, wholesalers, distributors, and traditional and online retailers. Agents and brokers act as a manufacturer’s representative, they look for buyers and may bargain on the producer’s behalf, but they do not acquire ownership of the goods (Kotler & Keller, 2016). Wholesalers are those who purchase products from a manufacturer in bulk and re-sell them to retailers and other businesses. Distributors are those who expedite sales between the manufacturer and retailer or other business. As opposed to wholesalers, they do not purchase the product from the manufacturer they just deliver it. Therefore, they are paid by commission or in fees by the manufacturer (Weedmark, 2019). Lastly, retailers are stores that sell products and goods that aren’t their own directly to consumers. An example of this would be Target or Walmart.
Marketing Intermediaries for Large Businesses For large businesses
The suitable type of marketing intermediaries would be wholesalers and retailers. This allows them to cover a comparatively large geographical area and help the company to sell their products. Wholesalers are primarily focused on sales, and they will try everything to sell the products to retailers and other businesses. Which in the end will then be sold to the end users.
Marketing Intermediaries for Small Businesses
For small businesses, distributors or retailers would be a great distribution channel. Their target market would also be small, so it would be easier for retailers to get into the distribution channel to sell the products directly to the consumers. It would also be easier for them to know the preferences of consumers and gain feedback on the products and services. Furthermore, it will also reduce the spending on distributing products.
Additional Marketing Channels in the Simulation
Utilizing additional marketing channel options in the simulation can help better serve our target market by increasing the advertisement of our brand and the products we have to offer. This can be done by using multichannel distributions such as websites, email, targeted digital advertising, and events that are held either in person or digitally (Terminus, n.d.).
References
Kotler, P., & Keller, K. L. (2016).A framework).for marketing management(6th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall. ISBN-13: 9780133871319 Terminus. (n.d.). Four Different Types of Marketing Channels in One Platform. https://terminus.com/types-of-marketing-channels, Weedmark, D. (2019). 4 Types of Marketing Intermediaries. https://smallbusiness.chron.com/4- types-marketing-intermediaries-24330.html
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