Summary
Summary Lecture 11 General Business
- Course
- Institution
Summary Lecture 11 General Business
[Show more]
Seller
Follow
theovoegele
Content preview
General Business S1/11The Role of Marketing Intermediaries
Marketing intermediaries:
o Businesspeople and organizations who assist in moving and marketing goods
and services from business to business (B2B) and/or consumers (B2C)
Marketing needs intermediaries to achieve two fundamental objectives:
o Operational efficiency:
Intermediaries perform marketing tasks faster and cheaper than most
manufacturers could
o Market effectiveness:
Intermediaries make markets more effective by reducing transactions
and contacts
Marketing intermediaries contribute in various ways, like:
o Matching buyers and sellers
o Providing market information and promotional support
o Gathering assortments of goods
o Transporting and storing products
o Assuming risks and providing financing
o Completing product solutions
o Facilitating transactions and supporting customers
Distribution strategy:
o Company’s overall plan for moving products through intermediaries and on to
final customers
Channel of distribution:
o Group of marketing intermediaries that join together to transport and store
goods from producers to consumers
, Wholesaling vs Retailing
Wholesaler:
o Intermediary that sells products to other intermediaries for resale or to
organizations for internal use
o Perform specialized accumulation and allocation functions, and it allows
producers to concentrate on developing and manufacturing products to match
consumers’ wants
o By their service for retailers, wholesalers also support retailers by helping
their customer select inventory and purchase supplies
o Perform physical distribution activities more efficiently than producers or
retailers because they buy in large quantities and deliver to customers in
smaller lots
Wholesaling:
o The intermediaries’ activity in the marketing channel between producers and
business customers to facilitate the exchange - buying and selling - of goods
o Both a service for producers and for retailers
Retailers:
o Intermediaries that sell goods and services to individuals for their own
personal use
Classifying Wholesalers
Merchant wholesaler:
o Takes titles to goods, assume the risks associated with ownership, and are
usually directly involved in buying and selling products between the parties
o Full-service merchant wholesaler:
Middleman who offers the widest possible range of wholesaling
functions
o Limited-service merchant wholesaler:
Provides only some marketing services and specializes in new
functions
Agents and Brokers:
o Functional middlemen who do not take title to products and are compensated
with commissions for negotiating exchanges between sellers and buyers
o Agent:
Represents either the buyer or the seller usually on a permanent basis
o Broker:
Brings the buyers and seller together on a temporary basis
Manufacturers’ sales branches and offices:
o Independent middlemen or distributors who represent two or more sellers and
usually offer customers complete product lines
Retailing
Retailing:
o Includes all transactions in which the buyer intends to consume the product
through personal, family or household use
o Buyers in retail transactions are the ultimate consumers
Retailer:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller theovoegele. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.11. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now