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Marketing is a major part of a successful business plan. In order to earn maximum revenue and stay in the market, a business needs to make the best use of the available marketing channels. This will ensure that the product or service reaches the maximum number of customers and helps earn a profit. Thus, you need to know the concept to understand the topic better, and you can do so with Designing and Managing Integrated Marketing Channels Homework Help.
What are marketing channels and what is the significance in business?
Marketing channel is the path through which a product or service travels from the manufacturer to the end user. There are several ways that a manufacturer can choose to deliver the product. Due to new and emerging market and constant competition, a business needs to make the best strategies to survive.
With Designing and Managing Integrated Marketing Channels Assignment Help, you will know why marketing channels are important for business. You will also learn the different types of distribution channels businesses use.
Types of marketing channels
A business may use one or multiple types of channels to distribute its product and services. The traditional method involves a customer visiting a shop to purchase the product of his/her choice. But with technological advancements and many different changes, there are various others ways a customer can purchase a product. The experts at myhomeworkhelp.com make homework easier to understand and provide unique content on marketing channels.
The manufacturer sells the goods or services directly to the customer with no intermediary in between. This type of sales connects the end user directly to the producer. An example of direct marketing is e-commerce where manufacturers can sell their products directly to the consumers.
The retailer purchases the products from the manufacturer and later sells it to the consumer. This channel is mostly used by those manufacturers who do need to sell their goods immediately. This is beneficial for those companies that do not have their services at remote locations.
When business owners sell the rights to a third party to sell their products, it is known as franchising. This is a widely used marketing strategy and helps the business to earn a substantial profit.
This channel is beneficial for the consumers as they can purchase the products at cheaper rates. The wholesaler purchases the goods from the manufacturer in bulk and there fore sells to the customers at reduced rates.
Agents or brokers:
The agents are employed by the manufacturer to help in the selling of goods. The agents help to identify the potential customers and therefore make faster sales. They receive a commission from the producer in return for their services.
With Designing and Managing Integrated Marketing Channels Assignment Help, you can further learn how each type helps the business.
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