Marketing Management What are the various types and functions of marketing inter
ID: 424235 • Letter: M
Question
Marketing ManagementWhat 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? Marketing Management
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?
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?
Explanation / Answer
Market intermediaries are the people who help the producers to take the goods to the consumers. These include various members of the channel like agents, wholesaler, distributors, retailers. These functionaries store the goods at a stage and supply to the member of next category in the line.
These member are necessary because they are well versed in these functions, have a good grasp over the territory they operate in, have infrastructure and other resources to move the goods to the consumers. They also provide vital insights about the market that may help in formulating the future strategies for companies. By using these, large businesses can concentrate on their core activities, leaving distribution to these people who work for a commission. Large businesses use the intermidiaries to expand their reach to new markets.
For smaller businesses, these work as helping hands and may help the business to gain a hold in the local market. They work as a cost effective solution to word of mouth publicity where the producer has limited means, and can't afford large scale advertisement.
Additional marketing channels are necessary where the market is scattered, fragmented and is difficult to reach through existing channels. These new channel may help to capture a new market where they have expertise, or penetrate an existing market more efficiently through extra efforts.