The 7 P’s of the Retail Marketing Mix
3) Place
The
retailer should keep in mind the fact that his ‘product should be available
near Some of these activities are carried out by intermediaries. A considerable
coordination is required among various channels to the place of consumption so
that the consumers can easily buy it. If the brand preferred by the consumer is
not easily available at a convenient location, he may buy some other brand in
the same product category. Hence, the retailer has to ensure that the product
is available to the target consumers whenever required.
There
are two major components of place: Marketing
Channels and Physical Distribution (logistics management).
Channel
decisions affect considerably the elements of marketing mix and involve a long-term
commitment of resources. Intermediaries involved in channel network are
independent (at times contractual) organizations, hence their needs must be
taken into account while evaluating channel alternatives. The success of
marketing efforts, to a large extent depends on the sound distribution network.
Physical distribution involves transportation,
warehousing, material handling, bulk packaging etc.
Some
of these activities are carried out by intermediates. A considerable
coordination is required among various channel to seek maximum results of
marketing operation.
Following
are the components of a retail place mix:
Distribution
Channels
Intermediaries
Distance
factor
Inventory
level
Transportation
Warehousing
and Storages.
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