Distribution and Pricing: Right product, right person, right place, right price
25 important questions on Distribution and Pricing: Right product, right person, right place, right price
What is a distribution strategy?
What is a channel of distribution?
What is physical distribution?
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What is a direct channel?
What are channel intermediaries?
In what ways do distributors add value to a product?
2. Time - making products available at convenient times for consumers. E.g. vending machine
3. Place - providing right product at right place. E.g. gas station at bottom of freeway or ATM in shopping mall
4. Ownership - making it easier for consumers to actually possess stuff they purchase. E.g. TV installation, providing credit, etc.
5. Information - providing helpful information. E.g. salesperson in shop
6. Service - providing fast, friendly and personalised service. E.g. placing special order for you, etc.
What are independent wholesaling businesses?
What 2 types of independent wholesalers are there?
2. Agents/brokers - do not take title of goods, even though they may take physical possession on a temporary basis before distribution, e.g. real estate agents
What are the 2 types of merchant wholesalers?
2. Limited-service merchant wholesalers - same as 1 but less services. e.g. might warehouse but not ship
What are the 3 types of limited-service merchant wholesalers?
2. Cash and Carry Wholesalers - service customers who are too smal to merit in-person sales calls from wholesaler reps. Customers must get the products themselves. E.g. Costco, Makro
3. Truck Jobbers - work with perishable goods (bread, etc.), drive their products to customers (usually small grocery stores)
What is multi-channel retailing?
What are the 3 distribution strategies for store retailers?
2. Selective distribution - placing product only with preferred retailers. Works best for medium- to higher-priced products
3. exclusive distribution - establishing only 1 retailer in a given area. E.g. top-end cars
What is the wheel of retailing?
What are the 4 theories for nonstore retailers?
2. Direct response retailing - catalogs, advertising, telemarketing, etc. Meant to elicit direct consumer sales.
3. Direct selling - selling directly to customers in their homes/workspaces.
4. Vending - vending machines that keep expanding in products they offer
What are the 2 downsides to online retailing?
2. Security on the web is crackable
What is multi-level marketing?
What is the supply chain?
What is supply chain management?
What is vendor-managed inventory?
What are the key management decisions in Supply Chain Management?
2. Materials handling - how to move products within facilities, how to balance efficiency with effectiveness
3. Inventory control - how much should we hold, how should we store it
4. Order processing - how to manage incoming and outgoing orders
5. Customer service - how can we reduce waiting times and facilitate interactions
6. Transportation - how can we move products most efficiently
7. Security - how to keep products safe from accidents
What are the 4 common pricing strategies?
2. Boosting volume - usually expressed in market share
3. Matching the competition - set prices based on what the others are doing to eliminate price factor in customer choice.
4. Creating prestige - use price to send consumers message about high quality/exclusivity of product
What is skimming pricing?
What is breakeven analysis?
What is the breakeven equation?
What are the 2 key considerations of consumer pricing perception?
2. Odd pricing - ending prices in numbers below even dollars and cents in order to create perception of greater value. e.g. 99,99 instead of 100
The question on the page originate from the summary of the following study material:
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