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Definition of Pricing Pricing in marketing refers to the process of setting the value (price) at which a manufacturer or business will exchange its goods and services with customers. It’s a crucial element of the marketing mix that directly impacts a company’s revenue. Unlike other elements of the marketing mix, such as product features or … Read more
Definition of Distribution Distribution in marketing is the pivotal process of getting products into the hands of consumers efficiently. It involves a systematic approach to delivering goods from production points to various customers through diverse delivery channels. This includes establishing a reliable transport system, implementing precise tracking mechanisms for timely and accurate deliveries, ensuring durable … Read more
Definition of Distribution Channel A distribution channel is the path a product takes from being made to being in your hands, making sure it gets to you in the easiest and fastest way possible. A distribution channel is like a journey for a product, starting from where it’s made to where it’s bought by you. … Read more
Definition of Channel Conflict Channel conflict occurs when partners in a distribution network compete or clash due to misaligned goals, strategies, or actions. It disrupts the sales process, creates tension between entities like manufacturers and retailers, and can result in reduced revenue, operational inefficiencies, and damaged customer relationships. It’s like a clash between teammates in … Read more
What are the 7 Rs of Logistics? Logistics aims at delivering products to end consumers as effectively and efficiently as possible. Below are the 7’RS of logistics that make it possible: Right Product This sums up the essence of product development meeting the pulse of consumer needs. In marketing terms, it’s similar to product differentiation … Read more
Functions of Marketing Logistics In this article, we will explore the 10 major functions of marketing logistics which play crucial functions in business operations. Product Delivery Ensuring that the right product gets to the right customer at the right time is the pivotal function of marketing logistics. This function is not just about moving items … Read more
Definition of Marketing Logistics Marketing logistics is a strategic process encompassing the careful planning, execution, and control of the movement of goods, services, and information from manufacturers to end consumers. Also known as distribution logistics, its primary objective is to ensure the efficient flow of products, aligning with customer demands while optimizing costs for the … Read more