Individual Assignment

Individual Assignment

Question 1

The channel member is one of the most significant paradigms of supply chain management. It is through the market channels that the product reaches the customer, and therefore, leads to the development of a sustainable bridge between the producer and the customer. The significance of marketing channel is evident in all the theories of marketing. It is merely possible through the marketing channels that the customers are getting reached with the right products at right time spam. Once the product is manufactured, it is with the channels to develop sound strategies that lead to the fulfillment of customer desire by delivering the products (Baker, 2012, pp. 21-97).

The role of marketing channel

As per the marketing channel theories, marketing channels have several roles to play, as per the marketing sciences. These roles are;

Linking buyers and producers

They are the bridges that connect the producers of the goods with the consumer of the goods. The idea is to reach the product consumer, and deliver the set of benefits he is expecting from the product. The marketing channel reaches customers everywhere, and builds a link between producer and consumer.

Sales and advertising

One major function performed by the marketing channels comprises of sales revenue generation, it is only through the marketing channels that the products are sold, and therefore, the entire promotion campaign relating to sales are carried by the marketing channels.

The determination of the pricing strategy

Another major function is the determination of the pricing strategy, no matter, what proportion is the margin of the firm, the pricing strategy of the firm is determined by the margin of the channel over the product. The pricing strategy is about the assessment of the rates at which the channel is acquiring similar products, and therefore, set the customer pricing accordingly.

Market research

They are very helpful while conducting the market research, since the notion of the market research is to know the customer, his behavior and his preferences. They are the best agents that let the producer know about the expectations of the customer, as well as, his attitudes towards products and brands. They also comprise of a very important source of customer feedback about the product.

Product strategy

The product strategy is often determined by the feedback and the comments of the channels. They are a core source of assessing the market demand about a particular product, as well as, let the manufacturer know about the most suitable marketing mix in that regard. The designing of a product strategy could only be done through the assessment of the data provided by the marketing channels (Blythe, 2009, pp. 23-97).

Overestimation/ underestimation of the power

A marketing channel is the backbone of the product success, since the entire function of sales has been performed by these marketing channels. The marketing channels are therefore, responsible for a colossal share of success of the product, as well as, the business. It is essential that a marketing channel feels, overestimated or underestimated (Coughlan, 2006, ...