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This lesson on Marketing strategy discusses the distribution of a product. This is one of the fundamental Ps of marketing (Place).
Watch more at Hope you will enjoy the video! Here's a link to the full course on Udemy:
Hope you will enjoy the video! Here's a link to the full course on Udemy:
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This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers.
The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours.
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Marketing module table of contents:
Marketing: An Introduction
Introduction to Marketing
What is Marketing's role?
Who works in Marketing?
Marketing's key processes
Marketing: Building a Marketing Strategy
What is a marketing plan?
The psychology of customers - needs, wants, and demands
Conducting marketing research
The different stages of marketing research
Collecting Primary Data for Marketing Research
Performing client segmentation
Choosing a target customer group
Marketing: How to set up an effective Marketing Mix
The four Ps of Marketing and their importance
Marketing: How to set up an effective Marketing Mix - Product decisions
The product concept
Classifying a firm's products
The typical product lifecycle
Product branding
Product packaging
Marketing: How to set up an effective Marketing Mix - Pricing decisions
The variables influencing product pricing
The demand curve
Performing break-even calculations
Marketing: How to set up an effective Marketing Mix - Place decisions
Setting up product distribution
Types of distribution channels
The advent of e-commerce
Marketing: How to set up an effective Marketing Mix - Promotion decisions
The essence of marketing promotion
Creating a marketing campaign
The importance of social media
Marketing: How to set up an effective Marketing Mix - A dynamic concept
The four Ps of Marketing - A dynamic concept
Marketing: Marketing strategy in the long run
Allocating the funds available for Marketing - The budgeting exercise
Using KPIs to improve decision-making
Short-term vs. Long-term marketing goals
Interpreting and calculating the Customer-Lifetime-Value formula
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Product distribution is probably the most difficult step to set up among the 4 Ps.
Well, it takes a lot of time and significant energy to build and optimize a distribution channel. And we have to consider several factors that will influence our decision. The best distribution channel is the one that:
Delivers a product that customers want.
Delivers a product where customers want it.
And allows customers to have the product at the right time.
A product must be positioned where its target customers are likely to find it.
A great-looking store, with prepared sales personnel, and optimal product placing can have a huge impact on sales.
Great distribution channels deliver products at the right time. Nobody likes it when an item is out of stock or when there is a long waiting period for its delivery. Companies want to be efficient with the inventory they keep as it represents a cost. An optimized logistics flow can be beneficial for both customers and producers.
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