In this chapter, we will explore the theory that underpins the place component of the marketing mix (or Four Ps), which we introduced in Chapter 1 and why this is important for marketers to understand. The chapter will provide an overview of the four major distribution channels used by manufacturers to get their product into the hands of the consumer, focusing in particular on the consumer goods (food and grocery) retail channel. The chapter provides important introductory retail channel and format definitions (terminology) which every consumer goods retail marketer needs to know when making decisions about what products to sell in which retail stores. The chapter also looks at how the product travels to market, providing a basic overview of the consumer goods supply chain in South Africa, with a view of some of the key developments and trends to watch.
- The term Place refers to the distribution and physical availability of the product, in other words, where a product is sold and how it gets there. The goal is to make the product available where consumers will buy it in the quantities and pack sizes they need. For example, a chocolate manufacturer such as Nestlé sells its products at a wide range of outlets, including supermarkets, cinemas, garage convenience stores, vending machines, wholesalers and online.
- The different avenues available for a manufacturer to make their product available to consumers to buy are known as distribution (or marketing) channels.
- A distribution channel is made up of interdependent organizations, (referred to as intermediaries or marketing intermediaries), that help to make a product (or service) available for use or consumption by the consumer or business user.
Complete question: Explain the chapter you Save store distribution policy.
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Oswen Technologies Inc. is a software development company that spent a lot of money on advertising software products that were not in the market. The software products advertised before their availability are termed Vaporware.
<h3>What do you mean by technology?</h3>
Technology refers to the application of scientific knowledge for practical purposes in the industry.
Oswen technologies Inc. a software development company conducted a market survey to understand its customer base. The software products advertised before their availability are termed Vaporware.
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1) provide management direction and guidance at all levels,
(2) help to allocate resources,
(3) help to define the corporate culture, and
(4) give managers a way to assess performance.
$4,535 amount should be debited to bad debt expense.
<h3>What is
bad debt expense?</h3>
When a receivable is no longer recoverable because a customer is unable to fulfill their responsibility to pay an outstanding debt owing to bankruptcy or other financial troubles, a bad debt expense is reported.
Big Store stops paying its debts and fails to reimburse Company XYZ for $100,000 in items. Because the company is not convinced that Big Store will ever pay, the $100,000 is classified as a bad debt.
Because it reduces the amount of an asset, in this case accounts receivable, an allowance for doubtful accounts is considered a "counter asset."
As the amount is not a liability, bad debts are an expense to the business.
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