U4L3 HW Intro on Flashcardizz

Front

What does the term "Place" refer to in a business context?

Back

How a business gets its products to customers

Front

What is the goal of "Place" in marketing?

Back

To make products available in the right place at the right time in the right quantities

Front

What does getting products/services to consumers involve?

Back

Channels of distribution

Front

What do channels of distribution refer to?

Back

The paths of ownership that goods follow from producer to consumer

Front

What are the two types of channels mentioned?

Back

Direct and indirect

Front

What is a direct channel?

Back

A connection between producers and consumers without intermediaries.

Front

Which of the following is an example of a direct channel? Supermarket, Online retailer, Farmers market, Department store

Back

Farmers market

Front

Most services use which type of channel?

Back

Direct channels

Front

What is the role of intermediaries in indirect channels of distribution?

Back

They take possession of goods from the producer, add a markup, and resell them.

Front

Why might a store choose to use a wholesaler? Options: To increase the number of direct sales to consumers. To reduce the need for inventory space and get better prices. To eliminate the need for retailers. To manufacture their own products.

Back

To reduce the need for inventory space and get better prices.