MGMT 1 Lecture Notes - Lecture 15: Discount Store, Costco, Sales Promotion
Document Summary
Marketing intermediaries: essential for distribution (between producer and consumer) middlemen . Provide ways for information and money to flow between parties. Channel of distribution consists of a sequence of marketing intermediaries. Agents and brokers: facilitate deals between sellers and buyers without taking title (never own the product) Wholesalers sell to other businesses (can be retailers like costco when buying in bulk) Forms of utility is mainly created by producers (operations management provide) wood to furniture. Time utility: making products available when we want them. Place utility: making products available where we want them. Possession utility: helping consumers take possession of a product. Wholesale deals with sales of products to business for business use or resale. Merchant wholesalers take title to products they handle. Some provide all distribution functions other specialize in specific functions. Agents and brokers facilitate between sellers and buyers. Agents tend to have long term relationships with their clients, brokers are usually hired on a temporary basis.
