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.
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
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.