Place (Edexcel GCSE Business): Flashcards
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Practise the cards
13 cards from this deck
Definition of 'place' in marketing
Definition of 'place' in marketing
Making products accessible at right time & location
Alternative term for 'place' in marketing
Alternative term for 'place' in marketing
Distribution
Number of main distribution channels
Number of main distribution channels
Four
Traditional retailing (Channel 1)
Traditional retailing (Channel 1)
Manufacturer to retail shop to customer
Direct retailing (Channel 2)
Direct retailing (Channel 2)
Business sells through own outlets, cuts out middleman
Direct selling (Channel 3)
Direct selling (Channel 3)
Manufacturer sells directly to customers, no retail shops
Third-party e-tailing (Channel 4)
Third-party e-tailing (Channel 4)
Selling via online platforms run by other companies
Key advantage of physical shops for customers
Key advantage of physical shops for customers
Can physically examine products before buying
Cost advantage of e-tailing
Cost advantage of e-tailing
No expensive high street rent or many staff needed
E-tailing shopping hours availability
E-tailing shopping hours availability
24/7
Market reach advantage of e-tailing
Market reach advantage of e-tailing
Global reach - access customers worldwide
Location cost factors for retail stores
Location cost factors for retail stores
Rent, business rates, utilities, maintenance
Effect of proximity to competitors
Effect of proximity to competitors
Can increase customer traffic but also creates competition