One of the key concepts in marketing is the idea of the marketing mix. This term refers to the use of four different areas which define where a product finds its place within the marketing place. The specific parts of the marketing mix are known as the four Ps: product, price, place, and promotion. Note that while promotion is generally used interchangeably with marketing, it is in fact just one of the important concepts that make up the marketing mix!
In this section of our site, we are going to take a look at the concept of place as it applies to successful marketing strategy within your business. Place is also known as distribution, and refers to the different ways in which a product or service are made available to the customers which pay for them. Some businesses don't have as much use for this section. An agent selling a Toronto resale home can't decide where that home is placed. But the majority of industries will find that place is key to sales.
Obviously, distribution is very important to any business. No matter what kind of service or product you provide or develop, you have to have a way of delivering it to your customers. Without an ability to transfer your end product to the market, whether that be to businesses in Alaska or to the residents of homes in Hudson Valley New York, there is no way for your business to make money. Therefore, every business does have some kind of distribution channel.
The key to success in the area of distribution when it comes to marketing your business lies in understanding the way distribution works, and how you use it. In fact, distribution can be a highly effective tool in your marketing arsenal once you understand the channels you use and what they mean to the end user.
In this section of our site, we will be taking a look at the different ways you can put your product or service out there so that current and potential customers can find it, and the most effective ways to do so. If you're selling a loop calibrator how do you get the attention of factory buyers who need your product?
It's not quite as simple as it sounds! Just take a quick walk through your local department or big box store. The chain itself is a distribution centre for many different products, sold there because the companies developing those products made a successful pitch to the retailers. However, even the distributors have their own refined distribution process. Products are placed where they are most likely to attract the attention of a target market; you won't find a hand saw next to a box of Cap'n Crunch. The factor of distribution is probably the reason you see Mac laptops or IKEA furniture in most of the condos central Toronto has, while there are different pieces in the quaint houses of smaller towns.
The reason? Retailers have made a studied science out of the best ways to distribute a product in store, so that the sales of that project are maximized by its placement. The same kind of idea applies to the product or service that your company has to offer customers or clients. The placement of that product will directly affect its success within the market place, and that placement is something that you need to focus on at every level.
We will also be taking a look at the different mediums of distribution out there for individual business owners. The advent of the information age has meant a rise in a whole new distribution medium, but with that comes a different set of marketing skills and strategies. Just because buyers in Troncones Mexico may be able to find your products online, does not mean that you should open up the market to sell them there. That's for each business to way the pros and cons. Expect to find some information here on how the marriage between distribution and medium can work to your benefit.
Every business distributes its product somehow in order to survive. Look in this section to sharpen your distribution strategies so that they help your business to grow!