4P’s of Marketing

 Right place, Right Product, Right promotion and Right price are the 4P’s of marketing. In this article we will cover the importance of “right place” in a marketing strategy. A good place or good distribution channel is important to enable customers to buy the product or services the company produces or manufacturers. Right place also includes the importance of transportation and logistics. The meaning of the right place is the planning of inventory, warehouses for storing the products and also transportation of these products.

The most important aspect to look at while delivering the product is the channel. The marketing executive of a company has to decide the right strategy of delivering the products to the customers. The executive has to determine the right channel for delivery. Channels determine the number of middlemen required to deliver the product. There are some companies that reach customers without the means of a distributor or a retailer, on the other hand there are companies which deliver the product to the retailers and retailers sell the products to the customers. Some companies have 2 or 3 middle men before a product reaches the consumer.So it is important to decide what channel of distribution has to be used such as,trade channel, marketing channel or channel of distribution

Channel of distribution is a vertical distribution where the producer, distributors and retailers work in a coordinated manner to reduce the final cost at the customer end. Channel of distribution is the most effective kind of distribution channel as it reduces the final cost at the consumer end and also reduces duplications and also maximizes the result.

Channel of distribution is a value added network. For example 2 automobile firms cooperate to get the best parts from a dealer. Distribution channels are important because it helps to achieve market share market penetration and also helps you survive in the market. The marketing strategy has to be changed dynamically looking at the marketing trends. The company needs to build a proper relationship with the retailer to sell its products who takes years to build. If the retailers or middlemen are not enthusiastic there would be a decrease in the market share and certainly the profits.

Middlemen are important to deliver the product from producers to consumers.Middlemen helps you to handle the storage and transportation that are required for products.Middlemen help you in promotion, displaying the product to customers till they go into the basket of the customer.