Describe Marketing Plan Strategies.Marketing Plan Strategies

Marketing Plan Strategies

Distribution Channels: One effective distribution channel for a product is direct sales, in which the company sells the product directly to the consumer through its channels such as a company-owned store or website (Kotler & Keller, 2019). It is especially useful for niche products or companies with unique products. This allows the company to be more in control of the customer experience, and establish a personal relationship with them. For companies who have more products or are trying to sell their product in a wider range of markets, it can prove beneficial to use agents or distributors. Distributors are companies that buy products from the manufacturer and then sell them to retailers or other distributors, while agents are individuals or companies that act on behalf of the manufacturer to sell the product to distributors or end customers (Javalgi, White, Ali, & Ali, 2020). Pricing strategy: Prices can differ depending on which distribution channel is used. Direct sales may allow a company to offer a product at a lower price because they are in direct contact with customers and therefore can better justify its value. To encourage distributors and agents to promote the product, they might need to charge wholesale prices that are lower than direct sales (Javalgi, 2020).