Place
This article covers meaning & overview of Place from marketing perspective.
What is Place?
Place is the method one uses to get products and services on to different distribution channels and networks to reach the end customer or the purchaser; it is how and where the customer buys the product.
It forms one of the 4 main parts of a marketing strategy and focuses on
- Location of business
- Location of target market
- Reaching the target market
- Warehousing
- Transportation and logistics
In many situations one or more distribution channels can be used, for example (there are many more forms apart from these)
- Manufacturer -> end customer
- Manufacture -> agent -> end customer
- Manufacturer -> retailer -> end customer
- Manufacturer -> wholesaler -> retailer -> end customer
- Manufacturer -> reseller -> retailer -> end customer
- Manufacturer -> franchisor -> franchisee -> end customer
In deciding the most appropriate distribution strategy, primarily a manufacturer or a marketer should ask the following two questions:
- What is the most effective way to reach the end customer
- What are the benefits and costs of a particular method
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.
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