Welcome to part 3 of our 7 part series on the foundations of marketing. Today’s foundation is “Place” or alternatively what we call “Distribution”.
P3 – PLACE (Distribution)
The place where your customers buy a product or service, and the means of distributing your product or service to that place, must be appropriate and convenient for the customer.
➢ Location – does your location impact the level of business? What is the ideal location to maximise your revenue?
➢ Channels – are there different distribution channels for selling your product. You might sell your product online, in large retailers, specialty retailers or perhaps airlines? Consider the different ways you can distribute your product.
➢ Distributors – Do you want to sell your product into new markets that you have limited access to or have no contacts or limited resources? An established distributor may be able to accelerate your entry into a new market.
➢ Export – is your product suitable for foreign markets? Would it need to be altered? Translated?
➢ Transport – how are you going to get your product from where it is made, to where it is sold or consumed?