MKTG 300 Exam #3

To begin, a firm should set specific research objectives. Research objectives should be specific and measurable. LEGO: "Why are girls not interested in our products?"

1) Problem definition

Plan development, often called research design, involves coming up with a plan for answering the research question or solving the research problem identified in the first step of the process. what type of research and what type of sampling method Types of research: •Exploratory research. •Descriptive research. •Causal research.

2) Plan development

Researchers must ask themselves: can they acquire the data they need to answer their questions from someone else, or do they need to go collect the data themselves? Primary data collection—when researchers collect data specifically for the research problem at hand—can be either qualitative or quantitative in nature.

3) Data collection

Understanding transportation modes is essential to building an efficient and effective transportation network. Firms must match the modes of transportation they choose to use with their overall marketing strategy to get the most advantage from their logistics operations. Factors to consider: •Accessibility, speed, capacity, cost, the ability of the mode to consistently service customers, and intermodal capabilities.

Advantages and Disadvantages of Different Transportation Modes

A type of research used to understand the cause-and-effect relationships among variables. When used: Used in situations where clarifying what caused an action to happen, such as "why are sales increasing at only some stores?" How conducted: Experiments, often in a store setting Type of Hypothesis: Questions that assess why something happens Typical research method: Quantitative

Causal research aka experimental research

A: Provide customers with a convenient location. D: Assortment and variety can be limited. Customers might pay a higher price point.

Convenience Retailers Advantages and Disadvantages

Data are facts or measurements of things or events. Data are the building blocks of research. Information is the result of formatting or structuring data to explain a given phenomenon, or to define the relationship between two or more variables. Information is the result of data analysis.

Data are facts or measurements of things or events. Data are the building blocks of research. Information is the result of formatting or structuring data to explain a given phenomenon, or to define the relationship between two or more variables. Information is the result of data analysis.

A: Offer a broad variety and deep assortment of merchandise. Offer services to customers to improve the shopping process. D: Department stores can be inconvenient for customers to access. Many of today's customers want a more specialized shopping experience.

Department Stores Advantages and Disadvantages

A type of research that seeks to understand consumer behavior by answering the questions who, what, when, where, and how. When used: For situations when specifics of a market are not well defined (i.e., who, what, when, where, how). How conducted: Surveys and/or focus groups Type of Hypothesis: Multiple and specific questions to gain specific understanding Typical research method: Qualitative or Quantitative

Descriptive research

Disintermediation •Removal of partners •Problems? occurs right where a supply chain might eliminate certain partners right if hypothetically speaking we're a producer of certain product we sell through certain retailers and that retailer cuts us off or we cut the retailer off because it's not good business anymore that's an example of disintermediation when a company decides to sell through their website and not just solely through those retailers hopefully we generate some sales through our website and we sell direct to consumer so when we add a different channel a different multi channel or here actually let me do this if hypothetically speaking this was our only channel right we sold through retailers to the consumer and then we added a channel in order to reach certain consumers by selling direct through our website this is an example of disintermediation because some of those products that have been sold by our retailers are now going to be sold on our website this intermediation is sometimes a risk I mean I think we can all kind of understand what's good about it apathetically right if these consumers weren't buying from us and we added this channel and now we capture some sales from this consumer segment or this target market there's that's beneficial right it's additional market coverage it's additional sales that we wouldn't have otherwise gotten but those retailers might be a little miffed by the fact that we're selling on the Internet and not solely through them and that might create some conflict of course as well but nowadays we see a lot of disintermediation and if we're going to remove channel partners we want to accompany that with communication about where we can find our products and services so just intermediation can create heartburn and heartache and trouble for companies if we don't handle that disintermediation properly

Disintermediation

A distribution center (DC) is a type of warehouse used specifically to store and ship finished goods to customers. •Product accumulation involves receiving goods from various suppliers, storing the goods until they're ordered by a customer or other company-owned facility, and consolidating orders to achieve transportation economies of scale. •Product sortation refers to gathering goods with similar characteristics in one area of the DC to facilitate proper inventory controls and effectively provide customer service. •Product allocation involves picking available goods to fill customer orders. •Product assortment occurs when the DC mixes goods coming from multiple suppliers into outgoing orders so that each order includes a variety of goods rather than just one type of good.

Distribution Centers

A: Convenient locations. Merchandise assortment has improved to offer customers more items. D: Offer little to no sales assistance.

Drugstores Advantages and Disadvantages

A: Offer a wide variety and assortment of merchandise. Provide convenient delivery options. D: Lack of personalized service. Returning merchandise can often be time consuming.

E-tailers Advantages and Disadvantages

A type of research that seeks to discover new insights that will help the firm better understand the problem or consumer thoughts, needs, and behavior. When used: Typical when information is limited, such as when a firm enters a new market. How conducted: Interviews and/or observation Type of Hypothesis: Questions designed to gain broad understanding Typical research method: Qualitative

Exploratory research

Retailer cooperatives they might have the appearance of kind of being independent retailers but they work together under one corporate banner a really good example of this is these hardware they you know have entrepreneurs that own local stores but at the same time they're part of a larger team I guess you'd say right under the a spanner and so these independent or these entrepreneurial store owners aren't necessarily independent but they buy into something like a franchise Ex: ACE Hardware

Independent retailers - band together

Logistics is that part of supply chain management that plans, implements, and controls the flow of goods, services, and information between the point of origin and the final customer. The main functions of logistics include: •Transportation. •Inventory. •Purchasing. •Materials management and warehousing. Through these various functions, logistics adds value to products moving through the supply chain.

Logistics in the Supply Chain

1) Problem definition 2) Plan development 3) Data collection 4) Data analysis 5) Taking action

Marketing Research Process 5 Steps

Product •Need to be developed based on real customer needs and wants. Price •Demand analysis is a type of research used to estimate how much customer demand there is for a particular product and understand the factors driving that demand. Place •Sales forecasting is a form of research that estimates how much of a product will sell over a given period of time. Promotion •Advertising effectiveness studies and sales tracking are used to measure the effectiveness of promotional programs.

Marketing Research and the Four Ps

Low prices are an outcome of the supply chain strategy that maintains Walmart's success. Walmart is able to offer low prices because it has a superior supply chain. Will the supply chain advances of others lead to the demise of Walmart?

Maximizing Efficiency

Retailers have to consider: -Consumer trends causing shifts -Non-store retailing -Retail convergence -Megaretailers -Retail technology -Global expansion global supply chain issues and depending on what sector retailer you're talking about they're more impactful of course than others but if you know visitors over in the last couple of years walked in and found that you can't find the things that you might normally find or be able to buy them in the quantities you might normally buy you're not alone obviously and so there's been you know some big supply chain issues and delays and that sort of things that retailers have to continue to deal with and still do that while providing satisfaction to customers these supply chain issues probably will continue to be an issue for the foreseeable future consumer buying behavior has changed again COVID maybe accelerated some of these things that consumers were already trending toward the idea of buying online or you know taking advantage of convenient methods like delivery for things that they maybe weren't previously having delivered again pre COVID and you know during the pandemic consumers have been shifting in this manner large number of consumers are continuing to shift if we look at you know some things that just happened kind of in the wake of the pandemic really kicking up retailers have had to adapt to things like you know curbside delivery and those types of things that maybe they weren't ready to do existed maybe a little prior to the pandemic but then you know quite frankly it really seen an explosion you know consumers were prior to the pandemic becoming more cost conscious right and more frugal and that type of thing and so we've seen a big explosion in retailing for the really extreme value retailers that being like the dollar stores Dollar General and that sort of thing we're really experiencing explosion getting growth prior to COVID and certainly now with what goes on you know with the economic pressures and you know inflation and all these different things that we're dealing with now quite frankly it's caused a lot of growth to continue for those value conscious retailers non store retailing ecommerce had gotten really big and even much bigger now of course in the last couple of years and things that consumers maybe were hesitant to buy online where we see a lot more acceptance of buying those sorts of things and as those E retailers continue to improve their operations and streamline things like delivery and processing returns and providing support will you know probably continue to see growth in non store retailing there has been a real blend of retail formats 15-20 years ago it was difficult to have maybe a little more difficult to come across one stop shop stores but a lot of Targets and Walmarts and stores of that nature are shifting toward becoming that one stop shop sort of format back when I was much younger if you wanted to buy you know a TV had to go to an electronic store now we can get them you know and any number of places and so there's really been this blending of retail formats that has caused a lot of retailers to have to realize that it's not the competition that they were used to fighting against that they've had to adapt and focus on retailers maybe that they didn't anticipate we're going to be competitors for them Walmarts in the world you know say for example have become mega retailers global brands Amazon and the growth that they've had in the last several years again another form of a mega retailer that has caused a lot of issues for you know other retail outlets that maybe don't have the same scope as Walmart or an Amazon or something of that ilk an explosion in retail technology that's you know created some efficiencies in a lot of areas because we can really manage our inventory and know where it is at any given moment on the consumer side of things you know we have the convenience being able to you know push shop online and price match and cross compare retailers at our fingertips of course you know we can look on things like apps or websites or things like that and see how many things might be in the store or where we might have to go and so this technology has made things very interesting and efficient in a lot of ways it's caused a lot of headaches as well for retailers but it also creates opportunity that if I can provide those things to consumers I can differentiate myself in a way that maybe I wasn't anticipating so retailers who have embraced and adapted to this changing technology can you know benefit global expansion and that's a trend that's been occurring you know prior to COVID of course as well you know the global expansion global retailers now have a lot more leverage and a lot more buying power when dealing with vendors and suppliers and so it's changed those relationships of course as well so there's a lot going on in retail that retailers have to you know quite frankly be more nimble maybe than what they were anticipating or what they had been in the past

New Trends in Retail

A: Provide customers with a deep assortment of merchandise. Merchandise is available at a deeply discounted price. D: Inventory is inconsistent. Offer little to no sales assistance.

Off-Price Retailers Advantages and Disadvantages

a multichannel retailing approach that allows the customer to have an integrated customer experience across all of a retailer's distribution platforms. Customers can shop from their smartphones, in a brick-and-mortar store, on a desktop, or even by catalog and enjoy a seamless experience. In order for an omnichannel retailer to be successful, retailers must invest in: Infrastructure •The firm must have successful relationships with suppliers and other vendors, and appropriate supply chain and logistics capabilities. Process •As omnichannel initiatives expand, retailers have to implement processes and strategies to ensure that the experience is seamless across channels. People •Success or failure of an omnichannel retailing strategy is totally dependent on the firm's employees. A lot of us as consumers engage in what's called Omni channel retailing and so we're used to buying in store and maybe online and shipping prices from a variety of outlets right if I'm a traditional retailer right and I only have a a brick and mortar type of store right the pressure that I feel now to create another channel for consumers to be able to visit is extremely high right and so because consumers and we have this trend in consumer behavior of being Omni channel shoppers the pressure is on the retailers to create an Omni channel approach right and so Omni channel is just again like the idea that if we have a face to face presence we also need to maybe have an electronic one right and because of advances in technology and smartphones and and that sort of thing we need to create an app and we need to do all these kinds of different things in order to adapt to the changing tastes and preferences of consumers completely different type of process right we have to have an infrastructure in place that allows for the management of these various things again if we kind of use this example of a retailer that only had a storefront or maybe they had several storefronts if we're shifting toward Omni channel retailing the infrastructure needed to be an E retailer right is completely different than the infrastructure that we might have needed to operate that storefront the process for dealing with customers is very different as well from traditional retailing to E retailing and so there's a lot of changes that retailers have to make sure that they can handle right and have the processes and things like that in place in order to adapt to what's going on with with consumers in those changing trends

Omnichannel Retailing

1) prospecting and qualifying 2) the pre-approach 3) the approach 4) the presentation 5) handling objections 6) closing the sale 7) follow up

Sales Process Model Steps

:data that is collected specifically for the research problem at hand. •Requires far more time and money than secondary data, but may result in a more nuanced understanding of customers and their behavior. Collection Method Examples: Focus groups, surveys, observations, data gathered by equipment (e.g., video), in-depth personal interviews Advantages: •Pertains only to firm's research. •May provide insight into why and how consumers make choices. Disadvantages: •More expensive. •May be difficult to enlist customer participation. •May take excessive amount of time to collect. Examples of Use: •To understand what motivates consumers. •To determine the effect of variables (e.g., price) on product choice. •To gain feedback on company's existing and proposed products.

Primary data

Adding Value Segmentation Targeting Differentiation Positioning Pricing - High or Low Markup; need to support image Levels of Service marketers that they want to be successful they have to add value retailers have to do the same sort of thing retailers have to make segmentation and targeting decisions and they have to think in terms of who's our target market and what do we need to do to adapt to that target market in order to be successful that's selling to them retailers have to focus on differentiation and what can they do to stand apart that would entice and motivate consumers to visit them you take a you know a store like a whole food say for example and we see really all these things at play in in a Whole Foods you know but Whole Foods really has to differentiate themselves and we'll focus on very specific product line for a very specific type of consumer retailers have to make positioning decisions just like brands have to do we have to have a positioning strategy and make sure we're doing things that are one brand in the retail world in order to occupy a favorable place in the mind of the consumer and of course retailers have to make pricing decisions and what strategy they might go with Do they want to take a high low strategy like a like a Kohl's you know say for example where they frequently put things on sale retailers have to determine you know their costs of course and mark things up so not only can they pay the unexpected costs they might incur but also be profitable as well you know and so there's a variety of pricing schemes and strategies that retailers and they also have to understand that the pricing decisions they make have ripple effects in the areas of things like positioning differentiation who they target and those types of things are decisions I guess you'd say that are all kind of remove related lastly retailers have to think about customer service how much service do they want to provide how high touch do they want to be from malleable do they want their sales people to be so that way when a consumer has a question they can easily answer it for do they wanna cross train employees or do they want them to stick you know kind of their to their own wheelhouse and their own department you know say for example or do they want to train people so they know something about everything so that way of course when customers need support they can provide it and those service level decisions also have impacts in these other areas of marketing of course as well

Retail Marketing Decisions

Probability sampling ensures that every person in the target population has a chance of being selected, and the probability of each person being selected is known. •Simple random sampling = everyone in the target population has an equal chance of being selected. EX: name drawn from hat Nonprobability sampling does not attempt to ensure that every member of the target population has a chance of being selected. (element of judgement) •Quota sampling = firm chooses a certain number of participants based on selection criteria such as demographics. •Snowball sampling = firm selects participants based on the referral of other participants who know they have some knowledge of the subject in question.

Sampling

:data that has been collected for purposes other than answering the firm's particular research question. •Much less expensive than primary data, but may not shed light on the specific nuances of a firm's particular problem. Collection Method Examples: Literature reviews, online electronic searches, company records, marketing information systems, private research companies, boundary spanners (e.g., salespersons). Advantages: •Less expensive (often free). •Information typically readily accessible. Disadvantages: •Data may not be relevant. •Data may not be accurate. •Data may have been altered. •Data may contain bias. Examples of Use: •To gather macroeconomic data. •To gather socioeconomic data. •To obtain information about competitors. •To gain insight into international cultures and markets.

Secondary data

A: Provide unique services to customers. Employees are highly trained and knowledgeable. D: Services are perishable. Often customers need appointments to be seen, making service retailers sometimes inconvenient.

Service Retailers Advantages and Disadvantages

Primary data can be qualitative or quantitative in nature and can take the form of interviews, focus groups, observations, video recordings, questionnaires, surveys, or experiments. Secondary data can come from internal or external sources. •Internal secondary data are collected by the company (e.g., sales by product, information from loyalty cards, previous research reports, etc.). •External secondary data can come from many sources (e.g., Census Bureau, academic journals, business publications, commercial online databases).

Sources of Primary and Secondary Data

A: Offer a narrow variety but deep assortment of merchandise. Employ knowledgeable sales staff to assist customers. D: May charge higher prices. May not have the variety the customer is looking for.

Specialty Retailers Advantages and Disadvantages

Prospecting and qualifying are the lifeblood of the personal-selling process as firms are constantly seeking new customers for their business. Prospecting involves the search for potential customers—those who need or want a product and fit into a firm's target market. Qualifying prospects involves identifying which customers within the firm's target market have not only a desire for the product but also the authority to purchase it and the resources to pay for it.

Step 1: Prospecting and Qualifying

The pre-approach occurs before the actual personal-selling process. During this stage, sales professionals analyze all the information available to them about a prioritized and qualified prospect. By preparing in the pre-approach, salespeople signal to prospects that they are a professional salesperson who can likely be trusted. Developing a deep understanding of the prospect's situation, before ever meeting with the prospect, typically results in success because it allows the salesperson to enter the next stage armed with insightful questions and ideas.

Step 2: The Pre-Approach

The approach step includes the initial meeting between the salesperson and the prospect. During the approach, the sales professional meets and greets the prospect, provides an introduction, establishes a rapport that sets a foundation for the relationship, and asks open-ended questions to learn more about the prospect and his or her needs and wants. Ultimately, the customer must be convinced that the salesperson is offering something of value.

Step 3: The Approach

Analyzing qualitative data: •Coding is the process of assigning a word, phrase, or number to a selected portion of data so that it can later be easily sorted and summarized. •Can be challenging: results may be difficult to measure objectively and without bias. Analyzing quantitative data: •Almost always involves the use of statistical analysis, which is the mathematical classification, organization, presentation, and interpretation of numerical data. •Descriptive statistics are used to describe characteristics of the research data and study sample. •Inferential statistics are used to make inferences about a large group of people from a smaller sample.

Step 4: Data Analysis

The sales presentation provides a forum to convey the organization's marketing message to the prospect by doing the following: 1) explains value proposition 2) asserts advantages and benefits of product 3) enhances customer's knowledge of company and product 4) creates memorable experience

Step 4: The Presentation

Objections are the concerns or reasons potential customers offer for not buying a product. Common techniques for overcoming objections include: •Acknowledging the objection. "Yes, our prices are higher because our product is better." •Postponing. "We'll discuss the delivery option in a few minutes, but first let me ask about your needs in this area. . . ." •Denial. "That is not accurate. The truth is. . . ."

Step 5: Handling Objections

The culmination of the marketing research process is a formal, written report to decision makers. Research report findings should be presented in a clear and understandable manner. The research report should allow the marketing manager to solve the marketing problem or provide answers to the marketing manager's questions. Reports should communicate any limitations of the research.

Step 5: Taking Action

Closing the sale occurs at the point when the salesperson asks the prospect for the sale. Salespeople generally use one of the three major closing strategies that follow: •Summarization close. "As you have stated, you are seeking a product that will do the following. . . . Our product can sufficiently cover the requirements that you had mentioned. Would you like to finalize an order with us?" •Trial method close. "Would you be interested in trying the product for a few days before making a final decision?" •Assumptive close. "What date do you want those products delivered?"

Step 6: Closing the Sale

The follow-up stage is critical to creating customer satisfaction and building long-term relationships with customers. It includes the following: •Improving customer satisfaction: If the customer experienced problems with the firm's product, the salesperson can intervene and become a customer advocate to ensure satisfaction. •Promoting positive reviews: After the sale, customers often share their experiences with others. •Enhancing sales opportunities: Diligent follow-up can also lead to uncovering new customer needs or wants and securing additional purchases.

Step 7: Follow-Up

ADV: Provide customers with a one-stop shop for food, beverage, and many home goods. Are often very competitive on price. DISADV: Provide limited service to customers. Sometimes the shopping experience can be overwhelming to customers. Often in inconvenient locations.

Supercenter Advantages and Disadvantages

ADV: Offer a wide variety of food, beverage, and kitchen products. Offer customers a large assortment of perishable items that other retailers do not offer. DISADV: Provide limited service to customers. Can sometimes be in inconvenient locations.

Supermarkets Advantages and Disadvantages

The ultimate objective of supply chain management is to integrate related companies, thus facilitating the coordination of activities across the supply chain in a manner that improves the entire chain's performance. Individual firms integrate their activities to such a degree that they function as one organization. For an integrated supply chain to work, companies must be willing to embrace relationship-based strategies that involve close, long-term collaboration for mutual benefit.

Supply Chain Integration

A supply chain orientation is a management philosophy that guides the actions of company members toward the goal of actively managing the upstream and downstream flows of goods, services, finances, and information across the supply chain. Supply chain management refers to the actions the firm takes to coordinate the various flows within a supply chain.

Supply chain management

Franchise organizations variety of restaurants that kind of do the same thing like McDonald's say for example very few of the McDonald's restaurants are corporate owned they're owned as part of a franchise network and where you could list of course a number of them but the idea of being part of cooperative is that if I open that store right or I open McDonald's restaurant or something along those lines I get you know a few very important things that help me set up my business right should be immediate equity of being part of that particular brand I might get some operational tools access to supply chain that I would have to set up myself if I were going to be an independent retailer so I kind of get the ideally best of both worlds I get to be an independent business owner sort of right because I own that specific location but at the same time I get the benefit of being part of a larger network of you know stores or restaurants or something along those lines and that c ian be beneficial of course to a retailer that's still a little Thunder from this of course as well and kind of talked about those systems and tools and brand recognition you know so being part of a franchise of course can be really important to those retailers as well

Systems and tools Brand recognition

Changing Environment: For salespeople, few things remain constant. New products and solutions are common, requiring that salespeople invest much of their time learning and building product knowledge. Competitive Environment: One reason that the sales environment changes so fast is because almost all sales situations are characterized by competitors vying for the same business from customers. Complex Environment: Sales environments are also increasingly complex. Complexity is driven by both change and competition. the personal selling environment of course is changing in a variety of ways right you know one of the really large ways that it's changing is the access to information that customers now have right oftentimes when they encounter a salesperson if you think about something like buying a car you know say for example and we walk on to that dealership lot and we're dealing now with the car sales person chances are that customer has already done some research into brands and models and things like that they know the prices that you know many other dealerships might have it's a very dynamic pricing type of environment and so consumers coming quick with a wide array of information and so you know sales people have to realize that of course going in you know and be able to adapt of course to that environment this world of sales is very competitive as well whether I'm a salesperson representing a company and I might deal with a retailer as my customer or whether I'm you know a salesperson interacting with the customer you know there's a lot of competition for the consumers business and or that retailers business and so we have to know you know of course that it's very competitive and and so dealing with those pressures and being able to adapt to them is enormously important in the selling function

The Personal-Selling Environment

Supply chains add value to products (availability, manufacturing, packaging, etc.) as they move downstream and return value (payment, feedback, product development, etc.) that moves upstream. •Production costs: Supply chains reduce production costs by streamlining processes. •Location: Supply chains add value through better logistics (movement of goods). •Time: Supply chains add value by reducing how long it takes upstream and downstream flows to occur. •Control: Supply chains add value by allowing firms better oversight of upstream and downstream flows. case everyone we partner up with should add value to that supply chain because we talked about efficiency and how important that is so everyone who we partner up with needs to add value somewhere along the way so our raw material suppliers hopefully are good at sourcing those raw materials that we might need and they do a good job of getting them in the hands the logistics provider right who's going to handle those raw materials in order to get them to our product manufacturer right we want to partner up with people who are going to add value all the way along the supply chain

The Value of the Supply Chain

independent variable

The causal variable in a study controlled by the researcher used to influence changes in another variable.

dependent variable

The test or outcome variable in a study that is influenced by changes in another variable.

•Internal validity is the extent to which changes in the outcome variable were actually caused by manipulations of the independent variable conditions. •External validity is the extent to which the results of the experiment can be generalized beyond the study sample of subjects.

Two measures of validity:

Within the supply chain are various marketing channels—supply chain intermediaries, including wholesalers, distributors, and retailers, through which the flow of products travel. •Retailer - A company that purchases and resells products to consumers for their personal or family use. •Wholesaler - A firm that buys large quantities of goods from various producers or vendors, warehouses them, and resells them to retailers or other businesses. •Distributor - Buys noncompeting products, warehouses them, and resells them to retailers or directly to end users. EX: Dr. Pepper Snapple Group example

Types of Marketing Channels

Usually experimental research means investigating how a change in an independent variable might cause changes in one or more dependent variables.

Usually experimental research means investigating how a change in an independent variable might cause changes in one or more dependent variables.

ADV: Offer customers the opportunity to buy merchandise in bulk at discount prices. DISADV: Provide limited service to customers. Sometimes inventory is inconsistent.

Warehouse Retailers Advantages and Disadvantages

When we refer to supply chain oftentimes you'll hear the word channel thrown around and channel just refers to a route that we use to reach the consumer so we can have a traditional sort of supply chain route where we sell through retailers we can have a supply chain where we produce things ourselves or maybe we contract that out but whatever that route looks like that's the supply chain we're using in order to reach the consumer

When we refer to supply chain oftentimes you'll hear the word channel thrown around and channel just refers to a route that we use to reach the consumer so we can have a traditional sort of supply chain route where we sell through retailers we can have a supply chain where we produce things ourselves or maybe we contract that out but whatever that route looks like that's the supply chain we're using in order to reach the consumer

Wholesaling is the sale of goods or merchandise to retailers; industrial, commercial, institutional, or other professional business users; or other wholesalers. A wholesaler is a firm that sells goods to anyone other than an end-consumer. Some large retailers act as both a wholesaler and a retailer (e.g., Costco).

Wholesaling

intensive distribution

a distribution strategy that involves placing a product in as many outlets as possible. •Example: Coca-Cola products.

exclusive distribution exclusive distribution is when we have a lack of a better way to put it exclusivity with our products now we can take a completely exclusive distribution type of approach where as a retailer we might only deal with our products right if you take something like an ALDI say for example you know 90% of the products that they sell are things that we can't typically find anywhere else there's a lot of private label products you know that type of thing where we can take more of a limited approach to exclusive distribution or we might have certain models or styles or something like that that you can only find that our retail store or on our website or something along those lines

a low-volume distribution strategy in which products are sold through very limited channels. •Example: Nike sneakers sold exclusively at Foot Locker, automobile manufacturers

supply chain integral part of most businesses and it's essential to company success and overall customer satisfaction for marketing of course we care about customer satisfaction obviously because we want repeat customers we want loyal customers we want customer advocates so it's supply chain management can can do a very good job and play key role in boosting customer service because customers expect the correct product you know to be delivered in the quantities would be available when they want them we want them to the right in the right location at the right time and of course we expect the products and service after the sale is going to occur and kind of be delivered quickly the management of upstream and downstream flows of goods and services to end user

a set of three or more companies directly linked by one or more of the upstream and downstream flows of products, services, finances, and information from a source to a customer.

tying agreements we sell three different products and product a is hot it sells really well we go to our retailers and we say if you want to continue to sell product a in your stores we are going to ask you to take either product B or C or B&C if you want to continue to sell this really popular product that's generating traffic in your stores and that sort of thing you got to take other parts of our product line other products that we offer and so a tying agreement essentially links those two products in this case B and C2 product

agreements where the dealer must take most or all of the line

E-tailer ecommerce and that sort of thing just in order to give it you know its own category of course allow consumers to buy and have the convenience of ordering online and having it delivered or ordering online and having it shipped to a location where we might be able to pick it up right and so that can be very beneficial and really is at this point kind of like the fastest growing retail category you know and you can look at you know census data and the Bureau of Labor and statistics and that sort of thing and they keep a wide amount of of course data and it's not too hard to to to dig into those retailing numbers and find the new retailers have really grown in the past several years again and look at you know the COVID pandemic and say well that makes sense right because there's a large number of consumers that don't want to visit stores anymore than what they have to but quite frankly E retailing and ecommerce was really growing up in a rapid pace prior to the pandemic but of course it accelerated it as well

allow customers to shop for and buy products online (or via a mobile device) for home delivery. •Amazon, Everlane.

selective distribution when and it's similar I guess you'd say to exclusive distribution that selective distribution is where we really sort of limit the approach and might be difficult in some ways to find you know say for example like let's take a restaurant like the rainforest cafe right we don't find those in very many places it's a very selective distribution type of approach it's major touristy areas and and that type of thing would it do well you know if we had a few more restaurants in a variety of areas or something along those lines You know arguably there would still be customers that might be interested in coming to a rainforest cafe we we tend to only find those in very sort of selective areas in major metropolitan areas areas where tourism is very high you know and so quite frankly if we make it really kind of selective the idea is that it makes it kind of very unique and from a positioning standpoint it might make it highly experiential or you know something along those lines right we could think too about um retailers like I'm italicize I just lost my train of thought but we could think of of retailers that just have very very few outlets that make it very you know kind of exclusive in a way that we can only find them in in a few places right the idea behind selective distribution quite frankly is that if we have a brand image I know what I was I apologize but in losing my train of thought and I just kind of regained it but if you think of really high end car brands right like lamborghinis and Ferraris and Rolls Royce and that sort of thing right they have a very selective distribution approach not very many dealerships around we if we want to buy one of those types of cars you have to work pretty hard in order to kind of find one of them and maybe travel a bit right but that kind of selective distribution approach really helps support that brand image right because if they took more of an intensive approach right and we could find them sort of all over the place well then arguably we may see more of them on the road and it kind of would rob a little bit of that premium status that that brand image really carries

allows brands to sell through fewer channels but still capture economies of scale in production. •Example: Most apparel brands, iPhones, Rainforest Cafe, Lambos, Ferraris, Rolls Royce

specialty retailers beauty stores like beauty brands or specialty retailers like sporting goods stores and those types of things where they focus on one niche or there might be a wide cross section of things I think like a bass pro shops or you know something along those lines they're still specialty retailers even though they're very very big so they come in all shapes and sizes and that's kind of part of the point that I'm trying to make here

concentrate on a specific product category. •Sephora.

marketing channel

consists of firms that have partnered for their common good with each member playing a specialized role

pull strategy wait for customer orders to be placed (wait for interest) say I'm a manufacturer of custom made bicycles racing physical stuff something along those lines right I customize the product in order to hopefully boost the overall satisfaction to my to my customer in the end right but I'm going to wait until I receive an order before I produce that product and so the full strategy kind of works in reverse

customer orders drive manufacturing and distribution operations. Ex: Boeing

don't sell your product solve their problem in other words don't necessarily push your product but you know train further the idea or persuade the customer to see how your product might solve their problem if that makes sense right because at the end of the day we as consumers whether we're being sold to you know actively in a personal selling sort of situation or if we're you know maybe persuaded or motivated to do something what we're seeking is benefits we're seeking solutions we're seeking to fill needs of course and before we wrap this all up I'll come back to that idea at the end of the day right selling it done well is more focusing on the idea of finding the right match between prospect meaning someone we're trying to sell to and a product or service that's going to again solve their problem

don't sell your product solve their problem in other words don't necessarily push your product but you know train further the idea or persuade the customer to see how your product might solve their problem if that makes sense right because at the end of the day we as consumers whether we're being sold to you know actively in a personal selling sort of situation or if we're you know maybe persuaded or motivated to do something what we're seeking is benefits we're seeking solutions we're seeking to fill needs of course and before we wrap this all up I'll come back to that idea at the end of the day right selling it done well is more focusing on the idea of finding the right match between prospect meaning someone we're trying to sell to and a product or service that's going to again solve their problem

the *same level of the supply chain* so again we have our ladder or our staircase and let's say we have a business like McDonald's say for example and at the restaurant level at the store level we have disagreement or conflict that can occur that is going to impact overall customer satisfaction so in a city or a town that has more than one McDonald's say for example if one of them does a really poor job of representing the brand customer service is bad the restaurant is dirty there's long delays and that type of thing that might happen when a customer places their order until they get their food and that affects sales at the McDonald's across town that could be an example of horizontal conflict if two businesses that are hotels are fighting with one another so to speak and competing for customers that are going to stay in the hotel and they're part of the same brand part of the same company and there's that direct competition through pricing or whatever it might be that would be an example of horizontal conflict same level of the supply chain as horizontal conflict between levels of supply chain is vertical conflict

horizontal conflict

-Two stand alone join forces -Similarity to co-branding -Benefits? kind of like a business partnership right we start off with an example that hopefully will make sense we see fast food restaurants and gas stations kind of sharing a building and sharing a location right and the idea there is if this fast food restaurant brings in certain customers hopefully the gas station benefits I've stopped in to buy a hamburger and French fries but I'm also gonna get some gas and a lottery ticket or whatever it might be right and so the benefits to those two businesses is to put traffic in one from one can help stimulate the foot traffic for the other this is also you know a partnership that can work the other way as well if one business does a very poor job of you know servicing the customer if our gas station is you know out of stock for of a lot of things they're poorly staffed it's bad customer service it's dirty it's you know a poor experience to stop there you might find customers saying I'm not going to stop at that gas station and they might avoid the restaurant as well as a result of it they're gonna go to a different gas station and maybe a different fast food restaurant if they were customer you know would be customers in that particular case horizontal marketing systems are sitting at the same level of the supply chain you know our gas station even though they're not in direct competition with one another that conflict can occur there of course as well

horizontal marketing system

push strategy generally relies on sales forecasts we look at a forecast and we say we can expect to sell about this many of our product and so the focus is on pushing those quantities into the hands of the retailers or supply chain partners that need to be into that they need to be into in order to reach the consumer convention so we operate off the forecast and we push those orders out a lot of consumer product goods right food items or something like that we might buy in a grocery store is an example of a company that follows a push strategy we're operating off a sales forecast right and we have maybe certain seasonal demands that might happen around holidays and that sort of thing which would lead to increased quantities and so we might have to ramp up production to push those products

in which a company builds goods based on a sales forecast, puts those goods into storage, and waits for a customer to order the product through the marketing channel. Ex: snack industry

relationship selling the new or newer focus the more sustainable focus on selling is really on the idea of again building a relationship focusing on the idea that we want to understand anyone we might be selling to kind of like their needs the problems they're basing their pain points quite frankly and sale? solutions

involves building a trusting relationship with a customer over multiple sales interactions

supermarket

large, self-service retailers concentrating on supplying a wide variety of food, beverage, and kitchen products. EX: Kroger, Publix, Stop & Shop, Safeway.

direct marketing channel

marketing channel in which products travel directly from the producer to the consumer

indirect marketing channel

marketing channel in which supply chain intermediaries, such as wholesalers, distributors, and retailers, are a part of the product's sale and delivery

service retailer wide variety of services and what differentiates these retailers is that they sell intangible or experiential items not necessarily tangible goods and so the service retailers really have to focus on the idea of that level of service we're going to provide so that way we can differentiate ourselves from the competition

mostly sell services rather than merchandise . •Salons and spas, banks, automotive repair, yoga studios, oil change, hair cutting places, automotive service shops

*KNOW GRAPH* we design our marketing channels our routes to reach the customer needs to be based on the end users that are part of our target market in this particular case we're a producer of goods and we're selling to two consumer segments and we're selling to two business segments we design the supply chain to meet the needs of that end user so in this case we're selling direct to consumer because that's how these consumers prefer but in this case we're selling through retailers because they're part of our target market and they like to shop in stores or online or something like that to buy their goods and so we designed that supply chain that way same is true for these business segments these businesses prefer to be called called on by a salesperson who visits them and you know consults with them and finds out their needs and tries to fill them and satisfy them whereas these folks for one reason or another buy through a supply chain where they're just distributor and a dealer and then that is the flow through in order to get our products in the hands of those businesses many companies now operate off of multi channel distribution system and I made reference to our hypothetical company where we sell through retailers and we sell direct to consumer it's this idea that I was trying to convey we when we construct these supply chain channels the strategy for them and the things that are needed in order to satisfy consumers have to be taken into account and we have to do kind of this cost benefit analysis to determine whether or not it's going to be profitable for us to operate a multi channel distribution system but in order to get you know maybe proper market coverage or service the needs of a couple different market segments we might have to design a couple different channels marketing world you know the business world nowadays a lot of businesses as I said before operate with a multi channel sort of approach and so the support that's needed and the strategy you know needs to work along with that again in order to satisfy these different market segments

multi-channel distribution systems

Non-store retailing involves the selling of goods and services outside the limitations of a retail facility. •Direct selling involves salespeople interacting with customers directly, usually at home, work, or at an organized "party." •Vending machines dispense merchandise to consumers via an automated vending machine. •Television home shopping allows customers to see a product demonstrated on television and purchase the product by calling a number or purchasing online. •Kiosks offer a temporary, inexpensive, moveable format; found in malls, airports, sporting events, and even within traditional retail stores.

non-store retailing

convenience retailers easy to get in and out right and so we can stop in there without having to deal with too many crowds or hassles of parking or whatever it might be

offer a limited variety and assortment of merchandise, usually snack foods and minor essentials, at an easily accessible location. 7-Eleven, Speedway, Cumberland Farms, Sunoco, Pilot.

department stores variety of goods and maybe some depth and in some of those areas of course and they offer you know kind of like a shopping experience that is unique in some way because we might offer certain discounts to certain types of consumers that that type of thing

offer a wide range of products displayed as a collection of smaller "departments" within the store. •J.C. Penney, Macy's, Dillards

off-price retailers offer benefits to consumers because they buy things on close outs and liquidated items that they can offer you know products to consumers at a discount because they purchased them at a discount and they engage in like this opportunistic buying they might buy last year's styles or damaged merchandise that didn't pass quality control check they offer a real discount to consumers and thereby offering you know value to them but what the merchandise that they have is relatively inconsistent from one month to the next

offer an inconsistent variety and assortment of branded products. •TJ Maxx.

warehouse retailers (club retailers) we have to adapt to buying and you know maybe larger quantities than what we might be used to we're going to show up those club retailers or those their warehouse retailers

offer food and general merchandise products usually in larger quantities and discounted prices. •Costco, Sam's

supercenter

offer traditional grocery items as well as apparel, beauty products, home goods, toys, hardware, electronics, and various other merchandise. EX: Walmart Supercenters and Target Supercenters.

drug store we don't have as many you know kind of like small town or small chain drug stores is what we once did and a lot of those larger companies like the Walgreens of the world are kind of pushing those businesses out but of course they you know are known for being on pharmaceutical resale shop you know filling prescriptions and that sort of thing but they're offering additional services and additional product lines as well and can offer convenience to consumers to be able to get in and out to buy a couple of things say for example that they primarily stick in that wheelhouse of things health oriented Wellness oriented selling prescription drugs and over the counter medication of course and that type of thing

primarily sell pharmaceuticals, health and wellness products, over the counter medicines, beauty products, as well as a limited assortment of food and beverages. •Walgreens, Rite-Aid, and CVS.

prospecting we're looking for prospects and focusing on qualifying those prospects and the idea is you know in the end of finding the right individual somebody with a need for the product somebody with the authority to buy the product and somebody with the you know money to buy the product as well those are three kind of important qualification steps because we you know if we can answer all those questions and we know we're meeting with the right person right in the interest of being efficient with our time and targeting the right type of customer or the right type of prospect we want to be able to qualify that person

prospecting we're looking for prospects and focusing on qualifying those prospects and the idea is you know in the end of finding the right individual somebody with a need for the product somebody with the authority to buy the product and somebody with the you know money to buy the product as well those are three kind of important qualification steps because we you know if we can answer all those questions and we know we're meeting with the right person right in the interest of being efficient with our time and targeting the right type of customer or the right type of prospect we want to be able to qualify that person

qualities of things Research that studies the qualities of things; characterized by in-depth, open-ended examination of a small sample size, like in-depth interviews or focus groups. Includes exploratory research: •Interview. •Focus group. •Observation. These methods can provide researchers a great deal of insight, but they don't always allow researchers to draw generalized conclusions about the larger consumer population. A: •Uncovers details concerning the motivations behind behaviors. •Is not limited to a predetermined set of responses. •Can be a good way to start research into a marketing problem. •Can be very flexible in approach. •Can be used to generate marketing ideas. D: •Results may be difficult to measure objectively. •Research can take longer than quantitative methods. •Potential for researcher bias. •Individual participants may not represent general target market. Small sample size.

qualitative research

quantities of things Research that studies the quantity of things; characterized by asking a smaller number of specific and measurable questions to a significantly larger sample size. To collect the necessary data to achieve their research objective, companies often turn to quantitative research: •Surveys. •Experiments. •Mathematical modeling. A: •Results may be generalizable to a larger population. •Some methods can be conducted quickly and inexpensively. •Analysis of data can be faster than in qualitative research. •Can conduct causal studies that indicate why behaviors occur. •Can be cost effective. •Often convenient for respondent. D: •May be limited by researchers' questions. •Response rates can be very low. •Difficult to determine nonresponse bias. •Possible respondent self-selection bias. •Participant resistance to giving sensitive information.

quantitative research

channel conflict

refers to disagreement over goals, roles, and rewards by channel members

supply chain management

refers to the actions the firm takes to coordinate the various flows within a supply chain.

distribution intensity

refers to the number of outlets a marketer chooses to sell through.

push-pull strategy Nike or some just focusing on footwear for a second right they have sales forecast for certain models of shoes that they make and they produce those quantities in order to get them in the hands of consumers make them available when they want them an idea also offers the opportunity to customize your shoe right and so they don't just sit there with different varieties of customer shoes they wait till the order is placed and then that generates the manufacturer and so marketing strategies and supply chain strategies that are associated with it typically follow one of these three

some channel partners operate on a push system, but completion of the product is based on a pull system. Ex: Dell

marketing research Marketing research has become more important, and more complicated, as markets continue to become globalized and product life cycles become shorter. Firms must generate timely information, interpret it quickly, and take action before the competition does.

the act of collecting, interpreting, and reporting information concerning a clearly defined marketing problem.

downstream flow downstream refers to everything from the fixed point in the supply chain toward the consumer or towards the business if the business happens to be buying these products and services

the movement of goods (and other things, like information, promotion, etc.) toward the final customer.

upstream flow upstream refers to everything from a fixed point in the supply chain backward

the movement of payment (and other things, like information, returns, etc.) from the customer toward the manufacturer and others in the supply chain.

the pre approach you know I want to focus on that for a second right this is kind of like the planning stage we're kind of looking for is collecting information if we're selling to a business say for example and we're engaged in B to B sales business to business sales what we want to focus on is the idea of what what can we learn about the company maybe what they've you know been through in the last couple of years or where they're going right what direction they're going are they growing or are they you know kind of maintaining the status quo you know something along those lines and how might we best present our product or service to meet the needs of that individual business it might seem relatively straightforward but it's a really complicated process quite frankly the whole implication and planning and strategizing at this step right before interacting with that customer is all about you know trying to make sure we give ourselves the best shot at being successful at making that sale in the end and so that pre approaches the necessary step of strategizing and coming up with sort of tactics and being armed with information that we can then leverage in order to be more successful that's only

the pre approach you know I want to focus on that for a second right this is kind of like the planning stage we're kind of looking for is collecting information if we're selling to a business say for example and we're engaged in B to B sales business to business sales what we want to focus on is the idea of what what can we learn about the company maybe what they've you know been through in the last couple of years or where they're going right what direction they're going are they growing or are they you know kind of maintaining the status quo you know something along those lines and how might we best present our product or service to meet the needs of that individual business it might seem relatively straightforward but it's a really complicated process quite frankly the whole implication and planning and strategizing at this step right before interacting with that customer is all about you know trying to make sure we give ourselves the best shot at being successful at making that sale in the end and so that pre approaches the necessary step of strategizing and coming up with sort of tactics and being armed with information that we can then leverage in order to be more successful that's only

sampling

the process of selecting a subset of the population that is representative of the whole target population

personal selling In all sales situations, the goal of selling is to develop good customer relationships In today's information-rich world, the role of personal selling is more important than ever

the two-way flow of communication between a salesperson and a customer that is paid for by the firm and seeks to influence the customer's purchase decision

if you think of a supply chain I'm gonna invite you to think of it like a ladder you know say for example where a staircase right we have the first step all the way up to the top step or the first rung all the way up to the top our supply chain you know would then operate like a a ladder or a staircase there at the first round of that supply chain if we have products that are produced by contracting parties we don't produce them ourselves vertical conflict could occur between those steps and the supply chain so let me take a step back and say that if we produce the products ourselves that's kind of one look of the supply chain but for our purposes for our example we're going to say we contract that business out and so we have a raw material supplier who then sources raw materials and ships them to our manufacturer our manufacturer then produces those finished goods which eventually hopefully reach the consumer if there's fighting and conflict between our manufacturer and our raw material supplier that's going to be vertical conflict so it's different steps in the supply chain where conflict occurs is an example of vertical conflict OK that conflict doesn't necessarily have to be fighting but it could just be disagreement disruption or delays or something along those lines that makes it difficult for the next step in the supply chain to perform their job

vertical conflict

Contractual vertical marketing system •Independent - different levels of production and/or distribution •Economies of scale/sales •Franchise Advantages? franchises are an example of a contractual vertical marketing system where these businesses might offer that would be small business owner and entrepreneur to buy into the franchise to open one of these locations the franchisee gets the benefit of the brand that has been built up they also maybe get access to supply chain and so that helps cut down on learning curve for the business and build the marketing and that type of thing to help build the business of franchises can offer this idea of economies of scale we're already part of a big operation we've already negotiated prices from our suppliers and so opening new franchises builds that scale of operation it also benefits the franchisee because they get access to those negotiated prices and so that economy of scale and having a more economic word efficient system as a result of buying into a franchise can be advantageous it also comes with a couple disadvantages of course as well most notably the idea that we're bound by a franchise agreement if I want to open a McDonald's say for example I buy into the franchise and I get the benefit of those tools that we manage the business and access to the supply chain that's all well and good but when McDonald tells me it's time to take mcrib off the menu it doesn't matter what I want to do it's time to you know change my operation in order to meet the demand or the you know the stipulation that the parent organization or McDonald's corporate is telling me at this point in time I also have to pay franchise fees you know not necessarily just the startup fee but I gotta pay other fees as well per my franchise agreement perhaps maybe that's a portion of sales or something along those lines and so this vertical marketing system is nice because it gives the company McDonald's corporate in this case franchisees who opened McDonald's locations they manage those businesses as though their own business and McDonald's corporate gets more market coverage as a brand without having to manage the day-to-day operations of those businesses

vertical marketing system

we are a company right and as a company we produce products that we sell through retail outlets maybe we sell some direct consumer but we sell them eventually to the end user or the consumer we don't produce these products ourselves we have supply chain partners we have places where we go to source raw materials we have places where those raw materials are assembled into our finished product and then we have a supply chain partner that provides transportation of those finished goods once the manufacturer is done in this case our upstream partners are going to be the raw material suppliers that manufacturer with contract with and their transportation company who help to distribute those particular products downstream we as the company where that fixed point in the supply chain downstream then would refer to how we get those products in the hands of the user and mentioned you know we sell some direct to consumer so any operations associated with the direct sale to the consumer is part of that downstream flow the retail partners we have said we have 345 whatever they might be retail partners that have customers that come into their store and buy these products they're part of our downstream supply chain and of course the consumer themselves are part of the supply chain

we are a company right and as a company we produce products that we sell through retail outlets maybe we sell some direct consumer but we sell them eventually to the end user or the consumer we don't produce these products ourselves we have supply chain partners we have places where we go to source raw materials we have places where those raw materials are assembled into our finished product and then we have a supply chain partner that provides transportation of those finished goods once the manufacturer is done in this case our upstream partners are going to be the raw material suppliers that manufacturer with contract with and their transportation company who help to distribute those particular products downstream we as the company where that fixed point in the supply chain downstream then would refer to how we get those products in the hands of the user and mentioned you know we sell some direct to consumer so any operations associated with the direct sale to the consumer is part of that downstream flow the retail partners we have said we have 345 whatever they might be retail partners that have customers that come into their store and buy these products they're part of our downstream supply chain and of course the consumer themselves are part of the supply chain

we want to make sure we're targeting the right type consumer and I'll come back to that in a moment we wanna be able to plan in advance of that sales interaction really what the pre approach is all about the approach itself is that that selling you know kind of interaction it's asking questions of the consumers getting them talking so they can talk about their needs and the problems that they face and naturally progressing from that we move to a presentation of here's a description of my product the benefits that it offers and hopefully bridges back to the idea of how it can solve your needs right after that presentation there is going to be what's called objections which is really questions that that customer might raise it might be that customer that potential customer going so far as saying I don't you know I don't like your product I don't want your product right we know that there's gonna be pushback in in selling right oftentimes more often it's a you know general rule of thumb that we're going to encounter some sort of objection and so being able to anticipate maybe with that objection might be and being ready with a response or at least having collected our thoughts to think when they tell me they don't like something about it how am I going to respond you know is something that a salesperson wants to think about in advance seeming we've successfully overcome those objections we move towards the idea of closing the sale signing on the dotted line you know and making a strong buy recommendation and then assuming a sale is done you know following up service after the sale is very important because we're focusing on building relationships

we want to make sure we're targeting the right type consumer and I'll come back to that in a moment we wanna be able to plan in advance of that sales interaction really what the pre approach is all about the approach itself is that that selling you know kind of interaction it's asking questions of the consumers getting them talking so they can talk about their needs and the problems that they face and naturally progressing from that we move to a presentation of here's a description of my product the benefits that it offers and hopefully bridges back to the idea of how it can solve your needs right after that presentation there is going to be what's called objections which is really questions that that customer might raise it might be that customer that potential customer going so far as saying I don't you know I don't like your product I don't want your product right we know that there's gonna be pushback in in selling right oftentimes more often it's a you know general rule of thumb that we're going to encounter some sort of objection and so being able to anticipate maybe with that objection might be and being ready with a response or at least having collected our thoughts to think when they tell me they don't like something about it how am I going to respond you know is something that a salesperson wants to think about in advance seeming we've successfully overcome those objections we move towards the idea of closing the sale signing on the dotted line you know and making a strong buy recommendation and then assuming a sale is done you know following up service after the sale is very important because we're focusing on building relationships

we're ever selling anything we're trying to persuade people what we wanna focus on is a kind of bottom line what are the benefits that this person is going to read as a result of buying this particular product or service right or supporting an idea right what are they going to get out of it what problems is it gonna solve what needs and value is it gonna provide

we're ever selling anything we're trying to persuade people what we wanna focus on is a kind of bottom line what are the benefits that this person is going to read as a result of buying this particular product or service right or supporting an idea right what are they going to get out of it what problems is it gonna solve what needs and value is it gonna provide

exclusive dealing is when a producer might go to a retail partner and say if you're going to sell our products and our products sell well we want you to not sell our competitors products and if you do sell our competitors products that's going to violate the exclusivity of our deal and we see retailers nowadays offering you know exclusivity as far as certain manufacturers there might be a particular style of genes or a particular brand of genes but you can only buy at Target you know say for example that's an example of exclusive dealing you're going to use our products and sell our products and you get that kind of exclusivity

when the seller requires that the sellers not handle competitor's products

Exclusive territorial agreements

where producer or seller limit territory