What are the different functions of the members of a marketing channel?
What will be an ideal response?
Members of a marketing channel perform many key functions. Some help to complete transactions, which include:
Information: Gathering and distributing information about consumers, producers, and other actors and forces in the marketing environment needed for planning and aiding exchange.
Promotion: Developing and spreading persuasive communications about an offer.
Contact: Finding and communicating with prospective buyers.
Matching: Shaping offers to meet the buyer's needs, including activities such as manufacturing, grading, assembling, and packaging.
Negotiation: Reaching an agreement on price and other terms so that ownership or possession can be transferred.
Others help to fulfill the completed transactions, such as:
Physical distribution: Transporting and storing goods.
Financing: Acquiring and using funds to cover the costs of the channel work.
Risk taking: Assuming the risks of carrying out the channel work.
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