List and briefly describe the major channel functions

What will be an ideal response?

a. Marketing research – because channel members often have direct contact with customers, it is an ideal situation for collecting information about customers and competitor behavior.
b. Communications – an important role of the channels is to communicate information about the product or service to customers.
c. Contact – some channel members seek out and interact with customers. Independent agents and wholesalers develop retail accounts for products.
d. Matching/customizing – a valuable service provided by the channels is matching or attempting to tailor the product to a customer's needs.
e. Negotiation – in many cases, channels also negotiate price.
f. Physical distribution – for product with physical characteristics, channels also provide basic logistical services.
g. Financing – for durable goods such as TV and video cameras, an advantage of using a retail system is that the burden of financing falls on the retailers rather than the manufacturers.
h. Risk-taking – when the distribution system is characterized by channel members purchasing and therefore taking title to a product, risk is shifted from the manufacturer to the channel member.
i. Service – channels can also provide repair service, answer customers' questions about how to use the product, and provide warranty support.
j. Relationship management – the channel member can enhance (or harm) the quality of the relationship between the selling firm and the customer.
k. Product assembly – for some products, the channel may actually be part of the manufacturing process, performing assembly or other "finishing" parts of the process.