Briefly explain these questions below A Marketing channels V

Briefly explain these questions below.

A. Marketing channels VS Changes in technology (online marketing)

B. Vertical marketing system (VMS) VS Conventional marketing system

C. Levels of service that retailers can offer

Solution

A.Marketing channels are the way that products are made available to the customers. It is also known as distribution channel. It includes the process of selling and delivering the product to consumers.

Online marketing is one of the most powerful tools which is used for promoting the products or services through internet. Online marketing have a wide range of marketing elements than traditional marketing channel. Following online marking channels are:

Change in technology - Technology has changed in every aspect of the way business operates. Technology has a greater impact on marketing. Today, customers are more integrated with marketing information.

Technology has impacted to the organization: ability to collect the marketing data, channels use to reach the customers, the process of developing advertising strategies etc. Organizations have more marketing formats and online channels to communicate with the customers such as social media, search engines, blogs etc.

As a marketer considering the impact of technology, it is important to have relevant options and channels to communicate with prospective and existing customers like social networks, search engine results, mobile or tablet adds, blog post, online review and ratings, online video contents.

B. Vertical marketing system (VMS) VS Conventional marketing system -

1. Ownership or control - In vertical marketing system, one member owns or control and coordinate the activities of other members in the channel whereas in Conventional marketing system consists one or more manufacturers, distributors and retailers that operate under independent ownership.

2. Cooperation - In conventional marketing system each member focuses on minimizing costs and maximizing its own profits whereas members in vertical marketing system recognize the nature of relationship between all channel members and aims to maximize benefits through cooperation.

3.Responsibility- In Conventional marketing channels, each channel member have limited responsibility as Manufacturers focus on producing products while retailers focus on selling products to the customers. In vertical marketing system, majority of responsibility fall on one channel member.

4. Efficiency - Vertical marketing channel is more efficient in contrast to conventional marketing channel as each stage of the supply chain is optimizes itself.

C. To attract customers retailers not only offer desirable products and affordable price but also by offering services that enhance the purchase. Following services are offered by the retailers are: