- Market place - where all the buyers and sellers come together to trade. Traditional markets have been replaced by online markets and supermarkets have reduced the number of independent shops
- Channel of distribution - This describes how the ownership of a product passes from the producer to the final consumer
- Producer / manufacturer - This is the company that makes the goods from the raw materials e.g. Cadbury's supply chocolate bars and Direct Line provide insurance cover.
- Wholesaler - These businesses break bulk quantities. They buy in large quantities from a producer and sell in smaller quantities to a retailer
- Retailer - These are shops that sell direct to customers / consumers
- Consumer - These are the end user , or the person buying the product or service. The buyer may not always be the user and vice versa!
- e-commerce - direct marketing - transactions carried out between consumers and businesses entire;y over the internet
- Direct marketing - This occurs when there is a direct link from the producer to the consumer with no intermediaries. Examples of this include, mail order, telesales, online selling.
- Intermediaries - these are the different levels that are involved in the distribution chain. Each level will wish to make a profit out of handling the goods
- International markets - these are customers overseas and small start up businesses can now trade globally because of e-commerce. Companies however small can now reach all parts of the global marketplace through the creation of websites and online marketplaces such as Amazon and Ebay.
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Promoting a product how well did Levi Roots do click here
Above and below the line
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Web based activity
- The marketing mix is the m
Quick Quiz 14 Marketing mix elements and promotion
- Describe 'above the line' promotion.
- Describe 'below the line' promotion.
- Name the two parts to promotion
- Name three sponsored events
- Name the three main factors that make for a suitable promotion
- What is meant by 'reach'?
- Give one benefit from advertising in a local newspaper.
- Why are postcodes important to a small business?
- How would a business judge if a promotion had been effective?
- What does AIDA stand for?
Nine mark questions