Physical distribution is a term used to describe the methods and means by which a product or a group of products are physically transferred‚ or distributed‚ from their point of production to the point at which they are made available to the final customer.(Rushton at el 2010) In other words is the set of activities concerned with efficient movement of finished goods from the end of the production operation to the consumer. Physical distribution takes place within numerous wholesaling and retailing
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DISTRIBUTION DEFINITION A distribution channel is a set of independent organizations involved in the process of making a product or service available to the consumer or a business user. IMPORTANCE OF DISTRIBUTION CHANNELS The main function of a distribution channel is to provide a link between production and consumption. Organisations that form any particular distribution channel perform many key functions: Information Gathering and distributing market research and intelligence - important
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Distribution Channel The marketing mix is composed of all the elements of a successful marketing process including price‚ packaging‚ product and place. And while everything is important‚ it is the distribution channel that finally makes the product available to the customer and hence makes an integral part of the marketing mix. The distribution channel refers to the ways the product reaches the shelves. And this may include retailers and wholesalers and sometimes the manufacturers themselves (Lamb
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DISTRIBUTION MANAGEMENT CH1: MARKETING CHANNEL CONCEPTS Growing Importance of Marketing Channels: 1. Explosion of IT and E-commerce 2. Harder to gain sustainable competitive advantage through other P’s 3. Growing power of distributors (esp. retailers who act as gatekeepers of consumer markets – agents of consumers not producers) 4. Need to reduce distribution costs MC Definition: The external contactual organisation that management operates to achieve its distribution
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perform a distribution function. The distribution function is vital to the economic well-being of society because it provides the goods and services desired by the consumer. Economists often describe the value of distribution in terms of ownership‚ place‚ and time utility. The marketer contributes to the product’s value by getting it to the right place at the time the consumer wants to buy it and by providing the mechanism for transferring ownership. Firms that do not perform the distribution function
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expected average outcome over many observations.The common symbol for the mean (also known as the expected value of X) is ‚ formally defined by Variance - The variance of a discrete random variable X measures the spread‚ or variability‚ of the distribution‚ and is defined by The standard deviation is the square root of the variance. Expectation - The expected value (or mean) of X‚ where X is a discrete random variable‚ is a weighted average of the possible values that X can take‚ each value
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Channels of Distribution Lesson 20 Channels of Distribution Are you aware that the study material of Business Studies‚ which is now in your hands‚ is prepared at the headquarters of the National Institute of Open Schooling (NIOS) situated at New Delhi. How did it come to your hands? Was it available at your study centre or you bought it from the market? If you got it from your study centre‚ then just think for a while: how did it reach your study centre? Actually‚ after publishing the
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I found the concept on frequency distribution using Google and the search words “frequency distribution” at http://www.mathsisfun.com/data/frequency-distribution.html This website is geared towards younger people and therefore breaks down frequency distribution into very basic terms: values and their frequency (how often each value occurs). The website uses the example of a child’s soccer team and how many goals they scored in recent games. For the assignment this week‚ I have chosen to use the
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(I) INTRODUCTION A channel of distribution or trade channel is defined as the path or route along which goods move from producers or manufacturers to ultimate consumers or industrial users. In other words‚ it is a distribution network through which producer puts his products in the market and passes it to the actual users. This channel consists of :- producers‚ consumers or users and the various middlemen like wholesalers‚ selling agents and retailers(dealers) who intervene between the producers
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Frequency Distribution (A) Introduction 1. Ungrouped data versus grouped data Ungrouped data (Raw data): It is a list of individual observed values of the random variable Grouped data (a frequency distribution): It is a table that displays the data in grouping along with the number of occurrences that fall into each group. 2. The components of a frequency distribution a. Class limits: They identify the inclusive values in a class of a frequency distribution The
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