A marketing intermediary is a distribution channel and way for producers of various products and services to indirectly sell to the masses. The marketing intermediaries are used to get the product or service to the consumer and are often called "middlemen."Know More
Marketing intermediaries can come in the form of wholesalers, retailers, brokers, agents, financial intermediaries or distributors. The manufacturers are responsible for creating the product or developing the service before it is sent forward to the marketing intermediary and from the marketing intermediary to the consumer.
Marketing intermediaries are used by companies because they keep manufacturers from assuming too much risk while providing financing and information flow. They also eliminate the need for the consumer to negotiate each individual product or service exchange with the manufacturer or seller, which in turn is cost effective for both parties. Some examples of marketing intermediaries include large retailers such as Kmart and JCPenney and grocery stores like Kroger.
Marketing intermediaries also offer distribution practicalities that take care of "when" and "where" the customer will go in order to purchase the product as well as allowing the customer to take ownership of the product. The intermediaries help to create an efficient and cost effective exchange process.Learn more about Economics
The main function of the World Trade Organization, or WTO, is ensuring that international trade flows as smoothly as possible in the multilateral trading system between its 157 member countries. The WTO is the only international organization dealing with the global rules of trade between nations.Full Answer >
Basic functions of an economic system are to produce and consume goods and services. The way in which people within the economy do this varies based on the type of economic system.Full Answer >
The nine functions of marketing are to focus on the customer, monitor competition, manage the brand, find and direct supporting vendors, create fresh ideas, communicate internally well, manage the budget, understand return on investment and plan and execute campaigns. Marketers should further remember that their efforts fuel the organization.Full Answer >
A marketing executive is responsible for overseeing daily activities within the marketing department of a company. As a core part of the company's communication strategy, the marketing executive plans, develops and implements marketing campaigns to expand the client scope, enhance awareness about the company and promote services and products.Full Answer >