Creating value for a consumer product via place decisions involves
Multiple Choice
making sure the product is available where and when customers will want it.
pricing products differently at different stores.
putting the product in the front of the store.
designing creative displays to capture consumers’ attention.
focusing exclusively on Internet sales to reduce supply chain costs.
The correct answer and explanation is :
The correct answer is:
making sure the product is available where and when customers will want it.
Explanation:
In marketing, place decisions are a critical part of the marketing mix (also known as the 4Ps: Product, Price, Place, and Promotion). These decisions focus on the distribution strategy, ensuring that a product is available to the consumer at the right time and location. Place decisions are about creating convenience for the customer, so they can easily access and purchase the product when they need it.
- Availability Where and When the Customer Wants It:
The essence of place decisions is to make the product available in the right locations and at the right times. This means choosing effective distribution channels, considering customer preferences, and ensuring products are in the right geographical areas (whether that be online, in physical stores, or both). For example, a company may use both retail locations and e-commerce platforms to cater to different customer needs. - Pricing Differently at Different Stores:
This relates to price decisions, not place decisions. While companies may vary their pricing strategies based on the store or region, this is not a key component of place decisions, which are more focused on distribution logistics. - Putting the Product in the Front of the Store:
This refers more to promotion decisions and visual merchandising rather than place decisions. Placing a product in a prominent location within a store is part of enhancing its visibility to attract customer attention, which aligns with promotional strategies. - Designing Creative Displays:
Designing displays also falls under promotion decisions and refers to the strategies used to highlight products within stores, either physically or through online means. - Focusing Exclusively on Internet Sales to Reduce Supply Chain Costs:
While online sales can indeed reduce supply chain costs, focusing only on internet sales is a specific strategy that limits the flexibility and reach of a distribution strategy. A good place decision considers various channels and balance based on the target market.
In summary, making the product available where and when consumers want it is the essence of place decisions, enabling effective distribution strategies to meet customer demand efficiently.