Place

• What is the third P of the marketing mix?

  Place
• What does the 'place' in the marketing mix refer to?

  How a business gets products to customers
• What are the two main categories of distribution?

  Digital and physical
• What is digital distribution?

  Selling products through digital channels
• What percentage of retail sales now happen online?

  30%
• What was Amazon's original business model?

  Online bookstore
• What are some benefits of digital distribution?

  Global market access and cost savings
• What are some drawbacks of digital distribution?

  Security concerns and trust issues
• What does physical distribution cover?

  Sales made through non-digital means
• What percentage of retail sales in the UK are from physical stores?

  70%
• What is Walmart known for in terms of distribution?

  Both physical and digital distribution
• What was Walmart's revenue?

  $59.93 billion
• What are some advantages of physical distribution?

  Increased visibility and in-store experience
• What are some drawbacks of physical distribution?

  High overhead costs and limited hours
• What is a multi-channel selling strategy?

  Offering products both online and offline
• Why might a business focus on a specific distribution channel?

  To cater to a very local market
• What are the key features of digital distribution?

  • Involves e-commerce websites and apps
  • Access to a global market
  • Cost savings on rentals and staff
  • Ease of setup and expansion
  • Security and trust issues
• What are the key features of physical distribution?

  • Involves brick-and-mortar stores and catalogs
  • Accounts for 70% of retail sales in the UK
  • Increased visibility and in-store experience
  • Higher overhead costs
  • Limited sales opportunities based on location
• What are the advantages and disadvantages of digital and physical distribution?

  Digital Distribution:

  • Advantages: Global access, cost savings, easy setup
  • Disadvantages: Security issues, trust concerns

  
  

  Physical Distribution:

  • Advantages: Visibility, preferred in-store experience
  • Disadvantages: High costs, limited hours
• What is the conclusion about distribution channels in business?

  • Digital distribution offers larger markets and fewer overheads
  • Physical distribution provides visibility and customer preference
  • Multi-channel selling is common among businesses