New in Stock - Preliminary Exam Business Report Samples (Band 6 Exemplar)
The way through which the target market is able to access the product or service of a business.
Place strategies vary widely for manufacturers and service providers, and must be catered toward the market within which a firm is competing.
Intangible services must be delivered in real-time in the presence of customer—no use of intermediaries.
Tangible goods can be transferred through distribution channels (via intermediaries) into the possession of the end user. These channels must have brand and positioning alignments to be coherent. K-Mart does not sell Gucci.
The idea is to have your product available at the right place and the right time for the target market to easily access it; increasing sales and profitability.