Place Principle in Market Mix.

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Description

The place principle is one of the four core elements in the marketing mix; it refers to the distribution channel. The mechanisms put in place to ensure proper and efficient availability of products to the all important end-user. For the product to maintain competitiveness, the locations where the product can be purchased should be convenient to the buyers and cost-effective to the producer. There are various distribution channels that can be used to distribute the product both direct and indirect to ensure proper customer satisfaction and after sale service.

For the product to reach a large market there will be an essence to involve intermediaries through franchising and licensing. This will help to minimize risks when venturing into new markets, to gain experience in management and to enjoy the trade marks of the already established firms. It will also ensure uniform quality cost and customer service availed to consumers (Chuck, Linda, & Edward, 2004).  Foreign firms will be used to market and sell the products in their countries. Little funds will be used by the manufacturer to market the product if other firms are used. Product market penetration and avoidance of non-tariff barriers in the foreign markets is important consideration.