Question

What marketing mix decisions and challenges do you believe wholesalers face when marketing to businesses?

Answer 1

While developing marketing mix decisions wholesalers focuses on four key factors. Products, price, place, and promotion. Discussion of the four key elements is as follows:

• Product: Wholesalers generally focus on their product quality while adopting any marketing decision. Wholesaling organizations offer a wide range of product diversity including appliances, auto, and tiers, clothing, computers, electronic gadgets, toys, grocery items, and handicrafts. These wholesaling organizations are well connected with warehouses.
• Place: Selection of a proper place is an essential decision for wholesalers. Wholesalers generally sell their products through warehouse-style stores. Currently, several wholesalers are tending to digitalize their platform and have started online selling. It is effective for them to reach to a maximum number of customers easily.
• Price: Wholesalers generally analyses the buying capability of the target market and set [price based on buying power of consumers. Thus, the market-oriented pricing strategy is appropriate for wholesaling organizations.
• Promotion: Promotional strategies which wholesalers adopt are sales promotion, direct marketing promotion, personal selling, and public relation promotion.

Challenges to these marketing decisions are as follows:

• Inefficient workforce
• The incapability of marketing management team in implementing effective promotional strategies to attract consumers
• Lack of proper customer relationship management technique to understand consumer preferences and buying capabilities.