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Understanding the Market — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipUnderstanding the Market3 Marks
Question
What is done under place mix?
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Answer

Two important decisions relating to place are required to be made:
  1. Decisions regarding Channels of Distribution i.e.
  • Direct Channel-Manufacturer sells the product directly to consumer without any intermediary.
  • Indirect Channel-Manufacturer sells the product through intermediaries like wholesaler and retailers.
  1. Decisions Regarding Physical Movement of Goods: The process of physical movement of goods involves four managerial decisions or components.
  • Transportation.
  • Warehousing.
  • Insurance.
  • Inventory Management.

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