Marketing Channel and Channel Intermediaries

Marekting Channel
set of interdependent organizations that eases the transfer of ownership as products move from the producer to the business user or consumer
Channel members
all parties in the marketing channel who negotiate with one another, buy and sell products, and facilitate the change of ownership between buyer and seller in the course of moving the product from the manufacturer into the hands of the consumer
Form utility
the elements of the composition and appearance of a product that makes its desirable
time utility
the increase in customer satisfaction gained by making a good or service available at the appropriate time
place utility
the usefulness of a good or service as a function of the location at which it is made available
exchange utility
the increased value of a product that is created when its ownership is transferred
merchant wholesaler
an institution that buys goods from manufactures and resells them to businesses, government agencies, and other wholesalers and retailers and that receives and takes title of the goods and stores in its warehouses, and later ships them
agents and brokers
wholesaling intermediaries who do not take title to a product but facilitate its sale from producer to end user by representing retailers, wholesalers, or manufacturers
retailers
a channel intermediary that sells mainly to consumers
direct channel
a direct channel in which producers sells directly to consumers