I need an explanation for this Marketing question to help me study.
Great news! Your concept passed initial testing and went on to more rigorous, quantitative testing. The results there were promising and you’ve decided to launch the new product! Now, you need to identify potential suppliers and distribution partners.
- In 1-2 pages, create a list of at least three potential suppliers and describe what they would do for your company (preferably using real-life suppliers, but you may use fictitious names if you can’t locate an existing company that supplies that material).
- In 1-2 pages, create a list of at least three potential channel partners and describe what they would do for your company (wholesalers, retailers, etc.).
- Using the companies listed in your supplier list, create a diagram of suppliers that traces your offering back to its raw materials.
- Using the companies listed in your channel partner list, create a flowchart that shows at least three potential pathways to get your product to the consumer.
- Include a ½-page write-up that discusses the value that each supplier and channel partner contributes to the development and distribution of your offering.