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Choose a real, or imagined, product that you would like to create or sell some day. Develop a distribution plan for that product by
Choose a real, or imagined, product that you would like to create or sell some day. Develop a distribution plan for that product by going through the steps of creating a distribution strategy. For each step, list realistic examples of strategies you would use for your product. (1-2 sentences each, 10.0 points) a. Step 1-Evaluate your customers: Identify potential consumers, such as fitness enthusiasts, athletes, and those who place a premium on comfort and design in their footwear. b. Step 2-Identify partners: Identify potential collaborators, such as sports retailers, online marketplaces, and fitness centers that appeal to the target market. c. Step 3-Research and build partnerships: Conduct market research to identify the best partners for the product, negotiate partnership terms, and establish relationships with these partners to assure consistent distribution. d. Step 4-Manage your distribution channels: Monitor the distribution channels, ensure on-time product delivery, and maintain sufficient inventory levels to meet customer demand. e. Step 5-Evaluate success: Routinely evaluate the distribution plan's success by analyzing sales data, customer feedback, and partner performance, and make any necessary adjustments. 3. Using your product from question 2, what type of wholesaler would you use to distribute your product? What benefits would you see by utilizing a wholesaler? (5-6 sentences, 10.0 points) 4. Using your product from question 2, what type of retailer and in what setting would you use to sell your product? What benefits would you see by choosing this type of retailer? What disadvantages would there be? (5-6 sentences, 10.0 points) 5. Using your product from question 2, what would need to be included in your logistics plan? What mode(s) of transportation would you use to distribute your product? (5-6 sentences, 10.0 points)
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