Intermediaries perform three types of functions, transactional, logistical, and facilitating (Kerin & Hartley, 2022). Transactional functions include buying products for retail, selling by contacting potential customers, and risk taking by assuming business risk by taking ownership of the inventory (Kerin & Hartley, 2022). Logistical function involves assorting, storing, sorting, and transporting products (Kerin & Hartley, 2022). Facilitating functions involves extending credit to customers, grading, and marketing information and research (Kerin & Hartley, 2022). Types of intermediaries are retailers, wholesalers, and agents (Kerin & Hartley, 2022).

For large businesses, they will want to focus on a direct approach since resources are available to hire a sales staff, build retail locations, storage facilities, and to purchase trucks for transporting the product. This would allow the company to control the entire lifecycle of the product and reduce the amount of potential conflict.

For small businesses, it would be more important to utilize an agent, wholesaler, and retailer since there are far fewer resources to invest in doing this alone and it is a good way to target consumers more directly and put the product in front of more consumers.

Utilizing different marketing channels will enable our bike company to reach out to more individuals in ways they want to find and purchase products. This will also increase our reach if we utilize other retail location in addition to our stores. Since the company is still small and lacking resources, utilizing agents, wholesalers, and retailers will better improve the reach of the products.

Reference:

Kerin, R. A., &; Hartley, S. W. (2022). Marketing: The Core. McGraw-Hill. October 9, 2023, https://bibliu.com/app/#/view/books/9781264209323/epub/OPS/s9ml/chapter01/chapter01.html#page_59 Hiort, A. (2023, February 8). Understanding the role of AI and virtual influencers Today. RSS. https://www.virtualhumans.org/article/understanding-the-role-of-ai-and-virtual-influencers-today#:~:text=Many%20virtual%20influencers%2C%20such% 20as, team%20engaging%20with%20her%20fans.

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