12/08/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A distribution channel is a way through which a company sells its products or services to its customers. Using different sales channels enables a company to market its product to a wide target group. Distribution channels can be direct (e.g., online sales, telephone sales, and in-person sales), indirect (e.g., retailers and wholesalers), or a combination of both.
12/08/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Customer analytics is a method of business research that involves collecting, analyzing, and interpreting customer information to gain a deeper understanding of customers' needs, motivations, and behaviors. It is an important technique for understanding who customers are, what they want, and how they make decisions. Customer analytics helps companies provide customized products and services that are tailored to customer needs.
12/08/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Pricing is the strategy a company uses to determine the prices for its products and services. It involves analyzing market conditions, costs, and other factors to determine a price that is attractive to consumers and maximizes the company's revenue. Pricing can also be a tool for companies to make their products or services stand out compared to those of their competitors.
12/08/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A distribution network is a systematic network of organizations involved in the marketing and distribution of products or services. The network may consist of a group of wholesalers, retailers, customer service companies, logistics companies, manufacturers, suppliers, distributors, resellers, and other organizations that help get a product or service to end users.
12/08/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Direct selling is a type of sales strategy in which companies sell their products or services directly to end consumers without the intermediation of a middleman. Direct selling is often implemented through sales representatives or multi-level marketing companies. Direct selling allows companies to sell their products without the cost of an intermediary, thereby earning more profit. In addition, direct sales can help companies establish customer contacts that can be useful for further sales.