buys products from wholesalers then sells to consumers - retailers, buys from manufactures then sells to retailers - wholesale, creates goods - manufacturers, price, place, promotion, product - Name the 4 P's (marketing Mix), buying something online then choose the in store pickup option - This is an example of a distribution center, amazon - This is an example of a fulfillment center, TRUE - T/F: distribution and fulfillment centers store and ship products for businesses. And they are both indirect distribution channels., TRUE - T/F: The cost of indirect distribution changes depending on how many middlemen it goes through to get to the end consumer. , indirect - match the distribution channel to their definition [an agent gets involved on top of the wholesalers and retailers], indirect - match the distribution channel to their definition [a wholesaler purchases products in bulk then sells it to other customers], indirect - match the distribution channel to their definition [a product is purchased from manufacturer then sold to customer], indirect - match the distribution channel to their definition [3 levels], indirect - match the distribution channel to their definition [usually more expensive and more time- consuming], indirect - match the distribution channel to their definition [wholesalers, retailers, and agents], indirect - match the distribution channel to their definition [use "middlemen" to distribute their products ], direct - match the distribution channel to their definition [door to door (Girl Scout Cookies) and e- commerce sales], direct - match the distribution channel to their definition [customers usually have to pay shipping costs], direct - match the distribution channel to their definition [doesn't involve a "middle man"], refine & improve quality methods and measures as needed - Production Processes [4], establish the product quality testing method - Production Processes [2], manufacturing needs, required materials, where to acquire materials, cost of materials - What are the 4 parts of product research?, when customers tell others to buy your product/ service, sales volume is high and continues to grow - when do you know that you have reached Product/Market Fit? Choose 2, Continue to refine and evaluate your product market fit. - Put the Phases of the Product/Market Fit Hypothesis in order [6. growth], direct - match the distribution channel to their definition [allows the consumer to make the purchase directly from the manufacturer ], direct - match the distribution channel to their definition [the shortest and least complicated distribution], direct, indirect - What are the 2 main types of distribution channels?, review the internal quality testing results - Production Processes [3], set quality standards - Production Processes [1], Analyze customer feedback. Change markets. Explore new product lines. - Put the Phases of the Product/Market Fit Hypothesis in order [5. customer development], Sales gain momentum. Growth begins. This is the MONETIZATION phase - Put the Phases of the Product/Market Fit Hypothesis in order [4. traction], Company is legally formed and sales start to occur. Your company will create a value hypothesis to articulate why customers should use your product. - Put the Phases of the Product/Market Fit Hypothesis in order [3. launch stage], Identify how your product or service solves customers problems. You will create a MVP product. - Put the Phases of the Product/Market Fit Hypothesis in order [2. Prototype phase], McDonald’s - Direct Distribution, Domino’s Pizza - Direct Distribution, Rent-A-Car - Direct Distribution, Apple - Direct Distribution, Tesla - Direct Distribution, Nike - Direct Distribution, Amazon - Fulfillment Services (Indirect Distribution), ShipBob - Fulfillment Services (Indirect Distribution), Shopify - Fulfillment Services (Indirect Distribution), when do you know that you have reached Product/Market Fit? - when customers tell others to buy your product/ service, sales volume is high and continues to grow, Idea Stage - 1 - where entrepreneurs and innovators come up with new ideas for products or services, Prototype Stage - 2 - businesses focus on developing a minimum viable product (MVP) to test with a select group of users or customers, Launch Stage - 3 - when the product is introduced to the market. It involves implementing a comprehensive marketing strategy to generate awareness and attract customers., Traction Stage - 4 - This stage focuses on increasing the user or customer base, refining the marketing strategy, and optimizing the product based on user feedback, Monetization Stage - 5 - where businesses establish a revenue model for their product or service, Growth Stage - 6 - is characterized by sustained growth and a significant increase in market share,

Domain 3

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