Explain how do intermediaries add value to a marketing system? Support your opinion by focusing on different key functions of the intermediairies. Adding Value to a Marketing System Through Intermediaries

Adding Value to a Marketing System Through Intermediaries

Intermediaries play an important role in the marketing system, providing a variety of valuable services that help streamline processes and increase efficiency. By connecting suppliers, producers, and consumers, intermediaries help to facilitate the exchange of goods and services and provide a number of other benefits. This essay will explore the different key functions of intermediaries and how they add value to a marketing system. Intermediaries such as wholesalers and retailers provide a variety of services that help to streamline the marketing process. They help to store and distribute goods from the manufacturer to the end user, meaning that producers are able to focus on the production process rather than worrying about storage and transportation (Ramaswami & Namakumari, 2016). Furthermore, intermediaries can provide a range of marketing services such as advertising, market research, and product promotion, enabling producers to reach a wider range of customers (Kotler & Armstrong, 2017). Intermediaries can also provide valuable information to producers and consumers alike. By using data gathered through research and customer feedback, intermediaries are able to identify trends and preferences of customers, which producers can then use to adjust their products and services accordingly (Ramaswami & Namakumari, 2016). This helps to ensure that. Cont…