Functions of intermediaries
The products or services are transferred from manufacturer to the customers through marketing intermediaries. The place, time and possession gaps are overcome by the marketing intermediaries that separate the products or services from their users. Following are the important functions of marketing intermediaries.
1) Information: One big function of marketing intermediaries is that they are helpful in provision of useful information about the forces and actors in the markets in the management and marketing research teams.
2) Promotion: They also communicate with the customers about the new offering of the businesses.
3) Contact: Prospective customers are found by the marketing intermediaries and then they are effectively communicated by these intermediaries.
4) Matching: Marketing intermediaries also match the various diversified needs and wants of customers to the different supplies of the manufacturers including the assembling, grading and packaging of products.
5) Negotiation: This is an important function in which the intermediaries negotiate with the customers in order to reach at a certain price so that the ownership of the product is shifted.
There are also some other functions that are performed by these intermediaries which are.
6) Physical Distribution: The physical distribution of products is also done by them.
7) Financing: Intermediaries also provide some funding to the businesses which are properly used by the businesses to cover some of their distribution costs.
8) Risk Taking: These intermediaries also take some risk in acquiring different old and new products or services from various businesses.