What role does wholesaling play in the marketing channel? Is this role necessary?
What will be an ideal response?
Wholesaling refers to all transactions in which products are bought for resale, for making other products, or in general business operations. It does not include exchanges with ultimate consumers.
Wholesalers provide essential services to both producers and retailers. By initiating sales contacts with a producer and selling diverse products to retailers, wholesalers serve as an extension of the producer's sales force. Wholesalers keep producers up to date on market developments and pass along manufacturers' promotional plans to other intermediaries. Using wholesalers gives producers a distinct advantage because the specialized services wholesalers perform allow producers to concentrate on developing and manufacturing products that match customers' needs and wants.
Wholesalers support retailers by assisting with marketing strategy, especially the distribution component. Wholesalers also help retailers select inventory. They are often specialists on market conditions and experts at negotiating final purchases. Effective wholesalers make an effort to understand the businesses of their customers. They can reduce a retailer's burden of looking for and coordinating supply sources. Furthermore, whereas a manufacturer's salesperson offers retailers only a few products at a time, independent wholesalers always have a wide range of products available. Thus, through partnerships, wholesalers and retailers can forge successful relationships for the benefit of customers.
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