A Brief Summary of the Article
The article was authored by Eric Chemi at the Business Week. It seeks to explain how fear, loneliness, and boredom can be applied to manage marketing channels. Marketing channels are processes making products and services for consumption and use by organizations and individuals are available. Motivating the channel members involves performing distribution functions such as selling, providing credit, and maintenance of inventories by retailers, distributors, and wholesalers. According to Eric, fear can motivate marketing channel members. A study at the University of British Columbia revealed that, loneliness and fear assists people to develop and increase emotional attachment to products and services (Eric, 2014).
The product and pricing issues in channel management are mainly aligned to fear, excitement, and boredom. These issues can induce desires, needs, and wants to develop a connection with the product. Thus, the more afraid an individual or firm is, the more likely it will buy or acquire high quantities of a product or services respectively. More so, they are likely to purchase the product or service at a higher price (Berkowitz & Hartley, 2000).
Promotions in marketing channels involve buying, selling, and risk taking. An agent has to supply a product or service in order to conduct promotions. Consequently, potential customers ought to be contracted, as they are more likely to solicit for the product or service. More importantly, ownership of inventory ought to be evaluated, as it can either be obsolete or deteriorated increasing business risks. The logistics and supply chain management in marketing channels involve assorting, storing, sorting and transportation. Assorting involves creation of product assortments from diverse sources to meet consumer need. Storing involves assembling and preserving products at well-situated locations offering high quality consumer services. Sorting on the other hand involves purchase of products in large quantities in order to break them to smaller amounts desirable by consumers. Lastly, transportation is the physical movement of products to the consumer (Berkowitz & Hartley, 2000).
However, Eric Chemi asserts these logistical functions can be achieved if a consumer is aware of the products and services. More so, the customer should either hold or associate with the product in order to derive satisfaction. An evaluation of channel member performance should therefore be based on the levels of satisfaction derived by the consumer. Thus, consumers facing loneliness, fear, and boredom can improve marketing performances about brands they develop and sustain an emotional, physical, and psychological attachment (Eric, 2014).
The article relates to key concepts involved in marketing. Foremost, it affirms consumers derive desire to acquire a product or service through marketing. Thus, agents ought to undertake marketing in order to create time, form, place, and possession utility among buyers. The article encourages use of electronic marketing channels as they are interactive. More so, they are expansive as they can undertake direct marketing coupled with dual distribution channels (Eric, 2014).
My personal reaction to the article based on the marketing perspective gained during the course collaborates with the author. During the course, I learnt marketing involves raising awareness. Consequently, Eric asserts raising product or service awareness among consumers facing loneliness, boredom and fear can improve marketing strategies. Thus, marketing involves products, services, sellers, and buyers. However, the seller should encourage a buyer to purchase the product or service. More importantly, the product or service should meet and fulfill its commercial, emotional, physical, and psychological needs with regards to buyers and sellers.
Berkowitz, K., & Hartley, R. (2000). Marketing Channels and Wholesaling, Irwin/McGraw Hill Publishers.
Eric, C. (2014). Fear as Marketing Tool: Scary Sells, Business Week,