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The marketing channel is often viewed as a key strategic asset of a manufacturer.This was abundantly apparent in the $70 billion merger in 1998 between Citicorp and Travelers Group (now known jointly as Citigroup).Citicorp was one of the world’s biggest banks,whereas Travelers focused on the insurance,mutual funds,and investment banking businesses.One of the merger’s major stated goals was the ability of each organization to cross-sell the other’s products to its customers and to exploit the two organizations’ distribution channels to maximize the penetration of Citigroup’s products throughout the world.Citicorp already had a worldwide distribution network of branch banks,which Travelers lacked.Meanwhile,Travelers had 10300 Salomon Smith Barney brokers,80000 Primerica Financial Services insurance agents,and 100000 Travelers insurance agents,a direct sales force in these markets that Citicorp could neither match nor easily build on its own.In a joint statement to the U.S.House Banking Committee on April 29,1998,Charles O.Prince,general counsel for Travelers,stated:
We believe we will be successful because of the quality and breadth of our products and services,and because of each of the company’s greatly expanded and innovative distribution channels.Financial products “manufactured” in various parts of our company will be distributed through a broad range of methods,from the Internet and other technology-based methods to branch office locations in one hundred countries around the world to fully individualized,in-home service.
This example makes clear that,whether selling Products or services ,marketing channel decisions play a role of strategic importance in the overall presence and success a company enjoys in the marketplace.
The above examples all include intermediaries who play some role in distributing products or services,and some are examples of markets where marketing channel activities or structures have changed over time.This raises the fundamental question of why marketing channels exist and what causes these changes.Why,for example,do not all manufacturers sell all products and services that they make directly to all end-users?And,once in place,why should a marketing channel ever change shape or new marketing channels ever emerge?
The marketing channel is often viewed as a key strategic asset of a manufacturer.This was abundantly apparent in the $70 billion merger in 1998 between Citicorp and Travelers Group (now known jointly as Citigroup).Citicorp was one of the world’s biggest banks,whereas Travelers focused on the insurance,mutual funds,and investment banking businesses.One of the merger’s major stated goals was the ability of each organization to cross-sell the other’s products to its customers and to exploit the two organizations’ distribution channels to maximize the penetration of Citigroup’s products throughout the world.Citicorp already had a worldwide distribution network of branch banks,which Travelers lacked.Meanwhile,Travelers had 10300 Salomon Smith Barney brokers,80000 Primerica Financial Services insurance agents,and 100000 Travelers insurance agents,a direct sales force in these markets that Citicorp could neither match nor easily build on its own.In a joint statement to the U.S.House Banking Committee on April 29,1998,Charles O.Prince,general counsel for Travelers,stated:
We believe we will be successful because of the quality and breadth of our products and services,and because of each of the company’s greatly expanded and innovative distribution channels.Financial products “manufactured” in various parts of our company will be distributed through a broad range of methods,from the Internet and other technology-based methods to branch office locations in one hundred countries around the world to fully individualized,in-home service.
This example makes clear that,whether selling Products or services ,marketing channel decisions play a role of strategic importance in the overall presence and success a company enjoys in the marketplace.
The above examples all include intermediaries who play some role in distributing products or services,and some are examples of markets where marketing channel activities or structures have changed over time.This raises the fundamental question of why marketing channels exist and what causes these changes.Why,for example,do not all manufacturers sell all products and services that they make directly to all end-users?And,once in place,why should a marketing channel ever change shape or new marketing channels ever emerge?
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