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Types of Sales Channels
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Direct Sales
Advantages: Full control over the sales process, direct customer feedback, higher profit margins. Challenges: Higher setup costs, requires a skilled sales force, time-intensive.
Online Sales
Advantages: Wide reach, open 24/7, cost-effective. Challenges: High competition, technical issues, reliance on digital marketing.
Retail Sales
Advantages: Physical product display, immediate customer gratification, opportunity for personal selling. Challenges: High overhead costs, inventory management, limited reach compared to online.
Wholesale
Advantages: Large volume sales, stable revenue streams, reduced marketing costs. Challenges: Lower profit margins, dependency on retailers, potential for overproduction.
Franchising
Advantages: Rapid expansion, franchisor support, shared financial risk. Challenges: Loss of control, reputation dependency, complex legal agreements.
Multi-Level Marketing (MLM)
Advantages: Low upfront investment, potential for passive income, personal business growth. Challenges: High turnover rates, reputation risk, legal scrutiny.
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