Final answer:
The incorrect statement is that distribution channels deliver products at a substantially high total cost. Efficient distribution channels aim to minimize costs and provide value through time, place, and possession utility.
Step-by-step explanation:
The answer to the student's question regarding the distribution channel that is not true is: c. Channels deliver the product when they are wanted but at a substantially high total cost. This statement does not hold in general as the effectiveness of distribution channels typically aims to minimize the overall cost while delivering products when and where they are desired. Efficiently managing the distribution channels and the process of goods distribution, as well as integrating them into the broader marketing strategy, are crucial aspects of the distribution function. Furthermore, the distribution channels are responsible for providing time, place, and possession utility to consumers and buyers, making the products available in a convenient location and at the right time.
One key trend mentioned is the effect of globalization and technology on market definitions, as these have opened up local markets to international competition. Additionally, the splitting up of the value chain refers to how the production of goods has become more specialized across different countries, which requires efficient distribution channels to knit together the various stages from production to final sales.