Definition: The term Channel Management is widely used in sales marketing parlance. It is defined as a process where the company develops various marketing techniques as well as sales strategies to reach the widest possible customer base. The channels are nothing but ways or outlets to market and sell products.
The Channel Manager wins, maintains, and expands relationships with assigned channel partners. Assigned to channel partners based on geography, channel, or market, the Channel Manager is responsible for achieving sales, profitability, and partner recruitment objectives.
The channel management process contains five steps:
- Analyze the Consumer.
- We begin the process of channel management by answering two questions.
- Establish the Channel Objectives.
- Specify Distribution Tasks.
- Evaluate and Select Among Channel Alternatives.
- Evaluating Channel Member Performance.
Download also:
The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation, and strategy monitoring.
- Clarify Your Vision.
- The purpose of goal-setting is to clarify the vision for your business.
- Gather and Analyze Information.
- Formulate a Strategy.
- Implement Your Strategy.
- Evaluate and Control.
0 Comment: