Channel Management

Question

Define the term Channel Management and their features?

Answer 1

Channel Management:

Channel management is defined as a process by which a company makes formalized programs for selling and servicing customers in a specific or particular channel. The Channel management program comprises:

1. Goals:- Define the specific goals of each channel segment. Consider goals for the channel as whole as well as individual accounts. Also consider goals for both acquisition and retention.

2. Policies:- Made well-defined polices for administering the accounts contained by this channel. Be assure to keep the exclusive characteristics of each segment in mind when defining policies for account set up, the order management, and product fulfillment, and so forth.

3. Products:- Identify which products in portfolio of company are most suited for each segment and create appropriate messaging. Also, determine where selling opportunities lie.

4. Sales/Marketing Programs:- Design support programs for channel which meet their requirements. To do this, company should ask customers within this segment that how can it best support to customers in the selling and marketing of its products? The standard considerations are product training, co-op advertising, merchandising and seasonal promotions.