Posted in Operations and Supply Chain Terms, Total Reads: 2111
Definition: Channel Management
Channel Management is a formal program by which a company creates processes for selling and servicing customers within a specific channel. Channel management involves motivating partners comprising channels of distribution. Firms and clients master multichannel excellence through channel management in two ways:
Improving the effectiveness of their sales investments by simultaneously and driving for efficiency in all channels. The world of marketing has become more complicated as technological advances have taken hold. No longer can a business rely on customer relations or advertisement or word of mouth as a means to push products. Possibilities for marketing a product or service grow each day especially due to the advancement of the internet and hence it is difficult to perform equally well or keeping track of all the challenges. That is why the concept of channel management has become integral to marketing.