Channel management is a vital part of the marketing mix. it's a gate way to sell company's product with smooth and well plan dynamics the vision behind the topic comes from the idea of a trade which always moves around its monetary worth and goal. Here we need to conclude that proper study of market segmentation and marketing mix are the key issue's to acclaim an
impulsive plan of success.
Ø so many key factors are necessary for channel management:
Where company's need to focus?
Ø How to evaluate marketing mix? Marketing mix is a complete analysis about competitor's product, price, placement, promotional and sales method's to know their SWOT data by valuing all a specialist can make a winning theme for their minor's that shows a clear vision about his company's specialties.
Ø founding of a reporting system - it is vary as per the hierarchy of an organization for example a regional sales manager always requires a daily, weekly, monthly reports about existing and new clients visiting, sales/Payment receivable to visualize where we are as compare to our target market behalf of that he can analyzed the need of education, motivation training program's for his subordinates and channel partners to cure the source of the problem as well as he also produced the reporting to country managers, General Manager or Vice President as per ladder's demand. Channel mix is a part of matrix marketing management or we can say that every activities of marketing are correlated to each other once we pickup one then we need to take the source of another it's a continues process of doing which never ends always runs. Image: flickr.com
Ø so many key factors are necessary for channel management:
- (1) Direct sell policy
- (2) C/F policy
- (3) Distributors Policy
- (4) Sub Distributors Policy
- (5) Franchise Policy
- (6) Multi Brand out Lets Policy
- (7) Shop and Shop Policy
- (8) corporate sales policy. Vision starts from the review of target market which always varies as per company's policy with respect to fiscal strengths of the business to resolve all the key factors of channel management. Lastly it's fully depending on population and their outflow based data
- (1) Review of over all populations and potential populations of a country
- (2) Review of over All potential consumption in quantity or in amount
- (3) Review of the consumption of organized and non-Organized sectors in quantity or in amount
- (4) Review of the conversion of non-organized sectors Market in organized or just reverse
- (5) Review of the yearly Consumption growth
- (6) Review of the State wise consumption of organized and non-organized Sectors in quantity or in amount
- (7) Review of Company's target market by analyzing its Organizing or non organizing market Value With respect to Company's financial worth and external Data analysis
- (8) State wise target Fixation with respect to Channel partners and their target By analyzing all the above mention points a channel management expert able to distinguish between mass market and potential market, accuracy of these are very much depend on the skill of a professional so many groups used to get defeat because they wont able to make a proper correlation between mass market, potential market and their conversions as compare to their over heads. India has around 1.18 billion populations, apx.35 millions are the income tax payer and 85 millions are filling income tax return means 120 millions population are the likely target market for brand conscious group those used to make products for upper to medium class. Every year 2 child born and 1 people die out of 100 means extra addition of 10 millions population always provide more chances for product and services. If any group is taking whole country's population as their mass market then the rate of their target market is depend on the distinct value of their products because the rate of competition would be height and market reach early in a state of saturation. For example India has 650 million mobile subscribers and 37 million land line subscribers' mean 50 % of Indian populations are using mobile phone. Estimated growth of the market is around 2% to 3 %, 120 million mass potential peoples are covering 360 million's and they are actualizing around 300 million connections mean this segment is in a situation of saturation another 700 million market is materializing 350 million connections apx.120 million populations never able to use mobile subscription due to their less techno skill, age factor, physical disability Means almost 650 million customers are being added out of 1000 million.
Where company's need to focus?
- (1) They can maintain their current consumer base by providing them free life time connection?
- (2) They can provide a lucrative scheme for the subscription of second or more connections to open the door of soak market to add 100 more million.
- (3) Special schemes for average mass market (700 million).Indian villagers or else are needed to consume another 250 to 300 million connections in 5 years span of time. This market still has a potential of more 400 million's of connections need spot on policies.
Ø How to evaluate marketing mix? Marketing mix is a complete analysis about competitor's product, price, placement, promotional and sales method's to know their SWOT data by valuing all a specialist can make a winning theme for their minor's that shows a clear vision about his company's specialties.
Ø founding of a reporting system - it is vary as per the hierarchy of an organization for example a regional sales manager always requires a daily, weekly, monthly reports about existing and new clients visiting, sales/Payment receivable to visualize where we are as compare to our target market behalf of that he can analyzed the need of education, motivation training program's for his subordinates and channel partners to cure the source of the problem as well as he also produced the reporting to country managers, General Manager or Vice President as per ladder's demand. Channel mix is a part of matrix marketing management or we can say that every activities of marketing are correlated to each other once we pickup one then we need to take the source of another it's a continues process of doing which never ends always runs. Image: flickr.com
