Sales Channel Management and Partnering
Expert-defined terms from the Certified Professional in Sales Force Effectiveness course at London School of Business and Administration. Free to read, free to share, paired with a professional course.
**ABC Analysis** #
A method of categorizing sales items based on their sales volume or profit contribution. It stands for "Always, Better, Cutting," with "Always" items having the highest sales volume or profit contribution, "Better" items having the next highest, and "Cutting" items having the lowest.
**Account Management** #
The process of managing relationships with key customers or accounts. This includes understanding their needs, developing strategies to meet those needs, and ensuring that the customer is satisfied with the products or services provided.
**Alliance Management** #
The process of managing relationships with strategic partners, such as suppliers, distributors, or other companies in a value chain. This includes developing and maintaining relationships, coordinating activities, and ensuring that the partnership is beneficial for both parties.
**Channel Management** #
The process of managing the various channels through which a company sells its products or services. This includes developing strategies to reach target customers, coordinating activities across different channels, and measuring the effectiveness of each channel.
**Co #
branding**: A marketing strategy in which two or more brands collaborate on a product or service. This can help to increase brand awareness, reach new customers, and create a positive association between the brands.
**Co #
creation**: A process in which customers and companies work together to create new products, services, or solutions. This can help to increase customer engagement, improve the customer experience, and lead to the development of innovative solutions.
**Co #
marketing**: A marketing strategy in which two or more companies collaborate on a marketing campaign. This can help to increase brand awareness, reach new customers, and create a positive association between the brands.
**Co #
opetition**: A strategy in which companies collaborate with their competitors in certain areas, while still competing with them in others. This can help to improve efficiency, reduce costs, and increase innovation.
**Cross #
functional Team**: A team that includes members from different departments or functions within a company. This can help to improve communication, coordination, and problem-solving.
**Customer Lifetime Value (CLV)** #
The total value of a customer to a company over the entire relationship. This takes into account the revenue that the customer generates, the costs of serving the customer, and the length of the relationship.
**Customer Relationship Management (CRM)** #
The process of managing relationships with customers. This includes developing strategies to reach and engage with customers, managing interactions with customers, and analyzing customer data to improve the customer experience.
**Customer Segmentation** #
The process of dividing customers into groups based on common characteristics, such as demographics, behavior, or needs. This can help to improve targeting, messaging, and overall marketing effectiveness.
**Distributor Management** #
The process of managing relationships with distributors, who are companies that sell a company's products or services to other businesses or consumers. This includes developing strategies to reach target customers, coordinating activities, and measuring the effectiveness of the distribution channel.
**Franchising** #
A business model in which a company (the franchisor) grants a license to another party (the franchisee) to operate a business using the franchisor's brand, products, and services. The franchisee pays a fee to the franchisor for the right to use the brand and access to the franchisor's systems and support.
**Key Account Program** #
A program that focuses on managing relationships with key customers or accounts. This includes developing strategies to meet the customer's needs, providing dedicated resources, and measuring the success of the relationship.
**Marketing Channel** #
A channel through which a company sells its products or services to customers. This can include direct sales, retail sales, online sales, and other channels.
**Partner Relationship Management (PRM)** #
The process of managing relationships with partners, such as suppliers, distributors, or other companies in a value chain. This includes developing and maintaining relationships, coordinating activities, and ensuring that the partnership is beneficial for both parties.
**Partnership Management** #
The process of managing relationships with strategic partners, such as suppliers, distributors, or other companies in a value chain. This includes developing and maintaining relationships, coordinating activities, and ensuring that the partnership is beneficial for both parties.
**Performance Management** #
The process of measuring and improving the performance of a sales channel or partner. This includes setting goals, tracking progress, and making adjustments to improve performance.
**Relationship Marketing** #
A marketing strategy that focuses on building long-term relationships with customers, rather than just making one-time sales. This can include strategies such as customer loyalty programs, customer service, and personalized marketing.
**Retailer Management** #
The process of managing relationships with retailers, who are companies that sell a company's products or services to consumers. This includes developing strategies to reach target customers, coordinating activities, and measuring the effectiveness of the retail channel.
**Sales Channel** #
A channel through which a company sells its products or services to customers. This can include direct sales, retail sales, online sales, and other channels.
**Sales Channel Management** #
The process of managing the various channels through which a company sells its products or services. This includes developing strategies to reach target customers, coordinating activities across different channels, and measuring the effectiveness of each channel.
**Sales Force Automation (SFA)** #
The use of technology to automate and improve the efficiency of sales processes, such as lead management, opportunity management, and forecasting.
**Sales Incentive Program** #
A program that provides rewards or incentives to salespeople or partners for achieving certain goals or targets. This can include cash bonuses, trips, or other rewards.
**Sales Planning** #
The process of developing a plan for the sales organization, including setting goals, identifying target customers, and allocating resources.
**Sales Training** #
The process of providing education and training to salespeople to improve their skills and knowledge. This can include product training, sales technique training, and training on the use of sales tools and technology.
**Strategic Alliances** #
Long-term partnerships between two or more companies that are intended to create mutual benefits and value. These alliances can include joint ventures, equity investments, and other forms of collaboration.
**Supply Chain Management (SCM)** #
The process of managing the flow of goods, services, and information from suppliers to customers. This includes developing strategies to improve efficiency, reduce costs, and increase customer satisfaction.
**Value Chain** #
The series of activities that a company goes through to create and deliver a product or service to customers. This includes activities such as research and development, manufacturing, marketing, and distribution.
**Value Proposition** #
The unique value that a company's product or service offers to customers. This can include factors such as price, quality, convenience, and innovation.
**Wholesaler Management** #
The process of managing relationships with wholesalers, who are companies that sell a company's products or services to other businesses. This includes developing strategies to reach target customers, coordinating activities, and measuring the effectiveness of the wholesale channel.