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Multi channel distribution

Multi channel distributionMany companies use multiple channels and distribution systems to sell their products. "With each new sales channel, a company expands its sales and market coverage and gains opportunities to tailor its products and services to the specific needs of diverse customer segments." - Philip Kotler

A multi channel distribution is a set of practices or activities necessary to transfer the ownership of goods, and to move goods, from the point of production to the point of consumption and, as such, which consists of all the institutions and all the marketing activities in the marketing process.

An alternative term is distribution channel - a 'path' or 'pipeline' through which goods and services flow in one direction (vendor to consumer), and the payments generated flow in the opposite (consumer to vendor). A marketing channel can be as short as being direct from vendor to consumer or may include several inter-connected (usually independent but mutually dependent) intermediaries such as wholesalers, distributors, agents, retailers. Each intermediary receives the item at one pricing point and moves it to the next higher pricing point until it reaches the final buyer.


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An example of this is Apple orchard: Apple orchard > Transport > Processing factory > Packaging >> Final product to be sold > Apple pie eaten. To thrive in this multi channel distribution world, eBusiness and channel managers should follow these fundamental steps to channel success:
  1. Define and evangelize a multichannel strategy

    : For many traditional insurers this can start with a commitment to build, or expand direct-to-consumer efforts. Critical to this effort, and any multi-channel, customer-focused effort, is buy-in from senior management. Channel managers must decide what multi-channel offerings should be developed, then articulate this vision internally.
  2. Build a customer-centric multulti channel distribution plan

  3. Integrate customer data

  4. Segment your customers

  5. Implement enterprise analytics

    : These tools let insurers measure the correct partial value of each channel that drove a desired outcome, such as a quote or purchase. Several major auto insurers are investing heavily in media-mix modeling with vendors like Bowman & Partners and Merkle to optimize market spend across every channel.
  6. Offer assisted-service

    : Assisted-service tools such as click-to-chat and click-to-call are essential components to convert Web shoppers to buyers.
  7. Use incentives to reward multi-channel collaboration

Roles of multi channel distribution in marketing strategy:
  1. Links producers to buyers.
  2. Performs sales, advertising and promotion.
  3. Influences the firm's pricing strategy.
  4. Affecting product strategy through branding, policies, willingness to stock and customizes profits, install, maintain, offer credit, etc.

This model requires a single brand message to be communicated across all channels. Multi channel distribution model requires rates, marketing message and interactive customer relationships to be established and maintained across all channels, online and offline. You need to utilize traditional marketing channels to shift business and market share from offline to online and convert customer relationships from passive to interactive.

Consistently growing customers is a challenge for broadband operators. A robust multi channel distribution strategy can help operators grow and retain customers in a changing competitive landscape. A robust sales channel strategy can help grow subscribers while better managing acquisition and sales costs. For example, new channels lead to greater market coverage. More expensive channels such as direct sales or outbound telemarketing should target high value customers or customers with a high propensity to buy the service. Lower cost channels such as the web counterbalance more expensive channels and appeal to a growing segment of consumers. Non-traditional sales channels also often provide lift to existing channels, such as the lift generated by the increased product awareness and credibility created by a retail presence.

Marketing decision models

 

Business strategies definition

  1. Market and product development
    1. Beta testing
    2. Market research testing
    3. Commercialization of a product
      This is often considered post-NPD (New Product Development).
  2. Business and revenue model
  3. Positioning and differentiation
  4. Multi channel distribution
    'With each new sales channel, a company expands its sales and market coverage'.
  5. Multi channel communication
    The goal of writing multi channel communication plan is to get an audience to invest their time, money or efforts in a product or service.
  6. Marketing communication mix
    The importance of online service for some organisations are indicated by bank Nationwide.
  7. Organisational capabilities
 
  1. Idea generation
    1. Opportunity analysis
      The strategy of assessing the potential for a change or enhancement to enhance the generation of revenue.
  2. Idea screening
  3. Business analysis
    1. Break even analysis
    2. Benefits of break even analysis
    3. Fourt Woodlock equation
      The tool used to determine whether the product idea will be profitable or not.
  4. Critical path analysis
  5. How to make critical path analysis?
  6. Critical path in business
  7. Logistics strategic plan
    Logistics is how to get raw materials, move them in the system, distribute and replace them.
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