Channel Marketing Key Terms
Learn about different aspects of channel marketing for businessesChannel marketing is way for many businesses to attract new customers or entice current customers to keep coming back. Channel marketing requires a business to partner with a similar business in order to attract interested customers for both businesses. Networking through channel marketing is a successful technique to reach a new audience that might not have been aware of the other business. This can work equally well when both businesses are promoting each other's services or products.
Channel strategyA channel strategy is the idea on how to accomplish a specific objective. The channel strategy has a number of attributes to help the company match its strengths with the weaknesses of the competition and be successful in channel marketing.
Market development funds(MDF)The market development funds are the funds used to support any initiatives in the channel marketing strategy such as advertising, incentives and trade show expenses.
ObjectiveThe objective in a channel marketing strategy is the long-term goal set by the companies. This goal often takes two or three years to complete and is successful when smaller milestones are set.
Channel captain, channel managerA channel captain, or channel manager, is the partner given a leadership role in the marketing campaign. The captain helps to prevent conflict and organize the channel.
Channel partnerThe channel partner is the other business that exists in a channel marketing relationship. More than one partner can exist in a channel partnership.
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