Channels

Question 1

What are channels?

Answer 1

• Describe how a firm communicates with and reaches its customer segments to deliver a value proposition
• Not just communication but distribution, support
• Channels depend on a specific customer segment, value proposition and desired customer relationship

Question 2

What functions do channels serve?

Answer 2

• Raising awareness
• Helping customers evaluate value proposition
• Allowing customers to purchase specific products and services
• Delivering a value proposition to customers
• Providing post-purchase customer support

Question 3

What is the relevance of the AIDA model?

Answer 3

Customers go through different stages as they become closer to the business (Channels)

Question 4

What is the AIDA model?

Answer 4

• Awareness
  
  • Reach audience and make them aware of message
• Interest
  
  • Stimulate interest by engaging with your audience and providing useful information
• Desire
  
  • Build curiosity and tap into your audience’s needs
• Action
  
  • Be clear on what people will gain - and tell them what they need to do next

Question 5

What are the channel types in the channel phase framework?

Answer 5

• Partner/Own
• Direct/Indirect
• Wholesaler: Partners + Indirect
• Own Stores: Own + Indirect
• Web Sales: Own + Direct
• Sales force: Own + Direct

Question 6

What is the channel phase framework?

Answer 6

• 1. Awareness
     - How do we raise awareness about our company’s products
• 2. Evaluation
     - How do we help consumers evaluate our VP
• 3. Purchase
     - How do we allow customers to purchase products
• 4. Delivery
     - How do we deliver a VP
• 5. After sales
     - How do we provide post purchase support to the VP

Question 7

What types of channels are there?

Answer 7

• Distribution

* Communication

Question 8

What are distribution channels?

Answer 8

• Those through which customers gain access to the VP. These must cover all of the tangible and intangible components of the VP
• An approach to determining distribution channels is to consider the sequence and timing of delivery for the different components of the VP
• Not all distribution channels must be owned by the venture. Some may be accessed through partners
• e.g. supermarket, retail chain, netflix

Question 9

What are communication channels?

Answer 9

• Those through which the message is transferred to customers. This includes every stage of their interaction with the venture: before, during and after they engage
• A strategy for determining communication channels is describing why they are the most appropriate to a particular customer segment
• These will comprise a set of different actions and items that will be used to communication with them
• Includes listening as much as telling

Question 10

What is journey mapping?

Answer 10

• A graphical representation of a stakeholder’s actual or ideal experience as they interact with the organisation
• The aim of this tool is to provide a shift of focus from the organisation to the stakeholder, reducing the risk of misunderstanding what they actually value
• Data is gathered through observation and interviews. Along the way, you are looking for emotional highs and lows, pains and need, and the meaning that the experience holds for the stakeholder

Question 11

What are things to look for in journey mapping?

Answer 11

• Confusion
• Overexertion
• Pain points
• Appropriation
  
  • Look for instance in which the user brings approaches or solutions from a different context to facilitate their journey
• Skipped steps