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Channel Marketing > Week 1 > Flashcards

Week 1 Flashcards

1
Q

Direct strategies what are they

A

No intermediary between the company and the customer

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2
Q

Direct strategies

A

Direct to consumer marketing
E-commerce and marketing web sites
Tele/ call centres
Sales force
Company-owned bricks and mortar
Service fulfilment

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3
Q

Indirect channels

A

The organization does not take care of the functions internally. They involve third party intermediaries.

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4
Q

With indirect approach what do intermediaries manage?

A

Blend most or all of the tactics used in direct channel marketing
Depends on business model, size and scope of enterprise

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5
Q

Customer journey is

A

A 360° view of the distribution strategy from start to finish

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6
Q

Stages of the customer journey

A
  1. Trigger
  2. Influence
  3. Transact
  4. Post-transact
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7
Q

What do you consider when selecting a channel to reach target?

A

Market access
Channel performance
Channel loyalty
Cost

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8
Q

What is the distribution strategy

A

The core component to your overall strategy

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9
Q

What has the proportion of product cost to get products to market grown?

A

Market and media segmentation and fragmentation, which has caused distribution channels to multiply

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10
Q

Why does distribution strategy matter?

A

Organizations need to utilize multiple channels to reach customers

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11
Q

Analyzing business models/ market access is an important strategy in what?

A

Understanding profitability, driving down costs and increasing an organizations competitive advantage

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12
Q

Describe the difference between direct and indirect distribution channels

A

Direct distribution channels involve a direct connection between the organization and the customer.
Indirect distribution channels involve intermediaries between the organization and the customer

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13
Q

What is the strategic difference between direct and indirect distribution channels?

A

The strategic differences lies in the level of control and cost. Direct distribution channels provide more control but can be more costly, while indirect distribution channels offer less control but can be more cost effective.

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14
Q

Define internal and external channels in the context of marketing and sales

A

Internal channels refer to the organizations own resources and strategies, while external channels involve third- party intermediaries

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15
Q

What are examples of internal channels in marketing and sales

A

Examples of internal marketing include direct “go to market” strategies, e-commerce and marketing websites, tele/call centres, sales forces, company owned outlets, and service fulfillment

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16
Q

When would an organization involve third- party intermediaries in their distribution channels?

A

An organization may involve third-party intermediaries when they cannot or choose not to handle all functions internally, such as in the case of a direct approach

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17
Q

What are some examples of external channels in marketing and sales?

A

Examples of external channels include using third-party strategies, resources, and entities to manage functions like distribution and marketing

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18
Q

Describe the role of e-commerce and marketing websites in marketing and sales channels

A

E-commerce and marketing websites serve as channels for organizations to reach consumers directly, allowing them to showcase their products or services online

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19
Q

What factors determine the use of internal and external channels in marketing and sales?

A

The use of internal and external channels depends on factors such as the organizations business model, size, and scope of enterprise

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20
Q

What do the purpose of tele/call centres in marketing and sales channels?

A

Tele/call centres serve as channels for organizations to interact with customers, provide support, and handle sales inquires or transactions.

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21
Q

Describe the concept of direct-to-consumer (d2c) marketing in relation to marketing channels.

A

Direct to customer marketing involved using direct channels to reach and sell products or services directly to consumers, bypassing intermediaries.

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22
Q

Describe the purpose of an organizations distribution strategy

A

To get their products or services to the consumer market

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23
Q

Define the customer journey in the context of a distribution strategy

A

A 360-degree view of the distribution strategy from start to finish

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24
Q

What are the 4 stages of the customer journey?

A

Trigger, influence, transact, post-transact

25
Q

How can an organization ensure that their channels are presenting customers with the right information to make the right solution choice?

A

By ensuring that their channels are providing accurate and relevant information.

26
Q

How can an organization leverage their channel partners to ensure maximum reach and relevance to their message?

A

By collaborating with channel partners and utilizing their resources and networks.

27
Q

Describe the customer lifecycle

A

The customer lifecycle refers to the stages a customer goes through from awareness to advocacy, including purchase, usage, and loyalty

28
Q

Define the term advocacy is the context of customer lifecycle

A

Advocacy in the customer lifecycle refers to customers becoming advocates for a brand or product, promotion it to others and providing positive reviews and recommendations

29
Q

How can you ensure that your sales channels raise awareness about the needs your solutions address

A

You can ensure that your sales channels raise awareness about the needs your solutions address by providing them with comprehensive product knowledge, effective marketing materials, and training on how to communicate the value of your solutions to potential customers.

30
Q

Describe the concept of market access

A

Market access refers to the process of getting a product to the desired customer.

31
Q

How can you determine where and how your customers prefer to buy?

A

You can determine where and how your customers prefer to buy by analyzing their purchase behaviour, such as whether they prefer online or physical retail locations and which devices they use for purchasing.

32
Q

What is the importance of channel performance in relation to brand promise?

A

Channel performance is important in fulfilling the brand promise and providing the necessary support and experience for customer throughout their purchase journey.

33
Q

Define the term reduced pain plains in the context of distribution strategy

A

Reduced pain points refer to minimizing obstacles or difficulties that customers may encounter during their purchase journey, making the process smoother and more convenient for them.

34
Q

Describe the importance of distribution strategy in your overall strategy.

A

Distribution strategy is the core component to your overall strategy

35
Q

How can you ensure that your brand is a priority for your distribution partner?

A

Channel loyalty to your brand is important. You can ensure that your brand is a priority by making sure your distribution partner is dedicated to your brand and not managing thousands of others.

36
Q

What factors should be considered when evaluating the financial model of your offering?

A

Cost is an important factor to consider. The financial model should work for both you and your channel partner.

37
Q

What level of investment should you makes in a relationship with your channel partners?

A

Engagement is important. You should make a significant investment in buildings relationship with your channel partners.

38
Q

What is the role of all parties involved in the distribution strategy?

A

All parties, including suppliers, intermediaries, and consumers, must participate in financial rewards and benefits in the distribution strategy

39
Q

What is the historical proportion of product cost that consumers have paid to get to market?

A

50% of cost of getting product to market.

40
Q

What has caused distribution channels to multiply?

A

Market and media segmentation and fragmentation have caused distribution channels to multiply.

41
Q

Explain how increased distribution channels and targeted segments have affected costs for distributors

A

Increased distribution channels and targeted segments have increased costs for distributors

42
Q

Why is it important for distributors to increase efficiencies?

A

Increasing efficiencies can help distributors avoid passing on increased costs to consumers

43
Q

Why does strategy matter in distribution?

A

Because organizations now need to utilize multiple channels to reach customers.

44
Q

What makes it difficult to understand the impact of changes in an organizations cost structure?

A

Constantly changing variables make it difficult to understand the impact of changes on an organizations cost structure

45
Q

How can analyzing business models and market access help increase and organizations competitive advantage?

A

Analyzing business models and market access can help increase an organizations competitive advantage by driving down costs and understanding profitability

46
Q

What is the purpose of reflecting in eportfolio?

A

The purpose of reflecting in eportfolio is to document and review activities and progress

47
Q

What are some ways to access the activity details in the content?

A

The activity details can be accessed by downloading or printing the content

48
Q

Describe a multichannel strategy in business

A

A multichannel strategy involved multiple channel partners and platforms to reach end consumers who purchase from more than one place, such as retail, online, and direct channels

49
Q

What are the benefits of a direct distribution model?

A

The direct distribution model allows for a direct line to the consumer, providing an opportunity to build a strong relationship between the brand and the customer.

50
Q

Define one tier distribution model

A

In a one tier distribution model, market access is through a distributor who acts as an intermediary, focusing on multiple products from various suppliers

51
Q

What is a two tier distribution model?

A

A two tier distribution model involves more than one intermediary, resulting in a loss of control over variables related to the product or service. However, it may lead to increased market access

52
Q

How do sales and marketing channels in business become financially complex,

A

Sales and marketing channels in business become financially complex due to the involvement of multiple players and platforms to reach end consumers who purchase from more than one place.

53
Q

Describe the importance of flexibility in a business strategy with multiple business models.

A

Flexibility in a business strategy with multiple business models is important to ensure the benefit of all stakeholders involved in the process, including suppliers and partners.

54
Q

What are challenging business dynamics in the context of getting to market?

A

Challenging business dynamics in the context of getting to market refer to the complexities and variables involved in sales and marketing channels, as well as the distribution models.

55
Q

What are potential advantages of a multi-channel strategy

A

A multichannel strategy can provide access to a wider range of consumers through different channels, allowing for increased market reach and potential sales.

56
Q

Describe the concept of a two tier distribution model

A

A two tier distribution model involved the presence of more than one intermediary between the supplier and the end consumer, which may result in a loss of control but can also lead to increased market access.

57
Q

How does a one tier distribution model work?

A

In a one tier distribution model, market access is achieved through a distributor who acts as an intermediary, focusing on multiple products from different suppliers.

58
Q

What are variations to typical business models?

A

Multiple tier distribution
Aggregators/ liquidators
Platforms
OEM

Channel Marketing (2 decks)

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