![]() Product – Channel Fit – E-commerce provides a highly dynamic enviorment where data can be tracked in realtime. Optimizing advertising and marketing efforts – Effective channel management can help BTG to optimize its marketing and advertising efforts in the Biotechnology & Drugs industry. This is a highly effective strategy in products where the maximum source of revenue is post sale services and maintenance. Secondly it can keep the core products away from marketplace so that it can guard the data. Some of the effective channel management strategies for BTG in the Biotechnology & Drugs industry are –ĭata sharing strategy – BTG can use entry level products on marketplace to gather data about consumer usage. Optimization of marketing efforts can lead to higher ROI and better consumer expecations management. Secondly it needs to integrate its content management strategy with its overall advertising and marketing strategy. ![]() Optimizing content to enable direct consumers on its website – Inward marketing is the most immersive form of marketing but to utilize it BTG needs to have a robust content optimization strategy. Recent case studies of Amazon use of suppliers’ data to introduce its private labels have highlighted the dangers of dependence on marketplaces. BTG data strategy in the Biotechnology & Drugs needs to robust measures that can enable it to share data with multiple marketplaces and channel partners without compromising its competitive advantage. Social media marketing – Prior to the social media, organizations only had to deal with wider media only during the quarterly call, but now each organization such as BTG needs to have a vibrant and relevant social media marketing strategy.Ĭhannel partners and data sharing – Data has become the critical source of competitive advantage in the current business environment. Some of the challenges that BTG can face in channel management are – The Healthcare sector in United Kingdom is highly competitive and it requires highly efficient channel management to meet the demands of customers such as – low price shipping, effective return management, drop shipping partners, highly effective logistics platform, integrated product update mechanisms across various marketplace platforms etc. Given the potential of advertising on the streaming platform, it may be quite possible that Netflix is willing to explore the advertising opportunities in collaboration with Microsoft on its platform after years of resisting the idea.ģ7% of the consumers are discovering products and services by browsing the specific brand or company retail website.Ĥ3% of the consumers in United States of America are discovering products through browsing on various market places BTG biggest challenges around Channel ManagementīTG needs to have a strategy to meet its customers on various above touchpoints otherwise it will risk losing its customers to competitors in the Biotechnology & Drugs industry. The percentages of young consumers discovering products through social media posts are relatively very high compared to the other consumer segments.Ģ5% of the consumers in United States first know about the product through advertisements on streaming services and other platforms. According to a survey conducted by Channel Advisors –ģ3% of the consumers found products via social media posts on platforms such as Instagram, Twitter, and Facebook. The rapid growth in the e-commerce industry has led to consumers using multiple channels to discover products and services, compare prices, research the features, and buy using various financial options available on multiple e-commerce platforms and channels. ![]() Channel Management and Distribution in Biotechnology & Drugs
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