You are the marketing manager for a new insurance service that covers drivers wi
ID: 444765 • Letter: Y
Question
You are the marketing manager for a new insurance service that covers drivers with less than good driving records. You sell your insurance through franchise operations. Your organization is considering implementing a VMS to better coordinate and monitor performance among channel members. You have been asked for recommendations on the monitoring and evaluating component of the VMS. Define, explain, and evaluate the component of a VMS for your product that monitors and evaluates channel partners. Be very specific and complete in your answer. Justify your answer.
Explanation / Answer
Recommendations on the monitoring and evaluating component of the VMS are mentioned below.
Information: This process includes collecting and disbursement informational research concerning factors and forces within the promoting setting required for coming up with and aiding exchange.
Promotion: Developing and spreading persuasive communications concerning a proposal.
Contact: Finding and human activity with prospective patrons.
Matching: The process of matching includes providing a proper Shape and fit the supply to the buyer’s wants, together with activities like packaging, grading, producing and assembling.
Negotiation: Reaching on an agreement on value and different terms of the supply so possession or possession may be transferred. Others facilitate to meet the finished transactions through:
Physical distribution : Transporting and storing product and services.
Financing: getting and mistreatment of the funds to hide the prices of the channel work.
Risk taking: forward the risks of winding up the channel work.
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