Glossary Term
Channel Sales
Definition
Channel Sales refers to a sales strategy where a company partners with third-party distributors, resellers, or agents to market and sell its products, rather than relying solely on direct sales to customers. In the MedTech industry, channel sales are often used to expand market reach, especially in regions where the company lacks direct representation.
Relevance to the MedTech Industry
Channel Sales enable MedTech companies to leverage established networks, expertise, and infrastructure of partners to distribute their products more effectively. This approach facilitates market entry, reduces operational costs, and allows manufacturers to focus on core activities like R&D and product innovation.
Additional Information & Related Terms
Go-to-Market Strategy Channel Sales is a key component of commercialization strategies in MedTech.
Distributor Agreement Legal contracts defining the relationship and responsibilities between MedTech companies and their channel partners.
Key Performance Indicators (KPIs) Used to measure the success of channel sales strategies.
Customer Relationship Management (CRM) Systems often track channel sales activities and partner performance.