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Partner Relationship Management (PRM) Definition and Explanation PDF Download

Learn Partner Relationship Management (PRM) definition in marketing with explanation to study “What is Partner Relationship Management (PRM)”. Study partner relationship management (prm) explanation with marketing terms to review marketing course for online MBA programs.

Partner Relationship Management (PRM) Definition:

  • Activities the firm undertakes to build mutually satisfying long-term relations with key partners such as suppliers, distributors, ad agencies, and marketing research suppliers.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong

Partner Relationship Management (PRM) Explanation:

PRM is frequently contrasted with Customer Relationship Management yet the connections inside the business channel that should be adequately figured out how to drive commitment and joint effort are path past the abilities of a CRM framework. A PRM arrangement can help in setting up and keeping up trust and open correspondence over your whole deals channel. PRM procedures try to distinguish and resolve strife in each territory of the channel association, making an increasingly productive arrangement of leading business. Because of this improved joint effort and commitment, you increment the "mindshare" of your divert accomplices bringing about better deals execution. PRM frameworks are a lot of devices that can enable you to all the more likely compose and oversee channel connections. A PRM framework can be taken a gander at as both an innovation arrangement and a business theory.

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