Market Management is the practice of monitoring the marketplace, organizing and analyzing the results of data collection, and developing strategies for future marketing activities.
The pricing of the product doesn't need to be too high or to low, the price needs to be just a little less then your competitors.
*Promotions are deals to increase sells and gain more profit. *Ex. If you buy 2 pairs of shoes you get the another pair off. *By doing promotions it could increase sells a lot and grow you company larger.
Product/Service management is a marketing that involves obtaining, developing, maintaining, and improving product service mix in response to market opportunities.
By pricing your products as said above it will allow you do sell more for cheap prices and still make more money than your opponents.
Channel Management is a process where the company develops various marketing techniques as well as sales strategies to reach the widest possible customer base.