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Improved Profit and Sales |
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A manufacturer in the electrical industry suffered a significant fall in profitability and realised it needed to move away from price driven sales.
Solution Competitive Advantage undertook an initial marketing audit. This identified a number of opportunities and a marketing plan was developed which focused on adding value and gaining better control of the company’s routes to market. Over a period of years the business had focused sales effort on its distribution, using discounting to achieve its monthly sales targets. A specification sales team was formed and started promoting the company’s higher value products. This was supported by CPD seminars, specialist literature and analysis of project activity.
Benefits Knowledge of the major construction projects, and the strength of product specifications, meant that the company was able to resist some of the pressures from distributors to reduce price. They took control of their market, halting the decline in market share and strengthening prices. There was subsequent sales growth in the most profitable, specified, product ranges. © Competitive Advantage Consultancy Ltd
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