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TO SUVIVE AND THRIVE IN TODAY'S MARKET, YOU MUST ANALYZE THE VALUE-ADDED SERVICES THAT YOU AND YOUR COMPETITORS OFFER. THIS EXCERT FROM THE UPCOMING SECOND EDITION OF "THE ELECTRICAL MARKETER'S SUVIVAL GUIDE" WILL HELP YOU DO THAT.
To compete and survive in today's tough market, electrical distributors must offer better value-added services than their competitors. A value-added service makes life easier for a distributorship's customers or enables it to do a better job distributing electrical supplies. It often requires an investment on the company's part in itself or in its employees to make those services happen.
Value-added services can help differentiate an electrical supply house from its competitors. A distributorship must regularly take stock of the services it offers - as well as those of its competitors. By taking a close look at the services a competitor is unwilling or unable to perform, a distributor may find an opportunity to offer something extra to customers. The company with the best package of value-added services will win its unfair share of the market most of the time.
This article will teach electrical distributors how to analyze the value-added services that their companies and competitors offer. Manufacturers and reps can use it to size up a distributor or to prepare a marketing plan with one. It also offers a three-step approach to establish a company as the primary source of electrical supplies in its market. Let's take a look at each of this strategy's three key elements.
1. Scope out the marketplace.
2. Examine the packages of valueadded services that you and your...