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Category Archives: Marketing
Innovation in Aftermarket Offerings for Industrial Marketers
Often the most profitable, yet most neglected, portion of an industrial equipment company’s portfolio is its range of aftermarket solutions, such as replacement parts and repair services. Typically a captive market, aftermarket parts and services offer significant profit margin potential, yet the attitude most often in place at industrial equipment firms is that such sales “just happen” and there is not much that can be done to influence them. This attitude overlooks the great improvement that even a small increase in aftermarket sales can provide to the bottom line.
Also posted in Strategy Tagged aftermarket, industrial, Marketing, profitability, sales, Strategy Leave a comment
Book Review – Beating the Commodity Trap
Beating the Commodity Trap: How to Maximize Your Competitive Position and Increase Your Pricing Power provides some outstanding advice and case studies on using value equivalence lines (or price-benefit lines) to understand pricing dynamics in your industry and craft strategies to respond to commoditization pressures.
Strategic Pricing Using Value Equivalence Lines
To improve on your outdated cost-plus pricing approach, consider developing and using Value Equivalence Lines (VELs) to help set you positioning and pricing strategies in a given market.
Spreading More Crumbs of Cogitation
In recent guest posts on other blogs, I discuss why Six Sigma is a bad idea for startups, how to extend your brand presence at trade shows, the impact of demographics on business, and leadership tips from Jack Welch.
Also posted in Leadership, Strategy Tagged branding, communications, economics, entrepreneurship, industrial, Leadership, Marketing, Strategy Leave a comment
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Successfully Selling Through a Price Increase