Riordan Sales and Marketing
Currently, Riordan Manufacturing’s system to track historical records and customer information is adequate at best. Due to the fact that most of their previous data and sales were recorded using paper and pencil, several of their information is still kept in file cabinets and organization is difficult. Over the past few years, Riordan Manufacturing has been transitioning to electronically managing their sales information. The information they have available includes the following:
• Dates including order, delivery, and payment dates by order.
• Unit and dollar volume of each product including plastic bottles, fans, heart valves, medical stents, and custom plastic parts rolled up to be examined by product group and customer.
• Sales by customer to include price paid, cost, margin, and discount given.
Some of the sales team members for Riordan Manufacturing still use paper and pencil, as well as a variety of other tools which makes it difficult for their company to build on past knowledge without having this information centralized and easy to access.
Riordan Manufacturing also keeps current and historical records of marketing information to include research and communications. The budget allocations for these are listed below:
Marketing Communications activities include
• Sales force promotions
• Price / volume discounts to key accounts
• Public relations
• Brand development
• Tradeshows, events, and sponsorships
• Customer user group underwriting
• Literature and other collateral material
Marketing Research expenditures include:
• Market size / opportunity studies
• Customer focus groups
• Brand development research
Riordan has a goal of reaching $50 million in revenue over the next few years and has developed a plan to reach this objective through strategies collaborated by Dr. Riordan and an executive team. Their strategies include increased sales to existing customers, and expanding sales to new customers...