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Garlock Equipment Company Railguard Marketing Plan

Garlock Equipment Company Railguard Marketing Plan

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Page 1: Garlock Equipment Company Railguard Marketing Plan

Garlock Equipment Company

Railguard Marketing Plan

Page 2: Garlock Equipment Company Railguard Marketing Plan

Current Situation

Railguard Sales

0500,000

1,000,0001,500,0002,000,0002,500,0003,000,0003,500,0004,000,0004,500,0005,000,000

2001 2002 2003 2004 2005

$ 1.2 million in sales 40% Gross Profit Growth lifecycle phase

Page 3: Garlock Equipment Company Railguard Marketing Plan

Market Opportunity

Potential Customers 200,000

Market Size $200 million

Page 4: Garlock Equipment Company Railguard Marketing Plan

Competitive Overview

Bluewater Manufacturing $0.8 million in sales this year 1.5 years in business Strong Internet marketing presence

Diversified Fall Protection Similar product Informative Website

Others 6 other companies None considered credible current threat

Page 5: Garlock Equipment Company Railguard Marketing Plan

Factor Analysis

Strengths Product

Freestanding Temporary No drilling Portable Well engineered and tested Simple OSHA compliant OSHA required

Reputation Customer Testimonials

Garlock Excellent customer service 17 years of experience Strong company backing Brad Dunn & Jim Sidla

Weaknesses Heavy Hard to handle Few options Not easily configurable Easy to mis-configure Too simple – can be duplicated easily. May not weather well in corrosive environments

such as marine (unknown). May rust at the base and fail over time.

Opportunities New Demographic Market Segments New Geographic Market Regions Trend is toward movable and away from fixed

barriers Specialty designs for particular purpose Incorporate into consultant recommendations Incorporate into design specifications

Threats Competition Legal liability Distributors as competitors Copycat producers

Page 6: Garlock Equipment Company Railguard Marketing Plan

Market Segmentation

Plant Maintenance, Repair & Operations (MRO)

Safety Assurance Consultant Service Manufacturing Plants Transportation Operations Construction Roofing Food Processing Plants

Page 7: Garlock Equipment Company Railguard Marketing Plan

Product Strategy

Brand Identity Brand Name: Life Guardian Systems Signature Color: Garlock Green

Internet Identity Domain Name: LifeGuardian.com Interactive Website

Packaging Packaged Solutions Labeled Packages

Private Labeling Not recommended

Licensing License active restraint items

Line Extensions Product Line Extensions Service Line Extensions

Protected Features Patents Trademarks

Page 8: Garlock Equipment Company Railguard Marketing Plan

Pricing Strategy

Pricing Structure Payment Terms

Page 9: Garlock Equipment Company Railguard Marketing Plan

Distribution Strategy

Independent Distributors Distributor Targeting Exclusivity Advertising Order Fulfillment Sales Incentives

Page 10: Garlock Equipment Company Railguard Marketing Plan

Promotional Strategy

Direct Sales Commissioned Follow all leads Service existing accounts Penetrate large accounts

Marketing Communications Budget: 7% of projected sales

Promotional Programs Print Advertising Public Relations Website Development Website Promotion Trade Show Signage Sales Support Material

Page 11: Garlock Equipment Company Railguard Marketing Plan

Revenue Projections

1st Year Gross Sales: $2.4 million Net Income: $1 million

2nd Year Gross Sales: $4.3 million Net Income: $2 million

Page 12: Garlock Equipment Company Railguard Marketing Plan

Next Steps

Approve Strategy Approve Budget Develop Tactical Plans

Product Plan Distribution Plan Marketing Communication Plan