Introduction
Maui Jim looked to get retailers to sell their sunglasses over other brands like Oakley and Ray Ban and wanted to create a program and retail incentive program.
Objective
Increase the sales of Maui Jim sunglasses via national retail outlets.
Strategies
- Determine Key Differentiators and Target Customers: Analyzed market segments to identify differentiators and define target customer lists based on needs and industry trends.
- Define Program Incentives and Growth Strategy: Established incentives and growth strategies to drive sales and expand market share.
- Develop Training Program for Sales Personnel: Equipped sales teams with customer understanding and product knowledge through comprehensive training.
- Run Pilot Program at Select Dealers: Conducted pilot programs to refine initiatives based on feedback and results.
- Launch and Measure Results: Implemented initiatives nationwide, monitoring key performance indicators to track progress.
- Scale Program Nationally / Globally: Scaled successful initiatives across Dealerships to drive sustained growth.
Results
Trained Dealer Salesforce and Increased Sales:
Sales personnel understanding and catering to customer needs led to double expected revenue, surpassing sales goals at 210%.
Conclusion
Caterpillar’s Market Leadership Initiative showcases effective planning, training, and execution in driving market leadership. Through tailored strategies and comprehensive training, Caterpillar solidified its position as an industry leader.
Strategies:
- Define and position Maui Jim’s unique differentiation from its competitors
- Stay true the established Hawaiian brand attributes
- Create a program structure that rewarded increased sales
Result:
Maui Jim exceeded their sales goals within the six-month period of the program.
Conclusion:
Understanding a product’s brand attributes is critical to the success in designing a successful marketing and sales campaign.
