Fastener products are characterized by a wide variety of products, low added value, and low barriers to entry. Only with the corresponding equipment and machinery, production can be carried out. Therefore, the characteristics of such products determine the following types of development. strategy:
1 win by quantity. By providing a large number of products of various specifications, small profits are multiplied by a huge amount, and profits can also be greatly improved. However, due to the relatively high cost of fixed machines, it is only possible to conduct external procurement, and then These buyers are properly managed to provide various specifications of products. At the same time, we continuously promote our brand to win customers.
Moreover, you can create more value through a series of value-added services, such as the following aspects:
One-stop shopping service: Due to the wide variety of fasteners, many different types of fasteners may be used in one product. Therefore, if purchased one by one, it will increase the human cost for the end user, and There is more risk in increasing the complexity of management, and one-stop shopping just solves these problems. It only needs to tell the requirements and requirements, and everything will be solved.
Supply chain management services: The transportation and inventory of fasteners and related management will also generate a lot of additional fees. If it can also help the customer manage and cooperate with the customer's production and carry out the supply chain's docking, then this kind of cooperation already belongs to a This kind of strategic cooperation is a kind of integration and is independent of legal entities. Therefore, once it becomes such a partner, it will be long-term, stable, and will not be replaced, and there will be similar requirements. Will be packaged for you, therefore, it will ensure the long-term development and stability of the business.
New product testing and R&D services: There are many fastener products that are designed and started in the development phase of the customer's project. Therefore, the R&D personnel of the fastener product will also participate in the customer's R&D team and together they will make Once the final product, once involved, has a plan, then the final product must be yours, especially for those products that have strict product quality requirements and have a strong brand. It is even more emphasis on this whole design participation, such as Apple. In addition, there are some samples, performance testing of new products, etc. All these services belong to the top of the value chain. This is undoubtedly an inestimable value for customers.
This model is undoubtedly the most successful bossard model, in the industry has a good reputation and customers, while the company's profits are also growing rapidly year by year, this management to win the company can only appear in Europe and the United States, in Asia and other places is very It is difficult to appear because there is no such culture.
2 win with technology. Through differentiated positioning, the production of some products with high professionalism, high threshold, and high added value also determines that this strategy is not a large number of wins. At the beginning, it may be a professional detail in the local area of ​​the country. After the development of the market to establish a leading position, it is necessary to carry out the promotion and construction of the brand and the development of globalization, because the local market is always limited, and the road to globalization is inevitable, but because of industrial products Is a relatively specialized field, so the establishment of the brand also has a fixed publicity channel in each region. Then, through the strong brand and exclusive strong technical strength, to provide the global professional fastener products, such as aviation, military field Wait.
However, the globalization process is a very difficult and time-consuming process. Therefore, at the beginning, there is no need to set up offices around the world. Global footprint can be achieved through cooperation with some local distributors. PSM's experience also shows that in the 2010 fiscal year, those local distributors who cooperated with each other did a very good job. Although shipments were not very large, the profit margin was the highest. The reasons are as follows:
For an external brand, the price to enter a new market in the local market is very high, including the investment in marketing, manpower, and financial resources, and it may not be effective, but it is for the distribution in the local and in the industry. Businessmen, they have been operating in this place for many years. They are very familiar with the industry and the local market. They also have certain customer resources. They also know key customers and potential customers. Once they have the right products, they know where to send them. It can be done by knowing oneself and knowing oneself. This can be done by an outsider for many years.
1 win by quantity. By providing a large number of products of various specifications, small profits are multiplied by a huge amount, and profits can also be greatly improved. However, due to the relatively high cost of fixed machines, it is only possible to conduct external procurement, and then These buyers are properly managed to provide various specifications of products. At the same time, we continuously promote our brand to win customers.
Moreover, you can create more value through a series of value-added services, such as the following aspects:
One-stop shopping service: Due to the wide variety of fasteners, many different types of fasteners may be used in one product. Therefore, if purchased one by one, it will increase the human cost for the end user, and There is more risk in increasing the complexity of management, and one-stop shopping just solves these problems. It only needs to tell the requirements and requirements, and everything will be solved.
Supply chain management services: The transportation and inventory of fasteners and related management will also generate a lot of additional fees. If it can also help the customer manage and cooperate with the customer's production and carry out the supply chain's docking, then this kind of cooperation already belongs to a This kind of strategic cooperation is a kind of integration and is independent of legal entities. Therefore, once it becomes such a partner, it will be long-term, stable, and will not be replaced, and there will be similar requirements. Will be packaged for you, therefore, it will ensure the long-term development and stability of the business.
New product testing and R&D services: There are many fastener products that are designed and started in the development phase of the customer's project. Therefore, the R&D personnel of the fastener product will also participate in the customer's R&D team and together they will make Once the final product, once involved, has a plan, then the final product must be yours, especially for those products that have strict product quality requirements and have a strong brand. It is even more emphasis on this whole design participation, such as Apple. In addition, there are some samples, performance testing of new products, etc. All these services belong to the top of the value chain. This is undoubtedly an inestimable value for customers.
This model is undoubtedly the most successful bossard model, in the industry has a good reputation and customers, while the company's profits are also growing rapidly year by year, this management to win the company can only appear in Europe and the United States, in Asia and other places is very It is difficult to appear because there is no such culture.
2 win with technology. Through differentiated positioning, the production of some products with high professionalism, high threshold, and high added value also determines that this strategy is not a large number of wins. At the beginning, it may be a professional detail in the local area of ​​the country. After the development of the market to establish a leading position, it is necessary to carry out the promotion and construction of the brand and the development of globalization, because the local market is always limited, and the road to globalization is inevitable, but because of industrial products Is a relatively specialized field, so the establishment of the brand also has a fixed publicity channel in each region. Then, through the strong brand and exclusive strong technical strength, to provide the global professional fastener products, such as aviation, military field Wait.
However, the globalization process is a very difficult and time-consuming process. Therefore, at the beginning, there is no need to set up offices around the world. Global footprint can be achieved through cooperation with some local distributors. PSM's experience also shows that in the 2010 fiscal year, those local distributors who cooperated with each other did a very good job. Although shipments were not very large, the profit margin was the highest. The reasons are as follows:
For an external brand, the price to enter a new market in the local market is very high, including the investment in marketing, manpower, and financial resources, and it may not be effective, but it is for the distribution in the local and in the industry. Businessmen, they have been operating in this place for many years. They are very familiar with the industry and the local market. They also have certain customer resources. They also know key customers and potential customers. Once they have the right products, they know where to send them. It can be done by knowing oneself and knowing oneself. This can be done by an outsider for many years.
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