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Equipment Dealer Marketing: Focus, Execution, Measurement
Channel Economics, LLC, March 2006, Pages: 18
We have worked extensively with equipment dealerships in developing strategies and plans to help them improve the ways in which they market to, sell to and support their customers. As part of those efforts, we have worked closely with senior management teams at dealerships to define the role of marketing as it relates to their overall go-to-market strategies and plans. Additionally we have worked with marketing management at the department level, advising them on ways in which they can achieve a greater return on their marketing spend and assisting them in designing high impact marketing departments.
Based on this experience, we have observed that marketing, when compared to other areas of the dealership, appears to be underutilized and/or underdeveloped in many cases. Yet the importance of a highly effective and tightly integrated marketing organization is becoming increasingly critical to dealers’ success and competitive advantage in the marketplace.
Ultimately, the opportunity that effective marketing holds for equipment dealerships appears to be vast. Upon that premise, we have launched a web survey in October, 2005 to better understand where dealers are allocating and focusing marketing resources, what metrics they use to forecast and measure marketing efforts and how the manufacturer they represent supports them in the area of marketing. The survey was sent to ~300 managers responsible for making marketing decisions at equipment dealers across the U.S. and Canada.
In December 2005 the survey closed with 68 dealer responses. The 68 dealers that responded to the survey represented a variety of different types of dealerships according to several classifications.
- Number of Employees: 37% of dealerships had less than 50 employees, 43% had 50 to 250 employees and 20% had over 250 employees.
- Length of time in business: 32% established for less than 20 years and 36% in business for over 50 years and the remaining 32% in business between 21 and 49 years.
- Size of Marketing Department: 65% of respondents indicated their marketing department was between 1 - 4 people, 27% had 5 or greater and 8% had zero people in their marketing department.
- Manufacturer representation: Dealers surveyed represented a number of different manufacturers including manufacturers such as John Deere, Komatsu, Caterpillar, Ingersoll-Rand, Volvo and CNH.
- Primary Customer Segments Served: 57% of Dealers surveyed indicated that they primarily serve Construction customers and 32% indicated they primarily serve Agriculture customers. The remaining 11% were spread across Mining, Quarry and Aggregates, Manufacturing and Equipment Services (e.g., Rental Companies, Brokers, etc.).
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