Posts Tagged ‘ strategy ’

New Auto Market Research: Secrets of Parts Buyers Revealed

May 7, 2012
New Auto Market Research: Secrets of Parts Buyers Revealed

New BuyerZoom and BrandZoom reports are available through the Hedges & Company Market Research Store. We’ve added new reports covering engine bearings, carburetors, connecting rods, cylinder heads, engine blocks, performance fasteners, fuel and oil pumps, gaskets, lifters, pistons, push rods, rocker arms, valves, and valve springs. For the first time in the automotive aftermarket it is possible to obtain affordable research reports focused on buyers of specific types of parts. BuyerZoom reports give you extensive behavioral data on consumers who shopped for or purchased specific types of parts, while BrandZoom reports show consumer perceptions...

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Stages of Growth in a Company and ‘Growing Pains’

October 15, 2010
Stages of Growth in a Company and ‘Growing Pains’

As a business grows, it goes through major, distinct phases of growth. These phases have unique characteristics and challenges and require some strategic planning. Recognizing these characteristics (even better, preparing for them) will help you manage your business through these challenges, or “growing pains.” Stage One: $1 million (manufacturer) or $2 million (distributor) The first stage typically hits when your business reaches around $1 million in sales for a manufacturer, or $2 million in sales for distribution. Your business is building momentum, but you’re overworked and need additional help. You’ve been adding employees and...

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How A Price Increase/Decrease Affects Gross Profit vs. Unit Sales

October 15, 2010
How A Price Increase/Decrease Affects Gross Profit vs. Unit Sales

If you want to increase gross margin with a price increase, you should know how gross profit is calculated and assuming a drop in unit sales, how many unit sales are needed to maintain the same gross profit. On the other hand if you’re considering a sale you should know how many additional unit sales are needed to maintain the same gross profit. You need to know how total unit sales can drop (for a price increase) or need to increase (for a price decrease) for gross profit dollars to remain the same. The...

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Using the Pareto 80/20 Principle to Analyze your Business and Increase Profits

October 15, 2010
Using the Pareto 80/20 Principle to Analyze your Business and Increase Profits

You’ve undoubtedly heard about Pareto’s Law or the 80/20 principle, although most people only understand 20% of it, 80% of the time. This simple, century-old principle can be used to increase your sales, profits and overall marketing, and is easy to use. Let’s look at how the 80/20 principle can be used to streamline your business, reduce your costs, and increase your profits. First, a quick history lesson: Vilfredo Pareto was an Italian economist and sociologist born in 1848. HIs big discovery, “Pareto’s Law,” claimed in 1897 that basically in any society, 20% of...

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