There are many things I learned this semester, but a few stood out more than others. First, successful business starts with strategic relationships. The customer and manufacturer relationships must be of high quality. The customer relationship with the distributor can be accessed with a customer stratification model. The profitable relationships can be determined by this model. Which, is done by comparing metrics of sales volume, gross margin, customer life, and cost to serve. The relationship the distributor has with the manufacturer can be analyzed in a similar way. The supplier stratification model uses metrics of supplier loyalty, margin, supplier performance, and distributor services to determine which relationships prevail profitable. Second, a distributor’s main asset is their control of customer information. This information can be specific to the customer, or feedback on a certain product. If the manufacturer had this information, the value the distributor provides can deplete. Distributors must weigh the pros and cons of giving up valuable information, while still staying loyal to both the customer and manufacturer. Third, from research I have found that there rests two types of distributors. For technical distributors, it is common to not have a private label. The expertise of products their vendors provide is not easily replicated, and therefore not profitable. Although, commercial distributors can form ...
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... agreement, effective business will not be done. Neglecting problems and conflict is detrimental to the business as well. The relationship should be an alliance. Both parties act on the same team for each other’s benefit. This is seen easily in exclusive distribution. In summary, these three keys are essential to the course.
The course could be improved. The syllabus has dates when assignments are due, but I wouldn’t be able to work on an assignment until the details were posted. Which, seemed like the a few days before the assignment was due. The group project remains a beneficial experience, but some of the topics seemed insignificant. New product development was vague, Womack does not even produce their own products. The topics that were based on an actual problem, like E-Commerce and Millennials, received a genuine solution. Overall, I am glad I took the course.
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