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Transcript of CUTCO
Corporation Double click to crop it if necessary (cc) photo by Metro Centric on Flickr (cc) photo by Franco Folini on Flickr (cc) photo by jimmyharris on Flickr (cc) photo by Metro Centric on Flickr Cindy (AKA the ROSE)
1. Seasonal sales (17 weeks)
summer sales strongest ;
2. 90% turn-over of sales reps (college) & 55% sales reps is male
International margins 2.5%
1. 60 years of operations; Brand name Recognition (Company Name) and American Icon
Broad product-line >500 units- unique design with patent
2.Acquired Vector Marketing Corporation with strategic locations in all regions of US/Canada
6 geographic sales regions; strong sales force and low cost (280 districts + 280 branch offices + summer offices)(independent contractors sales force)College reps move to management roles within the company
1. Increase Brand awareness to customer base
2. Supplemental selling-catalog & online sales maintaining conventional college student program Increase Brand recognition
Strong word of mouth $1-2 Million in Public relations - could lead to $10-20 million
No significant downside
1. Competitors use Department store marketing with lower cost products
2. Price increase 5% every other year: 2003 . . . due to rising labor and material cost Big Al VP Marty STRENGTHS WEAKNESS OPPORTUNITIES THREATS CUTCO Corporation is a privately held company that manufactures and sells cutlery products and is based in Olean, NY
Over 60 years of experince in the cutlery business CUTCO Corporation Revenues
2005 2006 2007 2008 2009 Est.
Vector (Direct Sales) $115,625 $137,890 $157,474 $170,171 $195,700
Vector (Catalog) $18,680 19,763 18,610 16,118 16,600
CUTCO International 9,609 10,315 11,336 11,843 12,862
KA-BAR/Schilling/Internet 8,232 8,417 9,794 10,906 12,100
Totals $152,146 $176,385 $197,214 $209,038 $237,262
%Inc. 15.93% 11.81% 6.00% 13.50% Alternatives:
1. Increase Brand Recognition
2. Develop Supplemental Sales Channels Develop Supplemental Sales Channels
Catalog (winter mailing - 50,000 orders, approximately $8 million in sales)
Online - additional $8 million based on limited test for certain customers
Empowered customers who don't want direct selling experience
Move into 21st Century Vector Marketing Corporation™ is a single-level direct sales firm that markets Cutco Cutlery exclusively.
Vector Marketing is a privately owned subsidiary of Cutco Corporation and is responsible for the sales force.
Supplemental Selling Channels