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Lakshmi Projects

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Tulane User

on 18 February 2016

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Transcript of Lakshmi Projects

Lakshmi: Hindu Goddess
Wealth, Fortune, Prosperity

Bringing Wealth, Fortune, and Prosperity to Fruition
Lakshmi Projects
Tara Wilford, Katie Frank, Kaya Eskind, Donata Kollmar, and Aaron Root
Agenda
Background

Problems

Solutions

Analysis
Background
Founded 1997
Lakshmi Project
Background:
Product Categories
Conveyor Systems
Horizontal Transfer
Elevator Systems
Vertical Transfer
Background: The MHE Industry
Background: Current Situation
Background: Sales Evolution
1997-2002
2003-2008
2009-2013
Quiz Time!
What are 2 of the 3 main facts about the the MHE industry?
Challenges Facing
Lakshmi Projects
Challenge #1
Challenge #2
Challenge #3
Challenge #4
Suggested Solution
Suggested Solution
Suggested Solution
Suggested Solution
Maintaining customer satisfaction across all regions
Couldn't find balance between search for leads and maintaining relationships
Interdepartmental friction
Promised customer annual maintenance contract follow through
Didn't consult other departments
Issues escalated to top management
Limit product range


Focus on current, successful products


Patent new product
Quality
After-Sales
30 employees (6 salespeople)
Goal: meet customer requirements
India Boom rising orders and growing teams (28 salespeople)
Each product category = separate sales team
Expansion plan recruitment of sales force
Missed a wave of elevators
2013
2014
Operating in 16 Indian States
Employee base of approx 100
Stay at customer location for days
Test equipment ensuring proper function
Maintain assembly deadlines
Collect customer feedback
Tedious, time consuming, standardized check sheets
Job = make sure parts match drawings
One defective component = assembly failure at customer site
Initial Solution:
Sales force split into different departments
Divide Geographically, Then by Product
Geographic Region
Products group
Products group
Hire more experienced salespeople


Make salesforce feel important


Initiate better incentives
Patent product and
sell to third party?
Launch and sell
product to market?

Dumbwaiter Dilemma:
= power
Similar to Nike
Branding
Why Lakshmi?
Quiz Time!
What was one challenge Lakshmi faced that we highlighted in this presentation?
Sales of 60.5 Million US Dollars
Top 5 fastest growing (MHE) companies in India
Possible Answers
India's Growth Potential
Every industrial sector
Important role in infrastructural development
Recruiting and Selecting Specialized Sales People
Competitors Innovations
Customer Expectations?
Conclusion
Issue #1
Maintaining Customer Satisfaction
Division Into Specialized Teams
Issue #2
Maintaining Quality Sales Force
Better Value the Sales Force
Issue #3
Communication Between Departments
Refine Communication System
Issue #4
Dumbwaiter Dilemma
Analysis
Importance of Sales Force Strategy
and Value Based Selling
In Relation to:

How Sales Strategy Translates Into Performance: The Role of Salesperson Customer Orientation and Value Based Selling
Geographic Division
Customer Segmentation
Better Valuing Employees

Value Based Selling to Prioritized Customers
Communication Between Departments
Clear Communication of Sales Strategy to Team

Lakshmi Projects Can Bring Wealth, Fortune, and Prosperity to Fruition
Communication
Any Questions?
Three Key Aspects
India's Growth Potential
In Every Industrial Sector
Important Role in Infrastructural Development
Full transcript