Candym Case Study

Kevin Patel

006050031

Candym

1. What are the keys to success in this type of industry?

In order to be successful in this industry, firms need to be very innovative, in terms of design. Being able to set new market and consumer trends allows a given company to offer products that consumers want, and that retailers are willing to invest in. Firms need to offer an assortment of products that consumers can choose from, in addition to being present in the market place. By that, I mean that a given firms products needs to be visible on shelves and in a sizeable number of stores to build brand awareness.

One of the biggest factors to success in this type of industry is having a competent salesforce. These are the guys who are the face of your company in a sense, and will be the backbone of building your product line and relationships with retailers.  Sales reps need to be trained in a quality manner so they can translate their skillsets while selling in the fields, which can include frequent training seminars. Above all, developing your brand name from a consumer standpoint cannot be beaten, and being known as the premier supplier can lead to great success.

2. How does the nature of the competitive landscape make it a challenge for Candym?

        The nature of the competitive landscape is a major challenge for Candym in more ways than would be deemed acceptable. First off, some of Candym’s sales reps also were sales reps for their direct competitors, which creates a huge conflict of interest when they are out meeting with customers and trying to sell products. Candym not only needs to make sure that they are leading in innovation and design, but also pricing.

        Moreover, since the sales Candym’s sales reps are focusing on the mainstream business and forgoing smaller territories, this leave room for competitors to build market share and build a bigger name for themselves. This could be the downfall of Candym, if competitors are able to win over more and more customers.

3. What are the most important things a sales rep must do to sell in this industry?

In order for a sales rep to be successful in this industry, it goes without saying that they should be subject to constant training sessions so that they can stay on top of their game. If a sales rep knows their product and the market in which they will be selling, they are more likely to be successful. In addition this training should include aspects such as how to take orders properly, making sure all the customers needs are met, and how to analyze sales reports so they can learn from past experiences.

In addition, a sales rep must have exceptional time allocations skills, so that they can spend sufficient time on current customers, as well as build relationships with new customers. Another thing that typically goes foreseen is the ability and willingness to constantly travel, as I feel most sales reps need to explore new markets and regions. Above all, sales reps must be personable so they can relate and build sustainable relationships with customers.