Looking for New Markets
As the economy has declined from it’s height the office furniture business was particularly hard hit. As the size of the market shrank, each of the players fought harder for the business that remained. Margins have declined and may never rebound.
One of the leading office products dealers in the Chicago area approached Anchor Advisors to help them to develop strategic alternatives to this trend.
The project began with an analysis of the company’s sales by customer for each of the previous 3 years. The trends that emerged helped our client to identify their most profitable customers and tailor their offerings to more effectively reach those segments. We also helped the CEO to prioritize several new product opportunies; focusing on the ones that would be most attractive to those customers.
The resulting plan was exactly the opposite of what their manufacturer’s marketing department was advising them to do. But by implementing our plan the company was able to stay focused on the companies that contributed the most to their profitability. This allowed them to weather the downturn and left them solidly positioned to take advantage of an uptick in the economy.
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