S&L Plastics is a manufacturer of injection molded; profile extruded, and sheet extruded plastic parts. The company is very diverse producing its own line of products as well as serving as a job shop for other manufacturers requiring plastic component parts.
Situation
The company requested assistance from MRC to profitably improve their sales, position them for long-term growth, and create a Business Plan and expand their marketing efforts.
Solution
MRC selected one of its qualified third-party consultants to guide the company in the development of their Business Plan and to act as their Strategic Business Advisor in the identification of new marketing opportunities to expand their business.
Results
The consultant was brought into the S&L team to evaluate the business strategy and maximize financial performance. The focus was placed on examining existing sales and marketing strategies. After evaluation, several initiatives were suggested to expand sales and redirect sales channels for growth. The entire organization was re-structured for alignment to support these short-term and long-term business development goals. A sales plan was written to define the specific details of each component of the plan. The rationale, the time frame and the required resources were outlined for each step.
The sales and operational plans were totally integrated for proper implementation. S&L networked and interviewed industry professionals with the goal of nationwide representation. They identified the target representative in each geographical territory to have a strong presence with a multiple product line offering of complimentary products to S&L’s capabilities. Then, they scrutinized their market offerings to assure there were no competing products, which could cannibalize their line. To date, S&L Plastics has coverage in 37 states. The company immediately used the new sales force for market intelligence.
Quickly a product line extension was identified with potential sales of $2MM plus. S&L is in development of this product line currently with new customers on the East Coast and plans to market the line across the nation once the initial R&D is completed and marketing collateral material is developed.