KWANTLEN POLYTECHNIC UNIVERSITY – MRKT 4160 – BUSINESS DEVELOPMENT Individual Sales Report Yamaha Motors Canada and Teleflex Marine Account Plan Prepared For: Philip Ho Prepared by: Russell Chan - 100171102 11/27/2012 Account Plan Yamaha Motors Canada Prepared For: Aldo Mastropieri, Product Manager, Teleflex Marine Prepared By: Russell Chan 11/27/2012 Page 2 Table of Contents Executive Summary ........................................................................................................................ 5 Business Profile .............................................................................................................................. 6 Mission ........................................................................................................................................ 6 Vision .......................................................................................................................................... 7 Values .......................................................................................................................................... 7 Strategic Plan............................................................................................................................... 9 SWOT Analysis on the Account – Yamaha Motors Canada .......................................................... 9 Strengths ...................................................................................................................................... 9 Weaknesses ............................................................................................................................... 10 Opportunities ............................................................................................................................. 10 Threats ....................................................................................................................................... 10 Procurement Criteria ..................................................................................................................... 10 Basic Principles ......................................................................................................................... 10 Supplier Selection Standards ..................................................................................................... 11 Stakeholders .................................................................................................................................. 13 Internal ...................................................................................................................................... 13 External ..................................................................................................................................... 14 Future Sales Opportunities ............................................................................................................ 14 Future Needs ............................................................................................................................. 14 Account’s Potential ................................................................................................................... 15 Past Sales Records..................................................................................................................... 15 SWOT Analysis on the Company – Teleflex Marine ................................................................... 15 Strengths .................................................................................................................................... 15 Weaknesses ............................................................................................................................... 16 Page 3 Opportunities ............................................................................................................................. 16 Threats ....................................................................................................................................... 16 Positioning Analysis – Teleflex Marine ....................................................................................... 16 Competitive Analysis .................................................................................................................... 17 Innovation.................................................................................................................................. 17 Customer Service ...................................................................................................................... 17 Sales Objectives ............................................................................................................................ 18 Sales Strategy ................................................................................................................................ 18 Action Plan.................................................................................................................................... 19 Control Process ............................................................................................................................. 20 Business ..................................................................................................................................... 20 Contacts ..................................................................................................................................... 21 Information ................................................................................................................................ 21 Customer Satisfaction ............................................................................................................... 21 Data Processing System (CRM)................................................................................................ 21 Bibliography ................................................................................................................................. 22 Appendix ....................................................................................................................................... 24 Appendix 1: Learning Experience............................................................................................. 24 Appendix 2: Organizational Chart – Yamaha Motors Canada ................................................. 25 Appendix 3: Competitive Analysis ........................................................................................... 26 Appendix 4: Action Plan / Implementation Schedule ............................................................... 26 Page 4 Executive Summary The purpose of this account plan is for Teleflex Marine, to secure Yamaha Motors Canada as a key account in the sale of marine navigational equipment. This key account plan examines the account, Yamaha, and its business profile, mission and vision, strategic plan and SWOT analysis. Further, the plan analyzes the current procurement policy in place at the account, its ideal supplier profile and the procurement criteria. The stakeholders and key decision makers at the account will be identified as well as the future sales opportunities available. Next, the account plan describes Teleflex Marine and how the company is a good match to Yamaha Motors Canada. A competitive analysis will be conducted to demonstrate the value Teleflex offers over its competitors. The sales objectives for Teleflex Marine are: 1. To secure a trial order of 10% of a regular order at Prince George Yamaha within a six month period. Teleflex wants to increase the trial order to the remaining Yamaha corporate franchise dealerships and Yamaha certified dealers within twelve months. 2. To secure a retail floor space of 5 foot by 5 foot at Prince George Yamaha to display Teleflex products. Teleflex wants to achieve additional floor space at the remaining Yamaha corporate franchise dealerships within twelve months. 3. To secure a long term five year initial contract with an option to renew with Yamaha Motors and be the primary supplier of marine navigational equipment to the account after the initial twelve months trail order period. Furthermore, an action plan is outlined for Teleflex on how to proceed to initiate contact with the account, Yamaha, leading up to the proposal of the trial order. It is recommended that Teleflex Page 5 pursue Yamaha as a key account as both companies share similar business philosophies and innovation ideals. The success of this negotiation process will ensure the future growth of both companies in the marine industry. Business Profile Yamaha Motors Canada is the Canadian branch of the Yamaha Motors Company based in Japan. The company manufactures to a wide range of product lines including boats, motors and snowmobiles. As of October 2011, Yamaha Motors Canada has been absorbed by Yamaha Motors USA, and has become an American subsidiary. (CMG Staff) Regardless, the company still operates in Canada with headquarters located in Toronto and branch offices, a national parts distribution center, seven product warehouses and over 500 dealers from British Columbia to Nova Scotia. There are approximately 200 employees working from the Toronto headquarters and over 3,000 employees across Canada. According to Hoovers’ company profiles, 2011 annual revenues were $372.1 million. This account plan targets Prince George Yamaha, which is a corporate franchised Yamaha dealership located in the central interiors of British Columbia. The sales contact is Wayne Hamilton and the general manager is Don Pickering. This location currently has 30 employees and around 10,000 square feet of retail space. Mission The mission statement for The Account is “Yamaha Motors strives to realize peoples’ dreams with ingenuity and passion, and to always be a company people look to for the next exciting Page 6 product or concept that provides exceptional value and deep satisfaction. (Yamaha Motors Japan) Yamaha is a self-described Kando* creating company. (Yamaha Motors Japan) Kando is the Japanese word for the simultaneous feelings of deep satisfaction and intense excitement that we experience when we encounter something of exceptional value. Vision “Yamaha Motors Canada Ltd., combines engineering, ergonomics and environmental sensitivity to create “humachine technology”: the harmonious union between human and machine. We integrate the Yamaha philosophy into all of our activities, and focus our energies on providing products which are suited to the unique demands of the Canadian marketplace. Through our close contact with our customers, our goal is to create experiences and memories that will last a lifetime.” (Yamaha Motors Canada) Values The values at Yamaha Motors are centered on three main ideas, which are corporate philosophy, management principles and action guidelines. The corporate philosophy describes the Kando* creating environment that Yamaha strives to achieve in all their products. Management Principles at Yamaha describes strategies that management works towards when communicating with internal and external audiences. (Yamaha Motors Japan) These include: Creating value that surpasses customer expectations o To continue to produce value that moves people, we must remain keenly aware of the customer's evolving needs. Page 7 o We must strive to find success by always surpassing customer expectations with safe, high-quality products and services. Establishing a corporate environment that fosters self-esteem o We must build a corporate culture that encourages enterprise and enhances corporate vitality. The focus will be on nurturing the creativity and ability of our employees, with an equitable system of evaluation and rewards. Fulfilling social responsibilities globally o As a good corporate citizen, we act from a worldwide perspective and in accordance with global standards. We must conduct our corporate activities with concern for the environment and communities and fulfill our social responsibility with honesty and sincerity. Finally, action guidelines allow Yamaha to produce quality products at peak efficiency for their customers. (Yamaha Motors Japan) These guidelines include: “Acting with Speed” o Meeting change with swift and informed action “Spirit of Challenge” o Courage to set higher goals without fear of failure “Persistence” o Working with tenacity to achieve desired results, and then evaluating them Page 8 Strategic Plan Yamaha Motors Canada primarily operates in two sales channels, wholesale distribution and retail. The company offers a wide variety of models across seven different product lines including boats, outboard motors, snowmobiles and motorcycles. Wholesale distribution allows the company to sell products in larger quantities to 3rd party vendors and affiliate stores across the country. These products can include replacement or maintenance parts to outboard motors and vehicles. In the retail channel, Yamaha has several franchised dealerships across Canada for consumers to test drive products before they purchase. In addition, these locations allow customers to bring in their vehicles for scheduled maintenance and repairs as necessary. In order to provide better service to customers, certain dealers are given special designations such as the “Five Star Dealer”, “Star Accessory Dealer” and “Rapid Service Dealer”. These titles reinforce the quality and performance standards at Yamaha, so consumers have confidence when shopping at these locations. SWOT Analysis on the Account – Yamaha Motors Canada Strengths High market awareness of the Yamaha brand image (Seen as a market leader) Coast to coast network of dealerships Long history of operations in Canada (33 years) Sponsor various marine related sporting events Strong R&D department that strives towards innovation Page 9 Weaknesses Large percentage of sales (70%) come from a single product line (Motorcycles) Marine products only make up approximately 14% of consolidated sales Price points are high relative to competition Yamaha Motors Canada was recently absorbed by Yamaha Motors USA (May affect supply chain and distribution) Opportunities Building stronger partnerships with specialized manufacturers Attending additional industry tradeshows to increase product awareness Product innovation as key to competitiveness Industry revenues have seen growth over the past 10 years Threats Marine industry is highly seasonal Global recession results in less economic spending Marketplace is highly competitive Procurement Criteria Procurement criteria standards at Yamaha follow two distinct guidelines in order to meet the performance and quality of products with the Yamaha brand. These rules are the basic principles and supplier selection standards. (Yamaha Japan, 2008) Basic Principles Fair and Open Dealing Page 10 o Yamaha seeks the optimum materials and components globally, in accordance with the principle of free competition. Establish Partnerships o Yamaha values understanding and trust with their suppliers, and seek to establish mutually beneficial relationships. Legal Compliance and Consideration for the Environment o Yamaha will comply with all laws of the countries and regions in which they do business, and pursue procurement that gives due consideration to environmental protection and conservation of nature. Proper Quality and Stable Procurement o Yamaha seeks to achieve a continued and stable procurement of the optimum materials and components backed by exceptional manufacturing technologies and production control capabilities. Promotion of CSR-Based Procurement o The company will actively promote CSR initiatives and seek active CSR initiatives from their suppliers as well. Supplier Selection Standards Yamaha Motors opens its doors to vendors from around the world, and applies the following standards in the selection and evaluation of the suppliers that are to be its business partners. Quality o Suppliers must have excellent systems for quality assurance, able to maintain appropriate levels of quality and safety. Page 11 Delivery o Suppliers must be able to meet specified delivery dates, be flexible in responding to manufacturing changes, and be capable of reducing lead times. Pricing o Suppliers must be able to offer competitive market pricing on an ongoing basis. Communication o Suppliers must be able to establish a relationship with Yamaha Corporation that facilitates prompt, accurate responses and provision of information between the two companies. Management o Suppliers must employ sound management practices. Technology o Suppliers must be able to utilize VA/VE practices in offering suggestions for improvement, including the development of new materials and technologies. Environment o Suppliers must possess a well-defined policy and management system for environmental matters, which they apply in an appropriate and proactive manner. Legal and Regulatory Compliance o Suppliers must comply with the laws, regulations and social conventions of each applicable region or nation. CSR Initiatives o Suppliers must work towards management that gives due consideration to labor and human rights, employee safety and health, the environment, fair trade and Page 12 ethical business practices, quality and safety, information security, and contribution to society. Stakeholders Internal These internal stakeholders are the crucial decision makers for the account and their input will affect whether or not the account will be accepted or rejected. Please refer to Appendix 2: Organizational Chart to see the full mapping of the key contacts. The internal decision makers for the account include Don Pickering, General Manager, Prince George Yamaha, Richard Irwin, Manager of Product Development and Purchasing, Stephanie Cote, Account Manager and Peter Smallman-Tew, Vice President at Yamaha Motors Canada. In addition, Jay Bretherick, Regional Sales Manager and Bryan Hudgins, Marketing Manager would also be involved in the process. Further internal stakeholders will include: Hirotoshi Fujita, President, Yamaha Motors Canada Wayne Hamilton, Sales Manager, Price George Yamaha Board of Directors Shareholders Investors Franchise Owners Corporate Administration Staff Executive Managers Sales Representatives Page 13 Maintenance Workers External The external stakeholders are impact by the outcome of the decision for the account but they are not directly involved with the Yamaha organization. These will include: Competitors Customers Vendors and 3rd party suppliers Local Community Partners Trade Unions Government Future Sales Opportunities Future Needs Yamaha Motors Canada currently operates in a highly competitive industry with many product lines from motor vehicles to robotics. With the market being so highly competitive, it is vital for a company to create innovative products to gain an edge in the industry. Specifically, in the marine industry, market trends have led many manufacturers to examine the feasibility of creating a single engine and steering unit. The steering unit has traditionally been a separate component of the engine block. As Teleflex Marine has a tremendous amount of experience in this field of expertise, there is potential opportunity to foster a sound business relationship. However, Teleflex must ensure that it meets the criteria set out by Yamaha Motors’ Procurement policy. Page 14 Account’s Potential Yamaha Motors Canada has potential through its highly valued brand identity in the marine industry. The company is one of the largest manufacturers of outboard motors and boats in the industry. In addition, the company operates nationwide through over 500 franchised and vendor affiliate stores. Recent industry figures demonstrate that Yamaha marine market share is 37% which has experienced growth from 2009 to 2011. (Trade Only Today) Past Sales Records Over the past fiscal year, Yamaha Motors Canada earned $372.1 million in revenues. Yamaha Marine Group, which sells outboard motors, increased its market share to 36.7 percent in the first half of 2011, from 34.7 percent for the year-ago period, according to data from the National Marine Manufacturers Association. June 2011 retail sales increased by 5 percent compared to June 2010, while July 2011 retail sales increased by 21 percent. (Trade Only Today) SWOT Analysis on the Company – Teleflex Marine Strengths Workforce is highly skilled in producing quality products (Have won numerous awards and 40% of workforce has some degree of engineering background) Industry leader in marine navigational steering equipment Over 30 years experience in the field of marine navigational units Robust research and development department (Military grade stoves and heating systems) Provide quality products and superior customer service Attend various marine industry trade shows to gain brand awareness Page 15 Weaknesses Price points are higher than competitors due to industry leader position Distribution network in Canada is not as robust as the United States High overhead and development costs Opportunities Working with Yamaha to create innovative new products Training workshops at tradeshows where manufacturers can learn about Teleflex technology Marine industry is experiencing annual growth Growth potential in Asia Pacific countries (Where Yamaha currently makes a large percentage of overall sales) Threats Market is highly competitive Need to innovate to remain competitive in industry Copycat products from competition Global Economic Recession resulting in less spending Cost of materials and commodities market (Fluctuating costs of goods) Positioning Analysis – Teleflex Marine Teleflex Marine is currently the industry leader in marine navigational equipment in North America and Europe. The company produces innovative products that the competition struggles to replicate. However, due to the nature of material commodities and development costs, price Page 16 points for Teleflex products are higher than those of competitors. But customers know that they are receiving superior quality and performance with Teleflex products. These traits work in conjunction with Yamaha Motors Canada, who has a similar business philosophy and cultural values with their customers. Clients of both companies expect products that exceed expectations. Competitive Analysis The top competitors to Teleflex in the marine navigational industry; include Mercury Marine, Jastram Engineering and Hypro Marine. Please refer to Appendix 3: Competitive Analysis for an overview of the competition. Despite this, Teleflex Marine believes it can remain competitive through innovation and superior customer service. Innovation Teleflex Marine employs a skilled workforce that totals approximately 300 employees. 40% of this workforce has some degree of engineering background. As such, research and development is a collaborative process at the company and input from various departments is encouraged. The resulting process enables Teleflex to develop a unique and innovative product ready to meet the needs of its customers. In fact, the company has received numerous awards including the 2012 National Marine Manufacturers Association for outstanding innovation. (Teleflex Marine) Customer Service Teleflex offers superior customer service to its clients. From promotional materials, in-store displays, and point of sales materials, to sales training for store managers and sales people. Page 17 Recently, the company was recognized for Best Sales Support by West Marine as part of their Very Important Vendor (VIV) awards. (Hauser) To help equip sales and service personnel with the in-depth product information they need, Teleflex Marine offers online training through its Onboard Program. Additionally, vendors can request Teleflex agents for on-site help to resolve any outstanding issues. Sales Objectives 4. To secure a trial order of 10% of a regular order at Prince George Yamaha within a six month period. Teleflex wants to increase the trial order to the remaining Yamaha corporate franchise dealerships and Yamaha certified dealers within twelve months. 5. To secure a retail floor space of 5 foot by 5 foot at Prince George Yamaha to display Teleflex products. Teleflex wants to achieve additional floor space at the remaining Yamaha corporate franchise dealerships within twelve months. 6. To secure a long term five year initial contract with an option to renew with Yamaha Motors and be the primary supplier of marine navigational equipment to the account after the initial twelve months trail order period. Sales Strategy The sales strategy for Teleflex primarily will be to become the key account supplier of marine navigational equipment for Yamaha Motors Canada, starting with the Prince George Yamaha corporate franchise dealership. Teleflex will initially make contact with the account through Don Pickering, General Manager at Prince George Yamaha, Richard Irwin, Manager of Product Development and Purchasing and Stephanie Cote, Account Manager. Page 18 To ensure a smooth sales process, Teleflex will need to ensure it meets and exceeds the supplier procurements criteria at Yamaha. Next, Teleflex will need to establish a relationship and develop trust with the key individuals. The company will setup sales meetings with Wayne Hamilton to have Teleflex as the supplier of marine navigational parts. During these meetings, Teleflex will provide technical product information as continue to build trust with the key contacts. Once a rapport has been created, Teleflex will provide a low-risk trial order to the account to evaluate the quality and performance of the products. As the relationship continues to foster, Teleflex will begin negotiations with Yamaha to increase the trial order to additional franchise locations and vendor affiliates. By maintaining good relationships with the key contacts and providing high quality and service, Teleflex will begin negotiations to become the key account supplier to Yamaha Canada for marine navigational equipment. Action Plan The action plan will describe the proposed implementation and events schedule for tasks necessary in the negotiation process with Yamaha. Refer to Appendix 4: Action Plan for the detailed implementation schedule. For the first task, Teleflex will perform additional research on Yamaha Motors current product mix to better identify the types of products that would suit the needs of both companies. Next, Teleflex will initiate contact with the account’s key contacts including Don Pickering, Richard Irwin and Stephanie Cote. These individuals are the key decision makers at Yamaha, and building strong rapport with them will be crucial to the success of the negotiations. Teleflex will setup meetings in order to build the relationship as well as gain Page 19 a better understanding of the culture and values in place at Yamaha. These meetings will be the foundation of the needs assessment at Yamaha and allow Teleflex to make adjustments to the key account plan as they are brought forward. Once a solid rapport has been established, Teleflex will contact the key decision makers to conduct a sales presentation. This meeting will allow Teleflex to share its value proposition as well as identify the value-added benefits that a mutual business relationship will provide. Teleflex will then propose the trial order purchase and ensure that the order will deliver the quality and performance that Yamaha expects. Following the success of the trial order, Teleflex will then begin preparations for a long term order from the account. Control Process The control process allows the key account manager to quickly identify the most important aspects of the current sales negotiation. Further, it can be used as a guideline to ensure that the original goals and objectives have been fulfilled. Business In order for Teleflex to be justified in pursuing Yamaha as a potential key account, it must ensure that the return on investment will be worth the time spent. Annual revenues for Teleflex in 2010 totaled $195 million. The typical order received at Teleflex averages $2 million in revenues. (Mastropieri, 2012) Since the sales objective is secure a trial order of 10% of the regular order, Teleflex should expect $200,000 in gross revenue from the Yamaha account in the first year. While this figure is low in comparison to regular orders, Yamaha’s position in the marketplace works in favor of future business opportunities. Page 20 Contacts During the length of the negotiations process, Teleflex will need to establish contact with several individuals in order to build relationship and trust. These individuals are: Don Pickering, General Manager, Prince George Yamaha Wayne Hamilton, Sales Manager, Prince George Yamaha Richard Irwin, Manager of Product Design and Purchasing, Yamaha Motors Canada Stephanie Cote, Account Manager, Yamaha Motors Canada Jay Bretherick, Regional Sales Manager, Yamaha Motors Canada Bryan Hudgins, Marketing Manager, Yamaha Motors Canada Information In order to build trust and relationship, Teleflex will agree to sign off on any required nondisclosure agreements (NDA) prior to the start of negotiations. Customer Satisfaction Teleflex is known in the industry for having superior customer service as can be demonstrated through their numerous awards related to the issue. The company will provide product information, marketing materials and sales training to Yamaha as requested. Data Processing System (CRM) Teleflex will continue to use their current in-house customer relationship management software, SAP, in order to measure and gauge the sales process with Yamaha. Page 21 Bibliography Boating Business Canada. (n.d.). Yamaha Motor Canada in Excellent Inventory Position for 2012. Retrieved October 31, 2012, from Boating Business Canada: http://boatingbusiness.ca/article/860/Yamaha-Motor-Canada-in-Excellent-Inventory-Positionfor-2012 Business Wire. (n.d.). Teleflex Sells Marine Business for $121.6 Million. Retrieved October 31, 2012, from Business Wire: http://www.businesswire.com/news/home/20110322007266/en/Teleflex-Sells-Marine-Business121.6-Million Hauser, R. (n.d.). TELEFLEX MARINE RECEIVES 2012 BEST STORE SALES SUPPORT AWARD . Retrieved October 31, 2012, from Teleflex Marine: http://www.teleflexmarine.com/wp-content/uploads/2012/09/Teleflex-Marine-Receives-2012Best-Store-Sales-Support-Award.pdf Hypro Marine. (n.d.). Research and Development. Retrieved October 31, 2012, from Hypro Marine: http://www.hypromarine.com/ Jastram Engineering. (n.d.). Setting the standard in steering excellence. Retrieved October 31, 2012, from Jastram Engineering: http://www.jastram.com/ Mastropieri, A. (2012, September 27). Teleflex Interview. (R. Chan, Interviewer) Mercury Marine. (n.d.). Mercury Hydraulic Steering. Retrieved October 31, 2012, from Mercury Marine: http://www.mercurymarine.com/gauges-and-controls/steering-systems/hydraulicsteering/ Page 22 Staff, C. (n.d.). Yamaha Motor U.S.A. absorbs Yamaha Motor Canada. Retrieved October 31, 2012, from CMG News: http://cmgonline.com/news/2011/10/05/yamaha-motor-u-s-a-absorbsyamaha-motor-canada/ Teleflex Marine. (n.d.). TELEFLEX MARINE RECEIVES TWO NMMA INNOVATION AWARDS . Retrieved October 31, 2012, from Teleflex Marine: http://www.teleflexmarine.com/wpcontent/uploads/2012/10/Teleflex-Marine-Takes-Two-Innovation-Awards-At-IBEX-Show.pdf Trade Only Today. (n.d.). Yamaha reports 2Q results. Retrieved October 31, 2012, from Trade Only Today: http://www.tradeonlytoday.com/home/499193-yamaha-reports-2q-results Yamaha Japan. (2008). Yamaha Material and Component Procurement Policy. Retrieved October 31, 2012, from Yamaha Japan: http://www.yamaha.com/about_yamaha/csr/guideline_procurement/ Yamaha Motors Canada. (n.d.). Our Company Philosophy. Retrieved October 31, 2012, from Yamaha Motors Canada: http://www.yamaha-motor.ca/our_company/philosophy.php Yamaha Motors Japan. (n.d.). Corporate Philosophy. Retrieved October 31, 2012, from Yamaha Japan: http://www.yamaha-motor.co.jp/global/about/philosophy/ Page 23 Appendix Appendix 1: Learning Experience Through the development of this key account plan, I have gained experience on the importance of such plans in a business to business environment. The key account manager must have a full understanding of his company value proposition and whether or not it is a good match for the account company. The information contained within the report is also crucial to the negotiations process as it can allow the company to establish contact with the individuals who are the key decision makers within the account. Identifying the key contacts will ensure that time is not wasted speaking with people who do not have the final say in the negotiation. In addition, by researching the procurement policy in place at the account, the company can better prepare itself for trial orders and future business opportunities. Next, the key account manager must have a good understanding on the industry and also be able to offer the advantages of their products compared to competition. Finally, the development of an action plan is important as it allows the key account manager to stay on task with deadlines and progress updates. Page 24 Appendix 2: Organizational Chart – Yamaha Motors Canada President Vice-President Manager, Product Design and Purchasing Account Manager Regional Sales Manager Marketing Manager General Manager, Prince George Yamaha Sales Manager, Prince George Yamaha The above organizational chart identifies the key contacts and decision makers at Yamaha Motors Canada. These key contacts are: Don Pickering, General Manager, Prince George Yamaha Wayne Hamilton, Sales Manager, Prince George Yamaha Richard Irwin, Manager of Product Design and Purchasing, Yamaha Motors Canada Stephanie Cote, Account Manager, Yamaha Motors Canada Jay Bretherick, Regional Sales Manager, Yamaha Motors Canada Bryan Hudgins, Marketing Manager, Yamaha Motors Canada Hirotoshi Fujita, President, Yamaha Motors Canada Peter Smallman-Tew, Vice President, Yamaha Motors Canada Page 25 Appendix 3: Competitive Analysis Description Price Point Location Promotion Teleflex Marine Flagship product is the Seastar Hydraulic Steering system Controls and cables Electronic power steering Engine and drive parts Instruments and displays High Richmond, BC Two 10,000 sq ft factories Manufacturer Local Distribution Mercury Marine Engines, outboard motors Gauges and controls Propellers Inflatable boats Medium / High Victoria, BC 5,000 sq ft of retail Manufacturer Local Distribution Jastram Engineering Steering units Lighting Sound signaling Marine fire safety Machinery Hypro Marine Jack plates Custom centralized systems Freedom lifts Steering units Autopilots Medium North Vancouver, BC Low UK based Manufacturer Local Distribution Manufacturer Local Distribution Appendix 4: Action Plan / Implementation Schedule Date Tasks January 2013 February 2013 March 2013 April 2013 May 2013 June 2013 July 2013 August 2013 September 2013 October 2013 November 2013 December 2013 Perform additional research Initiate contact with account Build relationship and rapport Setup meetings to build relationship and gain understanding and culture at Yamaha Needs assessment Refine and make adjustments to key account plan Contact account to hold sales presentation Sales Meeting Propose trial order Deliver order After sales service Evaluate trial order Begin negotiations on long term order Page 26