David Michael & Co.
An Overview of the Industry,
Company & S.T.A.M.P.
March 22, 2016
Presentation Overview
• Introduction
• Flavor & Fragrance Industry
– Flavor Industry
• David Michael & Co.
– Corporate, Technical, Sales Force
• Sales Training Account Management
Program (S.T.A.M.P.)
• Field Experience
• Ideal Candidate
• Compensation
Introduction
• Graduated with Finance Degree from
the University of Virginia
• Joined David Michael in May of 2000
• Manage New England Territory
– Based in Boston, MA
• Oversee Recruiting and Training for
Sales Training Account Management
Program (S.T.A.M.P.)
Flavor & Fragrance Industry
• $17.7 Billion Industry Worldwide
• Divided into Three Different Segments
– Flavors
• Food, Beverage, Tobacco & Pharmaceuticals
– Fragrances
• Soaps, Detergents, Cosmetics, & Toiletries
– Essential Oils & Aroma Chemicals
• Derived from Plants, Animals and Chemical Intermediates
• Raw Materials Used to Manufacture Flavors & Fragrances
Flavor & Fragrance Industry
• Over 500 Flavor & Fragrance Companies
Worldwide
• Top 5 Flavor & Fragrance Companies
1.Givadaun:
2.IFF:
3.Firmenich:
4.Symerise:
5.Quest:
$2.35 Billion
$2.03 Billion
$1.73 Billion
$1.54 Billion
$1.10 Billion
(13.3%)
(11.5%)
(9.8%)
(8.7%)
(6.2%)
Flavor Industry
• Have You Ever Considered How Food
and Beverages Achieve Their Taste?
• For instance, How Does..
– Haagan Dazs Ice Cream Taste Like Cookies
& Cream?
– Honey Maid™ Graham Crackers Taste Like
Cinnamon?
Flavor Industry
• They Achieve Their Taste Through the
Use of FLAVORS
• Flavors are Incorporated During the
Manufacturing Process of Food,
Beverages, Tobacco & Pharmaceuticals
• Without Flavors, the Final Product May
Not Taste Like Anything at All
Flavor Industry
Cookies & Cream Ice Cream
Ingredients: cream, nonfat milk, Oreo chocolate
cookies pieces (sugar, enriched flour (wheat flour,
niacin, reduced iron, thiamine mononitrate, riboflavin,
folic acid) vegetable shortening (partially
hydrogenated soybean oil), cocoa (processed with
alkali), high fructose corn syrup, corn flour, whey,
(from milk) corn starch, baking soda, salt, soy lecithin
(emulsifier), VANILLIN, AN ARTIFICIAL FLAVOR,
chocolate), sugar, corn syrup, whey, N&A VANILLA
FLAVOR, cellulose gum, mono and diglycerides, guar
gum, carrageenan, polysorbate 80, annatto color
Flavor Industry
Cinnamon Graham Crackers
Ingredients: enriched flour (wheat flour, niacin,
reduced iron, thiamine mononitrate [vitamin b1],
riboflavin [vitamin b2], folic acid), sugar, partially
hydrogenated soybean oil, graham flour, high
fructose corn syrup, honey, molasses, corn syrup,
calcium carbonate (source of calcium), leavening
(baking soda, calcium phosphate), salt, cinnamon,
dextrose, NATURAL FLAVOR.
Flavor Industry
• Flavors Are Used for the Following
Reasons:
– Provide Characteristic Flavor, which is the Stated
Flavor of Food or Beverage
– Enhance Existing Flavor
– Compensate for Natural Flavor Loss
– Reduce Costs
• Flavor Forms & Origin
– Liquid & Powder
– Natural, Natural & Artificial and Artificial
Flavor Industry
• Possible Customers & Applications in
the Food & Beverage Industry
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Beverages
Candy
Baked Goods
Ice Cream & Frozen Desserts
Alcoholic Products
Flavor Industry
• Flavor Evaluation:
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Gin & Tonic
Beef Filet Mignon
Apple
Basil
Lime
Corporate
• Global Corporation with Headquarters
in Philadelphia, PA
• Privately Owned for over 100 years and
Managed by Two Families
• Operations in California; Mexico City,
Mexico; Valence, France; Beijing,
China
• 250 Employees Worldwide
Technical
• Over 27,000 Flavors and Stabilizers
• Fifty-Two Technical People
• One-in-Three Employees are Technical
• 5:1 Technical to Sales Ratio
• Eleven Flavor Chemists
• Three Chefs
Technical
• Applications Team for Product
Development and Flavor Application
• Pilot Plant Allows for Product and
Process Simulation
• Sensory Lab to Evaluate Products and
Flavors
Sales Force
• Twelve Domestic Account Managers
• Three Geographical Territories
• Current Cities Occupied by Account
Managers
– East Coast: Toronto, Boston, New York,
Philadelphia & Atlanta
– Midwest: Chicago, Minneapolis, Columbus &
Dallas
– West Coast: Los Angeles & San Francisco
Sales Force
• Average Years of Employment: 11.4
• Schools Attended & Home States
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Indiana University, Kansas
University of Virginia, Connecticut
Cornell University, New York
Penn State, Pennsylvania
Virginia Tech, Delaware
Notre Dame, Illinois
S.T.A.M.P.
• Goal & Purpose
Established in 1979, to Ensure that David
Michael’s Account Managers are the Best
Trained in the Industry
• 12 – 18 Month Personalized One-on-One
Training Program
• Based at Headquarters in Philadelphia, PA
• No More than Two Candidates Participate
in the Program at any Given Time
S.T.A.M.P.
• Overview of First Half (Months 0–6)
– Train and Work in Total Customer
Satisfaction Department
– Participate in Morning Meeting with
President and Vice President of Technical
– Attend Classes
– Complete Quizzes & Written Midterm
S.T.A.M.P.
• Overview of Second Half (Months 6–12)
– Continue all First Half Activities
– Field Trips with Account Managers
• Approximately Ten Trips
– Attend Penn State Ice Cream Short Course
Held Annually in January
– Complete a Five Hour Oral and Written
Final Exam Administered by Both the
President & S.T.A.M.P. Trainer
S.T.A.M.P.
• Over 90 Classes Covering the Following
Three Areas:
1. Product Knowledge & Information
2. Sales Skills
3. Company Departments
• Classes Taught by Over 30 Employees,
Including S.T.A.M.P. Trainer,Technical and
Upper Management
S.T.A.M.P.
• Product Knowledge & Information
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Introduction to Food Science
The Art of Tasting
Flavor Basics
Creative Flavors
Chocolate Manufacturing
Distilled Spirits Products
Vanilla Market
S.T.A.M.P.
• Sales Skills
– Art of Making a Presentation
– Traveling Tricks
– Account Management, Organization &
Time Management
– Qualifying Accounts
– Forecasting & Projections
– Current Industry Trends
S.T.A.M.P.
• Company Departments
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Beverage Lab
Confectionary Lab
Vanilla Lab
Manufacturing Facility
Costing Department
Quality Control Departments
Sample Lab
Field Experience
• Relocate to Manage a Multi-State
Territory
– To be Determined Towards the End of
Training Based on Need
– Take in Consideration Background
• Work from Home Office and Report to
District Manager
• Entrepreneurial Opportunities
Field Experience
• Provided with Tier Call List Consisting of
Multinational, National & Regional
Companies
• Possible Types of Business Relationships
– Existing Relationship & Annual Sales
• Guaranteed Minimum Annual Sales of $350,000
– Existing Relationship & No Annual Sales
– No Existing Relationship & No Annual Sales
• Requires Cold Calling
Field Experience
Consultative Sales Process
Ideation
Trends, New Product News, Market Research
Base Development
Texture technology
Flavor Profile
Innovation, Flavor Technology, Pilot Plant Validation
Goal Validation
Sensory and Consumer Testing
Field Experience
• Long Term Career Path in Sales:
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Associate Account Manager (0)
Account Manager (4)
Senior Account Manager (2)
District Account Manager (3)
Regional Account Manager (3)
Field Experience
• Additional Attributes of Position
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Full Access to Upper Management & Mentors
Small, Close Knit Work Environment
Diverse Customer Base & Products
Strong Business Relationships Lead to…
• Close Friendships Not Strictly Based on Work
• Customers Calling You for Sample Requests
– Lucrative Long Term Career in Business to
Business Sales
Ideal Candidate
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December 2005 or May 2006 Graduate
Strongly Sales Orientated
Self Disciplined and Motivated
Strong Organizational Skills
Strong Communication Skills
Enthusiasm for Travel
Committed to Two Relocations
Compensation
• Competitive Base Salary with a 10% Raise
Upon Graduation
• Aggressive Incentive Programs
• Semi-Annual Bonus
• Company Car, Expense Account & Laptop
• Medical (PPO), Dental and Eye
• 401K with Company Matching
• Profit Sharing
Next Steps
• First Round Interviews will be held on
February 16, 2006.
• Second Round Interviews will be held
in Indianapolis shortly after First Round
Interviews.
• Final Round Interviews will be held in
Philadelphia, PA.
Conclusion
Question & Answer
John A. Monsif
Account Manager
215. 632.3100, extension 1113
Jmonsif@dmflavors.com