PRODUCT MANAGEMENT
Product management means we handle your products through the product lifecycle, from new number releases, to managing them on the declining end of the lifecycle so you know when it is time to discontinue an item. Banyan will use its experience to help you with ongoing research of new applications and SKUs to establish market leadership. This process will have us suggesting continual new numbers for your Engineering department to review for manufacturing consideration. We are also always looking for new products that can complement your existing line-up . We identify the trends and communicate how they can impact your business.
COMPETITOR BENCHMARKING
Do you know all of the competitors in the market place and what their strengths and weaknesses are? Who are their key customers, and why do these customers buy from them? If you don’t know these things, you need to so that you know how to compete with them and leverage your strengths against them. We can help get you a deep understanding of the competition all the way down to coverage analysis, and customer perspective.
SOURCING
Banyan Product Solutions can help you determine your existing product supply base options. We’ll help you schedule supplier visits and make sure you’re prepared for their arrival and expectations. We can also help you better understand which of your SKUs are available via outsourcing. Banyan can also assist in the Supplier RFQ process and make a final recommendation for a Make/Buy option at the SKU level.
CATALOGING / PRODUCT INFORMATION MANAGEMENT
Banyan’s expert catalog team will research your products and use its specially-built catalog software to build databases, to create marketing pages and product files that are required to supply to customers so that they can sell your products. This will give you the ability to create and printed paper catalogs, CDs, PDFs and digital catalogs, plus allow delivery of continual electronic cataloging data to customers so that they always have the latest and most accurate information about your products. Of course, digitally-created catalogs can also be modified, as necessary, to be web-based. All of your catalog data managed and mapped using the latest and most up to date ACES industry specifications.
Banyan’s cataloging services can also send monthly change files out to keep pricing and product information accurate and up-to-date. We can also provide you with multiple images for each of your SKUs and create a complete data file with weights, dimensions, marketing copy and Buyer’s Guide info so that we can deliver your data in the latest PIES data format to customers.
MARKETING
Banyan will work with you to create a customized marketing and sales plan to get your products in front of the right people at the right companies. We’ll target select accounts and utilize our existing relationships to capture potential opportunities. We’ll use our established network to make initial contact on your behalf and introduce your company as a potential supplier. Banyan will detail your product’s attributes and even begin a quotation process, if necessary, with prospective retailers.
Banyan can also help you research competitive pricing in the market through retail price shops, customer research and more. Plus we can help establish re-sale pricing strategies and programs per market channel that include Price, Discounts, Payable Terms, Returns Procedures and more.
CATEGORY MANAGEMENT
Banyan’s experienced advisors are at your side to monitor customer sales levels and inventory performance and make recommendations to drive sales, reduce costly returns and create a positive Return on Investment (ROI) throughout the entire supply chain. We’ll also use ongoing Price Shops to capture real opportunities to grow sales and profitability up and down the supply chain. Our experience in category management is extensive and can be a key in helping sell your products and keeping you and your customers winning market share.
CUSTOMER SUPPORT
Banyan has an experienced support staff that can provide you a professional and economical cost solution to provide in market customer support services to your customers. This solution allows us to be you’re in market staff that will manage your customers and your business on your behalf, and provide them an array of daily world class customer and technical services, including:
Customer Services:
- Order Processing
- Vendor Managed Inventory
- General Customer Issue Resolution
- Manage Warranty Return Process
Technical Services:
- Application Assistance
- Provide customer advice for installation problems
- Manage customer labor claim process
- Tech service bulletins
SALES / CUSTOMER RELATIONSHIP MANAGEMENT
Interactions with customers require a level of understanding of the markets they operate within and serve. Banyan understands the nuances of relating to North American companies and what they expect from an international supplier. Banyan will work with you to make certain your customers and prospects are getting everything they need from you. We’ll manage your relationships with large and small customers so you can focus on what you do best. And when a larger customer is ready for a plant tour to see your facilities, we’ll help provide concierge-level service to make sure you put your best foot forward when the visit occurs. We’ll also help with final negotiations and make sure any signed agreements work best for all parties involved.
