Founded in 1989 by Jim and Eileen Fagan, Precision Feedscrews, Inc. remains family owned and operated. PFI was designed to be a service company, not just a manufacturer. COMPANY
164 companies 18,141 employees $3 billion annual revenue Top countries – Japan, USA US production dropped over 20% during the recession. A greater reliance on overseas manufacturing has also cut into the market for US metal products INDUSTRY
Small companies, employ fewer than 50 highly skilled workers Privately owned shops Located near industries that buy their parts High degree of market fluctuation Industry moving more and more abroad Emerging technologies in plastics manufacturing may make company obsolete. Major US Companies: Ball Corporation, Flowserve, Mueller Industries, Snap-On, The Timken Company China: Jiangsu Guotai German: Schaeffler Technologies Japan: Toyo Seikan Kaisha COMPETITIVE ENVIRONMENT
New screws Extruder and injection barrels Valves and end caps Screw rebuilding High wear solutions Special repair Standard and emergency service Screw design Screw re-cuts Industrial hard chrome PRODUCTS AND SERVICES
Price Sales depend on the design, engineering and manufacturing resources needed to complete the job to specification and in the given time frame, so pricing is quote based and fluctuates based on the job and with the market. Place The physical plant is in New Castle, PA, but the company ships products internationally Promotions B2B promotions; primarily direct sales, public relations and improved social presence. PRICE, PLACE, PROMOTION
PFI is a small family owned and operated company that has a commitment to a quality product at a competitive price and the experience to meet any need, from screw manufacture to repair. PFI offers services such as screw rebuilding, design and recuts, which makes them attractive to domestic manufacturing plants with a need for quick and local services. VALUE PROPOSITION
Our strategy and approach will be to market services heavily, especially screw repair. The quick turnaround on repairs is a unique selling point that will make us stand out in the market. Most sales are made over the phone, but direct selling online and in person should be incorporated into the sales model, as we are marketing the personable, family-owned image. We should also offer clients the opportunity to come into the plant for tours and to answer their questions or see progress on orders or repairs. We should use direct selling and a more proactive public relations campaign, including going to trade shows, consistent website updates and improved employee and client communications. There should also be a larger focus on social media presence for lead generation and branding. RECOMMENDATIONS
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