Each student will be involved in a substantial project that requires the student to solve a business/organizational problem. This semester, MG 491 students will be developing a sales presentation for Fastenal Inc. (https://www.fastenal.com/)

Unless you have worked in business-to-business sales, creating a sales presentation is probably not what you think. It's less about persuading someone to buy something. It's mostly about understanding Fastenal's value proposition and connecting that value proposition to the needs of a specific buyer. In that respect, it's closer to assembling a puzzle - understand the specific benefits that Fastenal delivers that are better than its competitors, then connect those benefits to the needs of a specific buyer. Fastenal Regional Adam Hans has graciously agreed to work with us this semester. He will be providing you with some background information on Fastenal and the client. Your task is to sort through it, identify the parts of Fastenal's value proposition that are most relevant to the customer, look at the benefits that Fastenal can deliver that are better than competitors, then persuasively connect the two.

I am taking a 491 Management Capstone and have no clue as to what value proposition and value chain analytics I should use for my final project presentation. It's over the case study below. If you have any suggestions or positions on how you would structure a presentation around this case study information let me know!

Your Position :

You are a new sales representative for Fastenal Company, a leading national supplier of industrial and construction supplies. You are based out of the Baxter, MN store. You recently finished your Sales Trainee training program consisting of on-line and instructor-led courses spread throughout your first 3 months of employment. You feel like you are getting comfortable with your new job, the branch computer systems, customer service, and basic product knowledge in the industrial marketplace. You've realized that you don't need to be an expert in every product, but you must be very good with sourcing products and customer service. You have started doing some sales prospecting in your local market, making some cold calls, and have also started servicing a small number of existing accounts. Most of your accounts purchase various MRO supplies (maintenance, repair, and operations) such as fasteners, abrasives, and safety supplies. Your largest account, which is a local custom manufacturer of steel cabinets and shelves, also has a material management system established for their production fasteners so that product usage is managed by maintaining a minimum quantity and not exceeding a maximum quantity (a min/max system). You service this account 2 times per week to ensure their fasteners maintain the correct inventory levels and their production experiences no interruptions due to the parts you supply.

The Situation :

SkiMaster Boating is one of the largest employers and manufacturers in the Baxter area. A few weeks ago you stopped by SkiMaster Boating while you were in the Baxter industrial park to see if you could speak with someone in the purchasing or materials management department. Unfortunately, you didn't get past the gatekeeper on that sales call, but while in the reception area you overhead some discussions that appeared to be related to an issue with some fasteners or fastener supply on one of their deck boat models. You have a basic understanding of fasteners and have also done some additional research on stainless steel products because you are aware of stainless steel being the material of choice in the boating industry (and any aquatic environment). Last week you stopped by the front office and spoke to the receptionist again, indicating that you understood from your last visit there may be some issues with their supply of fasteners and you thought you could help. You asked to speak to a purchaser or production person and after some delay she agreed to call the purchaser to see if she'd meet with you. The purchaser was too busy that day, but agreed to meet with you the following Tuesday morning. You are walking into your Tuesday morning meeting with Mary Murphy, a Purchasing Agent for SkiMaster...

Client: Adam Hans, Regional Sales Manager, Fastenal, Inc.

Learn about Fastenal: Fastenal is a large international company that is unnoticed by manypeople. With sales of $5 billion and 21,000 employees in 26 companies, Fastenal is a worldwide supplier. At the risk of oversimplifying what they do, Fastenal is a supplier to the manufacturing and construction industry, supplying a wide variety of commonly used components. Make a sales presentation to promote the company as a one-stop solution for Ski-Master Boats. Go to this page https://www.fastenal.com/en/1/services-and-resources and you'll see the services that Fastenal can offer.

Of course, not all of these services are necessarily relevant to Ski Master. You'll want to review the available information on the boat manufacturer, build the value proposition for Fastenal, and determine what to emphasize when try to obtain Ski-Master's business.

Objective: This goal is to 1) identify specific steps Fastenal should take in order to meet the needs of its prospective customer SkiMaster Boats, and 2) develop a plan through which Fastenal can communicate its value proposition and differentiate itself from other vendors competing for the SkiMaster Boats account. These two objectives will be addressed through the creation of a Fastenal sales presentation targeting SkiMaster Boats.

Description: A comprehensive understanding of Fastenal's product and service offerings as well as the specific needs of SkiMaster Boats will be fundamental to the project. Further, for comparative purposes, offerings of competing vendors (Grainger, E-bolt) must also be understood. Once this information is gathered, significant selling points will be developed in support of Fastenal's value proposition to SkiMaster. The ultimate goal of the value proposition is to obtain the SkiMaster's current business and secure it going forward.

The platform upon which Fastenal's value proposition will be built is expected to be the company's ability to provide original equipment (OEM) fasteners, as well as gloves, protective eyewear, and other safety equipment in a custom vending machine specific to the prospect's production needs. Of particular value is the fact that Fastenal monitors these machines and restocks when necessary, thereby eliminating the need for the prospect to manage them. Further, withdrawal of supply items from the machines is accomplished via employee ID cards, allowing the prospect to track usage and expense. Other services unique to the customer will be included in the proposition.