This chapter opens with an introduction to Body Glove International (www.bodyglove.com), a global company that manufactures a

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This chapter opens with an introduction to Body Glove International (www.bodyglove.com), a global company that manufactures a quality line of wetsuits for people who like water sports. Many of the consumers who are involved in water skiing, scuba diving, surfing, or jet skiing purchase Body Glove products because they represent both quality and value. The company was started in 1 953 by Bill and Randy Meistrell, two people who shared a passion for surfing and diving. The first suits were custom made for customers who responded to ads placed in local publications. As sales increased, the Meistrell brothers developed a small manufacturing facility and began distributing their products through retail stores on the West Coast. Soon Body Glove became a national company and later an international company. The success of Body Glove can be traced to several factors:
• A company philosophy that is based on the belief that you never sacrifice quality. A product that is comfortable and well made attracts the customer who is willing to spend a little more to get the best product. The company used to manufacture its own products, but now it outsources all manufacturing. These companies must maintain high quality standards established by Body Glove.
• A belief that brand management is very important. Today, Body Glove International is placing more emphasis on brand management. The company wants to influence the perception of Body Glove products in the minds of customers. Company officials recognize that in a world of sensory overload caused by too much information, brands are more important than ever. Customers think about what matters to them, analyze their choices, and usually select a brand that meets their needs.
• Innovations in sales and marketing strategies that enhance product distribution and sales. Body Glove International has developed more than 30 partnerships with distributors. These distributors (called "marketing intermediaries") employ salespeople who call on retail stores. At the current time, distributors employ about 250 salespeople. The company now has a stronger global sales organization with special emphasis on South America, New Zealand, and Australia.
• Investment in a first-class customer service center. The people at Body Glove believe that excellent customer service adds value to the product. The staff makes sure that all orders are carefully processed. With the aid of computers, they can check the status of any order. The staff can also process special orders quickly. The customer service employees work hard to build the strongest possible partnership with the customer.
What types of follow-through activities and follow-up calls should Body Glove sales representatives be prepared to initiate?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Accounting Texts and Cases

ISBN: 978-1259097126

13th edition

Authors: Robert Anthony, David Hawkins, Kenneth Merchant

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