Parts Market Capture

Parts Market Capture

The parts and service businesses within the construction equipment Industries has never had a precise method to calculate the share of the parts market for a specific brand. To some degree this has allowed the parts business to operate without a critical performance measure being in place.

This program married the market potential, that we cover in another class, with the actual sales for a dealership for a specific brand. The market potential model allows a dealer to calculate the potential consumption of parts on specific machines. That, together with the actual parts sales, allows a calculation to be done arithmetically that determines the percentage of a customer business obtained by a dealer.

This class provides a detailed methodology to calculate the share of the market the dealer obtains. This is the market capture rate that the dealer obtains in the parts business. Ideally, we would be able to perform this calculation by machine model. Unfortunately, we do not get the model and serial number for each parts sale.

Similarly, we touch on the “mean time to failure (MTF)” statistics provided by the OEM’s for their products. With territory potential, market capture we can drive market coverage methods which with the MTF the sales force can be targeting customer needs in a timely manner. This program covers all the details and methods required to perform the calculations required to measure market capture.

For an audio description of this class…….

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TESTIMONIALS

Badges, Socrates, and Education Today

The following comes from a book called The End of College by Kevin Carey which is background information for the internet-based learning environment.

One of the struggles in the changing world of education is the recognition of alternative methods of learning. In each of the traditional Universities and Colleges and Junior Colleges there is a degree. In the vocational or technical school setting there is a “journeyman” standard applied. With the internet-based learning programs none of these are available.

In the book Carey talks about the digital world and how the evidence of learning throughout an individuals’ life will be maintained. “People will control their personal educational identities instead of leaving that crucial information in the hands of organizations acting from selfish interests. To earn a “degree” you had to accumulate credit hours. As Carey says “The creators of the credit hour didn’t mean for it to measure how much students learned. The colleges used it that way anyway.”

Robert Hutchins, of the University of Chicago wrote, “the intellectual progress of the young is determined by the time they have been in attendance, the number of hours that have sat in classes, and the proportion of what they have been told that they can repeat on examinations given by the teachers who told it to them.” Hutchins also predicted that rapid rise in the cost of college and university. He said that the schools would start competing to attract students and would build all manner of facilities that had little to do with learning. He was very outspoken about how the schools operated. He said “You pay no attention to what you teach, indeed to what you investigate. You get great men for your faculty. Their mere presence on the campus inspires, stimulates and exalts. It matters not how inarticulate their teaching or how recondite their researches, they are, as the saying goes, an education in themselves.”

Stephen Joel Trachtenberg, who for a time was the President of George Washington University. He understood something crucial about the University. He understood that “people will pay extra money for the feeling associated with the name brand.”

I want to leave off here today, because there is a lot to digest. There's a great deal more to come over these next weeks, as we take a close look at education and learning.

The time is NOW.

September 21, 2018

FRIDAY FILOSOPHY v.10.29.2021

Many of you will have noticed we have been writing Blogs and recording Podcasts that are trying to provoke businesses to embrace continuous improvement and make changes. Most recently as a result of a Podcast with Mets Kramer. We were talking about how Amazon and Google conduct their businesses. How within Amazon they were constantly reviewing customer needs and wants and making adjustments. They were working on their businesses not just in their business. Mets and I talked about the fact that within our Industry we were problem solvers. That isn’t a bad thing. We were working hard in the business trying to satisfy customer needs and wants. We didn’t find many dealerships that were working on their business. Trying to change their systems and processes. That simply won’t be sufficient. Time is running out on continuing to do what you have always done.

The only way to make sense out of change is to plunge into it, move with it, and join the dance. Alan Watts

They always say time changes things, but you actually have to change them yourself. Andy Warhol

Life is about not knowing, having to change, taking the moment and making the best of it, without knowing what's going to happen next. Gilda Radner

You must be the change you wish to see in the world. Mahatma Gandhi

If you don't like something, change it. If you can't change it, change your attitude. Maya Angelou

He who rejects change is the architect of decay. The only human institution which rejects progress is the cemetery. Harold Wilson

There is nothing permanent except change. Heraclitus

The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow. Rupert Murdoch

I have noticed even people who claim everything is predestined, and that we can do nothing to change it, look before they cross the road. Stephen Hawking

The thing that lies at the foundation of positive change, the way I see it, is service to a fellow human being. Lech Walesa

Change is the law of life. And those who look only to the past or present are certain to miss the future. John F. Kennedy

Progress is a nice word. But change is its motivator. And change has its enemies. Robert Kennedy

You must take personal responsibility. You cannot change the circumstances, the seasons, or the wind, but you can change yourself. That is something you have charge of. Jim Rohn

Life belongs to the living, and he who lives must be prepared for changes. Johann Wolfgang von Goethe

It may be hard for an egg to turn into a bird: it would be a jolly sight harder for it to learn to fly while remaining an egg. We are like eggs at present. And you cannot go on indefinitely being just an ordinary, decent egg. We must be hatched or go bad. S. Lewis

Change the changeable, accept the unchangeable, and remove yourself from the unacceptable. Denis Waitley

There are two kinds of fools: those who can't change their opinions and those who won't. Josh Billings

In times of rapid change, experience could be your worst enemy. Paul Getty

It is change, continuing change, inevitable change, that is the dominant factor in society today. No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be. Isaac Asimov

I'm a catalyst for change. You can't be an outsider and be successful over 30 years without leaving a certain amount of scar tissue around the place. Rupert Murdoch

The Time is Now

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October 29, 2021

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