Sales Management - Bausch & Lomb Presentation

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Sales Management - Bausch & Lomb Presentation

  1. 1. John Hardy, Alex Heide, Ross Gregerson & Laura Grbavcich
  2. 2. Company Background • Developed array of optics products & first flexible frames • 12,000 employees servicing over 100 countries • Founded in 1853—Bausch received a $60 loan from Lomb
  3. 3. Customer Base • Optometrists (OD’s)—non-MD’s—able to prescribe eye-health pharmaceuticals • Ophthalmologists (MD’s)—mostly surgeons o Purchase surgical equipment o Prescribe pharmaceuticals o Diagnose & refer patients
  4. 4. Business Portfolio Sold 5 major lens brands to OD’s Sold cleaning solutions to OTC’s in large retailers Sold prescription pharmaceuticals 2 Divisions: • Refractive • Cataract/Vitreoretinal
  5. 5. Business Portfolio
  6. 6. Market Overview
  7. 7. • Present one face & expand customer education • Convergence of previously isolated divisions • Management restructuring to identify cross- selling opportunities • Target larger accounts to leverage full product line Sales Force Phases Phase 1
  8. 8. • Consulting firm to reassesses market position • Cross-selling’s potential to increase wallet share • Minimize “windshield time” • Surgery group wanted independence back • Vision & Pharmaceutical TM’s became “Eye Health Reps” Sales Force Phases Phase 2
  9. 9. Problem 1 – Underinvested in R&D Competition is gaining wallet share while B&L becomes stagnant in innovation
  10. 10. Recommendation 1 – Invest in R&D • More retained earnings, less dividends • Communicate vision & goal to shareholders • Goal: #1 or #2 in every product category • Focus on weakest lines without neglecting others • Potentially re-appropriate funds from other departments
  11. 11. Problem 2 – Brand is Weak B&L is not competing on price, so they must push the quality aspects of their brand
  12. 12. Recommendation 2 – Strengthen Brand • Generate “one stop shop” awareness with ad campaign • Cross-promote all products • Focus on consumers, not just customers • Consider advertising to ethnic populations
  13. 13. Problem 3 – Organic Growth B&L needs to build its B2B customer base in order to grow sales & profits
  14. 14. Recommendation 3 – Build Incentivized Referral Network • Reach out to current loyal customer base • Referrals for appointments, not sales • One-time incentive per 3 appointments generated ($50 or $100 gift cards) • Doesn’t require extensive time commitment
  15. 15. Summary of Recommendations • Greater investment in R&D • New brand-building marketing initiatives • Referral network to grow customer base
  16. 16. Questions?

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