A Monroe Lock and Security Systems Ray Monroe
- Slides: 4
A. Monroe Lock and Security Systems • Ray Monroe started AMLSS two years ago. • lock-smithing services to residential and commercial customers as well as automobile owners. • Limited offering by excluding alarm installations and after hours emergency service. • Financial results have been relatively poor. – losses of $6. 500 in the first year. – profit of only about $3, 500 in year 2.
How would you describe Ray Monroe’s overall attitude toward his business? Ray Monroe seems to have a “laissez faire” attitude. • Does not seem to be driven by financial success of the business (probably because of his inheritance ? ). • Also evidenced by his refusal to offer alarm system installations and his unwillingness to answer calls after 5 p. m • No follow‑up with customers to ensure satisfaction
How would you describe the industry and the competitive environment? The industry is fragmented • Many small firms handling residential business and a few larger firms selling to commercial accounts. • Competition is intense • Low barriers to entry • Small firms are family businesses that have established relationships in the community • Image and reputation, service and the willingness to go the extra mile are critical for success of small businesses in this industry.
Develop a marketing strategy for AMLSS. Include some projections for sales revenues for the next twelve months. • STEP 1: Establish quantifiable and measurable goals and objectives.
