BSA 304-1: Principles of Marketing: Essay #5
15 November 18, 2013
The most valued productivity solutions in the world. That is the mission statement from Snap-On tools and it says a lot about who they are and what they are trying to accomplish now, and in the future. Snap-On tools is a $2.9 billion, S&P Company.
Snap-On tools was started in 1920 by two men named Joseph Johnson and William Seidemann. The first plant was opened in Johnson City Tennessee. The multi-billion dollar business started out as a company that produced and marketed a ten piece socket set that interchanged with five different handles. The interchangeable pieces is where the name, Snap-On, derived from. This was a new concept to the hand tool industry, but what made it so unique was the fact that they decided to bring the product right to the customer, and demonstrate the benefits of the tools. Still in the infancy stage, they decided to hire Stanton Palmer to handle the sales aspect of the business and as the business grew, Mr. Palmer decided to hire Newton Tarble, to share with the sales. This delivery and demonstration style sales method is one of the reasons that made the organization so effective. Snap-On tools integrated a unique marketing plan in the 1930’s; they offered credit to their customers. They were the first to initiate a credit type payment program into their marketing strategy and it is said to be one of the major concepts that led to the success of the company. The company immediately moved into the growth stage as they entered the international stage in 1931. The future S&P Company moved into the maturity stage of the product life cycle within 30 years of introduction into the hand held tool industry, where it is still holding strong today. Snap-On tools can be found in over 130 countries today.
Snap-On has always set themselves apart from other hand held tool companies largely in part because customer service was their number one concern. It is a...
Cited: www.1.snapon.com. 2013. 17 November 2013.
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