Vector Marketing is the main subsidiary company that sells top-notch cutlery from CUTCO in various locations in the US and Canada. It implements person to person selling technique that requires the Vector representatives in Canada to market the products from a place to another. This business strategy steps away from the conventional fixed shop location and enables the sales representatives to cover more ground by traversing through many areas to get people who will buy the products.
Being a single level company, Vector Marketing pays its sales representative a commission for the sales that have been made. In the case of exemplary performance, the sales reps are awarded bonuses. Vector Marketing is currently the biggest employer of university and college students in Canada. It is also a member of the direct selling association in Canada. This agency is the national trade association for a large number of companies that manufacture and distribute direct selling products and services. As a member of the DSA in Canada, Vector Marketing is bound by a strict code of ethical guidelines that inspire honorable practices between the seller and the buyer.
Vector Marketing Business Model In Canada
Vector marketing has built a rapport with various learning institutions across Canada to familiarize the students with the job opportunities that are available for the company. They achieve this through scheduled career talks, student work programs, posting advertisements on notice boards, internet marketing and even through newspaper ads. The company decided to target the student population to market and distribute the range of CUTCO cutlery due to the fact that they have adjustable schedules. The company anticipates that having a sales experience can strengthen the foundation for every kind of career out there.
Vector Marketing employs Canadian students on an independent contract. The position is usually open to even inexperienced students who can work on a full time or part time contract. Once a sales representative is contracted, they go through a three-day intensive training program. The training basically takes the potential recruit through viable business strategies, how to close a sale and using feasible demonstration techniques. These sessions are conducted online or through the physical office. After the training period, the Vector Sales representative is given the merchandise- which mainly consists of CUTCO state of the art knives- to make their first sale. In the course of the training, the students are encouraged to approach friends and family for their first sale after which, they should ask for referrals.
The Vector marketing business modus operandi is to create a conducive working environment which will ultimately give the sales reps an impetus to provide the customers with exceptional customer service and support. The Vector reps are given attractive incentives for every sale that they make. The payments are made every week which inspires the sales representatives to set realistic goals. In the event that an appointment was secured, but a sale was not made, the company still pays a commission of up to $21 Canadian dollars for the successful appointment. They are also given bonuses and prizes for the quick sale achievements.
Role in The Canadian Community
The student work programs that are implemented by Vector Marketing in Canadian learning institutions aim to equip the students with valuable information that will help them when it gets to selecting careers. They do this through career service professionals and other qualified industry experts.
Vector Marketing in Canada aims to reward the excelling student sales representatives. Every year, the company gives scholarships worth over $23,800 to the highest student Vector sales representatives who perform exceptionally during the sales campaigns held occasionally.