Week 9 Sales Promotion & Personal Selling

Our unique marketing strategies allows us to achieve a standard of Promotion and Personal selling not many people are familiar with. Our consumer sales promotion is quite extensive and meaningful. We advise our customers to the get best quality parts on the market and we approach the issue by listing the benefits of purchasing a certain item. We also remind our customer that not only do you save money in the long run by buying the quality part but you save yourself the headache of having a issue with the cheaper product down the line. Throughout the United States of America we receive dealer inquires and bulk orders on a daily basis from retailers and promote our selling capabilities to wholesalers to receive products at a fair discounted price. Every so often our systems are rigged to print a coupon stub after a purchase, usually being 15 - 20% off their next purchase. Our loyalty marketing program consist of customers who since day 1 have been purchasing parts faithfully from us. In return we give offer them 20 -25% off any purchase of 3 items or more and guarantee them a spot next to over booth at track and meeting events. The store is in it self a Point-of-purchase display for the simple fact that we promote and advertise all of our major distributors such as Skunk2, Password Jdm, K Sport Usa, Act Clutch, Eat Sleep Race, Function 7, Blox Etc. We have achieved trade allowance with many different companies with good credit and salesmanship. Relationship selling since the day we opened has always been first nature to us. Treating people with respect has always been our steed so it has never been a difficult task to build relationships with all of our customers. We have had 95% of our customers stay loyal and persistent with buying parts til this day. When new customers walk come through our doors and ask about certain product we give them the cold calling which is when you pretty much offer merchandise ranging from the highest possible price to the most reasonable with with stereotyping what their income cap is, No one likes to be underestimated which is why we give consumers different alternatives. Every so often our Sales Manager will put together a sales presentation for customers in need of an engine haul based on prior customers needs assessment we are able to put together a list  products and show our customer why we think they'll need the parts we've recommended. Follow up is usually the best part of the job where we basically make sure everything went through the way we had promised the consumer and the outcome usually shows in the customer returning and through feedback from 1 consumer to another and over the internet.    

Week 8 Advertising and Public Relations

V Race Works started in 2008 as a small store in 4 Henshaw, Upper Manhattan. When the store opened we started out selling lips, rims, hids, and minor suspension parts. Advertising started almost immediately, Attending track events and bringing with us exclusive quality parts gave us the exposure needed to blow up in the automotive scene. As we started to grow we started to sponsor Race cars in an effort to further exploit our existence.  The next step was attacking the web which altogether increased sales by 60%. The hard work paid off and now we spend over 10,000 dollars in advertising alone yearly. We currently advertise on the web, video games, Race cars, track events, and meets and it only works to our benefit and the survival of the sport.  

Week 7 Retailing

Retailing as we know it is a direct infraction of two key components, Sale of goods and services. As an Independent retailer we provide goods of extensive quality and brand names our consumers love, We also provide services such as Automotive Collision repair, Automotive Performance Overhaul, and Automotive Ecu Management and Tuning. The Gross margin we set on our products are comfortable and subtle. We understand the moment in time we are currently operating  in. We accommodate our consumers with exclusive pricing and  customer service. Our specialty has always been in the Automotive field complementing vehicles with great potential. We've set up an online retailing website (www.Vraceworks.com) which gives our consumers the felicity of seeing items before being purchased online from home. The Retailing mix we abide by is quite simple, Product, Place, Promotion, Price, Presentation, and Personnel which if I may add has had a substantial influence on our business as a whole. Our product offering is superb in nature we offering products people need and want which is why we are on top of our Game.

Week 6 Consumer Decision Making

When a consumer wants to purchase something 9 times out of 10 they're looking for a product or service with superb quality. Customers always want the best of the best and we're able to offer every single product line on the market with quality and life. The Consumer decision making process is composed of 5 mine elements: Need recognition, Information search, evaluation of alternative. Purchase, and post purchase behavior.  We carry products that when the time comes to replace the original part on the vehicle people need and are cost effective. We also have products that people want, high quality racing inspired parts that of which can be accompanied with a pretty large price tag. The stimulus affect that rushes through your 5 senses as soon as you step inside V Race Works is that of which you might share with a child and Toy R Us. Our internal information search usually consists of obtained information of  purchases in the past and present which lets us know what the public desires. The external information search process we conduct is usually inspired from the surround Automotive environment. Most consumers that visit V Race Works 7 out of 10 times had a very bad experience with 1 or more of our competitors and usually have a story of their hardship to share and the consumer has a cognitive dissonance burden to carry. Our involvement in consumer satisfaction pushes us the strive for more information based on consumer behavior. Most customers go through a limited decision making period on most of our products and others exercise an extensive decision making campaign in which the customer researches and derives information due to unfamiliarity (for example rims for a car you must know the size and offset the car can handle before a purchase). Since the mid 2000s V Race Works has lived in the Automotive culture which is why there isn't a part needed today that we wouldn't be able to get a hold of. Being part of a subculture, We obtain parts of desired exclusivity and uniqueness. Everyone has a different perception and for all those diverse perception we have a coherent picture.

Week 5 Developing a Global Vision

In order to attack global markets you must have products that scream look at me. Our Global vision in tales cars which throughout time has always been a center of attraction for human beings as a whole so it wasn't difficult to market overseas. We market superiority which is why we never get taken out by competitors. We cater to all ethnicities and races which is why we're in the Global runnings. Cars as a whole has always been a culture most people are a part of whether it be the Toyota family, the Honda family, or the Mercedes family we sell products that favor most model and makes. 40% of our business has been from companies and consumers overseas.Our Promotional strategies are neutral in nature and cover a wide base of consumers which is why we really don't have to adapt to a specific group of consumers.The fact that we are located in New York also gives us a huge amount of virtual tourism that counts for about 1 third of our business.