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November 2005 | Vol. IV - No. 11




Tools:

A Slice of Manufacturing Life: Geospace International


Geospace has experienced the most marketing success via print and electronic publicity and by strategically placing contact information on product packaging.
Any prosperous manufacturer can tell you, despite what some may say, products don’t sell themselves. Even the most extraordinary of toys needs a little push to move off store shelves and into the hands of end-users. Clever marketing, carefully planned ads and well-positioned products within a store help to guarantee that a product will thrive.

Recently, Geospace International (ToyShow) president Dennis Binkley shared with TDmonthly Magazine a few of his company’s sales techniques, to which he owes much of Geospace’s success.

Binkley sees working with retailers as a key element in ensuring that his company will meet with the highest of profit margins. “We offer our leading best selling products packed in point of purchase displays whenever possible (depending upon the product),” Binkley explained.

From there, Geospace offers periodical or seasonal discounts based on items in point-of-purchase displays. These large-volume orders are shipped in single batches, for which Geospace offers extended payment dating. To Binkley’s way of thinking, this helps motivate the retailer “to promote, display and sell-through our products during one season per period in order to have funds to purchase during future promotional periods.”

According to Binkley, Geospace has experienced the most marketing success via print and electronic publicity and by strategically placing contact information on product packaging. This information includes details on additional products and directs customers and retailers to the Geospace website, where they can see new product offerings and place reorders.

One problem for which Geospace is still seeking a remedy is the high cost of international shipping. This, along with the inconvenience of such orders, is something Geospace will strive to work around as it continues to expand globally.

For more information on Geospace, please see last month’s article, “Geospace Jumps Onto the Map With AIR KICKS.”




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