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What makes Precision unique is it acts as a principle or intermediary with smaller carefully selected manufactures. Precision specializes in certain products and/or focus on the E.U., Canada, Brazil, China, and India, while other EMC are generalists. Precision also, acts has an EMC for foreign principles in China, Brazil, and India. Precision may be involved in other export related activities such as procurement on behalf of foreign clients. Most of the Precision’s clients are independent businesses.
Mission Statement: Achieve Long-Term Growth and
Profitability, Being Honest, Fair and Humble
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Precision has established sales networks abroad. It has established foreign sales and warehousing subsidiaries.
Precision appoints export agents, or representatives, and networks of exclusive distributors and dealers in each foreign market.
Precision has experience in all facets of exporting: foreign travel, export marketing, etc.
Here are the typical strengths:
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An ability to handle all details . Precision has the know-how to answer inquires, prepare quotations, enter orders, handle shipping details, and get paid.
They are export professionals.
The lifeblood of Precision is active contact with foreign firms.
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An ability to establish a strong foreign distribution system . They have the know-how to select agents and distributors, and to manage their distribution network.
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Precision is an expert on business conditions abroad . Precision executives travel for first-hand experience.
At the home office in the World Trade Center Saint Louis, they constantly appraise market conditions and sales opportunities.
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Their profits are based on how successfully they export.
Thus, they're motivated to do a good job.
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Precision charges to their principals vary depending upon the product, the degree of promotion required, and the Precisions method of operation.
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Precision operating on a commission basis, will want a commission that equals - or even exceeds - your best domestic commission. This might range from 10% for consumer goods to 15% or more for industrial products.
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Precision functioning on a buy-sell basis, will ask for your best discount plus an extra discount. If Precision accepts the manufacturer's best price, it will mark up the product more than the distributor in order to make a profit.
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In addition to commissions or discounts, Precision may charge for other items. Precision will ask for "special event" contribution such costs to exhibit in a foreign trade show. Precision may require a contribution for advertising and other promotional activities.
Precision asks for a monthly retainer, especially in the early stages of establishing export sales.
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