Looking for Help with an Assignment? Connect with an Expert Now!

 Cutco Corporation—Sharpening Your Market Entry

 Cutco Corporation—Sharpening Your Market Entry.

 This post should be a minimum of 300 words and two references.

Cutco Corporation—Sharpening Your Market Entry

This activity is important because, as a manager, you must be able to understand the decision of which foreign markets to enter, when to enter them, and on what scale. In addition, managers need to recognize the advantages and drawbacks of each market entry mode.

The goal of this exercise is to demonstrate your understanding of market entry decisions: which markets to enter, the timing of entry, and the scale of entry.

Read the case below and answer the questions that follow.

The name Cutco comes from “Cooking UTensils COmpany,” a name once owned by Alcoa. Alcoa is a U.S. company now concentrating on work with lightweight metals and advanced manufacturing techniques. Together with W. R. Case & Sons Cutlery Company, Alcoa created the joint venture Alcas Corporation in 1949, which subsequently became Cutco Corporation in 2009.

Cutco Corporation includes the wholly owned subsidiaries Vector Marketing Corporation, which it acquired in 1985, and Cutco Cutlery Corporation. Vector Marketing is the U.S.-based sales arm of Cutco Corporation, which is headquartered in Olean, New York. More than 700 manufacturing and administrative employees work at the Olean location.

Cutco is now the largest manufacturer of high-quality kitchen cutlery in the United States and Canada. The product line includes kitchen knives and utensils, shears, flatware, cookware, and sporting knives. Look around your house and your friends’ houses, and you are likely to see one of their well-known blocks of knives in the kitchen! The price for one of the blocks with a dozen or so knives ranges from about $100 to upwards of a couple of thousand dollars. Some 16 million people have bought Cutco knives.

Originally, Cutco was created as a product for Wear-Ever Aluminum (a company focused on cookware), which at the time was a division of Alcoa. Cutco evolved from there, eventually adding its signature Wedge-Lock handle and Double-D recessed edge on some of its knives. Two things that have never changed are Cutco’s commitment to fine craftsmanship and the Forever Guarantee. The guarantee means what it implies—that Cutco stands behind its knives’ performance and sharpness forever. They also have a forever guarantee of replacing their knives for any misuse or abuse at half the cost.

Cutco, as it operates today, was formed in 1982 following a management buyout that took the company private. As with any employee or manager buyout, it was a leap of faith for the team that bought the company. But based on the company’s story, it was also the moment that secured Cutco’s future for generations to come. In this process, in 1985, Vector Marketing Corporation became the exclusive marketer of Cutco products directly to consumers via sales representatives located throughout the United States and Canada. Cutco International Inc. is responsible for international marketing.

Annual sales for Cutco now stand at about $200 million worldwide, but mainly in the United States and Canada. The product line includes more than 100 choices under the Cutco name alone. The extended line includes kitchen utensils, gadgets and flatware, sporting and pocket knives, and garden tools. For the Cutco line, the products are marketed via what is called “direct selling” (marketing of products directly to the consumer away from a fixed retail location). Internationally, outside North America, Cutco has independent office arrangements in Australia, Costa Rica, Germany, South Korea, and the United Kingdom. Puerto Rico also has independently run sales locations.

In the United States and Canada, Vector Marketing Corporation typically employs college students in the 18-to-24 age range part-time during the school year and full-time during the summers to be part of their direct sales force. The sales pitch to students is good pay, flexible schedules, personal growth, no experience needed, great training, and engagement with quality products. In fact, 85 percent of the sales force at Cutco is college-aged individuals.

This sales force is a drastic change from the early days of the company. Early on, Cutco had hundreds of small independent sellers of the company’s knives and other products. Vector Marketing became one of these sellers in 1981 and stayed in this role until 1984. In 1985, Cutco bought out Vector Marketing, and Vector became the sole channel for sales across the United States. As a core member of the Direct Selling Association, Vector Marketing Corporation drives Cutco sales using college-aged students whom they pay $12 to $20 per hour in a direct-to-customer business model. But internationally, Cutco products are still sold via a myriad of independent sellers in Australia, Costa Rica, Germany, South Korea, and the United Kingdom.

Sources: Cutco website, www.cutco.com; Vector Marketing Corporation, http://vectormarketing.com; “Company Overview of Cutco Corporation,” Bloomberg Business, March 24, 2016; J. Berghoff, Cutting Edge Sales: Confessions of Success, Influence & Self-Fulfillment from the World’s Finest Knife Dealers (New York: Morgan James Publishing, 2009); and “Bringing Help to Haiti: Vector Marketing Sales Record Holder Michael Arrieta,” PRweb, September 15, 2015.

The Cutco brand is affiliated with Cutco Corporation, Vector Marketing Corporation, and Cutco Cutlery Corporation. It seems overly cumbersome for customers to understand that Vector Marketing Corporation is selling Cutco knifes! Meanwhile, Cutco is now the largest manufacturer of high-quality kitchen cutlery in the United States and Canada. How would you structure Cutco’s branding if you entered a new international market?

 Cutco Corporation—Sharpening Your Market Entry

Quick Quote

Approximately 250 words
Total price (USD) $: 10.99

Benefits of Accessing Our Paper Writing Service

Take a look at the characteristics of our custom essay writing service. We ensure that not only will your essay be delivered on schedule, but that it will also be of the finest possible quality.

Guaranteed Customer Satisfaction

We are always available to help with any revisions and deliver flawless results

Quick Results

Any deadline can be met. 400+ dedicated writers are waiting to finish your essay in as little as three hours.

Support is available

We’re here for you at all times and can answer in as little as one minute.

All papers reviewed

We examine our own database of completed orders to ensure that you always get original work.

Student Feedback on Our Paper Writers

Your feedback is our primary tool for development. We help you get A’s, and you help us improve as an essay paper writing service. Check out what your peers are saying about us.

How Our Essay Service Works

Image showing step 1 of making an order

1. Complete Order Form

  • Choose the type of assignment, topic, subject, length, and deadline for your paper.
  • Indicate the following order parameters: service, chosen writer level, number of cited sources, and citation style.
  • Add your document or provide instructions for paper in a specific form.
Image showing how to make payment for your order

2. Select Writer

  • Log in using your email address or your Facebook account.
  • A list of suitable writers will be offered to you. Before making a selection, you can read testimonials or engage in a Live Chat with authors.
  • Check your balance and, if necessary, add funds to your account. Here you will also find exclusive bargains.
  • Put money into the account of the chosen writer.
Image showing how to download your completed results

3. Receive your Paper

  • You will receive the paper. You have the option of requesting modifications if they are required. Before giving it back to the writer, make a list of the adjustments that need to be made.
  • Accept the paper and send the money to the author.
  • Rate your writer, submit your request, then sit back and enjoy the results.

Frequently Asked Questions

Is your service free of plagiarism?

Absolutely! Every paper is written from scratch by EssayHelpMarket writers and double-checked for plagiarism using our plagiarism detection software. We will never provide you pre-written essays or papers that include copied text.

Is it possible to compose essays for free?

Our writers are independent contractors who charge for their services because writing essays is what they do for a living. There’s always the option to save money by choosing a longer deadline, buying fewer pages, or asking editing rather than writing.

Is it possible to get an expert on any essay topic?

Yes, of course! We worked very hard to discover the top essay writers who were knowledgeable in any field, including the most difficult ones such as physics, engineering, and information technology.

Is it safe to buy essays online?

You don’t have to be concerned about security because all payments are encrypted. We’ve been validated by MasterCard, Visa, American Express, and Discovery. Your personal information is not accessible to the EssayHelpMarket essay service. A money-back guarantee is also included.

Is it legal to use your writing service?

Our service is lawful, and hundreds of students use it every day. You may read testimonials about our custom essay writing service on the internet.

How quickly can your service finish an essay?

A brief essay takes at least 3 hours to complete. Please contact us ahead of time if you require assistance with a more intricate or lengthy document. Your writing assistant will have more time to analyze and generate a high-quality essay.