BOOK REVIEW
Lubricant Marketing, Selling and Key Account Management
A book by R. David Whitby
This is the second book by David Whitby that I have had the opportunity to review, the first being “Lubricant Analysis and Condition Monitoring” which I did recommend should have a place in the reference library of every lubricant company. This book is different from that, in as much as it should have a place in the top draw of the desk of any lubricants aspiring sales or marketing executive! I can go further and say that I wish it had been available to me in those early days of my career when I moved from the technology of lubricants over to sales and then followed by marketing and key account management.
It is certainly the case that for the lubricant marketer a significant proportion of customer needs can be ascertained from a good background of the equipment they are servicing and those technical needs and aligning the lubricant product-line accordingly. Here David’s book goes further in actively understanding the management of the product portfolio and management of product life cycles. It goes on to explain that this is only part of the story though, as meeting a prospective customer’s overall needs can be so much more. Marketing segmentation helps us find the right channels of access to those prospective customers. Those channels will help us define the correct method of communication, the level of service and support required for successful results.
Insights for methodology are discussed for marketing routes to be taken which will give some transparency to future trends and opportunities. Understanding the drivers in a complex market where so much product performance and development is dictated by OEMs (Original Equipment Manufacturers) requires a spread of approaches. These are demonstrated in some detail from a simple SWOT approach, analysing Strengths, Weaknesses, Opportunities and Threats, to the more extensive Desk Research, Qualitative Research and Quantitative Research
are given. The
conclusion drawn is that one size doesn’t fit all. Whether this research is best achieved internally or externally is identified and the possible pitfalls exposed.
The picture is
somewhat completed by emphasis on sales, selling and account management. Pricing
is a complex part of sales and is not just a matter of covering the ever-fluctuating raw material costs, as best demonstrated by crude oil cost over a relatively short period of time! Pitching the right price calls for a significant level of expertise and understanding. Customer category and relationships can be big influencers on pricing where large customers can negotiate discounts. Such relationships can emphasise the need to work ever more closely resulting in what is known as “key account” management. Here David’s book does delve deeply into the qualities of personnel needed to run with these valuable customers. The impression given is that they do actually work directly for the customer and not for the company!
I cannot possibly give full account of the mine of knowledge and experience that is contained in these pages and therefore I must recommend it should be added to your reading list.
Rod Pesch, Technical Director, UKLA
https://www.routledge.com/Lubricant- Marketing-Selling-and-Key-Account- Management/Whitby/p/book/9781032331461
LUBE MAGAZINE NO.172 DECEMBER 2022
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