Knowledge Transfer Partnerships (KTP) Case Study: Eurofilms Extrusion Ltd
Knowledge Transfer Partnerships (KTP)
Case Study: Eurofilms Extrusion Ltd
Formed 15 years ago and based in Telford, Shropshire, the company manufactures pallet wrap stretch film, operating 24/7 and producing about 15,000 tonnes of film per year. Holding about 10% of the UK’s pallet stretch wrap market, Eurofilms has a diverse customer base ranging from blue chip organisations to small companies.
Operating in a turbulent, highly competitive and price sensitive marketplace, Eurofilms sought to increase its market share by increasing sales within the higher value sectors, in particular by increasing sales of its new Eurolite product. The company had no marketing department but recognised that it needed a strategic marketing plan to establish operations that would provide a better understanding of the market and customers’ needs and enable swift, effective responses to rapidly changing market conditions.
Developing better relationships with existing customers, recruiting new, profitable ones and identifying opportunities through the establishment of a new customer relationship management system was a key requirement. The company also wanted to make its website more attractive, informative and interactive.
David Williams, a BSc (Hons) graduate in Marketing, joined Eurofilms as KTP Associate in the company';s partnership with the University of Wolverhampton.
With the support of his University mentors, David developed and implemented a strategic marketing plan that focused on the new business goals to meet the growth ambitions of the company.
Using detailed market research activities, including a customer satisfaction survey, David gained an in depth understanding of Eurofilms' customers, competitors and the company's own internal resources.
He developed a brand identity for the company, communicated this to stakeholders and customers, and produced promotional material, for use on and offline, to support the sales team.
A detailed investigation of Eurofilms' IT systems led to the creation of a tailored customer relationship management (CRM) system. David coupled the CRM system to a new lead generation strategy for the business to increase its prospect stream.
David has also driven a number of other strategic projects at the company, including research into the flexible packaging market, an export sales plan and the potential for an e-commerce site. At the end of the KTP programme, David joined Eurofilms as Marketing Manager and part of the senior management team.
KTP Case Study: Eurofilms Extrusion Ltd
Eurofilms has developed a proactive marketing strategy with a focus on new business. The customer satisfaction survey provided a vital knowledge base for the development of its marketing activities and the marketing ethos has become part of the culture of the organisation.
The CRM system installation and new lead generation strategy resulted in over 5,000 additional leads and over £90,000 of orders during the first nine months of 2009. Special appointment "surge" days, developed as part of the process, created over 120 new appointments and 85 new customers were gained during the same period.
As a direct result of the KTP support, Eurofilms has now established a marketing department with a marketing manager and telemarketing executive in place. The new CRM system, a major investment for the company, allows a seamless "prospect to customer" flow and, together with additional lead generation, branding and development of the company's sales process, has significantly strengthened the company's market position.
The formalised strategic marketing plan has allowed the company to identify areas in which it will seek business growth over the next three to five years - e-commerce, product development and acquisition. Two new products have been successfully launched during the programme.
The Benefits for the company:
"Our KTP programme has enabled us to make significant improvements to our key critical success factors. The company's competitive position in the marketplace has been strengthened by our focus on new business, supported by the work on branding. Our new brand image is based on environmental benefits, product differentiation and service excellence and I believe this has allowed us to improve our margins. Our new strategic marketing plan has identified the areas where we need to seek business growth over the next few years."
Eurofilms Extrusion Ltd
For the associate:
"The experience I’ve gained through the KTP project has developed my marketing and project management skills and on completion of the programme I can show a professional marketer's cv. I have also successfully completed my Professional Postgraduate Diploma in Marketing and NVQ level 4 in Management and am delighted that I am able to continue to work for Eurofilms as its Marketing Manager and part of the management team."
For the academic partner:
"Engaging with a company that is successfully growing its business profitably in turbulent economic times has helped inform teaching staff looking to equip students with the necessary employability skills to compete in today's job market.
The project has also informed our research and generated a conference paper, which will be presented at the 2010 INTED Conference on Entrepreneurial Development in Spain.
Dr Rob Harris
University of Wolverhampton Business School