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Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (June 2007) | Vector Marketing is the domestic sales arm of Alcas Corporation, the Olean, New York-based company that manufactures Cutco products. Image File history File links Question_book-3. ...
Image File history File links Vector_Marketing_logo. ...
Olean is a city in Cattaraugus County, New York, United States. ...
For the tax agency in Ireland of the same name, see Revenue Commissioners. ...
A website (alternatively, web site or Web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or more web servers, usually accessible via the Internet. ...
Sales are the activities involved in providing products or services in return for money or other compensation. ...
Alcas Corporation is the parent company of Cutco, KA-BAR, and Vector Marketing. ...
Olean is a city located in Cattaraugus County, New York. ...
CUTCO is a brand of cutlery and kitchen accessories directly marketed to customers through in-home consultations with independent sales representatives who are almost exclusively college students. ...
Salespeople, many of them college students and recent high school graduates, market Cutco products (mainly kitchen knives) to customers, especially their friends and family members[1]via one-on-one demonstrations, fairs & shows and through business-to-business sales[citation needed]. Vector builds its force through advertising via newspapers, Craigslist, direct marketing, MySpace, facebook, word-of-mouth, posted advertisements, and letters sent to students and recent graduates. Their flyers advertising "student work" are a common sight on many college campuses in the United States and Canada. For other uses, see College (disambiguation). ...
For other uses, see High school (disambiguation). ...
Craigslist is a centralized network of online communities, featuring free classified advertisements (with jobs, internships, housing, personals, for sale/barter/wanted, services, community, gigs, resume, and pets categories) and forums on various topics. ...
Wikibooks has more about this subject: Marketing Direct marketing is a discipline within marketing that involves contacting individual customers (business-to-business or consumer) directly and obtaining their responses and transactions for the purpose of developing and prolonging mutually profitable customer relationships. ...
MySpace is a social networking website offering an interactive, user-submitted network of friends, personal profiles, blogs, groups, photos, music, and videos. ...
Facebook is a social networking website that was launched on February 4, 2004. ...
Business Model
Sales reps are paid weekly and receive either a base pay per appointment or commission on products sold, depending on which is higher. Commissions start at 10%, increasing in 5%-per-promotion increments up to 30%. Promotions beyond that are monthly bonuses (15% then 20). Promotions are dependent upon career sales, and remain permanently; i.e., one could leave the company and, upon returning, receive the same commission rate. The company's average order is $250, and the average conversion ratio or closing percentage is 60% meaning that representatives should typically make more on their commissions than from the base pay.
Vector is a member of the Direct Selling Association and the Better Business Bureau. Within the BBB, Vector holds a "AAA" ranking -- the highest possible within its ranking system[2]. This article, image, template or category should belong in one or more categories. ...
The Better Business Bureau (BBB), founded in 1912, is an organization based in the United States, Canada and Puerto Rico. ...
A promote-from-within policy means that Vector managers all began at the bottom as sales reps. Many Vector offices are managed by recent college graduates, and assistant managers are generally college students, although the company does have a branch program that allows current students to open and run an office while on semester break. This allows students to be able to better connect with their managers (given they shared similar experiences).
Criticism - Advertisements are not exact representations of the manner of the wages offered.[1]
- Contractors are encouraged to borrow or purchase a sample kit containing knives for use in their appointments.[1]
- Pay based upon performance in the areas of appointments conducted or sales rather than time invested.[1]
- Team meetings are unpaid.
- Sales training conferences cost money to attend though attendees receive product equivalent to cost of conference.
- Employees are considered independent contractors (which in turn eliminates base wages and tax withholding).
David Tatar, a supervisor with the Wisconsin Consumer Protection Department, was quoted in a 1996 Washington Post article as saying "that state surveyed 940 Vector recruits in 1992 and found that almost half either earned nothing or lost money working for Vector" and "workers in that state earned less than $3 a day on average selling cutlery for Vector."[3] However, as with all systems where skill determines return, there can be no consistent trend regarding success rates. An independent contractor is a person or business which provides goods or services to another entity under terms specified in a contract. ...
References Street Cents was a TV show for adolescents that aired on CBC Television, produced in Halifax, Nova Scotia. ...
The Washington Post is the largest newspaper in Washington, D.C.. It is also one of the citys oldest papers, having been founded in 1877. ...
Year 1996 (MCMXCVI) was a leap year starting on Monday (link will display full 1996 Gregorian calendar). ...
is the 182nd day of the year (183rd in leap years) in the Gregorian calendar. ...
Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ...
is the 198th day of the year (199th in leap years) in the Gregorian calendar. ...
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