1. How did Snap-on tools plan to enhance its franchise network?
In order to increase its franchise network, Snap-on Tools came up with an ideal master plan. It was known as the Snap-on Masters of Metal Tour. In this event, they showcased a dubbed truck that had a number of tools storage areas as well as equipment. They would hold a number of various Snap-on Tools as well as meeting with the company’s employees. They would, in turn, give them extensive teachings on who they were, their unique tools as well as their way of doing business. Moreover, Snap-on tools dealt closely with its franchises and the end product was being able boost sales and the profits.
2. Why did Snap-on wait to enter emerging markets?
The main reason why Snap-on Tools was cautious about dealing with emerging markets was due to the fact that a number believed that the company was not committed. They believed that it was not pumping enough capital into their marketing strategies. This greatly affected Snap-on and turned out to be an issue in building its brand awareness. It would be difficult to generate sales. There was a certain misconception that without ideal investment in marketing, the firm’s brand would likely diminish. This was due to the competition that came from economic recession pricing pressures from its competitors. It increased and so Snap-on Tools had to keep its customers satisfied and happy with their products as well as services. In detail Europe 2009. The continent was hit hard after the double dip of the Euro shrinking in a sixth straight quarter. All these uncertainties hindered Snap-on from jumping into emerging markets.
3. What could Snap-on do about the skilled labor shortage?
To help with the shortage of skilled labor, Snap-on Tools should take up campaigns. They should be available not only in all the technical institutions but also at various fairs that are conducted in many schools. In addition, they need to figure a way to hold a certain percentage of the company’s profits in order to come up with enticing company internship programs that pay well. Moreover, they can try to cross the border to many emerging economies and offer new job opportunities to younger generations.