Satisfied Brake Products was selected by researcher Frost & Sullivan as the recipient of the 2005 Growth Strategy Leadership Award as part of the "North American Brake System Parts Aftermarket — Friction Parts" analysis.
The award was presented for successfully increasing sales and expanding its customer base in the highly competitive North American friction materials aftermarket.
Each year, the award is presented to a company that has exhibited an exceptional growth strategy within their industry. According to Frost & Sullivan, Satisfied has demonstrated an ability to grow in a saturated and mature market through a combination of strategies including a unique youth-oriented sales plan, adopting the latest technology to ensure quality and promote lean manufacturing, and exploring new venues for brake pads and shoes by serving niche markets.
“For instance, the “Think Smart” campaign, which features a young man whose head is emblazoned with the company’s Smart Braking system logo, is typical of Satisfied’s hard-charging, think-outside-the-box attitude,” says Frost & Sullivan research analyst Stephen Spivey. “This is a marked contrast from the buttoned-up corporate approach to friction parts of its larger competitors.”
The company has also taken advantage of recent trends in the friction materials aftermarket by serving niche user segments ignored by other manufacturers. For example, Satisfied’s Gran Sport line is designed to meet the specific needs of racing enthusiasts and hobbyists who “trick out” their cars and trucks. The company’s tuner pads are easily available in performance racing shops across North America, giving the company a chance to cultivate brand loyalty.
“Traditional distributors have yet to embrace these products, but this is an important part of Satisfied’s successful growth strategy since this segment of the aftermarket is growing faster than the North American friction materials aftermarket as a whole,” notes Spivey.
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