What does aftermarket service mean?
In response, CEOs at industrial OEMs are increasing their focus on aftermarket services—the provision of parts, repair, maintenance, and digital services for the equipment they sold. The appeal of this strategy is simple: services provide stable revenue—and often higher margins—than sales of new equipment.
What is an aftermarket replacement part?
Aftermarket parts are replacement parts that are not made by the original equipment manufacturer. Aftermarket parts are used to replace damaged parts in automobiles and other equipment, but their use may alter the coverage of an insured item.
How big is the automotive aftermarket industry?
Automotive aftermarket size forecast – United States 2020-2025. The size of the U.S. automotive aftermarket is projected to reach some 202 billion U.S. dollars in 2021. The market contracted amid the outbreak of the coronavirus pandemic, but is expected to increase to almost 230 billion U.S. dollars by 2025.
What are aftermarket goods?
Aftermarket (merchandise), any market where customers who buy one product or service are likely to buy a related, follow-on product. Aftermarket (automotive), the addition of non-factory parts, accessories and upgrades to a motor vehicle also to include removal of parts after vehicle is placed on market.
Which market is also known as aftermarket?
Unsourced material may be challenged and removed. In economic literature, the term “aftermarket” refers to a secondary market for the goods and services that are 1) complementary or 2) related to its primary market goods (original equipment).
What is another word for aftermarket?
In this page you can discover 3 synonyms, antonyms, idiomatic expressions, and related words for aftermarket, like: auto-parts, and oem.
Why do OEMs struggle to sell in the aftermarket?
In working with dozens of industrial companies on achieving their services growth aspirations, we find that OEMs often struggle to sell in the aftermarket because they try to tackle services sales the way they do original equipment sales.
Which is an advantage of selling in the aftermarket?
Overall, these seven unique elements of aftermarket sales tend to give OEMs a competitive advantage. But this is often not enough to maintain high market share.
Why do you need an aftermarket sales force?
Seven unique factors in aftermarket sales lead to a seven-part recipe for a high-performing aftermarket sales force. As margins on traditional products are squeezed and as growth from original equipment sales slows, it is common for industrial OEMs to look toward their aftermarket business to fuel growth.
Which is an example of an aftermarket strategy?
For example, in the aerospace industry and in a series of well-publicized strategic moves, Airbus, Boeing, Bombardier and Embraer all announced plans to grow their aftermarket revenue significantly. We anticipate these aftermarket-focused growth strategies will continue. But once the path has been defined, do OEMs know how to execute?
How is your previous experience relevant for this position?
I dealt with all challenges such projects propose, including tight deadlines, adapting to changes on the go, and a constant need to re-evaluate the milestones and hire new employees. I didn’t do badly in my last job, and honestly believe that my experience is highly relevant for this position, and will help me greatly.
When to say you have no previous experience?
If you apply for your first job, or first real job (not counting in some part time jobs or volunteering roles you had at school), and they ask you about relevant experience (perhaps because they have the question on their list and ask each job candidate the same questions), it is a ll right to say that you have no experience.
How to answer a question about your previous experience?
Let’s have a look at 7 sample answers. My list includes some typical choices, but also some creative and philosophical answers, including answers for people with no previous experience. I hope you will find on the list at least one answer you can use in your interview, bearing in mind your situation and the job you are trying to get. Enjoy!
How can I learn from my previous experience?
You will learn how to carry our your duties after shadowing your colleagues for a day or two. You won’t be the fastest, or the most efficient worker straight away, but you will handle the job. What’s more, many companies have excellent training programs in place (or at least some training programs). They will teach you how to do everything in work…