Retail Observer

RETAILOBSERVER.COM SEPTEMBER 2016 68 B U Y I N G G R O U P N E W S RO O n April 25-28 of this year, BrandSource members traveled to the Westin Verasa in California's Napa Valley for the 5th annual gathering of Maytag University. The four-day tutorial, provided as a member benefit and hosted by Whirlpool Corporation, immersed its guests in its business philosophy and long-standing commitment to customer service. The seminar offered in-depth training and education classes to its welcomed guests along with invaluable tips on more efficient ways of running their retail businesses. Those that attended this year were a mixture of first-time visitors as well as industry veterans who had attended the University's event previously. The seminar was a resounding success, engendering widespread praise from its attendees for its innovative approach to retail sales and its ability to motivate listeners to propose alternative ideas that might benefit their company. In all, 44 BrandSource members from 35 different locations arrived in Napa for Maytag University's educational offering which encompassed a wide variety of topics that are instrumental to success in the retail industry. Review of dealers' business plans, goal setting, competitive analysis, employee compensation plans, dealers operation review and best practices, customer post-purchase experience, extended service plans, dealer financial review and the Sleep Source gallery program were all discussed during the four-day seminar. In addition to the numerous training opportunities and workshops it offered, Maytag University allotted valuable time for members to socialize and network with one another. The highlight of this period came during a visit to a local winery where members were able to relax and indulge in wine tasting. An added feature to the itinerary for this year was, for each member who attended, to propose 1-2 new ideas for their store and implement it by the end of the third financial quarter. This unexpected assignment was beneficial in that it forced members to ponder new approaches to their bottom line and devise methods to make them work. Upon the conclusion of the seminar, feedback submitted by attendees was overwhelmingly positive. Members hailed the usefulness of the endeavor's topics and discussions, as well as the various ways that the lessons taught, could be applied to their businesses. Some went so far as to say that the time spent at Maytag University was the most valuable time they spent away from their respective stores. In addition, several members commentated that the time spent with their peers, discussing commonplace issues that affect their businesses was invaluable. It is also important to note that many of the new ideas that were submitted by those that attended the University were eventually successful. One member reported that their extended service plan sales have doubled in the past six weeks while another member met with positive results after they reallocated their advertising dollars. The creation and implementation of new ideas encouraged by Maytag University is a large factor behind its continued popularity during the last five years. The contribution by Serta to this year's Maytag University must also be acknowledged. Repre- sentatives from the mattress giant put on a demonstration to BrandSource members to show the benefits of introducing bedding and mattresses into a store's showroom. In order to do this, Serta provided a turnkey solution by using an interactive display, recommending mattress models, and educating members on financing, advertising, merchandising programs. Serta's visual presentation was an eye-opener to the attendees and a good reminder of the reason behind the success of its brand. In an effort to continue the success of Maytag University, details are currently being finalized to schedule the 6th round of informative seminars next spring. It is our sincere hope, at BrandSource, that prior attendees return once again to welcome new visitors to the University. Through the offering of intensive educational workshops such as Maytag University, members leave the confines of their stores and are encouraged to learn new approaches to their business through the helping hand of industry movers. BrandSource's commitment to its membership is exemplified by innovative ideas that motivate the dealer to grow their business or take a chance on a new product. Maytag University wouldn't be possible if it weren't for our very important vendor partner, Whirlpool Corporation. ORIENTATION AT MAYTAG UNIVERSITY

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