News and Trends

• Wine-and-spirits W-Ds join to form 38-state distributorship
  Southern Wine & Spirits of America Inc. has teamed with Glazer's Distributors in a strategic joint venture to distribute wine and spirits in 38 states that comprise more than 80% of the U.S. market, the companies say. If approved by regulators, Southern-Glazer's Distributors of America would start out with 300,000 accounts across the country and 18,000 employees. East Bay (Calif.) Business Times/San Francisco Business Times (8/13)

• Airgas sales, net income up in Q1
  Airgas Inc. said its net income for the first quarter rose to $68.9 million, compared to $51.7 million in the same period last year. The distributor of industrial, medical and specialty gases reported quarterly sales of $1.1 billion, an increase of nearly $200 million from the year-ago period. MSN Money/American City Business Journals (8/12)

• Other News

• Mass. Convention Center Authority urges union to resolve dispute with Aramark
  The Boston Globe (8/13)

• WinWholesale bows Winnelson plumbing store in Clinton, Mo.
  Modern Distribution Management (8/13)

	Supply Chain Innovations: Executive Kit Distribution industry expert, Dr. Adam Fein shares the four main topics of his acclaimed book Facing the Forces of Change®: Lead the Way in the Supply Chain in this compilation of articles. Click here to download IBM's executive kit for strategic insight and innovations for your supply chain.
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Best Practices

• Selling in an "experience economy"
  Today's consumers want memorable experiences, not just a product. This is one of several points to keep in mind when crafting your business's Web site and pitching your good or service, expert Jerry Bader says. Bader cites the authors of "The Experience Economy: Work is Theatre & Every Business a Stage," who write: "While commodities are fungible, goods are tangible, services are intangible, experiences are memorable and transformations are effectual. The experience economy demands a new way of thinking about your audience and exactly what it is you're selling." MarketingProfs (free registration) (8/12)

Sales

• The ripple effect of a misguided pricing strategy
  Setting a price for your offering that is way out of the sync with the sector in which you are selling can have deleterious effects both on your business and the market as a whole, this blog poster asserts. He quotes Paul Sommerfeld of Communications Supply Corp., who notes that if a rival company "is not good at pricing it's going to draw business from me -- at least in the short term. He's going to get that business unless we clearly communicate the value we provide and the reason for that higher price. In the long term he might not sustain his business model -- but in the short term it could still hurt us." Modern Distribution Management (8/13)

• Good salespeople's skills should extend beyond problem-solving
  It may sound reasonable that all good salespeople are good problem solvers, but when managers focus just on that aspect, the salesperson's effectiveness can be limited. Salespeople who too closely identify with the problem-solver label can wind up missing out on other opportunities to help their customers, according to this article. DaveKahle.com (8/5)

Hot Topics

Top five news stories selected by NAW SmartBrief readers in the past week.

• Lean operations can boost profit up to 30%, experts say (Multichannel Merchant)

• Make sales meetings more effective (SalesForceXP)

• Grainger reports 11% jump in sales for July (Industrial Distribution)

• Advice: Don't put off until tomorrow ... (CEO Strategist)

• Cardinal Health considers spinoff of medical-supply unit (American City Business Journals)

• Results based on number of times each story was clicked by readers.

Small Business Manager

• Tips for tightening the budget
  As confidence wanes for small-business owners, Snow Magazine has developed a list of tips for streamlining the budget. Among the ideas: Offer customers prepayment options and be clear about payment deadlines, use Web-based accounting software and keep employees productive, and happy, with perks that keep them in the office. Snow Magazine (8/12)

Executive Life

• Airlines add in-flight technology to increase revenue
  Some carriers are adding in-flight e-mail, live television and Wi-Fi access to generate revenue and please passengers who demand access to technology. However, experts note that airlines are still examining the business model for Wi-Fi service. "Airports are the No. 1 area for wireless hot spots," said Darryl Schoolar, senior analyst for wireless broadband at In-Stat. "People use them for business and pleasure. Airplanes are the next frontier." The Seattle Times/Newhouse News Service (8/10)

• Survey: Executives see managing 401(k) as employee's job
  An online survey of senior financial executives at big U.S. companies shows that firms expect employees to bear most of the responsibility for shaping their 401(k) retirement nest egg. Employees are responsible for managing their own accounts, increasing savings and handling personal-finance issues outside the 401(k) plan, the 208 executives at companies with $100 million or more in revenue said. Many executives surveyed by CFO Research Services and Charles Schwab said their company educated employees about the features, benefits, costs and rollover options of its plan. U.S. News & World Report (8/12)

NAW Insider

• Hertz Fun Collection™
  The Hertz Fun Collection™ offers a unique line of fun, sporty cars that can turn a regular car rental into an exciting driving experience. More than 8,000 Fun Collection vehicles are available at select airport locations across North America. Fun Collection vehicles are equipped with SIRIUS Satellite Radio. To enroll in the NAW/Hertz Business Account Program, visit NAW's Web site.

• 2008 Employee Compensation Report: Available for immediate download
  As the U.S. economy continues to present challenges, distributors are reconsidering their staffing needs and how to attract and keep top performers. See how your compensation program compares to others. This report focuses on data from 1,704 distributors from across all lines of trade. It gives you the benchmarks and backup needed to budget employee pay and benefits with confidence.

Weekly Poll

• Has your company recently adjusted its pricing strategy?
  After voting once, check out the real-time poll results on NAW's All Access page as often as you'd like.

	Yes -- We had to recover operational costs somewhere.
	Not yet -- We are trying alternatives.
	No -- We are doing well and have not found it necessary.

Independent Sales Agent Reid Supply Company Open Quality/Operations/Procurement Supervisor Bearing Service, Inc. Corporate office, Livonia, MI

SmartQuote

In three words I can sum up everything I've learned about life: It goes on." --Robert Frost, Pulitzer Prize-winning poet