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LUCRUM Radio: Episode 6 – Rob Franks

August 7, 2008

Rob Franks is the Corporate Director of Strategic Pricing for the Cintas Corporation, located in Mason, Ohio.  Cintas is one of Cincinnati’s largest employers, and one of the nation’s leaders in providing business services such as Uniform Rental, Floor Mats, Shop Towels, First Aid & Safety Service, Document Storage and Destruction, and on and on.

I have a special love for Cintas, as the company provided me with my first “Real Job.”  As a young management trainee, I spent time driving the uniform trucks, replacing the floor mats, wandering the halls of the corporate offices, flying around the country training service reps to use handheld computers, and selling first aid products and services.  Needless to say, I learned a lot about business at Cintas.

The company runs a tight ship, and is known for delivering high quality service at a premium price.  It was a great place to learn the art of selling because we were never the cheapest game in town.  Sure it might be easier to sell if you are really cheap, but that is not really sales.  That is peddling a commodity.  Thus I learned early on that it is foolish to try to compete on price alone.  Long term growth relies on understanding the customer and delivering value.    In short, making the customer realize that you get what you pay for, and if you paid for Cintas you truly got more for your money.  This has served me well in the years since.

So when Rob agreed to talk to me about marketing, pricing, technology and business strategy, I was exhuberant.  This interview took me down memory lane, and then off into the future.  Rob is a pioneer in marketing, especially when it pertains to price.  Rob has a firm grip on the relationship between pricing and value – and why they a vital part of the marketing mix of a firm.

Now in an era of uber connected consumers, the need for a company to have a clearly articulated pricing strategy that is in line with it’s value proposition is greater than ever.  The transparency created by the internet makes it easier for consumers to compare products and services and assess relative value.  Therefore companies have to be very careful when it comes to price.

Listen along as Rob describes his ideas about pricing and learn why little differences in price make a big impact on profit.

Thanks Rob for agreeing to do this podcast and for enlightening me with your words.

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LUCRUM Radio: Episode 6 – Rob Franks

Written by davidebowman · Filed Under Podcast 

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One Response to “LUCRUM Radio: Episode 6 – Rob Franks”

  1. davidebowman on August 7th, 2008 7:13 pm

    Just put up podcast with Rob Franks, Corporate Director of Pricing Strategy with Cintas, on LUCRUM blog. Listen: http://tinyurl.com/6gl3f9

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