Abstract
Open Loop Energy, Inc. is a mining supply and service company founded in 1992 in Safford, Arizona by Charles A. Hoisington. The company is in the top of its field and continually sets itself apart through leading innovations on mining equipment and processes. Recently one of its most successful products, the “Digital Controlled Water Distribution System” or DCWDS for open pit mining water trucks, has been upgraded with technological advancements to the way it tracks water usage, data logs, improved maintenance issues, and trouble shooting. This improvement has given cause for a re-release of the water distribution system and a renaming of the product. The second generation of the Digital Controlled Water Distribution System is now called the “G2”. It will require a unique method of marketing and release as the DCWDS still has value left in it for those customer who purchased the system before the release of the G2. The technology is patented, which gives Open Loop Energy, Inc. an edge on a market that is filled with competitors who look to follow Open Loop Energy, Inc.’s example and copy the innovations their team produces. Such competitors will lose their hold on the market if Open Loop Energy, Inc. markets this product effectively and claims a large share of the market. Currently, Open Loop Energy, Inc. uses a direct marketing method and reaches potential customers through sales representatives who establish a relationship with the mines they are working with. These relationships are grounded with the trust and obligation fulfilment that the company was founded on. Because Open Loop Energy, Inc. covers multiple region and continents, the relationships that the sales representatives form allow the company’s culture to remain intact despite the size of the company. However, as Open Loop Energy, Inc. moves forward they will need to implement other forms of marketing such as advertisements in mining magazines and online mining sites that have high traffic, a strong presence at conventions to establish new connections, and community involvement outside of the region where headquarters is located.