Vector Marketing Review: Is It Legitimate or a Scam?
There are hundreds of thousands of sites online that can make you money. These range from survey sites, to date entry sites, to product testing sites. Here at Surveyswonk, we review these kinds of sites and rank them on how much money you can make, how legit they are, and how safe the site is to use. However, this review is about something other than online survey taking or money earning. Instead, here I am reviewing Vector Marketing, one of the most recognizable names in Multi-Level-Marketing, for better or for worse. Often times Vector Marketing has been in the same sentence as “scam,” or “fake.” Therefore, let’s take a closer look at Vector Marketing, and see if it is a legit money making opportunity or just another pyramid scheme scam.
About Vector Marketing
Vector Marketing started in 1985 when they acquired Cutco Cutlery. Cutco Cutlery is a wholesale kitchenware company that sales multiple products; their most famous being their sets of knives. Vector Marketing is a multi-level-marketing company that sells these Cutco products doors to door.
What Products Does Vector Marketing Have?
As I mentioned earlier, although Cutco Cutlery has many kitchenware goods, VM primarily focuses on their Cutco Knife Sets. According to their website, they feature a patented Double D recessed edge with 440A stainless steel blades. These knifes aren’t cheap either. Their smaller, less intense sets start around $300, and go all the way up to $1200 for bigger, stronger sets.
How To Become A Sales Representative
To join Vector Marketing’s team, you just have to fill out a free application and be interviewed by the company. There is no requirements other than that; meaning this can be your first job, no sales experience needed. However, all new representatives go through 3 days of unpaid training.
Once you have been brought on the team, you will be sent a set of knives, valued at around $450 to show interested buyers. It is unclear whether you have to pay for this demo set up front, or if you just pay it back as you make sales. This is just another example of some things that are confusing about Vector Marketing.
How To Get Paid?
Vector Marketing Sales Representatives are independent contractors, yet they also get weekly base pay, as well as commission on sales. On top of that, they also receive pay for every qualified appointment they make and attend, whether or not a sale is made. One thing that puts me off for Vector Marketing, is that they do not say how much base pay is, nor do they mention anywhere the compensation for sales.
Representatives make appointments over the phone, and then show up to the house to show off the knives and make a pitch. If they want to skip the whole phone calling part, they can always walk door to door to try and sell knives. If this is a little too active for you, check out sites like Swagbucks or MySurvey to make money from the comfort of your own home.
High BBB rating:
Vector Marketing was rewarded an A+ BBB rating scoreboard, which is interesting knowing that they have had trouble in the past with lawsuits, and negative complaints against their company.
Cutco will replace the knifes for free at any time, no questions asked. This is great because with all kitchenware, things go bad. They get old, dirty, dull, etc. Cutco does a great job in having enough product to be able to send new sets to people that aren’t pleased with their set.
Just like above, Cutco offers to sharpen the knives for free. All you have to do is ship them to the company, and they will be returned to you sharp as the day you bought them.
Money Back Guarantee:
Within 15 days of the purchase, you can send back the product and get a full refund. You do however have to contact the company first and send a receipt of your purchase with the knives.
Targeting the young:
Chances are you knew someone who was, or their kid was, selling Cutco knives. You would let them practice their pitch, and offer pointers on how to better market the knives. You know someone because often times Vector Marketing targets young, college student aged kids. They are young, excited to make money, and want to practice and get experience. There are ad’s all over, and they even call people to see if they are interested. However, these ads and phone calls do not outline pay or compensation, or how much money it takes to get started.
Compensation and Pay?
Their site does not specifically say how much money you can make selling Cutco kitchenware. This is a red flag because what aren’t they telling you? Is the compensation so low that if someone was aware of it they would net sell the knives? What could they be concealing?
A lot of people talk about the multi-level-marketing aspect of the company, but let’s talk about the product. Bottom line; it is not the greatest knife. I mean, what would you expect, it’s a door to door sales job, you’re not getting Gordon Ramsey approved knives.
Yes, a pro was that they sharpen and return the knives for free, however, nothing in this world is free. There is always a price to be paid. In this case, that price ranges from $7-$20 for shipping fee’s alone. The more items you send, the more expensive that fee will be.
If Cutco determines that what you are trying to return is damaged, you will only receive half of your payment. They have full power here when it comes to determining if the knife is branded from a faulty knife, or from misuse by the consumer. You guessed it, they often say it is misuse, and only send you back half of your payment.
Vector marketing has had multiple class action lawsuits against them for failing to pay adequate wages, as well as providing false information to recruits. These are both huge red flags because not only have they lied about what they are paying, but they also in some cases not paid. This All happened in the past 20 years, but it still is a stain on their permanent record.
In all honesty, I would stay clear from Vector Marketing. I get a bad feeling about this, and apparently, others have had the same to say. If you google Vector marketing, a website that talks about them being a scam is going to be in the first page of search results. For a company that has had such a sketchy past, it begs the questions, “Have they gotten it back together?”
Regardless, I feel that once a company gets a pyramid/scam sticker connected to its name, it is hard to change their image. Because of this, I would suggest looking for other forms of income. There are great websites out there that are dedicated to helping you build, or increase secondary streams of income. Check out our survey review page to see over 70 survey websites where you can earn money online, and it only takes a few minutes to do so.