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Washburn Guitars

Patrick Creagh

Juliana Lacouture

Conor Montijo

Suzanne Fitzpatrick

Recommended Strategy

Join the Save the Music Foundation!

  • Increases celebrity association
  • Appeals to younger generation
  • Socially Responsible Corporation
  • "Adopt" schools in Midwest
  • Reduce costs
  • Easier entry

Key Decision Criteria

www.youtube.com/watch?v=cnQMkrMSakc

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Background

130 Years of Washburn

Market Overview

Delta Blues: The Beginning

Innovation and Washburn

Major Players

Washburn's Position

  • Subsidiary of U.S. Music Corporation (USM)
  • USM is a subsidiary of JAM Industries
  • Opened in 1883
  • Maxwell St., Chicago
  • Hotbed for the Delta Blues
  • First to use musicians to endorse the product
  • Became one of the largest instrument manufacturers in the United States
  • Fender Musical Instruments Corporation
  • Gibson Guitar Corporation
  • Top US manufacturers
  • Account for over half the revenue

  • Yamaha Musical Intruments
  • Ibanez
  • Top foreign manufacturers

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http://www.washburn.com/about/

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The Festival Series

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Washburn Today

Target Market

Market Position

  • Signature Series
  • Range of Instruments
  • Relationship with retailers and artists
  • Dedication to quality and innovation for all guitarists

Alternative Solutions

  • 18-34 year-old
  • Increased about 11% from 2003 to 2005
  • Majority male
  • Especially among higher price categories (25-34 year-old)

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VH1 Save the Music

Company Issue

Pros

Cons

  • "The Foundation’s core mission is to restore instrumental music education programs, ensuring that every child has access to a complete education that includes the benefits of music instruction."

  • Become a sponsor: provide both financial help and guitars for the schools

  • Supports a good cause as well as inserts the Washburn brand name in schools and households
  • Entry into the foundation could be difficult

  • Cost of providing both money and guitars

  • Ambassadors play a key role and Washburn has few celebrities

A Tradition of Innovation

Cons

Pros

SWOT Analysis

Issue

  • Game has decreased in popularity

  • Little use for older generations

  • May give Guitar Hero makers idea to use a more popular guitar brand

  • Might give off the notion that Washburn is just a rock guitar company
  • Very effective way to reach out to young adults

  • Uses one of Washburn's more popular styles of guitar

  • Modernize the brand name

  • Play songs made famous by Washburn artists

Strengths

Weaknesses

  • Variety of products
  • Quality
  • Financial planning
  • Lack of advertising
  • Issues with setting price

http://www.guitarworld.com/washburn-wd-20sce-acoustic-electric-guitar

http://musicgearforless.com/XM12B

http://vacationhouse-musicstore.weebly.com/washburn-guitars.html

http://www.cutting-edgemusic.com/categories/Mandolin-706_707_709.html

www.youtube.com/watch?v=tLrBFjEXDOo

Opportunities

  • Not a strong name in the industry
  • How can Washburn become more well known and competitive?
  • Need to target new markets

Threats

  • Global competition
  • Very sensitive to changes in the economy
  • Relationship with independent dealers
  • Acquisition of Parker Guitars
  • Relationship with other US Music Corporation brands

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Channel

Pros

Guitar Show

Cons

Pros

  • Interaction with Washburn's lesser known celebrities

  • Use of social media increases popularity

  • Learn to use Washburn's guitars

  • Able to reach out to all different genres of music

Cons

  • Have to be able to attract people to the YouTube channel

  • Not as personal as actual lessons

  • Impossible to cater to every request

  • Not an ideal strategy for older players that do not use the Internet often
  • Show off Washburn's wide array of guitars

  • Also can display Parker guitars

  • Would attract those interested in higher-quality and more expensive guitars

  • Cater to the death metal group, most popular genre of underground metal, if they choose
  • Seen as more of a hobbyist event for collectors

  • Washburn does not have the celebrity roster to compete with the guitar shows of other companies

  • Would not help with beginning guitar players

(Source: Iowa State University Department of Statistics)

  • Cost
  • Ability to reach the target market
  • Keeping reputation with current and loyal consumers
  • Avoiding cannibalization
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