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Washburn Guitars

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by

Morgan Brennan

on 7 March 2013

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Transcript of Washburn Guitars

Source: http://www.pulseonline.com/washburn/ Morgan Brennan
Keira Heneghan
Michelle Kilgallon
Caroline Quinn
Michelle Young Strengths Weaknesses Opportunities Threats 1991
company began manufacturing guitars in U.S. 1977
Small Chicago firm bought Washburn brand name, modern era of Washburn Guitars begins 1883
Founding
of Washburn Company Company Issue SOLUTION 1 SOLUTION 2 SOLUTION 3 SOLUTION 5 SOLUTION 4 Every skill level
one-of-a-kind
batch custom
mass-customized
mass produced

Generational rock stars Ineffectively publicizes their price and model variety

No set Washburn location
Purchased only through authorized dealers Join the rush toward technological innovations through music

Rise of the Guitar video game craze

Exposure to young potential musicians Shifting taste of music consumers http://www.gactv.com http://www.last.fm http://www.accessatlanta.com http://www.last.fm http://iluvnickwheeler.buzznet.com http://www.zimbio.com Product Development Washburn Guitar Factory Tour http://forums.washburn.com http://www.boogiestreet.com PROS: CONS: Increase revenue
Brand recognition
Takes advantage of loyal customer base
Level playing field with competitors Risky to enter new industry
Might have to adapt factory to support tours
Associated costs Drop in discretionary spending http://www.statista.com http://www.statista.com In Game Advertising Market Development Virtual and physical product experience Market Development http://www.metue.com http://www.vglounge.com Celebrity Endorsements Pros:
Appealing to younger generations
Music video games are actually encouraging people to play real instruments
Adds realistic quality to the game
Gamers have high recall of brands used in a game Cons:
Can be intrusive
Prone to patent lawsuits
Activision vs. Gibson http://www.ps2media.ign.com http://www.fivestarmusic.com Current Endorsers http://www.allmedialp.com http://www.gibson.com Pros:
Keep up with major competitors
Increase brand recognition
Encourage purchasing Washburn Guitars Cons:
•Extensive Process for developing App
Hiring and paying outside engineers
Great Variety of guitar apps Number of Mobile App Downloads Worldwide from 2009 to 2016 (millions) Total Worldwide Mobile Application Revenue in 2011 and 2016 (billions) Diversification Pros:
Links the musicians credibility to Washburn's guitars
Increase brand name and sales
Cost Effective Mobile App Creation http://www.officesolutionsme.wordpress.com Cons:
Unpredictable popularity
Celebrity scandals
Overshadowed by other endorsees Musical Education Partnerships Market Development PROS:
Company outreach
Laying foundation for loyal customer base CONS:
Unable to sell at full retail price
May detract from brand image (high end) http://www.athensohiotoday.com http://www.themountainmail.com 1. Credibility in Industry
2. Admired in Society
3. Prolonged Relationship http://www.posh24.com http://www.tri1025.com History Younger generations interested in the guitar industry are not as familiar with Washburn Guitars as they are with leading competitors.

Washburn Guitars needs to...
Revitalize endorsements
Enter the music tourism industry
Utilize technological promotions Key Decision Criteria Expand Brand Recognition Increased Sales Revenue More Competitive Player in Industry Which do you think should win? Endorsements from music icons Questions? http://www.statista.com http://www.statista.com
Full transcript