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Flaxwood Guitars, Perspective of a "new" player entering the market - Rick Nelson
 

Flaxwood Guitars, Perspective of a "new" player entering the market - Rick Nelson

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Tonal Innovation Center (TONIC) hosted the second annual International Musical Instruments Seminar in Joensuu, Finland on 14th September- 16th September 2011.

Tonal Innovation Center (TONIC) hosted the second annual International Musical Instruments Seminar in Joensuu, Finland on 14th September- 16th September 2011.

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  • “ Chain Store examples: Guitar Center, Sam Ash, Musik Produktiv, Musik Borsen etc.

Flaxwood Guitars, Perspective of a "new" player entering the market - Rick Nelson Flaxwood Guitars, Perspective of a "new" player entering the market - Rick Nelson Presentation Transcript

  • “ So You Think You Can Compete In The Music Industry?”
    • Breaking into the Music Business, from the perspective of a new player in the market
  • “ It’s gotta be a Fender, a Fender Copy, a Gibson or a Gibson Copy”
  • In spite of their looks, guitar players are very conservative
    • 60+ yr. old designs are still the predominant choices for guitar players
    • “ traditional” construction methods have changed, but not materials or body shapes
    • Guitarists are slow to accept something new or different.
  •  
  • Some 20th Century innovators
    • Leo Fender
    • Les Paul (Gibson)
    • Paul Bigsby
    • Ned Steinberger
    • Grover Jackson
    • Trevor Wilkinson
    • Floyd Rose
    • Bob Taylor
    • Ken Parker
  • “ You only have one chance to make a first impression”
  • The Worldwide Web: www.
  • “ Online Revolution”
    • 1995: 634,000 internet sites
    • 2010: 255,000,000 internet sites
    • 21,400,000 new internet sites in 2010 alone…
    • Much more information is available to the consumer than ever before
  • Factoids:
    • 96.4% of M.I. retailers have a website
    • 62.4% of M.I. retailers will redesign their internet sites this year
    • 43.8% of M.I. retailers sell new products online
  • Internet Sales
    • In 2010 34% of total music industry sales were made online or by catalog vs. only 9% in 1995
    • #1: Thomann (Germany): $752.4M / €524.8M
    • Musician ’s Friend (USA) $708M / €495M
  • Social Media
    • 80.6% of M.I. Retailers now have a Facebook presence
    • 42.6% of M.I. Retailers are on Twitter
  • Where purchases were made:
    • Independent M.I. Retailers: 41.2%
    • “ Chain” Stores: 36.9%
    • Online Stores: 21.9%
  • Fretted Instrument Sales
    • Guitars are STILL the single most popular instrument worldwide
    • 2010: 2,377,310 units sold in the U.S.A.; $839M / €590M (up 2.2% vs. 2009)
    • Acoustics (1,200,831 units) up 8.2% 2010 vs. 2009
    • Electrics (1,176,479 units) up 1.1% 2010 vs. 2009
  • Guitar Purchase Survey
    • Survey of over 1,100 consumers who purchased a guitar valued at €645+ during the last 12 months
    • 93% male; 7% female
    • Median age: 32 years old
    • Median Income: €43,700
    • Owner ship level: 2.9 instruments ea.
  • Guitar buyers are willing to sample a variety of retail formats:
    • Online retail stores
    • Chain stores
    • Independent retail stores
  • Guitar buyers remain highly price driven
    • 90.9% of online buyers said “low prices” were extremely important to them
    • 49% of online buyers were “very satisfied” with their purchase
  • The €¥£$ have it…
    • “ We don’t make a lot of money in the music business, but we sure don’t make a lot of money”
  • “ Who IS that masked man?”
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