Well Known Product #4: Guitar Center

Consumer:

     Guitar Center attracts a large number of musicians seeking that quick one stop shop where they can buy their instruments. From experienced musicians to the fresh ones barely getting in the game. Guitar Center is like instrument heaven for the passionate players. They attract guitarist, bassist, drummers, wood winds, etc any musical instrument you can think of, they've got it. Apart from selling musical instruments Guitar Center rents out equipment to teachers, band directors, and college students.

"Our goal in the retail stores business is to continue to expand our position as the leading music products retailer in the United States. We plan to increase our presence in existing markets and open new stores in strategically selected markets. We will continue to pursue a strategy of clustering stores in major markets to take advantage of operating and advertising efficiencies and to build awareness of our Guitar Center and American Music brand names in new markets."(FundingUniverse)

Competitors:

 Guitar Center's competitors are music stores such as Sam Ash and the online competitor of Amazon. It really depends on the customer if they would shop at a brick and mortar store or an online website for their instruments. I personally would prefer to feel and play the instrument in person before i buy it then just order one off line. It takes the whole experience away.

"We saw [online] competitors growing and taking our shares; our margins were getting squeezed and we weren’t happy with our growth numbers,” said Zapf. “We needed to differentiate ourselves from the competition and dive into what was unique about our franchises, distribution assortments and overall offering.” To distinguish itself, Guitar Center developed Stores for Stores, an initiative that unites customers with store associates based on interest, expertise and location. The strategy adapts a Microsite platform approach for each store, allowing Guitar Center to leverage online competition as well as connect with consumers on a personal level. (Guitarcenterinc.com)

Market Place:

Guitar Center is is the leading retailer of musical instruments in the United States. From selling guitars, amplifiers, percussion instruments, keyboards, and professional audio and recording equipment. The company also deals with used instruments, it sells and purchases them as well.Guitar Center operates a chain of 122 stores. They maintain a presence in 45 major markets and in 15 secondary markets. Guitar Center also operates online through Musician's Friend, a mail-order and e-commerce retailer of musical instruments.

"These strategies help Guitar Center face the challenges from “pure play” web retailers like Amazon who leverage a low cost distribution model to compete successfully on price. With more than 4,000 store associates and 220 entrepreneurial store managers, creating a personalized in-store experience has been the company’s strong point." (slideshare.net)

"Guitar Center is a retailer of music instruments and related accessories. It is also engaged in recording and creation of music albums. The product portfolio of the company includes guitars of various types such as electric, acoustic, acoustic-electric, classical/nylon, and bass guitar. It also sells a broad assortment of bass gears, amplifiers and effects, keyboards, drums and Percussion, DJ's instruments, books and videos and related accessories. In addition to this, it also provides services including computer software and hardware, CD duplication and distribution services."(transworldnews.com)

Community:

A really awesome thing that Guitar Center launched to help its team members achieve their musical dreams was the Gain Program. It's pretty much an amazing opportunity for anyone looking to break through the music industry and gain the connections and insight into the industry. It's as if Guitar Center is backing you up in your dreams, the perfect company to work for. 

"The Gain Program was launched in March 2007 by Guitar Center to help GC team members achieve their musical aspirations. Gain presents a number of other benefits, deals, offers and opportunities to its participants, including partnerships with a number of vendors, services and institutions (music-related and non-music related alike). The Gain program continues to build relationships with companies, organizations and individuals who can provide exposure, insight, tools and opportunity to the musicians who work for Guitar Center."(Ultimate Guitar)