situation analysis - ibanez gio

MMI 3033DESIGN PROJECT 1MEDIA INNOVATIONSITUATION ANALYSIS

BRAND: IBANEZ Gio

MOHAMAD FARIDZ HUSAINI BIN HASSAN1081105671DESIGN PROJECT 1, MEDIA INNOVATION

TABLE OF CONTENTS

CHAPTER 1 - PROJECT OVERVIEW

1.1 - INTRODUCTION1.2 - PROBLEM STATEMENT AND ISSUES1.3 - OBJECTIVES AND AIMS

- 1- 2- 3

CHAPTER 2 - PROJECT PROFILE

2.1 - PRODUCT2.2 - PRODUCT CLASSIFICATION2.3 - PRODUCT CHARACTERISTICS2.4 - PRODUCT RANGE2.5 - DISTRIBUTION2.6 - PRODUCT LIFE CYCLE2.7 - THE BRAND2.8 - BRAND IMAGE AND IMPLICATION2.9 - STRENGTH AND WEAKNESSS2.10 - ADVANTAGES AND DISADVANTAGES2.11 - UNIQUE SELLING PROPORTION2.12 - PROMOTIONAL HISTORY AND ADVERTISING SCHEDULE2.13 - POSITIONING STATEMENT

CHAPTER 3 - THE COMPANY

3.1 - COMPANY OVERVIEW3.2 - BUSINESS DESCRIPTION3.3 - COMPANY HISTORY3.4 - KEY PEOPLE3.5 - LOCATION AND SUBSIDIARIES3.6 - BRANDS, MAJOR PRODUCTS AND SERVICES3.7 - CORPORATE VISION3.8 - CORPORATE MISSION3.9 - COMPANY’S CURRENT PROMOTIONAL STRATEGY3.10 - PRODUCT SALES’ HISTORY3.11 - CURRENT MARKETING OBJECTIVE3.12 - MEDIA EXPENDITURE

CHAPTER 4 - CONSUMER AND STAKEHOLDERS

4.1 - CURRENT CONSUMER’S CHARACTERISTICS4.1.1 - DEMOGRAPHICS4.1.2 - PSYCHOGRAPHICS4.2 - STAKEHOLDER’S CHARACTERISTICS

- 4- 5- 5- 6

- 10- 10- 11- 12- 12- 13- 13- 14- 15

- 17- 17- 18- 20- 21- 22- 22- 22- 22- 22- 23- 23

- 25- 25- 25- 26

TABLE OF CONTENTS

CHAPTER 5 - INDUSTRY AND MARKETPLACE

5.1 - THE INDUSTRY5.1.1 - DEFINITION OF THE INDUSTRY5.1.2 - SHAPE OF THE INDUSTRY5.1.3 - DEVELOPMENT OF THE INDUSTRY5.2 - THE MARKET PLACE5.2.1 - CURRENT CONDITION OF THE MARKET PLACE5.2.2 - CHANGES IN MARKETPLACE

CHAPTER 6 - COMPETITIVE SITUATION

6.1 - DIRECT COMPETITORS6.2 - INDIRECT COMPETITORS

CHAPTER 7 - SWOT ANALYSIS

7.1 - STRENGTH7.2 - WEAKNESS7.3 - OPPORTUNITY7.4 - THREATS

CHAPTER 8 - STRATEGIC TARGET AUDIENCE

8.1 - PROPOSED PRIMARY TARGET AUDIENCE

CHAPTER 9 - RESEARCH DEVELOPMENT

9.1 - MARKETPLACE RESEARCH9.2 - MARKET OBSERVATION9.3 - ONLINE SURVEY9.4 - INTERVIEW

CHAPTER 10 - PRECEDENT STUDIES

10.1 - ADVERTISING STRATEGY10.2 - PRECEDENT STUDIES

CHAPTER 11 - REFERENCES

CHAPTER 12 - APPENDICES

- 28- 29- 30- 31- 32- 32- 33

- 43- 43- 43- 43

- 35- 40

- 45

- 47- 57- 58- 67

- 70- 73

CHAPTER 1p r o j e c t o v e r v i e w

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1.1 INTRODUCTION

Ibanez is a Japanese guitar brand owned by Hoshino Gakki. It was founded back in 1957 in Nagoya, Japan. Their products ranging from Guitars and Basses, Amplifiers, Effects, other accessories such as guitar pick, guitar straps and etcetera. Ibanez were on of the first of Japanese’smusical instrument companies that gain a significant foothold in United States and Europe as well they are the first guitar brand that mass produced 7-string guitars.

A brief of Ibanez’s history; the owner of ibanez ; Hoshino Gakki began its company in 1908, as a musical instrument selling division. - that time Ibanez was not “Ibanez” yet. The “Ibanez” brand started back in 1929 when Hoshino Gakki started to import guitar from Spain ; “Salvador Ibanez”. But when “Salvador Ibanez” workshop was destroyed during Spanish Civil War, “Ibanez Salvador” guitar was no longer exist, so Hoshino Gakki bought the "Ibanez Salvador" brand name rights and started making Spanish acoustic guitars in 1935, at first using the "Ibanez Salvador" brand name, and then later shortening it to just "Ibanez".

Based on Nagoya, Japan, Ibanez also do have factories and workshop in other countries as well; United States, Korea, and the closest to Malaysia is in Indonesia. Currently there are 4 types of Ibanez’s line quality. Those 4 are, Ibanez Prestige, Ibanez Premium, Ibanez (only), and Ibanez Gio. These 4 types of lines differentiate the quality and prices, Ibanez Prestige is the highest-end quality (usally made in Japan) while Ibanez Gio are a “budget series” and made in Indonesia,China or Korea. Ibanez Premium was a level below from Ibanez Prestige but higher level than just standard Ibanez (Ibanez only).


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1.2 PROBLEM STATEMENT AND ISSUES

Ibanez is a big name in music industry. But their beginner/budget-product line which is “Ibanez Gio” is facing a stiff competition from other brand such as Yamaha. This such happened is due to the fact that beginners tends to buy Yamaha Guitar rather than Ibanez as they’re having this perception of ; ‘Ibanez is more to mid-range/semi pro and above’ level type of product.

Other than that, here in Malaysia there is hardly any music product trade show like ‘NAMM Show’ that happened annualy in USA. This leads to lacks of music product exposure and decent awareness particularly to Ibanez Gio’s products.

1.3 OBJECTIVES AND AIMS

Objectives• Compare and contrast competitor’s brand and Ibanez Gio product.• Discover the characteristic of guitar player especially the begginers.• Creates an Ibanez Gio’s product trade shows and events.• Lesson for the beginners from famous guitarists endorsed by Ibanez (using the Ibanez GIO) via viral video.• Online demo videos.• To create more ‘live’ or ‘on-ground activation’ for Ibanez Gio‘s productssuch as a live gig/concert that utilizes Ibanez’s products.• To create a targeted ‘Below the line’ collaterals to support on ‘on-ground activation’ such as flyers.• To create a targeted ‘Above the line’ advertisement such as magazine (music magazines) etc.• Utilizes the social media to promotes Ibanez Gio.

Aims• To ensure the begginers are aware and exposed to Ibanez’s begginers-line product.• To diminished the perception of “Ibanez are more to semi-pro and above level product”.• To increase the number of Ibanez Gio sales in Malaysia.• Breaking the dominance of Yamaha Guitar for beginners.

CHAPTER 2p r o d u c t p r o f i l e

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2.1 PRODUCT NAME - Ibanez (Ibanez Gio)

2.2 PRODUCT CLASSIFICATION • Ibanez Gio is a ‘budget’ guitar series of Ibanez product-line similar to Fender's Squier guitars and Gibson's Epiphone line. • Ibanez Gio is Ibanez’s quality label that Ibanez uses for Indonesian and China made guitars/basses.

2.3 PRODUCT CHARACTERISTICS

Prices

• Electric Guitars RM 570 - RM 1300 Electric Guitar Jumpstart Package : RM 1100 Electric Guitar Mikro (smaller scale/compact size) : RM 1100 • Basses 4-Strings : RM 600 - RM 1300 5-Strings : RM 950 * Only one model Bass Jumpstart Package : RM 1100 Bass Mikro (smaller scale/compact size) : RM 800

Packaging

• Ibanez Gio guitars/basses comes with a shipping-box (gig bag sell seperately).• Gig bag included for ‘Jumpstart Packages’

Type

• Ibanez Gio are musical instruments product line that consists of electric Guitars and Basses.


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2.4 PRODUCT RANGE • Electric Guitars

Ibanez Gio | RG Series

Ibanez Gio | RGA Series


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2.4 PRODUCT RANGE • Electric Guitars

Ibanez Gio | SA,GAX & ART Series

Ibanez Gio | Jumpstart Package


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2.4 PRODUCT RANGE • Electric Basses

Ibanez Gio | SR Series, ATK & ART

Ibanez Gio | Jumpstart Package


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2.4 PRODUCT RANGE • Mikro

Ibanez Gio | Mikro GRGM21GB

Ibanez Gio | Mikro GSRM20


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2.5 DISTRIBUTION

Distribution of Ibanez’s product is indirect, from the manufacturer/factory to the recognize distributor and to retailer or respective local music stores. Ibanez’s product has selective distribution because it sold on certain music stores and ordering from dealers. The biggest importer,distributor and retailer of Ibanez’s product is Bentley Music.

2.6 PRODUCT LIFE CYCLE

The product life cycle for Ibanez’s (Gio) product is reaching the peak stage.

Intro Growth Peak Decline

Sales

Time


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2.7 The Brand

Ibanez Gio is one of the Ibanez’s product quality-line which first introduced in 1998. The other product quality-line from Ibanez are; Ibanez (Normal), Ibanez Premium and Ibanez Prestige. The Ibanez GIO Series is a budget guitar series produced by Hoshino Gakki (Ibanez), replacing the Cimar line. The GIO guitars are a "budget" model line similar to Fender's Squier guitars and Gibson's Epiphone line. Unlike those particular budget lines however, these are produced as fully Ibanez branded, with a GIO logo above the standard Ibanez logo to indicate the series. This series of guitars were produced in either China or Indonesia, depending on model. The GIO series does not involve a single model or shape, but is a label of affordable products issued by Ibanez.

Various Ibanez guitar series have GIO variants, for example, the GRG models based on the RG series and the GSA models based on the SA series. These are usually the most affordable of that series. Some series have been issued under the GIO label exclusively at some point in time, for example, the RX (as GRX) and AX (as GAX) series.

In terms of specifications, most GIO models differ from their non-GIO counterparts to them more cost-efficient to produce and ultimately make them more affordable. Common differences include the use of cheaper hardware and electronic components, other bodywood and a slightly different overall shape.

Gio Normal Premium Prestige

2.8 BRAND IMAGE AND IMPLICATION

Being as a well-known brand in musical instrument industry, but lack of “live” exposure and advertisement, consumer are not fully aware of their latest products, their changing of guitar-series, newly added features and etcetera. For beginners, they perceived Ibanez’s guitars as a “mid-range or semi-pro and above” level. With the lack of exposure of Ibanez’s product, consumer or player having just “online” that serves as their information-centre for Ibanez’s products.


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2.9 STRENGTH AND WEAKNESS

Strength• “Best brand in price and quality relation”.• Ibanez Gio has a “Mikro”- size electric guitar and basses.• Ibanez seen and voted as a top brand. (No.3 in Top 10 Guitar brand, behind Gibson and Fender).• More and more new designs on Ibanez Gio – more choices for beginners.• Has a great action, is easy to play and very durable.

Weakness• No product trade show.• No Ibanez-owned music store.• Beginners tends more to buy Yamaha Guitar due to the perception of Ibanez is a more to mid-range/semi-pro and above level type of product. • Not much exposure about Ibanez’s “beginner-level/budget series” product; “Ibanez GIO• Lack of promotion via media such as television or radio.


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2.10 ADVANTAGES AND DISADVANTAGES

Advantages• Best guitar for the price paid.• Fast thin neck.• Metal-look kind of electric guitars.• Very versatile instruments• ‘Mikro’-size electric guitar and basses suits for beginners with small physical.

- Ibanez’s guitars has a fast and thin neck that is good for shredding and fast playing and considering the price and the quality, it is ‘the- best-bang-for-the-bucks’.

- Having a ‘Mikro’-size electric guitar and basses where other brand

does not.

Disadvantages• Ibanez don't have nice models of unconvensional shapes, like V shapes• Some player doesn’t like the ‘Fast thin neck’ features.• Ibanez Gio does not have models with maple fretboard

2.11 UNIQUE SELLING PROPOSITION


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2.12 PROMOTIONAL HISTORY AND ADVERTISING SCHEDULE

- Ibanez Gio currently does not have any promotional history and advertising schedule, but Ibanez had a Promtional and Advertising history on other products or as a whole Ibanez

Bentley Music


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- Ibanez Gio products is a quality yet not pricey that is targeted to beginners or even semi-pro, especially for those on tight budget.

2.13 POSITIONING STATEMENT

CHAPTER 3t h e c o m p a n y

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3.1 COMPANY OVERVIEW - Hoshino Gakki is a musical instrument company based in Nagoya, Aichi, Japan. Hoshino Gakki has been enabling strumming and drumming for almost 100 years. Founded in 1908 as a musical instrument sales division of Hoshino Shoten (bookstores). Hoshino Gakki is one of the first Japanese musical instrument companies to gain a significant foothold in the United States and Europe. It is the owner of the Ibanez guitar and Tama drums brand names. Hoshino Gakki has offices in the Netherlands, Germany, and Taiwan, as well as in California and Pennsylvania. The company's US subsidiary, Hoshino (U.S.A.), has been serving the American market for about four decades.

3.2 BUSINESS DESCRIPTION - Exporting & Importing Musical Instruments (Guitars, Percussion, Electronics & Accessories), Designing Products, Researching Markets (Oversea Project), Manufacturing Percussion Instruments & Accessories. - HOSHINO GAKKI CO., LTD

- Domestic Sales of Musical Instruments (Guitars, Percussion, Electronics & Accessories) - HOSHINO GAKKI HANBAI CO., LTD.

- Wholesale for Musical Instruments (Percussion, Guitars, Electronics and Accessories) and Market Research - HOSHINO (U.S.A.) INC.

- Wholesale for Musical Instruments (Percussion, Guitars, Electronics and Accessories) - HOSHINO BENELUX B.V.

- Manufacturing of Percussion Instruments & Accessories - GUANGZHOU HOSHINO GAKKI MFG. CO., LTD.

- Trading Business for Musical Instruments (Percussion, Guitars, Electronics and Accessories) -GUANGZHOU HOSHINO GAKKI TRADING CO., LTD.


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3.3 COMPANY HISTORY - Hoshino Gakki Co. Ltd. is best known for its two world-famous brands of musical products: Ibanez guitars and Tama drums. Both brands number among the best-selling and most-respected in their categories, although Hoshino itself manufactures only the Tama drum line through its Hoshino Gakki Hanbai and Hoshino Gakki Manufacturing subsidiaries. For the Ibanez brand, Hoshino provides research, design, and prototype construction support, while also handling worldwide distribution operations. Production of the wide range of Ibanez models is contracted out to third-party manufacturers, including Hoshino's primary and long-time partner in Japan, Fuji-Gen Gakki, which also produces guitars for Fender (notably the Squier line) and domestic brand Greco, as well as products for the Roland and Casio brands. Since the 1990s, Hoshino has contracted a growing portion of its guitar production to manufacturers in Korea and China. The company's U.S. subsidiary also produces custom-built and prototype guitars for the company's star endorsers. That subsidiary was also a partner in designing the theme restaurant On Stage Cleveland in partnership with the Rock and Roll Museum and HMSHost. The restaurant opened in 2001. The company has additionally stepped up its distribution presence in Europe, acquiring Serlui BV of the Netherlands, in 2002. Hoshino is led by Yoshihiro Hoshino, grandson of the private company's founder. In 2001, Hoshino total operations posted sales of approximately ¥20.68 billion ($175 million).


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3.3 COMPANY HISTORY

3.4 KEY PEOPLE

- YOSHIHIRO HOSHINO Chairman

- Toshitsugu Tanaka President of Hoshino Gakki Co., Ltd. .

- Shinichi Kubo President of Hoshino Gakki Hanbai Co Ltd., a subsidiary of Hoshino Gakki Co., Ltd.

- Kimihide Hoshino President of Hoshino Gakki Mfg Co Ltd. of Hoshino Gakki Co., Ltd.

- Kohki Hoshino President of Hoshino Benelux B V for Hoshino Gakki Co., Ltd.

- Toru Kawamoto President of Guangzhou Hoshino Gakki Mfg Co Ltd. at Hoshino Gakki Co., Ltd. - Bill Reim President of Hoshino USA Inc., a subsidiary of Hoshino Gakki Co., Ltd. Mr. Reim served as a Director of National Association Of Music Merchants Inc.


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3.5 LOCATION AND SUBSIDIARIES


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BENTLEY MUSIC BUKIT BINTANG140 & 142 JALAN BUKIT BINTANG 55100 KUALA LUMPURTEL. +603 2144 3333FAX.+603 2148 0129WEBSITE: WWW.BENTLEYMUSIC.COMMAIL: [email protected]

BENTLEY MUSIC MUTIARA DAMANSARAWISMA BENTLEY MUSIC 3, JALAN PJU 7/2, MUTIARA DAMANSARA, 47810 PETALING JAYA, SELANGORTEL. +603 7727 3333FAX.+603 7726 3328WEBSITE: WWW.BENTLEYMUSIC.COMMAIL: [email protected]

Headquaters

Others

HOSHINO GAKKI CO., LTD.No.22, 3-CHOME,SHUMOKU-CHO, HIGASHI-KU, NAGOYA, 461-8717, JAPANTELEPHONE : (052)931-0381FAX (052)932-2684

HOSHINO (U.S.A.) INC.1726 WINCHESTER RD., BENSALEM, PA, 19020 U.S.A.TELEPHONE (215)638-8670FAX (215)245-8583

HOSHINO BENELUX B.V.J.N.WAGENAARWEG 9, 1422 AK UITHOORN, NETHERLANDSTELEPHONE (0297)567788

Since Hoshino Gakki doesn’t have any representative in Malaysia, Bentley Music are the recognized distributor and retailer for Ibanez :

3.6 BRANDS, MAJOR PRODUCTS AND SERVICES


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Hoshino Gakki is fully responsible for Ibanez and Tama products. The company handles the Ibanez and Tama production and sales, Market Research as well as subsidiary.

3.7 CORPORATE VISIONTo be as a leading instrument maker in musical instrument products.

3.8 CORPORATE MISSIONIbanez strives to make high quality, cutting edge musical instruments that any musician can afford and enjoy.

3.9 COMPANY’S CURRENT PROMOTIONAL STRATEGY

NAMM SHOW 2012, Anaheim, California - This is when Ibanez unveils their 28 new electric guitars.

FRANKFURT MUSIK MESSE, March 2012- unveiling the 25th anniversary Ibanez’s guitar

Official information was not available; it is stated as private and confidential. However the information i manage to obtain was the sales is static.

3.10 PRODUCT SALES HISTORY

December 2010

Sales

Time

December 2011


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3.11 CURRENT MARKETING OBJECTIVE

3.12 MEDIA EXPENDITURE

• To accelerate further development in the overseas markets.• To be maintain at the top 3 of guitar brand product• Expanding more Ibanez and Tama products• Extend Ibanez endorsement activity

Exact figure is not available ; it is stated as private and confidential. From the observation, mostly are from Below the Line media such as flyers and Above the line such as magazine ads.

3.10.1 Long term

• Increase Ibanez Gio product’s awareness

3.10.2 Short term

CHAPTER 4consumer and stakeholders

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4.1 CURRENT CONSUMER’S CHARACTERISTICS

4.1.1 DEMOGRAPHICS

Age : 8-25 years old

Gender : Male

Education : High School and above

Occupation : Students and Working Teenagers

Income Range : Students (Allowance: RM 600 and above)

Workers (Salary: RM1000 and above)

Race and Ethnicity : All races and ethnicity

Geographical Location : Urban

4.1.2 PSYCHOGRAPHICS

Perception: Enjoys Music, playing music instruments, attending music lesson, no big budget to spend for guitar

Learning : Friends, Family, Online-video streaming (youtube), Magazines.

Motivation & Needs : High quality music instrument with affordable price.

Attitude & Personality : Outgoing, High musical-influenced.

Lifestyle : Musician, Guitar-hobbyist.


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4.2 STAKEHOLDERS CHARACTERISTICS

4.2.1 PRIMARY STAKEHOLDERS

• Chairman : YOSHIHIRO HOSHINOSetting up company goals and supervising company development in collaboration with the board of directors. Played a vital role in the company’s strong reputation for innovative instruments and quality that they continue to enjoy today.

• Board of Directors : SHINICHI KUBO, BILL REIM, KOHKI HOSHINO, TORU KAWAMOTO, TOSHITSUGU TANAKA Directing the employees of the company to achieve organization goals.

• Bankers : The Bank of Tokyo-Mitsubishi UFJ, Ltd. (Nagoya business department), Mizuho Bank, Ltd. (Nagoya central branch)Responsible for establishing and maintaining positive customer relationships, planning and delivering effective sales strategies and monitoring the progress of new and existing financial products.

• Shareholders Investing money to the company in interest of a share on its profit.

• Employees Contributing to the company in cooperation with their directors, in exchange for the wages to support their live.

• Consumers Spending money for the goods produced by the company if they are in good quality or with a good branding, which contributes to the company revenue.

4.2.2 SECONDARY STAKEHOLDERS

• Media and JournalistSetting up company goals and supervising company development in collaboration with the board of directors.

• Distributors Aids the distribution of the goods produced while earning from the service provided.

• RetailersAids the selling of the goods product directly to customers

CHAPTER 5industry and marketplace

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5.1 THE INDUSTRY

Musical Instrument

Music

Strings instruments

Acoustic/Electric


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5.1.1 DEFINITION OF THE INDUSTRY

Musical instrument industry is production and business fo instruments. Those instrument encompasses a wide breadth of musical instruments, including the piano, organs, strings, wind instruments, percussion, and keyboard. Most company that manufacture instruments usually do not just selling one type of product. For instance, Hoshino Gakki - they are the manufacturer of guitar brand ; ibanez as well as percussion or drum instrument which is called TAMA. Other company also did enlarge their business by taking over or by buying the whole rights of other brand. For instance a guitar brand Jackson that is owned by Fender Musical Instrument Corporation. Musical instrument usually was distributed by other company that also acts as a retailer. As company did not manufacture the instrument and sell it out right around.


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5.1.2 SHAPE OF THE INDUSTRY

At one time, the ability to play a musical instrument was considered an essential part of a person's basic education. By the 2000s, however, electronic diversions like music-playback machines and video games, including the popular Guitar Hero and Rock Band series, made the effort of mastering an actual musical instrument somewhat less appealing. Nevertheless, more than 60 million musicians resided in the United States. According to the U.S. Census Bureau, musical instrument manufacturers shipped approximately $1.8 billion in products in 2008, a figure that had remained fairly stable since the early 2000s.

As part of the personal consumer durables category, musical instrument purchases depend greatly on consumer confidence. Such purchases are made with disposable personal income. In addition, in times of recession, discretionary spending for school bands and orchestras, personal music lessons, and high-end instruments become the first casualties of stripped down budgets. Reflecting a strong economy and low unemployment, production of acoustic pianos and school instruments decreased in the early 2000s, gained ground in the mid-2000s, then declined again with the economic recession of the late 2000s. By 2010, industry experts were looking for an upturn that coincided with the recovery of the economy.

In 20009, 1,800 establishments employed 17,500 workers in the manufacture of musical instruments in the United States. Total industry sales reached $1.3 billion in 2009. Massachusetts, California, and New York accounted for highest percentage of sales, with 33 percent, 16 percent, and 14 percent, respectively. California and New York also accounted for the most workers in the industry, with 3,663 and 3,090, respectively, followed by Pennsylvania (1,163), Ohio (1,060), and Mississippi (1,019).

5.1.3 DEVELOPMENT OF THE INDUSTRY

Domestic Production has Decreased Sharply. Mostly the production has been shifted abroad. U.S musical instrument manufacturing has decreased in the past five years. Unit production has been down an estimated average of 4 percent per year. Their production has been down most sharply for traditional pianos. Many U.S. manufacturers have moved production abroad.

U.S. musical instrument manufacturers have consolidated operations and merged manufacturing facilities with distribution networks. In the past several years, eight of the largest music companies – the so-called Global 225 – have merged or consolidated with other music manufacturers.

Musical instrument manufacturers increasingly struggle with a lack of consumer interest in learning an instrument – particularly band and classical instruments. To boost sales, manufacturers are experimenting with new marketing and sales techniques, including price breaks if schools promise to use their products exclusively, direct-to consumer Internet sales, and endorsements from famous musicians.


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Musical instrument industry was growing like there is no ending. With more and more evolution of music, companies need to come out with new technolgy and new effects. With huge genre of music, musical instrument comes in variety of selection that suits their genres. For instances, in the world of electric guitars, they are incalculable number of stompbox effects or multi-effects. From normal overdrive effects to more heavy and heavier distortion. Not to mention other effects such as reverb, delay, tremolo and etcetera. With number of bands blooming vastly, music is blooming too.

Other than that many companies offer a low, medium, and high-end version of an instrument type. This wide range of quality and craftsmanship results in high variation in pricing for consumers. Domestically produced pianos can cost as little as $2,000 for a basic upright to $150,000 for a limited edition grand piano. Band instruments can range from $200 for student versions to $25,000 for specialized instruments for professional artists. This is one of the main development of the industry.

Lower-cost instruments are often made on assembly lines, while higher-quality instruments are produced at clusters of workstations. This leads to more and more expenditure of workstations area thus evolving the company revenue. As conclusion, music is a subjective and evolving throughout the years. Evolution of music relates and affects the industry of musical instrument.


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5.2.1 THE MARKET PLACE

5.2.1 CURRENT MARKET CONDITION

The industry felt the impact of the recessionary conditions of 2008/2009 in a material way. With the exception of accessories, where sales were virtually even with 2008, all categories reported in this report registered declines in sales. The industry experienced the decline in revenues largely due to recessionary conditions as consumers opted to curtail expenditures related to the leisure aspects of their lives. drop in revenues in the music industry was not materially different than declines in other sectors of the leisure economy.

Those companies that did exhibit revenue growth months have largely been smaller, more agile privately held or publicly traded companies. Larger companies that spent time “digesting” acquisitions have not grown at a pace as rapid as smaller players who are more focused on organic growth rather than growth through external means. M&A activity in the sector declined relative to historical levels, consistent with the general decline in M&A activity. There were certain significant M&A transactions that occurred but in the aggregate, activity was curtailed. Capital markets activity for publicly traded companies was non-existent over the past 12-18 months. This occurred as investors have stepped back from public capital markets activity overall, making access to public markets for growth capital or to replace debt capital difficult to obtain. The trend toward non-domestic manufacturing has accelerated as 2009 was the �fth year in a row where production in the U.S. declined and manufacturing abroad increased.

Based on MainStream report, it is believes that this trend will continue for the foreseeable future. Electronic and non-classic equipment continues to grab market share due to the attractive up-front and maintenance cost elements of these purchases. With schools and churches, for instance, facing funding pressures, the opportunity to purchase electronic equipment that will not face the ongoing maintenance costs of more traditional equipment is an attractive selling feature in today’s economy. Notwithstanding the decline in sales activity in 2008/2009, the industry is expected to grow at a compounded annual rate (CAGR) of 3% from 2010 through 2013.

Domestic Production has Decreased Sharply. Mostly the production has been shifted abroad. U.S musical instrument manufacturing has decreased in the past five years. Unit production has been down an estimated average of 4 percent per year. Their production has been down most sharply for traditional pianos. Many U.S. manufacturers have moved production abroad.

U.S. musical instrument manufacturers have consolidated operations and merged manufacturing facilities with distribution networks. In the past several years, eight of the largest music companies – the so-called Global 225 – have merged or consolidated with other music manufacturers.

Musical instrument manufacturers increasingly struggle with a lack of consumer interest in learning an instrument – particularly band and classical instruments. To boost sales, manufacturers are experimenting with new marketing and sales techniques, including price breaks if schools promise to use their products exclusively, direct-to consumer Internet sales, and endorsements from famous musicians.


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5.2.1 THE MARKET PLACE

5.2.2 CHANGES IN MARKET PLACE

• NegativeDomestic Production has Decreased Sharply, Production being Shifted Abroad U.S. musical instrument manufacturing has decreased in the past five years. Unit production has been down an estimated average of 4 percent per year. Production has been down most sharply for traditional pianos. Many U.S. manufacturers have moved production abroad.

• PositiveConsolidationU.S. musical instrument manufacturers have consolidated operations and merged manufacturing facilities with distribution networks. In the past several years, eight of the largest music companies – the so- called Global 225 – have merged or consolidated with other music manufacturers.

Manufacturers Rely Increasingly on New Marketing & Sales Techniques Musical instrument manufacturers increasingly struggle with a lack of consumer interest in learning an instrument – particularly band and classical instruments. To boost sales, manufacturers are experimenting with new marketing and sales techniques, including price breaks if schools promise to use their products exclusively, direct-to consumer Internet sales, and endorsements from famous musicians.

CHAPTER 6compet i t i ve s i t ua t i on

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6.1 DIRECT COMPETITORS

YAMAHA

YAMAHA is one of Ibanez Gio’s biggest competitors. YAMAHA MUSIC is under YAMAHA Corporation which predominantly sells musical instruments. Since 1887, when it began producing reed organs, the Yamaha Corporation in Japan (then Nippon Gakki Co., Ltd.) has grown to become the world's largest manufacturer of a full line of musical instruments, and a leading producer of audio/visual products, semiconductors and other computer related products, sporting goods, home appliances and furniture, specialty metals, machine tools, and industrial robots.

Yamaha now owns 94 subsidiaries and representative offices in overseas markets in addition to numerous related companies in Japan. Having a wide range of products and services such as Music Education ; Yamaha Music School and Yamaha Academy of Arts and Music, Yamaha carries a big character in music industry in Malaysia.

Strengths : • Established brand and having countless of outlets in Malaysia.• Music Education : Begginers directly exposed to YAMAHA guitars.

Weakness : • Not many design/model for electric guitars and basses• No mikro-size electric guitar and basses


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Squier

Squier is a musical instrument brand name owned by the Fender Musical Instruments Corporation. It’s a lower-grade version of Fender Guitars. With famous model such as stratocaster and telecaster, Squier are one of the look-out brand for beginners and those on tight budget. Squier guitars are made in USA, Korea, China, Japan, or even Indonesia. Those made from USA and Japan have a higher quality and price. Their electric guitar price range are from RM 600 to RM 2000 (depending on the models)

Weakness : • No models that looks “metal”

Strengths : • Famous strat and tele shape• Have artist signature model : Avril Lavigne, Deryck Whibley (Sum 41), Mike Dirnt (Greenday) and Malaysian guitarist Sham (Kamikaze)• Have a smaller size guitar (Mikro size)• Signature “Fender” sound


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Epiphone

The Epiphone Company is a musical instrument manufacturer founded in 1873 by Anastasios Stathopoulos. Epiphone was bought by Chicago Musical Instrument Company, which also owned Gibson Guitar Corporation, in 1957. Epiphone was Gibson's main rival in the archtop market. Aside from their guitars, Epiphone also made upright basses, banjos, and other stringed instruments. Epiphone guitars are made in Korea, China, Japan, or even Indonesia. Those made from Japan have a higher quality and price. Epiphone is now a subsidiary of Gibson. Because of this subsidiary relationship, many of the instruments look the same as the more expensive Gibson versions. However Epiphone still maintains its own line of archtop guitars. Their electric guitar price range are from RM 800 to RM 11000 (depending on the models).

Strengths : • Famous Les-Paul and SG shape• Have artist signature model : Zakk Wylde, Rob Flynn• Wider range models

Weakness : • Hardly any Epiphone basses here in Malaysia• No mikro-size electric guitar and basses• Their package product is the priciest of all competitors• Most people will rather buy a Gibson rather than Epiphone models that cost more than RM4000• Their lowest price electric guitar still the priciest from other competitors


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6.2 INDIRECT COMPETITORS

Cort

Cort Guitars is a guitar manufacturer centered in South Korea. The company is one of the largest guitar makers in the world, and produces instruments for many other companies. Cort does not have a model of guitar that could be called their “signature,” like Fender and the Stratocaster or Gibson and the Les Paul. Instead, Cort produces a very large line of guitars to fit different guitarists and genres of music. Cort produces a wide variety of electric guitars, acoustic guitars, acoustic bass guitars, and electric basses, with the main emphasis being on producing a good product at a competitive price. Their electric guitar price range are from RM 700 to RM 6500 (depending on the models)

Strengths : • Have artist signature model : Gene Simmons (KISS), Mattias Jabs (Scorpions) • Wider price range : RM 700 - RM 2200

Weakness : • Less famous than other competitors• Low brand awareness• Issue with korean’s craftman quality


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LTD

LTD is a lower-end brand from ESP guitar similar to Epihone-Gibson and Squire-Fender. In 1995, LTD was created to produce ESP's high-quality products in a more affordable line of production and cater mainly for markets outside of Japan. LTD products are electric guitars and basses. . The LTD series are made out of cheaper materials and generally use cheaper hardware than the more upscale ESP models. Mainly LTD electric guitars are targeted for metal or heavy music.

Strengths : • Nice shapes and top• Lots of the model comes with flame maple top body.

Weakness : • Pricey• Most product range are mainly focus on Metal and heavy music style only


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KORG

Korg Corporation is a Japanese multinational corporation that manufactures electronic musical instruments, audio processors and guitar pedals, recording equipment, and electronic tuners. Under the Vox brand name, they also manufacture guitar amplifiers and electric guitars. In 1992, Korg acquired Vox, then primarily a manufacturer of guitar amplifiers. Korg was also the exclusive distributor of Marshall Amplification product in the U.S.A. for decades, with this distribution arrangement ending in 2010. KORG are well known for their keyboard and synthesizer.

Strengths : • Well known brand for keyboard,midi and synthesizers

Weakness : • Pricey


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CASIO

Casio Computer Co., Ltd. is a multinational electronics manufacturing company headquartered in Shibuya, Tokyo, Japan. Its products include calculators, mobile phones, cameras, musical instruments and watches. It was founded in 1946, and in 1957 released the world's first entirely electric compact calculator.

Strengths : • For musical instruments, they are known for their Keyboards.• Cheaper price keyboard than KORG or Roland.• Do have a mini-size keyboard

Weakness : • Known for as a ‘calculator’ and digital watch company, not many people know about their music instrument product.

CHAPTER 7s w o t a n a l y s i s

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CHAPTER 7s w o t a n a l y s i s

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7.0 SWOT ANALYSIS

WeaknessStrengths

ThreatsOpportunities

• Product seen as “Best brand in price and quality relation”.• Ibanez Gio have a “Mikro-size” guitar and bass.• Thin-flat neck; ideal for fast playing or shredders.• Not as pricey Ltd or Epiphone.• Ibanez Gio models comes with a floating bridge system (RG & RGA series)

• Ibanez Gio does not have models with maple fretboard.• Ibanez don't have nice models of unconvensional shapes, like V shapes• Not much exposure about Ibanez’s “beginner-level/budget series” product; “Ibanez GIO

• Bad perception on Ibanez Gio products that made in China.• Perception of “ibanez is a semi-pro and above’ product.

• Ideal for a beginners that looking for a decent guitar with tight budget.• Ideal for fast playing or shredding.• Suits for player that looking for a ‘Metal’ look guitar• Ideal for player that needs 24 frets• Ideal for player that need a ‘back-up guitar’ that dont want to spend much just for a back-up ones.

CHAPTER 8strategic target audience

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CHAPTER 8strategic target audience

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8.0 STRATEGIC TARGET AUDIENCE

8.1.1 DEMOGRAPHICS

Age : 18-25 years old

Gender : Male

Education : High School, College/University, Post-graduate

Occupation : Students and Working Teenagers

Income Range : Students (Allowance: RM 800 and above)

Workers (Salary: RM1200 and above)

Race and Ethnicity : All races and ethnicity

Geographical Location : Urban

4.1.2 PSYCHOGRAPHICS

Perception: Enjoys Music, playing music instruments, attending music lesson, no big budget to spend for guitar. For higher level guitarist that seeks for a ‘back-up’ guitar for their live perfomance.

Learning : Friends, Family, Online-video streaming (youtube), Magazines.

Motivation & Needs : High quality music instrument with affordable price.

Attitude & Personality : Outgoing, High musical-influenced.

Lifestyle : Musician, Guitar-hobbyist.

CHAPTER 9research & developments

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9.1 MARKETPLACE RESEARCH

Wisma Bentley Music, Head Office & Showroom

Located at the heart of Mutiara Damansara just next to IKEA. This is the Headquaters of Bentley Music, having another one at Bukit Bintang. The whole building is owned by Bentley Music. Not just having a showroom but as well an auditorium for events. As Bentley Music is recognized by Ibanez - having put the Bentley Music under ‘contact us’ on their website, a visit and research in here is a must. Bentley Music has a long history in the music business in Malaysia and is associated with some of the most recognised brands in music. As the leading musical instrument and sound reinforcement distributor and retailer since 1975, we've built up a formidable reputation as the largest importer and sole distributor of some of the world's top instrument brands in the country.


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Wisma Bentley Music, Head Office & Showroom

Entrance of the showroom section at 3rd floor of the building.


49 |


Electric Guitar section

The entrance of Ibanez electric guitar section. Faces of Ibanez users such as Steve Vai (right picture) was used primarily on entire Ibanez section.

Inside of the electric guitar section.


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Inside of the electric guitar section.


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Ibanez stompbox effects and the Legendary Tubescreamer. Ibanez Jumpstart package next to it (Blue box).


52 |



Numbers of Ibanez Gio electric guitars. The bottom image shown are the RG Series.Some price tags having a orange/red dot which act as a discount label on their selected guitars.


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Electric Guitar section - Ibanez Gio


54 |


Electric Guitar section - Ibanez Gio

Ibanez Gio logoon the headstock

Inside of the bass section.


55 |


Bass section - Ibanez Gio

Ibanez Gio

Ibanez Gio


56 |


Bass section - Ibanez Gio

Ibanez Gio logoon the headstock


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9.2 MARKET OBSERVATION

Apart from observing product price and placement, i observed the market of each competitor brand too. Following are the findings:

Ibanez Gio

Ltd

Squier

Epiphone

Yamaha

Bentley MusicDamansara

Bentley MusicBukit Bintang

11 a.m - 11.30 a.m 12 p.m - 12.30 p.m

1

1

1

0

0

3

2

1

1

0


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9.3 ONLINE SURVEY

9.3.1 SURVEY RESULTS

QUESTION 1

The online survey was conducted from 16th to 20th of July 2012, with a total of 25 participants. This survey is very targeted. Its aims is to analysis and investigate people perception towards electric guitar and bass brands. This survey only focuses to those who play electic guitar or basses. This to ensure they have experienced on buying their first instrument back when they are starting to play.

FemaleMale

Please tell me your gender :20

5

20 out of 25are male


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QUESTION 2

QUESTION 3

25 and Above

23-25

21-22

18-20

15-17

Please tell me your agegroup :

25

14

3

1

56%are between the

age of 21-22

80%are College/

Universitystudents

What is youreducation level?

Post Graduate

College/University

High School

14

20

52%having allowance/

income belowRM1000


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QUESTION 4

QUESTION 5

0 5 10 15 20 25

Below 1000

RM1001-RM1500

RM1501-RM2000

RM2001-RM2500

RM2501-RM3000

RM 3000 and above

1362211

What is your income range/allowance per month?

Which of these instrument(s) you have?

Guitar Bass Both

22 1 2

8%participants owns

both electricguitar and bass

32%participants spentless than RM600

on their first instrument

56%participants play

metal-related music

0 5 10 15 20 25

Above RM1600

RM1401-RM1600

RM1201-RM1400

RM1001-RM1200

RM801-RM1000

RM601-RM800

Below RM6004 8 5 3 2 21

How much did you spent for your first electric guitar/bass?

What kind of music you play?


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QUESTION 6

QUESTION 7

Others

Country, Jazz & Related

Rock, Blues Rock, & Related

Metal,Heavy metal,and related14

7

13

20%participants havebeen playing for

more than 6 years

88%participants was

self-taught

How many years total haveyou been playing guitar?

How did you learnto play guitar?


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QUESTION 8

QUESTION 9

More than6 years

5-6 Years 3-4 Years

1-2 Years

12345678

Just Started (below 6 Month)

A little of Both

Self-Taught

Professional Lesson

22

2

1

32%participants chose

Ibanez for their firstguitar/bass

32%participants chose

because of thesound

What is your firstelectric guitar/bass

brand?

Based on question 10, What is the main reason you chose that brand?


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QUESTION 10

QUESTION 11

Others

LTD

Epiphone

Squier

Ibanez

Yamaha

Others

Sound

Playability

Brand

Price

Design

8

6

2

2

4

8

3

6

61

2

2

64%participants knows

about Ibanez Gioproduct-line


about Ibanez Gioby visiting music store

Do you know about Ibanez's budget series product-line ; Ibanez Gio?

Visited Music Store

Online Media

Friends

8

5

3


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QUESTION 12

QUESTION 13

02468

101214161820

YesNo

How did you knowabout Ibanez Gio?


about Ibanez Gioby visiting music store



QUESTION 14

QUESTION 15

What do you think of Ibanez Gio electric guitar/basscompared to the close competitors such

as Squier, Epiphone, LTD, Cort and Yamaha?

Do you own any Ibanez Gio?02468

101214161820

YesNo

• nothing different

• best price paid• Produce good sounds in affordable price

• Has a tad bit of slicker design and sharper sound. Prone towards metal music.

• It is pretty versatile.

• After watching a few reviews of the guitar , I �nd that it's quite good for a affordable guitar. However, it lacks of the classic signature sound like the Fender or the Squier series which I really love.

• This is the �rst I've heard of electric guitars sold with a budget price. I think this is an advantage compared to other competitors, especially for youths who cant afford expensive

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What is your favorite electric guitar brand?

10

0

2

3

6

4

9.4.1 Meet up in person


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9.4 INTERVIEW

I have interviewed the Business Development Director Bentley Music Sdn Bhd ; Mr Lewis Hooper. He declined to be photographed. This interview with him was just within a short time as he was busy and about to having meeting.

Questions Answers

What is the main rival for Ibanez Gio here in Bentley Music? Do you think Squier or Epiphone?

What did the peoples who bought and choses Ibanez Gio said about Ibanez Gio? Any reviews or comments?

What do you think of Yamaha guitar for beginners?

Any past promotional and advertising for Ibanez Gio? As well the media expenditure for Ibanez Gio’s?

Well we dont really collect any reviews or comments. You can just search it online for reviews.

Well Yamaha have a decent acoustic guitar for beginners, but for electric guitar it’s not that much and i think the lower range of Yamaha is pricey.

Yes we have done quite number of promotion on Ibanez Gio. More like 20-40% discounts. About the expenditure, well i cannot tell you that. It’s private and confidential.

Tell me more about Ibanez Gio and what do you think about Ibanez Gio?

Ibanez Gio is a budget series instruments consists of electric guitar and bass. Mostly been an ideal choice for beginners. My thoughts on Ibanez Gio is they are quiet decent for the price. Back then when they first introduced the Gio’s around 2000’s, the quality was total different with what they currently produced.

No, the main rival or competitors for Ibanez Gio should be LTD because it is more prone towards metal and heavy genres. People who just started that plays metal music hardly chooses

Questions Answers

How would you describe the sales of Ibanez Gio over the couples of year?

Do you guys have any plan on doing any trade show of Ibanez? Or maybe like another on-ground activation like Ibanez guitar clinic and etcetera?

The sales of Ibanez Gio are standard and mantain on the same par or maybe slightly increased. I cannot provide further details because it is P&C.

For time being, we have no plan on doing that since we just have Ibanez Clinic from Francesco Artusato last May.


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9.4 INTERVIEW

CHAPTER 10p r e c e d e n t s t u d i e s

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On Ground Activation / Exhibition

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10.1 - ADVERTISING STRATEGY

Ibanez exhibition booth and product tradeshow.

Clinics & Events

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Ibanez Guitar Clinic from Francesco Artusato (All Shall

Perish) @ Bentley Music

Ibanez Guitar Clinic from Tosin Abasi (Animal as

Leaders)

Ibanez Guitar Clinic from Herman Li (DragonForce)

@ Bentley Music

Metal Hardcore Festival

Ibanez RGA 8-Strings MESHUGGAH contest Rocking Holiday Giveaway Contest

Joe Satriani Contest - Sponsored by Ibanez

Mayhem Festival Ticket GiveawayContest by Ibanez

Contest

72 |



73 |


10.1 PRECEDENT STUDIES

unofficial video commercial

http://www.youtube.com/watch?v=KykbxEz2UuY

https://vimeo.com/45010825

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Marshall Fridge

Introducing the MARSHALL FRIDGEhttp://www.youtube.com/watch?v=67EovwvJrC0

posters / flyers

75 |



posters / flyers

76 |



Gibson

77 |



Fender

78 |



The usage of vehicle

79 |



On Ground Events

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Others

81 |



Using social network

Guitar Contest

Free Gift - Items

Others

82 |



Usage of QR code

Using Youtube for contest

Usage of QR code

CHAPTER 11r e f e r e n c e s

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11. REFERENCES

Ibanez Official Site. (n.d) Asian regionhttp://www.ibanez.co.jp/asia/

Ibanez Wiki.(n.d). History of Hoshino Gakkihttp://ibanez.wikia.com/wiki/Hoshino_Gakki

Aichi Quality.(n.d). Hoshino Gakkihttp://www.aichi-brand.jp/corporate/type/miscellaneous/hoshi-no-gakki-e.html

The Top Tens.(n.d). Best Guitar Brandhttp://www.the-top-tens.com/lists/best-guitar-brands.asp

Funding Universe.(2003). Hoshino Gakki Ltd Historyhttp://www.fundinguniverse.com/company-histories/hoshino-gak-ki-co-ltd-history/

Bloomberg Businessweek.(n.d).http://investing.businessweek.com/research/stocks/pri-vate/snapshot.asp?privcapId=5773595

Highbeam Business.(n.d). Musical Instrumenthttp://business.highbeam.com/industry-reports/food/musical-instruments

i-bands.(n.d). Deja Voodoo Spellshttp://www.i-bands.net/audiovault/bands/11/

Bentley Music.(n.d)http://www.bentleymusic.com/

Wikipedia.(n.d). Ibanez Giohttp://en.wikipedia.org/wiki/Ibanez_GIO


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11. REFERENCES

Ultimate Guitar. (n.d) Reviewshttp://www.ultimate-guitar.com/search.php?value=ibanez&-search_type=reviews

Music 123.(n.d). Ibanez Solid Body Electric Guitarhttp://www.music123.com/solid-body-electric-guitars#fT=2010:I-banez&gP=1&pS=20&v=g&sB=bS&lP=c&catId=site7AAG

Dead Eye Guitars.(n.d).http://deadeyeguitars.blogspot.com/

JL Guitar Collection.(n.d).http://jlguitarcollection.blogspot.com/

Phil Hudson.(n.d). B2B: Direct vs Indirect Distributionhttp://www.phil-hudson.com/b2b-direct-vs-indirect-distribution/

Chron.(n.d). Differences Between Wholesalers, Distributors and Retailershttp://smallbusiness.chron.com/differences-between-wholesal-ers-distributors-retailers-30836.html

Forum Lowyat.(n.d). Do malaysia need events like NAMM?http://forum.lowyat.net/topic/1050973/all

C&M Music Centre Sdn Bhd.(n.d). http://www.cmmusic.com.my/

Wikipedia.(n.d). Namm Showhttp://en.wikipedia.org/wiki/NAMM_Show

Yamaha Music Malaysia.(n.d). http://my.yamaha.com/


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11. REFERENCES

ESP Guitar. (n.d) Reviewshttp://www.espguitars.com/guitars.html

PenMachine.(2005). Buying a good, cheap electric guitarhttp://www.penmachine.com/musicpages/cheapguitar2005.html

Wikipedia.(n.d). Casiohttp://en.wikipedia.org/wiki/Casio

Fender.(n.d). Squierhttp://www.fender.com/en-MY/squier/

Epiphone.(n.d).http://www.epiphone.com/

Cort Guitars.(n.d). http://www.cortguitars.com/en/

About.com.(n.d). Top 5 Beginner Electric Guitarshttp://guitar.about.com/od/helpbuyingguitarsgear/tp/electricguitars.htm

Ultimate Guitar Forum.(2012). What was your first electric guitar?http://www.ultimate-guitar.com/forum/showthread.php?t=1536189

ZZ Sound.(n.d). Ibanez GRGM21 GIO Mikro Electric Guitarhttp://www.zzounds.com/item--IBAGRGM21

Youtube.(n.d). ibanez gio / nice playing beginners level guitarhttp://www.youtube.com/watch?v=0xQgX-zEK9E

CHAPTER 12a p p e n d i c e s

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situation analysis - ibanez gio

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