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Washburn Guitars

Washburn Guitars . By: Drew Prinsen, Justin Ross, and Connor Giblett. History. Began in Chicago in 1883 near Maxwell St. Which would later become the epicenter of American music, specifically the Delta Blues genre and Rock and Roll.

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Washburn Guitars

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  1. Washburn Guitars By: Drew Prinsen, Justin Ross, and Connor Giblett

  2. History • Began in Chicago in 1883 near Maxwell St. Which would later become the epicenter of American music, specifically the Delta Blues genre and Rock and Roll. • This was a result of a large influx of African Americans from the southern states. • They manufacture all kinds of guitars including: electric, acoustic, bass, banjos. They also make amps and other guitar equipment.

  3. History • Their guitars have become increasingly popular among extreme metal, hardcore punkand port-rock genres. • The modern Washburn Guitars was founded in 1977 as a small firm bought the rights to The Washburn name.

  4. The Products • Electric Guitars • Bass Guitars • Electric Guitars • Banjos • Amps • Mandolins • Replacement parts.

  5. Production • Until 1991, all Washburn Guitars were made in Asia, more specifically Japan. After that they switched production over to the U.S.A. for their specialty, custom guitars. The mass-produced guitars are still made in Asia.

  6. Endorsements • First guitar company to use endorsements. • They provide guitars for free to musicians on the condition: The musician endorses the product, and Washburn provides guitars that best suits the musician. • This works due to beginners wanting to copy their favourite musicians and therefore are willing to buy the same products.

  7. Market Segments Washburn Guitars has divided it product line into four categories for different market segments, they are: • One of a kind, custom instruments. • Batch custom instruments. (Signature Series) • Mass-produced instruments. • Mass-customized instruments.

  8. Competitors • Gibson • Fender • Miller • Eastman • Gretsch • Yamaha

  9. SWOT Analysis Strengths • Celeb endorsements. • Products are available to all skill groups, they offer cheap, learning guitars and more expensive pro-guitars. Weaknesses • Smaller company than many competitors. • No online store.

  10. Swot Analysis Threats • Many competitors • Recent Recession has made people shy away from unnecessary purchases. • Guitar Hero and RockBand becoming the new norm. Opportunities • Music is popular worldwide. • Open up an online store where you can buy guitars.

  11. Sales • At the time of the Washburn Guitars naming rights purchase, the current owner was only producing about 2,500 guitars a year that generated $300,000 in profit. • Today they produce 40,000 guitars with revenues of over $40 million.

  12. Pricing Issues • Washburn has to remain competitive and therefore pricing remains a constant issue. • In order to help with this, they use endorsements, and name guitars after musicians who use them to further advertise and endorse their products. • They constantly seek ways to look for cost savings. Ex: They recently purchased Parker Guitars, and they will combine production facilities, lowering variable costs.

  13. Musicians Some musicians who use or have used Washburn Guitars include: Bob Dylan, Dolly Parton, Greg Allman, the late George Harrison of the Beatles, Mike Kennerty of the All American Rejects, Rick Savage of Def Leopard, Hugh McDonald of Bon Jovi, Paul Stanley of KISS, and Dan Donegan of Disturbed just to name a few.

  14. Signature Guitars • The Signature Guitars made by Washburn are guitars that Washburn makes that have been designed and named after their respective musicians. This include Paul Stanley, George Lynch, Greg Tribett and several others.

  15. Reviews • Washburn Guitars posts reviews for each product they make that are made by independent sources that are non-biased and provide fully truthful information, something many companies still not do. http://www.washburn.com/news-and-reviews/reviews/

  16. Washburn Radio • On their website, Washburn has a “radio” that plays a random selection of 22 songs that use Washburn Guitars in them. The radio is available to anyone who visits the site. It also provides reviews and lessons.

  17. Washburn TV • Also on their site, Washburn has a channel that plays videos of clips from shows of musicians using Washburn Guitars such as American Idol and Saturday Night Live.

  18. Dealers • Washburn guitars solely makes guitars and does not own any stores, and therefore sells its guitars through dealers. You also cannot buy them online.

  19. Questions 1.Do you think it was a wise choice ford Washburn to sell their products solely through dealers? Why or why not? 2. Do you think it’s a good choice for Washburn to include several market segments, or should they just stick with one or two? Ex: Mass-Produced Instruments, one of kind instruments etc. 3. Do you think its smart for them to watch their break even points so closely?

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