The electric guitar market is both tempting and overwhelming for a small business, a multi-billion dollar industry that has grown almost constantly since the 1960s, but where the competition is based on both image and substance. The market is naturally fragmented (similar to the market for many musical instruments), but dominant players make it difficult to enter the market and earn a living. While Asian manufacturers or branded imports dominate the low and mid price market, collectors and serious gamers are looking for high quality branded or handcrafted instruments that can be resold with little loss. In order to increase collector’s value, high-end guitar makers constantly modify components and produce small series with unique properties (often indicated by “musicians by name” and sold under their name). With established brands, vintage instruments, and handcrafted instruments, used guitars can be sold for the original purchase price or a surprising multiple thereof; the value of some parts increases after just ten years. With this in mind, seasoned buyers can buy essentially risk-free. The case tells the story of Joe Naylor, owner and CEO of Reverend Guitars, a small company that, through clever use of innovative products, innovative marketing, and innovative use of the Internet, had an astonishing impact on the guitar market. electrical. ) an existing community and b) the construction of a new one.
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