Solutions for Musical Products Manufacturers
The rapid shifts in technology and manufacturing locations in the musical products industry these days makes knowing the details of market activity more crucial than ever. Manufacturers know what their own sales are, and can perhaps learn how they are doing at a few of their retailers, but they have limited ability to put that information into perspective. MI SalesTrak provides the only information that is accurate, comprehensive and unbiased by commercial considerations. As one manufacturer has said about our data, “It is the only information that is detailed enough to use and objective enough to trust.”
Manufacturers use MI SalesTrak for a variety of purposes. First and foremost, MI SalesTrak is used to capture a definitive view of where the company stands in the market, with the flexibility to ‘drill down’ to product category sub-segments. At last, companies have a tool to use for planning and for tracking their success.
MI SalesTrak is also used for inventory and production control. No matter how many are shipped, a product isn’t “sold” until it is purchased by the end user. By seeing what products are actually selling, and which are backing up at retail, manufacturers gain a vital window into their needs for the future, and can make adjustments designed to improve sales and profitability. This becomes even more important as overseas manufacturing requires longer lead times for product availability.
Finally, MI SalesTrak is a selling tool, a way to demonstrate to current and potential customers the success of a brand or model and the rationale for specific merchandising strategies. And because the information is from an independent third-party, issues of possible bias and misinterpretation are past history.
A subscription to MI SalesTrak includes monthly delivery of top-line charts, trend analyses, and detailed data tables, organized in logical formats. To learn more about how MI SalesTrak can help, click here.