The Guitar Center Traces Its Roots to 1959 When Wayne

question 67

Multiple Choice

The Guitar Center traces its roots to 1959 when Wayne Mitchell opened a home organ store in California. In 1964, the company began selling guitars and amplifiers and changed its name to the Guitar Center. The company added stores gradually and today is known as the largest musical instrument retailer in the world. The company continues to grow and maintains over 250 stores across the United States. According to their website, "Guitar Center is home to the world's largest selection of popular guitars, basses, amplifiers, keyboards, workstations, drums, percussion, microphones, PA systems, DJ equipment, stage lighting, recording software, studio gear and more." Assume that you are one of the brand managers for a line of products such as guitars or keyboards. Which of the following would be most important to you in assisting you to forecast sales and plan inventory levels for the chain of stores?

• A) consumers' discretionary income
• B) consumers' wealth
• C) consumers' debt
• D) consumers' disposable income

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Definitions:

Referent Power

A form of power that stems from being admired or respected, often because of personality, skills, or relationships.

Expert Power

The ability to influence others based on the perception of an individual's expertise or knowledge in a specific area.

Always The Boss

A phrase describing someone who consistently takes charge or behaves in an authoritative way in various situations.

Career Advancement

The process of moving up in one's profession, typically marked by increased responsibility, higher pay, and improved benefits.