After launching a new business model for selling car audio products last month, MTX said it has signed up hundreds of dealer storefronts for the program.
In addition it has signed up some “key accounts” including Crutchfield, Sonic Electronix and P.C. Richard & Son, it said.
The car speaker and amplifier supplier has also hired a new “Lead Strategist,” Brian Critchfield, who has helped launch over 100 products during his career including products from brands such as Toyota, Microsoft, Hewlett-Packard and Intel.
Critchfield said of the new program, “We’ve been surprised by the success we’ve had in just the first 30 days.”
MTX said it plans to support its new web site initiative with marketing and advertising. It plans to put dozens of demo vehicles on the road to show off MTX products.
The company announced in January it will sell its products almost exclusively through a web portal and that dealers and consumers alike must buy MTX products through the web site. In turn, dealers receive a 20 percent stipend for the sale and the company eliminates the need to carry inventory.
MTX said the new marketing plan also eliminates transshipping and Internet discounting.
“If you type any car audio product into PriceGrabber or a similar site, and see the actual price, it’s 30 to 50 percent less than the MSRP and MAP,” Mike Roberts, MTX Senior Vice President and Director of Corporate Sales and Marketing. “Our competitors say that’s not really happening. We just say, let us accept reality. This is what our products are selling for online.”
Source: CEoutlook
