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?

Question

Quizplus · Accepted Answer

Understanding consumers' discretionary income is crucial for forecasting sales and planning inventory levels, as it represents the amount of income left after essential expenses, which can be spent on non-essential items like musical instruments.

The Guitar Center Traces Its Roots to 1959 When Wayne