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Kenwood Reports Strong First Fiscal Quarter Sales and Market Share Growth Jul 17, 2007 |
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Kenwood USA Corporation announced strong first quarter sales results and gains in market share. The company attributes the gains to new product offerings, effective sales promotions and increased consumer demand for enhanced navigation and connectivity capabilities.
“We managed our way through a difficult market environment and capitalized on business opportunities like never before,” stated Keith Lehmann, Senior Vice President of Kenwood’s Consumer Electronics Sector. “We came out of CES with one of our best product lineups coupled with the very aggressive ‘King of Spring’ promotion and enhanced in-store merchandising. Our dealers responded favorably and took a strong position with Kenwood in 2007, particularly with in-car navigation and OEM integration products.”
Part of the success during the last quarter can also be credited to Kenwood’s inaugural Expeditor Program, which supplies qualified dealers with program-specific product and extended warranty coverage necessary for working with car dealerships, fleet companies and other vehicle resellers.
Kenwood said its dealer promotion efforts have paid-off with multiple purchase incentives, mail-in rebates for consumers and enhanced in-store merchandising. “We increased the profitability of our products this year with the Kenwood Excelon EPI program, which was a request of our dealers in late 2006. The ‘More Bass for your Buck” consumer mail-in rebate program was launched July 1 to help drive floor traffic, and our new merchandising materials including a cool new promotional DVD should help to give customers a strong Kenwood message when they arrive at the dealers’ showroom,” Lehmann said.