2006 PARA Management Conference Focuses On Business Strategy For The Specialty Audio Video Retail Channel

Marketing Guru Jack Trout and Custom Installation Consultant Mitchell Klein Deliver Keynotes to Help Retailers Differentiate Their Businesses

May 9, 2006

Specialty audio video retailers from across the country gathered this week at the 2006 Professional Audio-Video Retailers Association (PARA) Management Conference to discuss growing and differentiating the specialty audio video retail channel. The conference, produced by the Consumer Electronics Association (CEA(R)), runs through tomorrow in Hilton Head, South Carolina. PARA, a division of CEA, represents more than 250 dealer and retailer members involved in the retail of specialty audio-video, home theater and custom electronics products. Opening the first day of programming on Thursday, Gary Yacoubian, chair of CEA's PARA Division and president of Myer-Emco, welcomed attendees to the conference and challenged them to take home at least five new, inspiring ideas to help their businesses stand out from the crowd. He also gave a glimpse of the programs and initiatives that CEA is developing on behalf of PARA members, including the new Home Theater Specialist Certification Program and a new hire exam designed to gauge the technical aptitude of future employees Following the welcome remarks, Jack Trout, president of marketing firm Trout & Partners and best-selling author, presented the opening keynote, Differentiate or Die, and delivered a simple message about branding: if you don't stand out from the crowd, you better have a very low price. Trout focused on differentiating a brand through a variety of factors including product attributes, leadership, history and expertise, and instructed attendees to concentrate on a single difference, rather than a meaningless slogan, in marketing plans. He then led the group through four steps to turn a differentiating idea into a full-scale marketing program, noting that the difference must become an integral part of all communications pieces. In How to End Labor Pain, Mitchell Klein, founding partner of consulting firm Stay Tuned, explored methods to maximize profit from labor, what he called the specialty retailer's most valuable resource. Klein discussed the myths of labor profitability, telling attendees that while labor may be profitable, it also can be a barrier to growth if not managed correctly. He introduced his five required competencies: structure, process, management, customer segmentation and pricing strategy. He also stated that service is the last bastion of differentiation and asked attendees to constantly question what differentiates their brand from others in order to compete in the future. During afternoon breakout sessions, attendees learned from a variety of experts on topics such as preparing financial statements, hiring secrets, cash flow management, eBay solutions, working with homebuilders, merchandising and controlling inventory. Attendees also participated in one-on-one meetings designed to bring dealers face-to-face with manufacturers. For more information on the PARA Management Conference, including the full conference agenda, visit http://www.CE.org/events. About CEA: The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the consumer technology industry through technology policy, events, research, promotion and the fostering of business and strategic relationships. CEA represents more than 2,100 corporate members involved in the design, development, manufacturing, distribution and integration of audio, video, mobile electronics, wireless and landline communications, information technology, home networking, multimedia and accessory products, as well as related services that are sold through consumer channels. Combined, CEA's members account for more than $125 billion in annual sales. CEA's resources are available online at http://www.CE.org, the definitive source for information about the consumer electronics industry. CEA also sponsors and manages the International CES - Defining Tomorrow's Technology. All profits from CES are reinvested into industry services, including technical training and education, industry promotion, engineering standards development, market research and legislative advocacy. UPCOMING EVENTS -- The 10th Annual Consumer Electronics CEO Summit June 21-24, 2006, Southampton, Bermuda -- 2006 SINOCES July 7-10, 2006, Qingdao, China -- 2006 CEA Summer Technology and Standards Forum July 24-28, 2006, Coronado, CA -- CEA Industry Forum October 16-18, 2006 San Francisco, CA -- 2007 International CES January 8-11, 2007, Las Vegas, NV

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