2006 PARA Management Conference Attracts High Level Decision Makers From The Specialty Audio-video Channel

Closing Day Highlights Include Keynotes from CEA's Gary Shapiro and Marketing Expert Joe Pine

May 15, 2006

The 2006 PARA Management Conference concluded last week with influential specialty audio-video retailers and owners on hand to discuss the business and market issues facing specialty dealers. The conference, produced by the Consumer Electronics Association (CEA®), ran May 3-7, 2006, 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. On Friday morning, Verne Harnish, founder and CEO, Gazelles Inc., presented his Mastering the Rockefeller Habits workshop and provided PARA members with four key components to increase the value of their growing organizations: cash, people, strategy and execution. The workshop format gave attendees a chance to evaluate each step within their own small businesses through charts, worksheets, personal instruction and one-on-one interaction with peers. On Saturday, CEA president and CEO Gary Shapiro presented a keynote, HDTV: Debunking the Myths about the Analog Cut-Off, to PARA members, many of whom serve as the first point of contact in consumer education. Shapiro announced that first quarter sales figures for digital television (DTV) were up more than 100 percent from the same quarter in 2005, proving that consumers are more than ready for the digital transition. He also provided PARA members with instructional materials and CEA websites to use in their business' education efforts including: www.CE.org/HDTV, www.antennaweb.org, www.myCEknowhow.com and www.CEAconnectionsguide.com. Following the keynote, Kerry Moyer, CEA's senior director of strategic relationships, moderated the panel session Marketing Programs that Work, featuring panelists Bjorn Dybdahl, president and Keri Seward, marketing and merchandising manager, of Bjorn's Audio and Video. Extrapolating on the conference theme, stand out from the crowd, Dybdahl discussed the complexities of differentiating your business from your competitors through effective marketing. Seward explained that one of the secrets to success is to advertise a concept, rather than advertise price. Discussing topics ranging from advertising budget caps to the benefits of print or television ads, Dybdahl's final piece of advice to attendees was to build relationships with the media and with your community and customers will come. In the second panel of the morning, CE 2010: PARA Dealers to the Rescue, moderator Karen Chupka, senior vice president of events and conferences at CEA, led panelists through a frank discussion of what the specialty retail landscape will look like in the year 2010. Panelists including Steve Caldero, vice president of sales, Ken Crane's Home Entertainment City; Jeff Hipps, senior vice president, Sherwood America Corp.; Jay McLellan, president, Home Automation Inc.; Frank Wright, founding partner, Stay Tuned and Gary Yacoubian, president, MyerEmco AudioVideo, were optimistic about the future and agreed that specialty dealers will need to work hard to differentiate themselves from big-box retailers and concentrate on staying relevant in a changing marketplace. The group also played up the importance of showroom demonstrations and keeping current on new technologies. "The future of specialty audio-video retail can be summed up in a few words: wireless, personal and involved," said Caldero. "The next generation wants to be involved and interact with their technology." Yacoubian echoed that sentiment stating, "Specialty retailers have to be relevant to what our customer base is interested in and IP-based technology is going to rule the roost." In the final session of the 2006 PARA Conference, a keynote titled The Experience is the Marketing, Joe Pine showed that in the new retail environment consumers now are seeking experiences rather than just buying products. Pine explained this is due to a shift in the economic value system - as goods and services have become commodities, people want to be engaged in an inherently personal way. He said, "Experiences drive everything else - people want to create memories and signature moments." Pine said this is an opportunity for retailers to differentiate themselves as they compete with the rest of the world for consumer's 'fungible' dollars. Retailers must create an experience that generates demand for their offerings. He said that retailers in the audience need to "find a way to create value and to charge admission so your customer's will pay for you to sell to them." Quote from attendees of the 2006 PARA Management Conference: "The PARA conference is a great way to collect news ideas and collaborate with other successful, experienced, like-minded people. As a new PARA member - I joined just 10 days ago - I couldn't have asked for a better learning experience in such a relaxed, fun atmosphere." Josh Lisman, president of Entertainment Solutions. "The keynotes and presentations did a good job of blending information for dealers and manufacturers. It gave me ideas and perspectives from the other side of the small business." Andy Wakefield, director, home business unit, Lutron Electronics Co. "Of all of the events during the year, the PARA conference is the only one that actually helps you to run a business; it's invaluable." Laurie Mullins, Sound Images "As a new business owner, I felt like I was speeding down a highway with no guard rails out of control, but after the PARA Conference I now feel like I have a clear direction with which to take my business. It has been a tremendous value." John Price, managing partner, SoundSystems High Definition Home Entertainment. For more information on the PARA Management Conference, including the full conference agenda, visit www.ce.org/events .

Read More:
http://www.CE.org/HDTV
http://www.antennaweb.org
http://www.myCEknowhow.com
http://www.CEAconnectionsguide.com