Fender Company News & History
Three of the recent articles we found about Fender involve digital innovation, four articles involve marketing, and one involves fan base growth. Three components of Fender's brand strategy/growth areas are to promote diversity with regard to its customers and in the music industry, expand its effect pedals product offerings, and continue building its specialty-brands portfolio.
a. recent news stories about fender
- Title: "Fender Launches New Global Program — Fender Next — to Support, Amplify the Voice of Today's Artists"
- Date: February 28, 2019
- Categories: Marketing & digital innovation
- Summary: This article discusses the company's new marketing program that exists to promote rising musicians and further diversity within the music industry.
- Title: "Fender's Finance Team Proves 'Instrumental' in Digital Success"
- Date: October 24, 2018
- Category: Digital innovation
- Summary: This article includes an interview with Fender's Executive Vice President of IT & CFO (Jim Broenen) and discusses the company's approach to its digital products versus its traditional products.
- Title: "NAMM 2019: Fender Diversifies Squier Lineup With Classic Vibe Series Refresh Inspired by Fender Guitars, Basses of the '60s and '70s"
- Date: January 27, 2019
- Category: Marketing
- Summary: This article discusses the company's new guitar series called Squier Classic Vibe.
- Title: "Electric Guitar Maker Fender Launches U.S.-Made Acoustic Guitar"
- Date: January 22, 2019
- Categories: Marketing & fanbase growth
- Summary: This article discusses the fact that Fender recently built its first acoustic guitar in the U.S. since about 50 years ago.
- Title: "Fender Releases New Study on Mental, Emotional, and Physical Benefits of Playing Music"
- Date: October 16, 2018
- Category: Marketing
- Summary: This article discusses findings from a research study Fender helped conduct focusing on musicians in the UK and US and analyzed topics such as the benefits that music provides to them, their musical aspirations, and their preferences/routines for playing music.
- Title: "Fender turns cloud adoption up to 11"
- Date: December 11, 2018
- Category: Digital innovation
- Summary: This article discusses some of the company's digital products and how they work in conjunction with the cloud.
b. fender's brand strategy & growth areas
1. promote diversity
- One aspect of Fender's brand strategy/growth areas is to promote diversity with regard to its customers and in the music industry.
- For example, one of the stated goals of the company's Fender Next program is "to support a diverse set of artists . . . [and] amplify their voices as they evolve throughout their respective careers."
- Fender further stated: "We have and will continue to invest in artists across every aspect of our marketing mix, but this program just deepens that ongoing commitment to a growing allegiance of artists keeping guitar at the forefront of music and culture."
2. expand its effect pedals product offerings
- A component of Fender's brand strategy/growth areas is to expand its effect pedals product offerings.
- As an example, in March 2019, Fender launched six new effect pedals in furtherance of that goal.
- Fender's focus on expanding its effect pedal product offerings was described by the company "as part of the brand's ongoing commitment to the category."
- In commenting on the expansion, Fender's Director of Product Development — Accessories, Richard Bussey, stated: "The initial launch of our effects pedals line in 2018 was very successful. Our first wave of pedals featured a lot of distortion and overdrive effects, knowing that this year we would be able to focus on modulation effects to help further broaden a player’s palette."
3. expand its specialty-brands portfolio
- Part of Fender's brand strategy/growth areas is to continue building its speciality-brands portfolio.
- A recent example of such effort from Fender was its January 2019 acquisition of Bigsby.
- Despite the acquisition, Bigsby will remain "a standalone business under Fender Musical Instruments Corp’s Specialty Brands."
- Fender's Senior Vice President of Fender Specialty Brands, Jeff Cary, stated: "We are excited to acquire Bigsby and add to our esteemed portfolio of specialty brands."
YOUR RESEARCH FEAM APPLIED THE FOLLOWING STRATEGY:
Fender is a private company and thus doesn't publish its annual reports or financial statements. We looked for that information in three ways. First, we looked directly on Fender's website for such information by using its search box and looking for any such information through its corporate pages and press releases. However, there was no such information whatsoever. Second, we searched for Fender's annual reports through the source Annual Reports, which publishes many companies' annual reports, as available. Our search for Fender on that site didn't yield any results. As a third strategy, we looked for articles that might have mentioned or summarized such reports. One such source we checked for that was Reuters, but no such information was included in the article. Accordingly, we found insights about the company's brand strategy/growth areas from its official company statements published in its Newsroom page. We found recent articles about Fender pertaining to the specified categories through articles published in its Newsroom and elsewhere from sources such as Forbes and Bass Player. Together, this research process provided us with all the information we sought about Fender.