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NAMM to Provide Customized Financial Performance Insight to Retail Members As Part of the 2008 Cost of Doing Business Survey
Retailers encouraged to participate in survey to find out their businesses' comparable financial performance within the industry.
MEDIA CONTACT:
CARLSBAD, Calif., March 3, 2008—NAMM, the trade association of the international music products industry, announced today that it will be providing its retail Members with a free Industry Performance Report along with a customized Company Performance Report, showing their businesses’ comparable financial performance, as part of retailers’ participation in the 2008 Cost of Doing Business Survey.
Retail Members can access an online version of the survey form at https://www.iisecure.com/namm_codb_survey.asp. An Excel version of the survey form can also be downloaded at the site, which auto-calculates participants’ responses. The secure survey site hosted by Industry Insights, Inc. allows participants to submit their information confidentially and receive their reports via e-mail.
Retailers will be provided with industry information that outlines sales and margin by product, e-commerce and technology, expense category benchmarks, profits and losses, key financial ratios, and analysis of the most profitable companies.
The advantages to music products retailers participating in the survey include:
Kymberly Drake
Public Relations Manager
NAMM
760-438-8007, ext. 162
Fax: 760-438-8257
e-mail: kymberlyd@namm.org
Scott Robertson, APR
Director of Marketing & Communications
NAMM
760-438-8007, ext. 102
Fax: 760-438-8257
e-mail: scottr@namm.org
NAMM TO PROVIDE CUSTOMIZED FINANCIAL PERFORMANCE INSIGHT TO RETAIL MEMBERS AS PART OF THE 2008 COST OF DOING BUSINESS SURVEY
CARLSBAD, Calif., March 3, 2008—NAMM, the trade association of the international music products industry, announced today that it will be providing its retail Members with a free Industry Performance Report along with a customized Company Performance Report, showing their businesses’ comparable financial performance, as part of retailers’ participation in the 2008 Cost of Doing Business Survey.
Retail Members can access an online version of the survey form at https://www.iisecure.com/namm_codb_survey.asp. An Excel version of the survey form can also be downloaded at the site, which auto-calculates participants’ responses. The secure survey site hosted by Industry Insights, Inc. allows participants to submit their information confidentially and receive their reports via e-mail.
Retailers will be provided with industry information that outlines sales and margin by product, e-commerce and technology, expense category benchmarks, profits and losses, key financial ratios, and analysis of the most profitable companies.
The advantages to music products retailers participating in the survey include:
- Time savings. Financial industry research has been shown to be imperative to good business practices, but it is time consuming. Utilizing the Cost of Doing Business Survey provides a confidential, expertly compiled financial outlook statement with very little effort on the part of retailers.
- Cost Savings. It can be costly to conduct thorough industry research. NAMM utilizes its resources on behalf of its Members to hire an independent research firm, Industry Insights, to design a questionnaire, collect the responses, input and analyze the data, and compile a final industry-focused report. Industry Insights then provides participants with a customized Company Performance Report that analyzes retail Members’ individual companies.
- Benchmarking. Since research is being conducted industry-wide, the results provide a comprehensive outlook on the financial standing of the industry, allowing NAMM Member retailers to benchmark their business performance with that of their peers.
- Improved Company Performance. The personalized Company Performance Report offers retailers the opportunity to compare their business practices with other stores, and make improvements that are grounded in measured success.
- Tracked Changes. NAMM Members participating in the survey automatically have the ability to track performance trends at their companies based on their initial survey results.