Cobra 2002 Annual Report Download - page 7

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4 COBRA฀ELECTRONICS฀CORPORATION
2002฀ANNUAL฀REPORT฀ ฀ ฀ ฀ 5
Even฀more฀impressive฀was฀
Cobra’s฀dramatic฀growth฀in฀
market฀share฀in฀the฀U.S.฀
FRS/GMRS฀two-way฀radio฀
market.฀Cobra฀had฀been฀the฀
number฀two฀player฀in฀this฀
market฀since฀late฀1998.฀While฀
the฀company฀had฀moved฀closer฀
to฀the฀leading฀brand฀in฀each฀
succeeding฀year,฀entering฀2002฀
this฀gap฀was฀still฀rather฀sizeable.฀
By฀year’s฀end,฀however,฀Cobra฀was฀
able฀to฀catapult฀itself฀within฀close฀
reach฀of฀the฀number-one฀position.฀
What฀makes฀this฀feat฀all฀the฀more฀
impressive฀is฀that฀while฀Cobra’s฀competitors฀reduced฀their฀
prices฀by฀an฀unheard-of฀average฀of฀45฀percent฀in฀2002,฀
Cobra฀reduced฀its฀prices฀by฀less฀than฀half฀of฀that฀rate.฀
Cobra฀was฀able฀to฀do฀this฀because฀its฀on-going฀dialogue฀
with฀consumers฀revealed฀that฀
good฀value฀
—฀rather฀than฀
cheap฀prices฀—฀is฀what฀consumers฀are฀really฀looking฀for.฀
And฀by฀being฀the฀industry’s฀most฀aggressive฀marketer฀of฀
longer-range฀radios฀and฀“value฀packs”฀featuring฀battery฀
chargers฀and฀rechargeable฀batteries,฀Cobra฀was฀able฀to฀set฀
a฀new฀standard฀for฀value฀while฀simultaneously฀pricing฀its฀
products฀well฀above฀the฀industry฀average.
Cobra’s฀two-way฀radios฀
and฀GPS฀receivers฀are฀fun฀and฀
convenient฀ways฀for฀active฀
families฀to฀keep฀connected฀and฀
stay฀safe฀in฀the฀great฀outdoors.
Out฀of฀the฀tens฀of฀thousands฀
of฀new฀products฀displayed฀
at฀the฀2003฀International฀
Consumer฀Electronics฀
Show,฀only฀17฀received฀the฀
prestigious฀
Popular฀Mechanics
“Editor’s฀Choice฀Award”฀—฀and฀
Cobra’s฀PR฀4000฀WX฀was฀one฀
of฀them!
Cobra’s฀passion฀for฀high฀
performance฀and฀extreme฀user-
friendliness฀makes฀its฀two-way฀
radios฀the฀preferred฀choice฀
for฀both฀recreational฀and฀
commercial฀applications.
Cobra’s฀U.S.฀Retail฀Storefronts
35,000
’99฀ ’00฀ ’01฀ ’02
31,000
20,000
18,000