Visit the Web sites of C. F. Martin & Company (www.martinguitar.com) and Pearl Paradise (www.pearlparadise.com). Search online for more information on these companies. How are the two companies similar, particularly with regards to the quality of the products they sell and the pricing strategies they use?

Founded in 1833, C. F. Martin & Company is the oldest guitar maker in the world. Now in its sixth generation of family ownership, the company’s acoustic guitars have a reputation for being among the highest quality, best sounding instruments on the market, and many stars— past and current, ranging from the King of Rock and Roll, Elvis Presley; the Singing Cowboy, Gene Autry; to Sting and Steve Miller—play nothing but a Martin. The company makes 52,000 guitars each year. Although employees use modern equipment in the manufacturing process, much of the work performed in the 300 steps required to build a guitar at 60 different workstations is done by the hands of highly skilled and experienced workers. Workers hand tunes each guitar to make sure that its sound is just right. Prices for the most popular Martin guitars range from $2,000 to $3,000, but the company makes highly specialized limited edition models such as the D-100 Deluxe made of Brazilian rosewood, which sells for $110,000.