Beats Headphones Marketing Overview: Positioning and Strategy
Dr. Dre Beats headphones target a young audience offering high-end quality sound and unique value proposition in the competitive market. With a significant market share and specific brand positioning, the product caters to music enthusiasts looking for premium audio experiences. Utilizing a combination of sound quality and customer perception, Beats headphones have successfully carved a niche in the industry through strategic marketing efforts.
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Beats Headphones THIS PLAN IS CONFIDENTIAL
Table of Contents Concise Marketing Overview of the Product & its role in the Market . 3 Current Product s competitive position ... . 4 Value Proposition .....................................5 Primary target market characteristics . ..6 Target Market Buyer s decision process . ...7 Brand Strategy of the product/service . .8 Type of product/service lifecycle & benefits/features analysis ............9 Current supply chain members and their roles ......................................10 Value delivery network analysis .. 11 First year communications objectives ......................................................12 Issues impacting the objectives attainment ...........................................13 References .14
Product Description Concise Marketing Overview of the Product & its role in the Market Dr. Dre Beats company creates high-end quality headphones. Beats headphones allow music listeners to have a full music experience. Beats headphones produces the songs as originally played from professional recording studios without any sound alliterations. Customers use Beats headphones at individual level and most of them prefer not to share. Many who have used Beats headphones are quoted describing them as premium headphones. Beats headphones are available even in online sales, hence potential customers can shop for the product online.
Product Description Current Product s comp titive position In terms of unit sales, Beats headphones combined market share is 24% while in terms of dollar sales, the combined market share is 49% Beats headphones competitors include; Sony ($348)- best overall and utilizes internet and social media advertising. Plantronics ($220)= best for phone calls and utilizes internet advertising. Audio-Technica ($549)- best sound quality and utilizes internet and social media advertising. Beats headphones can be hacked and used to bug conversations. In reference to Beats Earphone s market share, the product is a market challenger.
Product Description Value Proposition Beats headphones secures a brand great deal by utilizing the combination of offering a better sound and making customers feel better. Beats headphones offers more for less. For instance, Apple is selling $400 iPod with $1 earphones. The fact that Beats headphones do not reproduce music as much as they transform it differentiates it from competitors. The lightness, less expensive on-ear version of the studios (without the noise cancelling feature), quality sound delivery helps Beats headphones develop lifetime value for its target audience.
Product description Primary target market characteristics The major target market for Beats headphones are teens since they have allowance to spend on the latest grades. Also college personnel use their product for a trendy way on listening to music. Music production studios and musicians are other distinguishable targets for the product. All which contributes to higher company profitability. Concentrated marketing strategy is currently being used in marketing Beats Earphones.
Product description Target Market Buyer s decision process Customers purchasing Beats headphones mostly use complex buying behaviour. Customers in this case are highly involved with the purchase. There is always a significant difference between different hearphones. Most customers only need the brand producing quality music.
Product Review Brand Strategy of the product/service Beats headphones is a national brand with brand equity. Currently, the product is sold in all Apple outlet stores. The product well recognised making it generate more revenue to the manufacturer. Beats headphones is part of a product line. Speakers and accessories are in the same product line with Beats headphones. Beats headphones brand is well represented in the packaging making the primary target to easily identify the positioning strategy. The young people who love music are always out looking for the brand.
Product Review Type of product/service lifecycle & benefits/features analysis Beats headphones are in the maturity stage of the product life cycle. Discounts are used to sell the remaining products in the retail and online stores. Beats headphones don t reproduce music. Beats headphones design is customizes the sound the listener wants. They finish music the way customers like. They don't have the noise cancelling feature. They are lighter compared to other headphones. Deliver good overall sound quality. The target customers are innovators since they are are always seeking change with technology.
Distribution Review Current supply chain members and their roles Intensive distribution strategy is used in distributing Beats headphones Once manufactured, they are distributed to different online and retail store so that customers can encounter them from anywhere Indirect direct channel of distribution is used for the Beats headphones to reach to the young music lovers After being manufactured, the Beats headphones are distributed to the wholesalers then the retailers pick up from the company wholesalers.
Distribution Review Value delivery network analysis Vertical marketing system strategy of marketing is used to market Beats headphones The distribution strategy is intensive Distribution and production chain ownership lies the manufacturer only The proximity of the product to the customer is always the focus issue
Communications Objectives and Issues First year communications objectives The following communication objectives are needed to improve Beats headphones product knowledge from the current 60% to 90-100% Creating awareness Effecting a sale Projecting an image The young music lovers are always redy to acquire new knowledge about new headphones features Broad awareness should be done The target audience liking, preferences and even purchase changes as they gain more knowledge off better products.
Issues impacting the objectives attainment Immediately after the manufacture of new headphones with different feature, they need to be tested before they get distributed. The test is to consider if the product is the desired outcome. The company marketing department has to be allocated good funds for broader awareness to be done. Considerations of the target market test and preferences should be considered in any event of new product development.
References Dockterman, E. (2014, May 9) Apple reportedly in talks to buy Beats for $3.2 billion. Retrieved from: http://eds.a.ebscohost.com.ezproxy.umuc.edu/eds/detail/detail?vid=1&sid=9a289c6b-9efa-42e7-9a93- ec3549569191%40sessionmgr4008&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#AN=96 009885&db=heh Forbes (2014, July 8) Billionaire jumps into headphone battle against beats audio. Retrieved from: http://eds.a.ebscohost.com.ezproxy.umuc.edu/eds/detail/detail?vid=2&sid=9a289c6b-9efa-42e7-9a93- ec3549569191%40sessionmgr4008&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#AN=96 997427&db=heh Adweek (2015, January 26) We got the beats. Retrieved from: http://eds.a.ebscohost.com.ezproxy.umuc.edu/eds/detail/detail?vid=3&sid=9a289c6b-9efa-42e7-9a93- ec3549569191%40sessionmgr4008&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#AN=10 0783452&db=bth Guzman, I (2014, January 27) Generation Beats. Retrieved from: http://eds.a.ebscohost.com.ezproxy.umuc.edu/eds/detail/detail?vid=4&sid=9a289c6b-9efa-42e7-9a93- ec3549569191%40sessionmgr4008&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#AN=93 718639&db=heh Smith, B. (2018, May) Ditch the wire. Retrieved from: http://eds.a.ebscohost.com.ezproxy.umuc.edu/eds/detail/detail?vid=5&sid=9a289c6b-9efa-42e7-9a93- ec3549569191%40sessionmgr4008&bdata=JnNpdGU9ZWRzLWxpdmUmc2NvcGU9c2l0ZQ%3d%3d#AN=12 8891702&db=hxh
