MARKETING MIX
A. PRODUCT
– Dr. Dre Beats is a company that creates high-end quality headphones. It’s products allow listeners a full music experience with the capability of producing the songs as played from professional recording studios. Their target market is:
Teens the youth with allowances to spend on the latest gadgets. The Generation Y, the people under this category are those who are all about what’s new, trendy, and value brand names.
Tag-line : “People aren’t hearing all the music” – Dr. Dre
– Products are:
Headphones
Earphones
Speakers
– Special Products founded in:
HTC Phones ( It’s Built-in audio system; Dr. Beats Earphones) HP Laptops ( Audio of PCs and Monitors)
Chrysler Cars (Car audio system)
-Competitors:
Jay-Z in partnership with Skull Candy for RocNation’s Aviator headphones. Ludacris in partnership with Signeo for Soul by Ludacris
50cent in partnership with SMS for SYNC/ SMA Audio 50
B. PRICE
– Products ranges from $199 – $699.
– It’s top-end pricing are determined from the quality materials used for the finishing product accompanied by a refined packaging. – Beats used a similar price strategy of APPLE’S with’price skimming’ wherein they set the price of the product high upon entering the market before competitors show up.
The Term Paper on Product life cycle and its stages
In today’s world, where market is unpredictable, strategies play crucial role in defending a firm’s product position. “The main reason why companies must continually develop new products is because products have life cycle”, (Bittel, 1980). Just as operation managers must be prepared to develop new products, they must also be prepared to develop strategies for both new and ...
C. PLACE
– They manufacture their products -> send to officially selected distributors per State/Country -> send to official retailers of State/Country.
12 Verified retailers of Dr. Dre Beats in Philippines:
Abenson
Ambassador
Astroplus
Automatic Center
Cebu Circuit City
Digital Hub
Gadgets in Style
PowerMac Center
Saver’s Digital Hub Appliance Depot
SM Appliance, Inc.
Switch
– Products can also be bought from Dr. Dre Beat’s official web-site and web-sites of official retailers.
D. PROMOTION
– Beats by Dr. Dre has proved their effective promotion by: advertisements in commercials, music videos, and the world wide web media (Facebook, Twitter, Tumblr, etc.) endorsements from popular celebrities, iconic musicians, and even athletes.
– From their successful promotions Beats are branded not just as quality headphones but also as fashion accessories.
E. PEOPLE
– The founders:
Dr. Dre – renowned modern music artist.
Jimmy Lovine- famous producer of artists.
Luke Wood- known as a musician, producer, and songwriter.
– People behind:
Monster Cable Sound Technology- audio company who are known for producing quality but overpriced HDMI cables. Robert Brunner – former design executive for Apple.
F. PROCESS
What can be found in Beats by Dr. Dre’s official web-site:
Customer service/ Contact details.
Product Manuals.
Safe Buying Guide (to avoid buying of fraud products).
Authorized Retailers (to find stores that legally sell legit products).
All About the Company and the People behind it.
All available products.
Policies: Private and Return Policies.
Sources:
http://ph.beatsbydre.com/support/authorized-retailers,en_PH,pg.html http://business.time.com/2013/01/16/how-dr-dre-made-300-headphones-a-must-have-accessory/ http://ph.beatsbydre.com/on/demandware.store/Sites-beats-Intl-Site/en_PH/Default-Start http://monstercable2011.blogspot.com/
The Essay on Retailing businesses
Different retailing businesses have very different distribution methods based on the types of product that they sell, some arguably more effectively than others. As mentioned in an earlier assignment, there are three main types of distribution channels. The first is the channel that goes from the producer, then to the wholesaler, then to the retailer or sells to the consumer. The second channel ...
