Dr. Dre, also known as Andre Young, has been well known name in music circles. He has been a part of music acts like Snoop Dog and Eminem. Beats by Dr. Dre has become a popular audio technology brand that has come to be the epitome of audio quality. By going to the beatsbydre.com website, you can purchase headphones, earphones and speakers. The Beats by Dr. Dre Pill is the music mogul’s next venture. It is a portable Bluetooth speaker that will provide customers with another great way to listen to their music.
Current Situation & Trends
“The product life cycle is concerned with the sales history of a product or product class.” (Mullins & Walker, 2013, pg. 271) Beats by Dr. Dre’s mission is to be the leading producer of headphone and portable speaker systems and since their inception they have been climbing the ladder taking market share from competitors link Samsung and Sony. The current industry climate consists of many big brand names competing for a piece of the pie. All of these big brand names have a unique selling proposition and key features but none have differentiated themselves the way Beats by Dre has. The headphones have become an industry standard and they are an item coveted by the masses, creating an opening for Beats by Dre to introduce The Pill.
Customers that purchase the Pill, truly want a wireless speaker. It is sturdy, easy to carry around, reasonably priced for the quality and has great sound. There is a growing trend towards high quality audio products. In 2013 everyone considers themselves an audiophile. The technology required to make high quality audio products has become less costly to produce, making it more accessible to the masses. Bose, Sony, Pioneer and Sennhiesser all produce studio quali...
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...ssful business.
With the Beats by Dr. Dre Pill, the company could use Christian music artist as spokes people. Christians are consumers like any other but they have different value as to what role models or what music they listen to. Christians motivation is to first please God then serve others and the best way to serve them is to give them an accurate picture of what your product or service can do for them. The main idea is to find a good balance. “Larry Ross, arguably the top public relations man for Christian clients in America, characterizes part of his job as finding the sweet spot where faith and the culture intersect, because religion on its own often isn't enough, as he sees it, to generate mainstream press (Saroyan, 2006)”. Integrating faith into marketing maybe a challenge but it is one that Christians should be up for with the help of God’s word.
Have you ever thought how much research and effort a company has done to make their product appeal to you? A company will conduct surveys, record human responses to specific images, and adhere to government regulations not to mention all the different designs produced, just so that you will want to buy their product over their competitors. In Thomas Hine’s essay, What’s in a Package, Hine discusses the great length the response that a consumer should have when looking at a product’s packaging, the importance of manufactures’ marketing campaign, the importance of packages depending on the culture, then finally to why designs will change over time.
Nevertheless, it must “defend” its current market share if not increase it, by maintaining premium quality and develop innovative products. The marketing mix strategies will effectively achieve targeted revenue and profitability in the near future.
...s: each was licensed to a much larger firm because the originator firm lacked the capability to market the drug. the larger analysis of blockbuster drugs showed that this thread is common across blockbusters that originated with smaller firms. The largest firms appear to hold a significant advantage in commercialization—they are highly effective at extracting the value of innovative drugs . The study suggests some qualified reasons for skepticism that the end of the blockbuster era will bring a major upheaval in the industry. Large firms’ advantage in commercialization suggests that they may maintain their dominant position. Marketing of pharmaceuticals may move from broad-based to targeted approaches, but a company with a broad reach may still have an advantage in identifying markets for niche drugs and commercializing the drugs within those more narrow market
More new products need to be introduced and research needs to be done to find out which products will be most popular and profitable.
More than any other rapper, Dr. Dre was responsible for moving away from the avant-noise and political stance of Public Enemy and Boogie Down Productions, as well as the party vibes of old school rap. Instead, Dre pioneered gangsta rap and his own variation of the sound, G-Funk. BDP's early albums were hardcore but cautionary tales of the criminal mind, but Dre's records with N.W.A. celebrated the hedonistic, amoralistic side of gang life. Dre was never much of a rapper -- his rhymes were simple and his delivery was slow and clumsy -- but as a producer, he was extraordinary.
Chapter 6 covers the “product life cycle”. Product life cycle is series of stages a product goes through from the time it is launched into the market until the time it is removed from the market. Cactus Rose is currently in the stage of growth. Since, Cactus Rose has been around the town of Wilton for just a couple of years, it is considered as one of the best fine dining area around town. The restaurant can still can be enhanced and promoted and gaining the people around town’s full support. Eventually, it will reach its full marketing potential in the near
As stated in the case, “the market for energy drinks was growing; between 2010 and 2012, the market for energy drinks had grown by 40%. It was estimated to be $8.5 billion in the United States in 2013 [and] forecasts projected that figure to reach $13.5 billion by 2018” (pg 5). However, much of this market’s revenue -- 85% in fact -- is dominated by five major brands, while the remaining 15% is split between approximately 30 regional and national companies. (pg. 5). With this saturated market, it might not be best for Crescent Pure to enter as a completely new product to the industry, as there is the possibility that it will be squeezed out of the profit shares by more established brands -- especially if it is not properly secure in its identity. In addition, while the market for energy drinks appeared to be growing at an exponential rate compared to the market for sports drinks -- which increased only 9% in five years and would be at approximately 60% of the rate for energy drinks in 2017 (pg 6) -- the consumers appeared to be wary of partaking in the market for several reasons, which would potentially harm the reach of Crescent Pure. These concerns included rising news reports discussing the safety of energy drinks (pg. 5). Taking into consideration the data provided in the case that concerns reasonings of why consumers choose specific drinks over others, there
Relating this to Hip-Hop rappers recently have found alternative ways to make money by partnering with a company using their name to ultimately boost sales. According to Black Entrepreneur Profile “In 2007, Mr. Combs partnered with Diageo for a groundbreaking strategic alliance to oversee and manage all branding and marketing initiatives for Ciroc Vodka. Under the terms of the deal, Mr. Combs and Sean Combs Enterprises will take the lead on all brand management decisions for Ciroc, while sharing in the future profits of the growth of the brand. This exclusive US multi-year collaboration, which calls for a 50/50 profit split, is a first for the spirits industry and could be worth more than $100 million for Mr. Combs.” Ciroc did become a highly desirable alcoholic beverage, where you see it everywhere from commercials, to getting un-paid promotion from rappers saying that they are in the club ordering a bottle of Diddy (Ciroc). The capitalism ways that a rapper can innovate, and exploit a product are very effective due to the popularity of the rapper they can really make an impact on the society. For example, Andre Young (Dr. Dre) partnered with Monster to create Beats by Dre in the long run making him a billionaire. having the world famous Hip-Hop legend on the name of a decent pair of headphones had all the ingredients to have every teenager begging their parents to buy the overpriced headphones creating a huge trend that now has been bout out by apple which is capitalist mogul who plays with societies wallets like a happy meal toy. Having this new way that Hip-Hop can influence style in todays culture gives them a whole new type of influence besides the bars they write in their
When creating a marketing mix for a product, the company needs to look at the 4Ps: product, place, price and promotion (Eugene McCarthy, 1960). “When considering the 4 P’s of the GoPro, it is clear that the company’s success has been due in large to such great marketing.” (Suki Chan, 2013)[1].
McTigue Pierce, L. (2005, July). Pfizer: Growth amid adversity. Food & Drug Packaging, 69, p. 60.
There is an increasing pressure within pharmaceutical markets to reduce prices in line with medical budgets, as well as maintaining patent expirations. Being a global brand means disturbance in the operations when the market fluctuates. There is an internal weakness in the pharmaceutical industry, which includes theft and counterfeiting of drugs, and therefore is a weakness of Johnson & Johnson. While Johnson & Johnson has these specified weaknesses they deal with, there are even more opportunities which gives them an advantage for strengthening their position in the market. They already have the strength of meeting a broader range of customer needs with their products falling under three categories. Expiring patents on brand name drugs lead to an increase in the sales of generic drugs, Johnson & Johnson could capitalize upon this opportunity. With diagnostic markets growing, this positions the company in a good place as well as new medical therapies and findings that align with some of the company’s primary capabilities. Threats the company faces is with product recalls, extreme competition in pharmaceuticals that results usually in the first to enter is generally where success is determined. With technology developments, biotech concepts might possibly move the traditional pharmaceutical methods out of the
Over the last decade, product marketing and ways through which communication takes place between manufacturers and consumers has changed tremendously (Belch & Belch 2004). Due to the technological revolutions and the rise of innovations such as the mobile phones and the internet, control over information has shifted apparently from the manufacturer's hands to the hands of consumers (Belch & Belch 2004). The market environment has also changed due to globalization of marketing strategies, loss of confidence in media advertising, increased reliance on targeted communication methods, and media fragmentation and so on (Belch & Belch 2004).
Competitors to Wave would be Beats by Dr Dre, Sennheiser and Shure. First of all, Fountain understands that Dr Dre focuses on similar aesthetics and representable brand which brings you the status after using their products, whilst they also have celebrity endorsements; which benefits them from advertising and promote it into different classes. Also now that Beats are available in Apple stores which created a bigger market share. Sennheiser and Shure are focusing on contrasting and quality audios for professional use. This is a sign that Wave should combine the competitors’ strength to create aesthetics, trendy with high quality and contrasting product that fulfill both trendy and professional needs. (Refer to
Apple Inc. has undergone a sea of change over the years, from being PC creators to IPod, the revolutionary digital media player. This write-up will discuss the article Total Brand Management, Choices Again and vis-à-vis Apple Inc (AAPL).
The aim of this project is to highlight the product by considering the objectives of marketing and communication. Sports shoes are the most common shoes used as regular basis. These kinds of shoes are meant for running, exercise, walking .Sports shoes are commonly known as: running shoes and athletic shoes. Due to a great competition in the market of Sports shoes, Marketers are providing modified sports shoes as per requirements of customers.