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Elements of Marketing Mix In business one may often hear the term the up’s; this term refers to the elements within the marketing mix product, price, lace, and promotion. Bose Corporation has spent large sums of money, time, and resources In developing a dependable product brand. A large number of people In the united States will recognize the name Bose. Dry. Mar G, Bose founder and chairman of a privately held company. Dry.
Bose who can be quoted in an 2004 interview in popular science magazine as saying “l would have been fired 100 times at a company run by Mambas but I never went into business to make money I went into business so that I could do interesting things that hadn’t been done before. “. Dry. Bose devotion to classical music along with his innovative engineering mine set out to rate a music system that would give the listener sound equal to a live performance. Product Dry. Bose product brand has steadily grown recognition over the years and Is synonymous for high quality audio systems.
Even though Dry. Bose has Invented, developed, and produced many high quality Len- home and commercial audio systems he will be synonymous with the acoustic wave music system. Riffing Lully 12, 2013), consumer. Because Dry. Bose placed a high emphasis on creating a product that would surpass customer expectations many newly developed products have a stable architecture to launch from. Bose Corporation is unlike any business practicing in Massachusetts according to Kisser None 21, 2004. Bose invest 100% of their profits back into research and development.
I have worked a Bose Corporation in the past an can personally say it is the only company that I truly believe has the customer needs and wants up of its own. I have witnessed personally and have been involved in transactions being done solely for the purpose of enhance customer satisfaction. The above-mentioned transactions were given to the customers at a loss for Bose; however, that level of customer satisfaction has a ripple effect across the entire Bose reduce line increasing customer loyalty. Over time these transactions will produce potential profit.
Bose Corporation target market is fast. Bose develops products for many different target markets. For instance, Bose creates a noise canceling headphones with the boom-mimic for pilots. Bose also develop copyrighted headphones for the military as well as medical devices for the health care industry. Bose product and price range was developed towards customer looking for a quality product. These customers tend to feel comfortable spending a little bit more money for his or her product. Bose Corporation stands behind their product beyond the standard 30, 90, or even two-year warranty.
If a customer has a Bose product that they have owned for a long time even 10 years or longer, and they wish to upgrade this product Bose will accommodate. Bose will offer customers X amount of dollars for his or her outdated product towards an upgraded product. I have also witnessed this firsthand. Place There are many places the consumer can find Bose product. They are available in Low’s exclusive stores, high-end electronic stores, well-established retail stores, infomercials as well as online. Bose holds an extremely tight control on where their product is bound for sale.
Bose Corporation has a private investigation team that constantly searches the Internet for sites that promote Bose products without the permission of Bose Corporation. Price Bose holds an even tighter rein on the price the product can be sold for. If a retail store has a sale for 10% off all items Bose product cannot be offered under this advertisement. Bose enforces a uniform pricing across all markets. The only place that is authorized to offer a discount on a Bose product is Bose Corporation itself.
Bose will bundle certain products for particular retailers that can only be offered in that retail store. Giving that retailer a marketing advantage. These contracts I discuss prior to the product being placed within that retailers store. If the Bose investigation team finds a website offering a Bose product at a reduced price the teen initiates immediately an injunction to prohibit further product through the Bose employee discount program ,then turn around and sells the product. The employee has violated Bose is ethics policy and is terminated.
Bose tryingly enforce uniform pricing across all markets Promotion Bose Corporation is a technology company focusing a majority of its advertising on the quality behind the name Bose, Bose promotional products, brochures, and packaging is designed in an elegant black and white artistry. Black and white advertising is intended to strip away all the hype show quality intelligence behind the product. This marketing team spends large sums of money, time, and resources on the most effective way to market their.
Until recently is very rare to find commercial featuring any Bose product. Bose Corporation relied on advertising their products in height and entertainment magazines, selected direct marketing to businesses mostly, exclusive events over income individuals. Since the economic crisis of 2008 Bose Corporation has scrubbed all previous marketing strategies and his focus more on modern day advertising. Bose Corporation utilizes Backbone featuring the latest Bose products.
Commercials as well as infomercials can be seen on various channels. Bose Corporation still promotion of products in high-end tech magazines as well as direct mail marketing to high-end businesses. As a movie buff I have recognize Bose products in certain ways such as the Princess Diaries which feces the Bose Acoustic Wave music system. You can find Bose on Backbone, Twitter, Youth, Infomercials, TV ads, magazines, brochures, direct market mailing, in-store event promotional event, retail stores, Internet, Bose website, and more.
Bose over the past few years has named up advertising to recover the revenue losses it received in 2008. In 2010 Bose Corporation laid off more employees at one time than it had it opened their doors. 1000 employees lost their Jobs, mostly middle management. In conclusion, to be successful in business today an organization must effectively utilizing marketing mix when developing an ongoing progressive marketing strategy. In the past it was difficult to find Bose products because they were marketed toward middle to upper class consumers.
Since the economic crash of 2008 Bose Corporation has named up in marketing strategy focusing on competitive intelligence. Bose has effectively-marketed their brand within the current marketing channels are, I. E. Internet as well as social networking sites. Bose Corporation maintains strong ethical beliefs that they are producing laity products and has backed this up with excellent customer service as well as customer follow-up. Bose has maintained across all retail platforms a uniform pricing.
Bose will not allow the product to be discounted in any way Bose believe the customer is paying for quality merchandise an this merchandise should not be discounted. Bose has effectively-placed their products where customers can easily access them. Bose has in-store demonstrations set up at Best Buy, Target, Wall-Mart and, of course Bose retail stores. Bose products are also available via the Internet on Bose. Com as well as commercials. Over the years Bose has efficiently-marketed their packaging and advertising.