A leading audio brand Beats by Dr. Dre (Beats) was founded in 2006 by Dr. Dre and Jimmy Iovine. The company 's product line is primarily focused on headphones, earphones and speakers. Beats creates a new generation to the possibilities of high-end quality sound entertainment. It 's products allow music lovers a full music experience with the capability of producing the songs as played from professional studios. This essay will analyze PEST, SWOT and marketing mix; identify the target market and evaluate the marketing strategy.
In Political Factors, as an international product with major markets outside the US, the trade relations with countries like Russia and China play an important role for the success of Beats Electronics. Good trade relationships …show more content…
In geographic, the major markets are in Europe and Asia. There are three methods to determine the price of the product: cost-plus, competitiveness and value-basis. For cost-plus, as the cost of beats’ product increase, the price of the product will rise at the same time. In terms of competitiveness, if the price of beats’ products are much higher than the average level of the market, which means they will lose a lot of market share because people are not able to pay for that kind of products. Therefore, if a company want to keep a appropriate market share through out the industry, they need to set a competitive price which enables them to gain profits and are affordable for consumers. As for its packaging, they are of the uniform promotion standards and are packed with good quality hard paper case. They are not only uniquely brand identified, but also well-protected. In addition, every box of the beats’ product contains the image of the product, the guidelines, and their multimedia usage for the product. In a retail chain, place plays a significant role in sales because place is one of the channels that customer can get touched with the products. Therefore, places should be considered carefully for the directors of the company. As for beats, what they should consider for their place first is their product positioning. As the technology improved, online shopping should also be a good place for them to consider because people use internet more often that before and it is also a feasible way to reduce the
In Political Factors, as an international product with major markets outside the US, the trade relations with countries like Russia and China play an important role for the success of Beats Electronics. Good trade relationships …show more content…
In geographic, the major markets are in Europe and Asia. There are three methods to determine the price of the product: cost-plus, competitiveness and value-basis. For cost-plus, as the cost of beats’ product increase, the price of the product will rise at the same time. In terms of competitiveness, if the price of beats’ products are much higher than the average level of the market, which means they will lose a lot of market share because people are not able to pay for that kind of products. Therefore, if a company want to keep a appropriate market share through out the industry, they need to set a competitive price which enables them to gain profits and are affordable for consumers. As for its packaging, they are of the uniform promotion standards and are packed with good quality hard paper case. They are not only uniquely brand identified, but also well-protected. In addition, every box of the beats’ product contains the image of the product, the guidelines, and their multimedia usage for the product. In a retail chain, place plays a significant role in sales because place is one of the channels that customer can get touched with the products. Therefore, places should be considered carefully for the directors of the company. As for beats, what they should consider for their place first is their product positioning. As the technology improved, online shopping should also be a good place for them to consider because people use internet more often that before and it is also a feasible way to reduce the