Case Study - Bose

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Presentation Description

Competitive advantage

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Presentation Transcript

COMPETING BY TRULY BEING DIFFERENT:

COMPETING BY TRULY BEING DIFFERENT

Company Background – The Sultan of Sound:

Company Background – The Sultan of Sound In 2007 Forbes Magazine ranked Amar Bose, founder and CEO of Bose Corp., among the world’s wealthiest entrepreneurs and business leaders and named him as the 271st among America’s 400 wealthiest American billionaires. His success: his innate curiosity for the way things work (especially sound technology) and the constant need to improve and advance through study, research, and observation. When it comes to engineering, Bose affirms that his motto has always been about quality: "Do whatever it takes to make it better than it was before. If you do that, everything else [i.e., money] will come along." Dr. Amar Bose

Company Background:

Company Background Industry Information Address: The Mountain Framingham, Massachusetts 01701-9168 U.S.A. Statistics: Private Company Founded: 1964 Employees: 8,000 Sales: $1.1 billion (2000 est.) NAIC: 334310 Audio and Video Equipment Manufacturing

Company Background:

Company Background Product and Technology Specializes in manufacturing and installation of audio, home entertainment, automotive, aviation, space program, commercial setting ( stadiums, auditoriums, arenas, retail spaces and restaurants) Consumer Product

Company Background:

Company Background Bose Philosophy

Company Background – Bose Perspective :

Company Background – Bose Perspective Bose believes that audio products exist to provide music for everyone, everywhere--that music, not equipment, is the ultimate benefit. The Bose goal is to create products that combine high technology with simplicity and small size to create the best possible sound systems that are easy to use and accessible to all consumers.

Definition of Problem:

Definition of Problem How can Bose continuously improve its sustainable competitive edge as technological leader of acoustic science to achieve market growth in future

Time Setting:

Time Setting Year Description 1964 Founding of the Bose Corporation 1968 Company introduces the 901 direct/reflecting loudspeaker. 1975 Bookshelf Speaker a Bestseller, 301 Direct/Reflecting Speaker System. 1984 Developed Waveguide Speaker 1986 Launched Acoustimass ® Speaker 1987 Dr. Bose "Inventor of the Year" honors. 1998 AudioPilot ® Noise Compensation 2004 Driving the Future-unveiled the Automotive Suspension 2008 Bose Founder Honored

Point of view:

Point of view Bose have more than 17 million consumers who aspire to use the brand (compare to 7 million for next-highest Apple). These high level consumer trust result from philosophies that have guided Bose for more than 40 years We are not in it strictly to make money. Dr. Amar Bose is extremely eclectic in his research interest. The business is almost a secondary consideration. Forrester research (analysts): Bose President Bob Maresca

Statement of Relevant Facts:

Statement of Relevant Facts

Statement of Relevant Facts:

Statement of Relevant Facts Industries Where Bose Corporation Competes Audio Equipment Consumer Products Manufacturers Consumer Electronics Retail Non store Retail Internet Retail Bose Competitors KEF (Kent Engineering & Foundry) Innovators in Sound Anthony Gallo Tannoy Sony Pinoneer Koss Corporation Polk Audio, Inc. Harman Kardon (Design to Entertain)

Statement of Relevant Facts:

Statement of Relevant Facts Bose Product Lines Speakers: 901 Direct/Reflecting Speaker systems The 901 Series Direct/Reflecting ® speaker, brings the warmth, power and excitement of a concert hall to your home. Price : $1,398.95 Features Direct/Reflecting speaker technology blends reflected and direct sound to re-create much of a live concert's natural spaciousness. Active equalizer , engineered specifically to balances the output of all frequencies for natural tonal balance and clarity throughout the musical spectrum.

Statement of Relevant Facts:

Statement of Relevant Facts Headphones : A20 aviation headset Breakthrough innovations reduce more noise and provide even greater comfort, without compromising the clear audio. Plus, the Aviation Headset includes auxiliary audio input and Bluetooth phone connectivity . Price range $1,095.95 - $995.95 Features Significantly improved noise reduction . Bose innovations use microphones both inside and outside each earcup to sense and reduce more ambient aircraft noise. Redesigned ear cushions deliver greater comfort using new materials. Larger interior cavity, allowing more room for the ears, headset weight helps improve overall comfort and stability.

Statement of Relevant Facts:

Statement of Relevant Facts Automotive Suspension Goal: Passenger comfort and vehicle control. Comfort is provided by isolating the vehicle's passengers from road disturbances like bumps or potholes. Control is achieved by keeping the car body from rolling and pitching excessively, and maintaining good contact between the tire and the road. linear electromagnetic motors.

Statement of Relevant Facts:

Statement of Relevant Facts Bose Corporation financials and other business metrics

Statement of Relevant Facts:

Statement of Relevant Facts

Statement of Relevant Facts:

Statement of Relevant Facts

Areas of Consideration:

Areas of Consideration

Courses of Action:

Courses of Action

Recommendation Action to be taken:

Recommendation Action to be taken Through continuously developing innovative products to attract new users, new uses, and more usage of its products. Continually monitor emerging technologies to project when or if a particular feature would be a benefit that a wide range of customers would enjoy and use frequently Developing product in response to the changing needs of customer Innovative Business Model ( Bose Philosophy) Improve Customer Service

Expected Scenario Outcome:

Expected Scenario Outcome Increase Market share Bose : Better sound through research Converging Products Expansion of market Competitive Advantage

Innovations – The Breadth of Bose:

Innovations – The Breadth of Bose

Innovations:

Innovations Bose engineers have a unique challenge with every vehicle model: achieve the best sound possible for that specific acoustic space. Realizing this goal takes ongoing research, testing and specialized tools that fine-tune the listening experience. Discover the proprietary technologies that help transform a vehicle into a haven for music enjoyment. Fiat 500 Renault Megane Opel Ampera Chevrolet Volt

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