Marketing Management Bose Corporation Essay

3558 words - 14 pages

Question 1: Based on the business philosophies of Amar Bose, how do you think the Bose Corporation goes about analyzing its competition?A company can has many competitors with the same industry, including direct and indirect competitors. At the narrowest level, a company can define its competitors as other companies offering similar products ad services to the same customers at similar prices (Kotler & Keller 2006). For Bose Corporation, it direct competitors can come from other companies that also focus on similar business areas that the company is currently focusing on, such as speakers, headphones, etc, with similar prices. But companies actually face a much wider range of competitors. Hence, Bose Corporation is facing much broader range of competitors including all of other companies that focus on consumer electronics and personal computer, and potential competitors.A company is more likely to be hurt by emerging competitors or new technologies than by current competitors. For example, this certainly has been true for Toys "R" Us and other major toy retailers (Hays 2003; Barbero 2004). In other words, it will be difficult to hurt or outdo competitors by following the existing technologies. Hence the business philosophies of Amar Bose-ignore existing technologies and started entirely from scratch by continually focusing on research and development that other companies do not have, can strongly construct the competitive competences of Bose Corporation. In addition, it seems other competitors within the industry strive to maximize profits, especially the short-term profits, while Bose Corporation focuses on the long-term profits by making outstanding products that will satisfy customers, guided by their own technologies.In addition, degree of globalization in the industry where Bose Corporation is currently competing is high. Hence Bose has also expanded its operations globally, such as in numerous Asia countries. In fact, companies in global industries need to compete on a global basis if they are to achieve economies of scale and keep up with the latest advances in technology (Porter 1980). Moreover, the market concept of competition reveals a broader set of actual and potential competitors. And marketers must overcome "marketing myopia" and stop defining competition in traditional category terms (Levitt 1960). For example, Coca-Cola, focused on its soft-drink business, missed seeing the market for coffee bars and fresh-fruit-juice bars that eventually impinged on its soft-drink business. Based on this point, Bose does not just focus on one type of product, for example, only focus on speaker or headphones, but rather Bose has a breadth of product lines (target a variety of applications) beyond its core home audio line.Question 2: Which of the three approaches to marketing strategy best describes Bose's approach?After analyzing the competition, this section focuses on discussing broad competitive marketing strategies by which Bose can gain...

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