Bose Corp. Swot Analysis
Bose Corporation SWOT Analysis
Strengths
1. Technology Leadership- Over the years, Bose has acquired ground breaking technology that has allowed them to improve the sound and quality of their speaker systems. With these technological improvements, they have also been able to drastically reduce the size and weight of these various units in order to make them more convenient and accessible. This technology leadership has allowed Bose to build a very strong brand image in the marketplace and has also helped to establish them as a frontrunner in the audio systems market.
2. Positioning in Home Theatre Systems- Bose has long been recognized for their strong market position in the home theatre department. Their new line of Acoustic Wave® systems for the home has been recognized as some of the best in the world. They have been noted for their superior level of output and quality while remaining significantly smaller in size compared to their competitors. Having the advantage of leading this market position in such a fast growing industry is a major strength for the Bose Corporation.
3. Strong Brand Name- In the U.S., Bose has been recognized several times as having one of the strongest brand powers. They have also recently received the Distributed Audio Award for their components in 2004. Nearly 9 out of 10 people are aware of the Bose audio brand and associate the name with extreme sound and quality. To add to their brand image, Bose has also been recognized in dealing with some of the most widely acclaimed automobile manufacturers in the world.
Weaknesses
1. Lack of Size- Compared to other companies in the audio market, Bose is relatively small. The annual revenues of Bose are much lower than the revenues earned by other companies in the same market. Bose is forced to compete with larger players in the industry such as Sony and Pioneer who have a significant advantage with regards to their marketing, financial, and technological resources.
Strengths
1. Technology Leadership- Over the years, Bose has acquired ground breaking technology that has allowed them to improve the sound and quality of their speaker systems. With these technological improvements, they have also been able to drastically reduce the size and weight of these various units in order to make them more convenient and accessible. This technology leadership has allowed Bose to build a very strong brand image in the marketplace and has also helped to establish them as a frontrunner in the audio systems market.
2. Positioning in Home Theatre Systems- Bose has long been recognized for their strong market position in the home theatre department. Their new line of Acoustic Wave® systems for the home has been recognized as some of the best in the world. They have been noted for their superior level of output and quality while remaining significantly smaller in size compared to their competitors. Having the advantage of leading this market position in such a fast growing industry is a major strength for the Bose Corporation.
3. Strong Brand Name- In the U.S., Bose has been recognized several times as having one of the strongest brand powers. They have also recently received the Distributed Audio Award for their components in 2004. Nearly 9 out of 10 people are aware of the Bose audio brand and associate the name with extreme sound and quality. To add to their brand image, Bose has also been recognized in dealing with some of the most widely acclaimed automobile manufacturers in the world.
Weaknesses
1. Lack of Size- Compared to other companies in the audio market, Bose is relatively small. The annual revenues of Bose are much lower than the revenues earned by other companies in the same market. Bose is forced to compete with larger players in the industry such as Sony and Pioneer who have a significant advantage with regards to their marketing, financial, and technological resources.