Marketing Assignment 1
Marketing Assignment 1 Name: Kertna Tharmaraja
Student Number: 742220
Tutorial Day: Wednesday
Tutorial Time: 5:15pm-6:15pm
The positioning of products in an industry is a crucial process in market strategising as favourable positioning in the market over competitors has the potential to influence sales and revenue. Beats Electronics has achieved success in the early stages of the company’s start up, beginning with the release of high-end headphones, known as Beats by Dr. Dre. One of the major marketing concept implemented by Beats Electronics is the positioning of the company’s products. This essay will outline the concept of positioning deployed by Beats Electronics in terms of the company and it’s strategy, the reasons behind the application of positioning and the impact of positioning on business.
A major marketing concept derived from the success and sophistication of Beats Electronics in the market for personal audio electronics is the company’s apprehension of product positioning in the market. Solomon et al. (2014, p. 225) defines positioning as the “[development of] a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition.” This concept encompasses the company’s ability to tailor and manipulate marketing variables to successfully influence the target market of the product’s advantages over competitors and overall benefits (Soloman et al. 2014, p.225). According to Gerrit (2014, p.1), Beats Electronics is a company in the market of high-end audio systems which focuses on the three moieties; personal audio, audio software and online music streaming services. In conjunction with soaring product sales, it can be annotated that Beats Electronics monopolises the audio equipment industry targeted at today’s youth. With regard to positioning, Beats by Dr. Dre was positioned in the the remunerative industry of premium priced headphones targeted the youth.
Student Number: 742220
Tutorial Day: Wednesday
Tutorial Time: 5:15pm-6:15pm
The positioning of products in an industry is a crucial process in market strategising as favourable positioning in the market over competitors has the potential to influence sales and revenue. Beats Electronics has achieved success in the early stages of the company’s start up, beginning with the release of high-end headphones, known as Beats by Dr. Dre. One of the major marketing concept implemented by Beats Electronics is the positioning of the company’s products. This essay will outline the concept of positioning deployed by Beats Electronics in terms of the company and it’s strategy, the reasons behind the application of positioning and the impact of positioning on business.
A major marketing concept derived from the success and sophistication of Beats Electronics in the market for personal audio electronics is the company’s apprehension of product positioning in the market. Solomon et al. (2014, p. 225) defines positioning as the “[development of] a marketing strategy aimed at influencing how a particular market segment perceives a good or service in comparison to the competition.” This concept encompasses the company’s ability to tailor and manipulate marketing variables to successfully influence the target market of the product’s advantages over competitors and overall benefits (Soloman et al. 2014, p.225). According to Gerrit (2014, p.1), Beats Electronics is a company in the market of high-end audio systems which focuses on the three moieties; personal audio, audio software and online music streaming services. In conjunction with soaring product sales, it can be annotated that Beats Electronics monopolises the audio equipment industry targeted at today’s youth. With regard to positioning, Beats by Dr. Dre was positioned in the the remunerative industry of premium priced headphones targeted the youth.
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