Steinway&Sons – strategic management
Steinway&Sons – strategic management
Steinway’s background
Steinway&Sons had long been recognized as a leader in the market for high-quality pianos. Their motto still follows its founder’s word. He said “Build the best piano possible. Sell it at the lowest price consistent with quality.” For thesedays, technical excellence continued to be emphasized, with members of the firm taking out over 100 patents in piano making. They have three lines which is grand piano, vertical piano, and Boston piano. Among those, they are the strongest producer of grand piano line.
Q1. Major players & scope of the industry & 5 forces model
The major players are Baldwin, Yamaha, Kawai, etc, and I will discuss below in 5 forces model section of Industrial rivalry. Scope of the industry includes vertical pianos and grand pianos. In Steinway, they manufacture verticals, grands, and concert grand pianos. The scale of sales in U.S. is showed below.
Also, the worldwide market for Vertical and Grand Pianos in 1994 is below.
Diverse country has demand for pianos. Especially emerging market such as South Korea, China, etc. occupied huge percentage of whole demand. Scope of industry is getting bigger, and there are lots of competitors who want to sell not only Verticals but also Grands.
1. Industrial rivalry
There are Baldwin, Kimball, Yamaha, Kawai, Bosendorfer, Fazioli, Young Chang, Samick, etc. However, there are primarily three competitors(Baldwin, Yamaha, Kawai) and high-end piano competitor(Bosendorfer, Fazioli) regarding Steinway is mainly standing in the grand piano market.
Baldwin
Baldwin developed a broad line of piano. These ranged from relatively inexpensive verticals and small grand pianos, manufactured in automated production facilities, to handcrafted concert grand pianos which were well respected by musicians. Baldwin concert grand piano were chosen by artists, as well as the official organizations such as the Boston, Chicago, and Philadelphia
Steinway’s background
Steinway&Sons had long been recognized as a leader in the market for high-quality pianos. Their motto still follows its founder’s word. He said “Build the best piano possible. Sell it at the lowest price consistent with quality.” For thesedays, technical excellence continued to be emphasized, with members of the firm taking out over 100 patents in piano making. They have three lines which is grand piano, vertical piano, and Boston piano. Among those, they are the strongest producer of grand piano line.
Q1. Major players & scope of the industry & 5 forces model
The major players are Baldwin, Yamaha, Kawai, etc, and I will discuss below in 5 forces model section of Industrial rivalry. Scope of the industry includes vertical pianos and grand pianos. In Steinway, they manufacture verticals, grands, and concert grand pianos. The scale of sales in U.S. is showed below.
Also, the worldwide market for Vertical and Grand Pianos in 1994 is below.
Diverse country has demand for pianos. Especially emerging market such as South Korea, China, etc. occupied huge percentage of whole demand. Scope of industry is getting bigger, and there are lots of competitors who want to sell not only Verticals but also Grands.
1. Industrial rivalry
There are Baldwin, Kimball, Yamaha, Kawai, Bosendorfer, Fazioli, Young Chang, Samick, etc. However, there are primarily three competitors(Baldwin, Yamaha, Kawai) and high-end piano competitor(Bosendorfer, Fazioli) regarding Steinway is mainly standing in the grand piano market.
Baldwin
Baldwin developed a broad line of piano. These ranged from relatively inexpensive verticals and small grand pianos, manufactured in automated production facilities, to handcrafted concert grand pianos which were well respected by musicians. Baldwin concert grand piano were chosen by artists, as well as the official organizations such as the Boston, Chicago, and Philadelphia