The Selmer Company‚ new owners of Steinway & Sons‚ must decide whether or not Steinway should continue to focus on its high-end‚ niche strategy of being the preeminent maker of high quality vertical and grand pianos or do a 360 and take on a bold and aggressive approach. For several years now‚ Steinway’s brand and reputation had suffered due the popularity of electronic keyboards‚ expansion of their dealer network and some modernization methods to the manufacturing of the product. As a result‚ poor
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as a manufacturer of High Quality Piano’s? Ans 1: Steinway has a reputation for creating high quality products. The company’s products score very high on 5 dimensions of quality‚ Performance‚ Reliability‚ Durability‚ Aesthetics and Perceived quality. The factors behind the high quality products of Steinway are 1) Steinway maintained a good relationship with artists‚ and had a list of approved artists who were eligible for Steinway Concert service under which the company provided pianos
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Revised January 21‚ 1997 Steinway & Sons (A) A Steinway is a Steinway. . . . There is no such thing as a “better” Steinway. Each and every Steinway is the best Steinway. Theodore Steinway The 1990s was a period of change for the music industry. Foreign competition in the mid-price upright piano market was intense. In addition to well-entrenched players from Japan (Yamaha and Kawai)‚ two South Korean firms (Young Chang and Samick)‚ were emerging as competitors. Moreover‚ Yamaha and Young Chang
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competitors like Yamaha‚ Kawai. 3 Why does Steinway & Sons feel threatened by the Japanese competitors who are practically in a different market in terms of price‚ reputation‚ and available models? ² Japanese competitors like Yamaha‚ Kawai has sold pianos in the United States since 1960 and remains the preferred brand for top jazz and pop artists. But in the late 1980s‚ Yamaha chose to enter the concert piano market in direct competition with Steinway. Developing grand pianos which are comparable
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In 1972‚ three friends who were running a sardine and pickle store in Queens‚ New York City‚ started up a beverage company to sell apple juice. After 20 years’ development‚ the annual sales of this company were growing from $4 million (1984) to $674 million (1994)‚ increasing 168 folds. “Snapple” became a well-known beverage brand. Through analysis of Snapple’s marketing mix‚ we can peek at the reasons why Snapple can achieve such successes 1) Product. Snapple’s major product is a bottled apple
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Case of Steinway & Sons: Buying a Legend In the case of Steinway & Sons‚ two investment bankers‚ Dana Messina and Kyle Kirkland are faced with the question of how to build on the business. Steinway & Sons was established in 1853 in New York City‚ by Henry Engelhard Steinway‚ a German immigrant who became well known for his technical excellence in piano production. It is a 140 year old company‚ and has been recognized as a leader in the market for high quality grand pianos. The primary problem
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International Strategy individual assignment Wang Hanzi Steinway & Sons: Buying a Legend 8th Nov. 2011 1) Historically‚ why has Steinway been successful? • For 140 years‚ Steinway & Son has been recognized as a leader in the market for high-quality grand pianos. In 1854‚ it introduced the cross-stringing technique in a piano with a cast-iron frame‚ an innovation that is now universal in all grand pianos. Based on these technical advances‚ order grew rapidly. • Steinway also emphasis on
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Steinway & Sons was founded in 1853 by German immigrant Henry Engelhard Steinway in a Manhattan loft on Varick Street. Henry was a master cabinet maker who built his first piano in the kitchen of his Seesen‚ Germany home. The first piano produced by the company‚ serial number 483‚ was sold to a New York family for $500. It is now displayed at the Metropolitan Museum of Art. Over the next forty years‚ Henry and his sons‚ Henry‚ Jr.‚ Albert‚ C.F. Theodore‚ William‚ and Charles developed the modern
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Steinway & Sons: Buying a Legend(A) ¢ñ. Statement of Problems and Issues Summary For 140 years‚ Steinway & Sons has set the standard for the quality manufacture of pianos. Why is Steinway legend? What made it so a great master? After first step into piano industry ¡°Steinway¡± and the word piano are almost synonymous. Working a long-term ¨C and still going- technical and market strategy that emphasized quality is to say‚ since the first Steinway family members arrived in New York from Germany
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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
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