Case Study: Bose

- Helps to identify opportunities in the market place. - Minimize the risk of doing business. - Uncovers and identifies potential problems. - Create benchmarks and helps track progress. - Evaluating the success of the business.

By using Marketing strategy, organizations concentrate their resources on the greatest opportunities to increase sales and maintain a competitive advantage in its market (Wickipedia, pg1).Market segmentation is the process companies use to divide their market into groups of buyers and establish marketing tailored to individual groups. Market targeting is the process of actually choosing the market which poses the greatest profitability. Positioning involves product placement and helps marketers highlight their product over a competitor. The

It’s an effective way to speak directly to the customers’ needs, while offering them the right product solution.

As they explained, their Basic Beliefs are the Company’s values and principles that guide both strategic decisions and daily behavior. The Basic Beliefs are deeply rooted in the philosophy and heritage of the Company’s founder, the main purpose of these belief are Quality, People, Ethics, Growth, and Independence (Histories, 2007). These beliefs give the company an outstanding commitment with quality and excellence. The reputation and success are built on a foundation of quality that is applied to their brands, products, manufacturing methods, workers and customers. Their company growth is based in the commitment to balance their growth within prudent financial parameters. This balance growth enables them to both enhance their consumer franchise and provide a fair return to their shareholders. Therefore, their strategy to remain independent from short-term, help them to take decisions on a long-term perspective, they believe that thanks to this strategy and the hard work of their employees has made a huge difference in the company growth and economic

Their extensive research in market trends enables them to keep a step ahead of its competitors by constantly expanding to meet consumer needs.

As a result, the company focuses on its target markets and effectively delivers on its value proposition to satisfy its customer’s needs, wants, and demands.

products, have attracted a lot of customers throughout the world. The company has a huge

TI is aware that its customers depend on the company to assist them innovate and get to market first. The company, therefore, drive toward

To remain competitive a company must consider who their biggest competitors are while considering its own size and position in the industry. The company should develop a strategic advantage over their competitors’

The company aims at ensuring that they are recognized as a leading company in its industry and rise above the noise in the market that is caused by competition.

the introduction of new products. With its steady drive for improvement and consistently high quality,

Competitive strategy is the moves and methods that the firm has taken and is taking to appeal buyers, improve its market position, and to endure competitive pressures. The strategy is about what a firm’s capability to try to knock off competitors and attain competitive advantage, which can be offensive or defensive. There are three approaches to competitive strategy, which are low-cost leadership strategy where struggling to be the overall low-cost manufacturer in the in industry. Moreover, pursuing to distinguish one’s product offering from competitors (differentiation strategy), and the last one is focus or niche strategy where aiming on thin portion of the market rather than the whole market (Porter, 1998).

The company has also been accredited for having maintained a high degree of diversity coupled by its ability to maintain top quality in the standards of its products. Not only has the company retained a good reputation with its clients but also maintained an excellent corporate responsibility track record. This has built the public trust in the brand and is proud to be associated with it. To the wonder of many, the company has year over year continued to yield profits way over its competitors. To maintain such a success has been pre-determined by the way it has a strict, slow growth policy which ensures that it dominates a market before moving on to dominate another market, and despite the slow nature, the company has now emerged to be one of the fastest growing companies in the United States.

The company’s brand recognition is visible globally. It also possesses strong capital resources and has exhibited positive results to its shareholders in the past.

"Our emphasis on transparency and communication sets us apart from the prevalent family owned businesses operating in India at. Our emphasis on getting the employees' emotional buy-in into the company distinguishes us from the MNC's that have recently entered the Indian business scene."