Study Bay Coursework Assignment Writing Help
Introduction
Monster Cable products,Inc is the world’s leading high-end wire and advanced consumer electronics accessories manufacturer.Established in 2006 as the brainchild of legendary artist and producer Dr. Dre and Chairman of Interscope Geffen A&M Records Jimmy Iovine, Beats Electronics provides a premium sound experience at every touch point of the consumer’s life. It is the parent company of the Beat by Dr. Dreâ„¢ line of high-quality headphones, Beats Audio HD-sound systems, and the MOG digital music service.The company’s mission is to provide a superior end-to-end music experience – with headphones, devices and services – so fans feel the emotion and hear the music the way artists intended it to sound from the studio. This experience is aided by partnerships with HP, Chrysler Group and HTC Mobile. Led by Co-Founder & CEO Jimmy Iovine, Co-Founder Dr. Dre, and President & COO Luke Wood, Beats Electronics is based in Santa Monica.
SWOT Analysis
The SWOT analysis allows the company to analyze the internal and external factors that may influence the organization’s success
strengths
weaknesses
Opportunities
Threats
Monster Beats have a well known brand name in the world.Most of the world’s people like this brand, and even a lot of celebrities ambassador for the brand.Certainly,they also made a lot of advertising.Their publicity through music videos or other commercials.It makes them have a higher visibility.They also have high performance product.And their branch company distributed around the world.
Most important weakness of the Beats lineup is that comparative headphones from other brands are priced competitively. Most noise canceling headphones similar with Beats from Bose, Sony or Panasonic have standard retail costs from $100.00-$300 000. sold in various retail stores such as Futureshop and Best Buy. Beats face competition on a market populated by technology giants where quality is also valued by its consumers with a common lower price than Beats. Beats currently don’t have an entry level headphone that costs under $100 that will cater a specific target market with a tighter budget
Monster Beats by Dre have potential to tap into a larger market where customer’s needs are not met. These opportunities include Beats introducing a home theatre experience rather than a portable experience. This will allow Beats to create a need for consumers who would want wireless music in their home experiencing the music from home theatres or though video games. Listening at the comfort of home will expand Beat’s product lines and help establish Beats as a music company that supports home and outdoor music entertainment.
Monster Beats by Dre is threatened by the rapid change of technology. There will always be new substitutes for the Beats headphones with a better price manufactured by other companies. Companies such as Sony and Senheisser manufactures noise cancels headphones at a much cheaper price. Continuous emergent of new headphones will release new substitutes for the Beats headphones.
Environment factors
With the development of the times,more and more people use headphone.MP3 or mobile phone even computer,people will use headphone.However,the headphone not only ready to connected at any audio to listen to music ,it is also a kind of decoration ,which embodies the personal taste.Monster has a huge talent pool of more than 455 million copies of your resume,the leading provider of products and services for business users to meet their recruitment needs.Monster global network covering 26 countries and regions ,with different languages localized site.
Economic conditions
Take Monster 2007 economic income for example.iResearch finish display according to the earning report released by the U.S.Monster,and The 2007 quarter Monster show a continued growth trend in the first quarter of 2007 exceeded 300 million mark,reaching $329 million,growth of 10.2% to 2007.Q3Monster revenue has reached$337 million,growth of 1.8% year-on-year growth in the quarter, the highest value of the 18%.2007 Q4 Monster income reached $354 million .
Socio cultural conditions
In socio cultural conditions,beats headphones is world famous Tide brand headphone.I think heavy bass is most famous for beats headphones,this is one of the biggest selling point.Moreover,the world-famous singer Lady Gaga for the endorsement of the headphones,and personal design style.Novel appearance and powerful performance,attracting more and more consumers to buy.
Technology changes
Line”beats “of the invention to create a high-quality audio wire grades,which has brought revolutionary changes to the audio market.The company chose the “beats ” to name the product for two reasons.To its wire makes audio sound strong,broad range.Second,it is much bigger in size compared to its wire and ordinary wire”beats ” a product available that love to a high degree of consumer favorite.
Competitive Environment Analysis
Intensity of rivalry among competitors
At present a majority of companies are facing the same competition. There is an greatly high existing rivalry in the headphone industry. A majority of companies want their own brand to control the entire market. So they try to produce more high quality products to meet the needs of consumers.As a world famous brand,it has many competitors.Such as Sony is a strong opponent.This company has a long history and more loyal consumers.In appearance,the two companies has very fashionable appearance.However, in price Sony headphones price head is bigger than beats.In general, the two companies have the same strength.In addition, it also has many other competitors,just like audio-technica and Sennheiser.They are both strong competitors.So,the beats have a lot of competitive pressure in the headphone market.
The threat of new entrants
Facing a variety of brand competition,while there are many from the threat of new entrant.In general,in order to attract more consumers,the price of the new entrants will be cheaper.In the price,which is a great threat for them.Perhaps in terms of design, the new entrants will have a more innovative design.In any case, this is the threat that we cannot ignore.
The threat of substitutes
Nowadays,consumers do not necessarily think that the headphone is a necessity.Indoors,people prefer to use speakers,because they sound better and louder.Alternatives imitations is a big threat,the same appearance and cheaper price to deceive consumers to buy.This is not only reduces the original sale,but also loss of the company’s reputation.
Suppliers
Next, I would like to talk about supplier diversity. (“Supplier diversity,” ) Like many companies, Beats also needs a broad base of suppliers that actively and significantly support our business requirements .However,sometimes a product in short supply.This has lead to the consumers cannot in a timely buy headphones what they want to buy.
Customers
In sale,consumers are very important.Faced with a wide range of brand headphone,consumers have their own preference.How win a large number of consumers is also a big problem.Headphone industry to face the 20-30 year-old.Because of this,the design style also meet young people’s bent.
Resource Types
In terms of resource types,we have a number of advantages.This company’s products have the world’s most high-end of the wire,thus ensuring the high quality of the product.As a well-know headphone company, beats have a lot of loyal consumers,consumers prefer our products,they are not only fixed consumers,but also to bring us more new consumers.So,whether it is in the customer resource or product parts resources,Beats can be done well.
Firms Capabilities
Today,Beats had grown and diversified to become the world’s resolve high performance audio,video,car audio, computer,the bandstand and computer games connectivity leading manufacturers as well as an iPod & iPhone and professional audio and sound reinforcement equipment Annex areas leading innovator .In addition,it also belongs to its Monster Power brand,which the company is a high-performance audio,video system AC power line conditioning and protection products leading manufacturers.
