Bose’s Entrepreneurial Marketing Approach
1. Based on the business philosophies of Amar Bose, how do you think the Bose Corporation goes about analyzing its competition? I feel like Amar Bose views his only competition as himself. He is not looking to come out with a better, bigger or newer invention the another firm in the same market, but to come out with a product he is proud of and is just a little better then the last version he made. 2. Which of the texts three approaches to marketing strategy best describes Boses approach? Bose uses the Intrepreneurial Marketing approach were revenue is not the main focus, but the customer is. . Using the Michael Porter and Treacy and Wiersema frameworks presented in the text, which basic competitive marketing strategies does Bose pursue? Bose uses the competitive marketing strategy of listening to exactly what the customer needs but producing beyond the customer expectations. This leads to new customers to incredibly impressed and look to Bose for other audio purchasing and existing customers to continually be satisfied with products coming from Bose, creating an ever-growing loyal customer base. . What is Boses competitive position in its industry? Do its marketing strategies match this position? Bose is not exactly competitive in the market because they are not coming out with every gadget new known to woman, but instead continuously producing high quality products with satisfaction guaranteed. Therefore Bose is sticking to the marketing strategy of being customer focused. 5. In your opinion, is Bose a customer-centric company?
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Bose is absolutely customer centric, the definition is- Describing an organization that is operated from its customers’ point of view. Bose is always looking to provide a product the customer doesn’t even know they need until they see it or try it. A product produced by the Bose company is described as a product that changed the world, this is an incredible statement an done that shows Bose wants to provide the very best innovative item in their given market. 6. What will happen when Amar Bose leaves the company?
When Bose leaves the company he can only hope to find a successor who is as interested in the overall function of the product and customer satisfaction faction,as he. himself is. Profits meant nothing to Bose and he can credit his success to this because gain or loss he wanted to make the very best possible product available is any given field of his interest. It is highly unlikely the company will be as successful after Bose leaves, and with probably go public and become another cookie cutter firm looking at only the bottom line.