Being the leader in its area, I believe Bose would rather focus its attention on the products research and development than on analyzing any competitors, that if any exist. Bose started from scratch developing its own technology for the last 50 years, spending millions on research for one reason and that is to be the leader in its area. So for that I believe other companies are more likely to be analyzing Bose and its strategies. But if we assumed that Bose do analyze the competition then that could be to figure out what the competitors don’t provide in their products. By doing so Bose can make sure they are ahead of the game in providing the customers with high quality products that can’t be found in any other company. 2. Which of the texts three approaches to marketing strategy best describes Bose’s approach?
Considering the three marketing strategies entrepreneurial marketing, formulated marketing, and intrepreneurial marketing, we can say that entrepreneurial marketing strategy best describe Bose’s approach. We can see in Bose’s case that the strategy is primarily entrepreneurial from the beginning in 1950. Amar Bose, was an archetypical entrepreneur, he studied, experimented, and took his time to create a sound system which best showed his high standards. Also we can see the same by his attempt to learn how to communicate the quality of the 901 series to customers through specialized display and tactics to the customers to help them better understand the technology behind his products.
3. Using the Michael Porter and Treacy and Wiersema frameworks presented in the text, which basic competitive marketing strategies does Bose pursue.
Since Amar Bose is not so much concerned about costs but his primarily concern is differentiation, we can say that Bose pursue Michael Porter differentiation strategy. Porter states that...