Introduction of Group Project
Founded in 1964 by Dr. Amar Bose, Bose Corporation is a company pioneering in perfecting the quality of sound heard through speakers. Through the years, Bose has become an industry leader by developing innovative products such as the Bookshelf Speaker, Wave Music System, and Bose Suspension System. In 2008, Dr. Amar Bose was inducted into the National Inventors Hall of Fame for “significantly influenced influencing the quality of how we live.” Bose’s product line ranges from products for pilots, electroforce test instruments, homebuilding/remodeling solutions. Its main products are in professional sound solutions. Bose is a private company headquartered in Framingham, MA, and is continuously discovering breakthrough products to improve the consumers’ quality of life all over the world.
Industry, Offerings, & Target Market
The Bose Ride System is a one of a kind product. However, mMost people would probably try to compare it to Air Ride, a suspension system that offers a smoother ride for truckers. The NAICS code that would fit particular to the Bose Ride System is 336630: Motor Vehicle Seating and Interior Trim Manufacturing. Because the Bose Ride System is a seat, it is quite obvious that the NAICS code would be motor vehicle seating. The Automobile Seating Industry segment for Air Ride seats comprises of about 8 key companies: Bostrom Seating, Comfort Ride USA, Knoedler Manufacturers, National Seating, Recaro, Sears Seating, Seats, Inc., and Wise Seating. Total industry revenue in 2009 totaled $15.039 billion.
Bose Corporation is generally known for its impeccable speaker systems and surround sound units, however, it is currently trying to penetrate different markets and the auto market is one of them. Their Automotive Systems Division is constantly innovating and researching to improve upon their current suspension system for vehicles. Because consumer comfort and quality of life is are what Bose tries to improve, they have minimized this suspension unit to introduce the Bose Ride System. It is a seat suspension unit designed to reduce the soreness and fatigue experienced by long-haul drivers. The Bose Ride System will be available beginning March, 2010.
Currently it will be available only through a special sales team. Due to the newness of the product, Bose will only allow the Ride System to be sold as an after-market product. The seat is designed to help lessen the feel of bumps and vibrations in the road and to relieve fatigue that comes on when after driving for long periods of time. For the long term, this product will help those who have occupations in driving thus to have lessening back pain and boy wear than when using the common Air Ride system. Bose has specifically targeted the trucking fleet market where they can sell the seat to trucking companies such as freighters and FedEx, etc, and thus the end user would be the consumer. In the future, the seat may be available for small cars, consumers, and maybe even the airline industry; however, for now, Bose is limiting the availability to truck fleets.
Mission and Long-Term Goals
Bose Corporation’s mission is "Committed to encouraging innovation, creating value for customers, and having passion for what we do." Over the years, the accolades that Bose has attained, such as Inventor of the Year (1987) and Product of the Year (1998), further exemplify the company’s mission. Bose is privately held with a goal of reinvesting profits into the corporation for R&D, so there is not necessarily a corporate goal. Based on this, it is safe to assume that the company’s long term goals are in line with researching and developing products that will facilitate the lifestyles of consumers.
The Bose Ride System will help meet Bose’s mission of creating value for customers through the lessening of back pain and fatigue of the end user. Through interviews with...
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