Marketing Plan for Beats by Dre

Marketing Plan – Beats by Dre Speakers
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December 7, 2020
Beats by Dre is one of the most popular audio brands today. With a net worth of $820 million, this famous brand among music enthusiasts worldwide has shown its capacity to leverage a strategic marketing process to its advantage. Accordingly, this article would focus on the share-growth strategy that the company used to increase its market share. This includes different factors such as (1) the primary objective, (2) market characteristics, (3) competitor's characteristics, and (4) the firm's characteristics. All in all, the author believes that the company's marketing success is due to its focus on characteristics such as quality and emotional appeal and the use of influencer marketing to target its customer base.
Brand Analysis
Primary Objective
Beats by Dre is considered one of the 'lifestyle brands' that started in a relatively saturated market back in 2006. Back then, the earphone industry was already saturated by early and late adopters who used speakers (and earphones) for everyday use, including work and leisure. Nonetheless, the company did utilize a "flank attack" strategy wherein it focused on "attracting one or major segments" that had a different need from the mass market. Specifically, by marketing its products as something that focuses on "sound quality and emotion," they could attract music enthusiasts from around the world.
Today, the company still focuses on this consumer segment, especially the youth. Like what they did before, it also utilized the influencer marketing to attract new customers passionate about music CITATION War151 \l 1033 (Warc.com, 2015).
Market Characteristics
Similar to the company's primary objectives, the current market characteristics of Beats by Dre have also shifted with time. Initially, it started from a market wherein the needs of at least one segment were not met by the existing brands (i.e., audio quality). However, as time went by, more and more competitors have em...