Marketing Plan for Beats by Dre Speakers

Marketing Plan for Beats by Dre Speakers Pascaline Nwokoma Maryville University May 12th, 2019 Marketing Plan for Beats by Dre Speakers Augmented Product Beats by Dre speakers portrays a number of value added features, which may or may not necessarily require customers to pay for at an extra cost. This concept, known as “Augmented Product” was first coined by Philip Kotler who recognized that the target market have five different levels of needs that range from core/functional to emotional needs and wants (Karan, 2011). This concept is often difficult to implement in many businesses, and classifying the products based on customer segments makes it easier to meet most of the customers’ demands. Since different customers would have different needs, Beats by Dre speakers are in attractive packaging and in different colors to match with each customer’s needs and wants. The speakers will have important product features such as means of charging the long-lasting battery that comes installed in the product, USB port and Bluetooth technology to facilitate sharing of music between different devices, and an SD slot that customers will be able to insert their memory card readers to play music. An internal storage ranging from 16GB to 128 GB will also be included. A one-year warranty and an offer to repair the speakers after sales will attract more consumers to make purchases. Branding strategies Another important aspect to include in Beats by Dre speakers marketing plan is branding strategies that will help the company differentiate from rivals such as Sony and Panasonic. The name “Beats by Dre” and the logo or symbol is already popular, which means such a brand will simplify marketing and enhance consumer confidence. While Beats by Dre headphones have been around for some time, the use of brand extension strategy that involves using a family brand name of another established product will be an advantage to the entry of the speakers. Choosing a name reflecting local branding might also be challenging because it will take enormous efforts to market under a new name (Ferrell & Hartline, 2014). Global branding strategy of the name “Beats by Dre” speakers will be a success due to international present of other products with the name. Packaging Effective packaging of products serves to protect, facilitate their utilization, promote the product, and offer information in regards to its features and use (Pride, Hughes & Kapoor, 2013). Shipping electronics oversees require durable packaging to avoid damage and Beats by Dre speakers will be packaged with this factor in mind. Customers will be able to receive their packages intact, but if damaged during shipping, they will be required to return and apply for a refund or a replacement. Packing will also be critical with the speakers because they will be in different colors and internal storage capacities. Information regarding these features will be indicated for customers to read and know what their purchases will consi...