Marketing Mix of Bose and 4Ps (Updated 2023)

The marketing mix of Bose analyses the 4Ps of Bose’s marketing strategy, which includes the product, price, place, and promotion of Bose’s sound innovation. Bose Corporation is an American privately held company and a leading player in the audio equipment industry. The company is based in Framingham, Massachusetts, United States of America. Dr. Amar G. Bose, a Massachusetts Institute of Technology product, founded the company in 1964.

Bose is best known for manufacturing home audio systems, speakers, professional audio systems, noise-canceling headphones, and automobile sound systems. It specializes in wireless technology. The company also has to its credit R&D work in suspension technologies used for heavy-duty trucks and cars and the subject of cold fusion.

Its marketing efforts and strong R&D and acquisition skills have made it a global player in the wireless audio device market, with footprints in almost every country. It is formidable to its fans who say that Bose is to audio systems, what Microsoft’s reputation in the area is to operating systems, Intel is to microprocessor chips, and Google is to search engines.

Though there are a few other players in the segment, none offers the variety of products and premium brands Bose does.

Its chief competitors are as follows-

• Harman International Industries
• Sennheiser
• Apple Inc.
• Bluetooth Sig Inc.
• Sony Corporation

About Bose Corporation

• Type: Audio equipment manufacturing company
• Industry: Consumer electronics
• Founded: 1964
• Founder: Amar Bose
• Headquarters: Framingham, Massachusetts, United States
• Area served: Worldwide
• Key people: Lila Snyder, CEO
• Number of employees: Over 9,000

Bose Product Strategy

The wireless audio device market is relatively new. In this scenario, Bose has emerged as a prominent player in using wireless technologies in audio devices. Though other players are in the market, most focus on one or two products, such as headphones and sound bars. Bose has an edge over the others due to strong brand recognition and its sheer spectrum of products. It has also successfully delved into areas like suspension technologies for automobiles.

Bose’s new product mix in 2023 includes a variety of audio products, each designed to cater to different markets, consumer needs and preferences (Source):

1. QuietComfort Ultra Headphones: Bose’s flagship over-ear headphones are known for their immersive audio, world-class noise cancellation, and Custom Tune audio calibration for optimal sound performance.
2. QuietComfort Ultra Earbuds: These earbuds offer world-class noise cancellation and Custom Tune sound calibration technology. They are designed for improved far-end call quality, featuring dynamic microphone mixing and adaptive filters for straightforward voice pickup.
3. Bose QuietComfort Headphones: Replacing the QuietComfort 45 Headphones, these offer high-fidelity audio paired with legendary noise cancellation, adjustable noise cancellation levels, and custom modes. They come with multipoint Bluetooth 5.1 capability and up to 24 hours of battery life.
4. Bose Smart Ultra Soundbar: This product offers a high-quality audio experience for home entertainment systems.
5. Other Products: Bose’s lineup also includes various models of headphones, earbuds, speakers, and soundbars. Some notable ones are the Bose Sound Link Micro Bluetooth® Speaker, Bose Sound Link Flex Bluetooth Speaker, and Bose Sound Link Revolve II Bluetooth® Speaker.

These products feature a range of functionalities like noise cancellation, waterproofing, and compatibility with voice assistants, catering to activities such as music, TV and film, fitness, travel, and work.

Bose Place Strategy

Bose Corporation is a multinational company with a presence across the globe. It has 190 stores in the United States and numerous locations worldwide, including technologically advanced countries like Japan and Korea. For example, Britain has eleven standard Bose stores and few in the ‘factory outlet’ variety.

The following key points mark Bose’s place strategy:

1. Global Retail Presence: Bose products are available worldwide through a network of Bose retail stores, which allows for direct consumer engagement and brand experience.
2. Online Sales Channels: The company emphasizes its online presence, offering products through its e-commerce platform and other major online retailers, catering to the growing trend of digital shopping.
3. Authorized Dealers and Retail Partnerships: Bose collaborates with authorized dealers and retail partners, ensuring its products are widely accessible in different market segments.
4. Specialized Bose Showrooms: In selected locations, Bose operates showrooms that sell products and provide customers with an immersive experience of their advanced audio technology.
5. Selective Distribution: Bose employs a selective distribution strategy, placing its products in high-end electronic stores and other premium outlets to align with its brand image as a provider of quality audio products.

Bose Pricing Strategy

Bose Corporation caters to a niche target audience with minimal advertising and promotions. Its products are more highly priced than those of close competitors like Sony. However, it’s important to mention that most of its products are high-end because they are innovative and have excellent sound systems. The components and speakers also come at a high price.

Bose’s pricing strategy is characterized by a blend of premium and other brands and competitive pricing elements, reflecting its status as a leader in the audio equipment industry:

1. Premium Pricing: Bose employs an excellent pricing strategy for most of its products, emphasizing the high quality, advanced technology, and superior sound experience they offer. This strategy aligns with Bose’s brand image as a provider of high-end audio products.
2. Value-Based Pricing: The company sets prices based on consumers’ perceived value of its products. Bose invests heavily in research and development, leading to higher-priced innovative products.
3. Competitive Pricing in Selected Segments: While maintaining a premium image, Bose also uses competitive pricing for certain products, especially in highly competitive segments like earbuds and portable speakers.
4. Dynamic Pricing for New Launches: For new product launches, Bose may use active pricing strategies, initially setting higher prices that are gradually adjusted based on market response and competition.
5. Promotional Pricing and Bundles: Bose occasionally offers promotional pricing, discounts, and bundled offers, especially during holiday seasons or for online sales, to attract a broader customer base and encourage bulk purchases.

Bose’s pricing strategy reflects its commitment to quality and innovation while remaining responsive to market dynamics and consumer expectations.

Bose Promotion Strategy

Bose Corporation relies on a low-key advertising policy compared to its competitors in the industry or, for that matter, other similar multinational giants. The company’s primary marketing strategy is to make its products available to the consumer directly with no middlemen or resellers. To this end, Bose’s marketing strategy has focused on selling through exclusive stores that the company has set up. E-commerce websites are another option to make its products available to consumers.

The strategy of minimal advertising is a little surprising considering that in consumer durable goods segments, product features often undergo change, and companies and consumers need to communicate actively on the same. However, the company believes in targeting a niche market and holding people’s attention with its innovative and atypical products. Due to the company’s nature, competitors like Sony and LG are moving higher up the value chain and commanding more consumer attention. As a corporate brand, it is said to be a company that reinvests 100% of its profits back into the company for growth and development.

Some Recent Video ads and Print ads of Bose are:

QuietComfort Wireless Headphones – Smart Headphones | Bose (boseapac.com)

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