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SUMMARY
Established in 1925 by Peter Bang & Sven Olufsen in search of perfect radio Idea based product of high quality & aesthetics. Products included: TVs, Audio systems, Speakers, Telephones etc. High Price, Low Volume & High Margins Innovation w/o the fear of failure. Innovators & Designers had the full authority to tweak the process any time. Two types if stores: B1 Stores high rent locations, owned by dealers. 72% Total Revenue SIS set in places where B1 was not feasible. 28% revenue.
COMPETITIVE SITUATION
Dealing in only High end products, low volume but having perfection. Protected against imitators, because its too expensive and too complicated to copy B&O products. Not targeting mass market, and therefore not facing much competition from big players like Sony. Targeting only 3-5 % of customers, having passion for excellence.
COMPETITIVE ADVANTAGE
Enjoys Strong Customer loyalty , 25-30% revenue comes from existing customers. B &O Products have gained the reputation of Exquisite Products, as some of them have made its way to Museum of Modern Arts, New York.
FEAR FACTOR
Constant Innovation and Retention of Customers. Low Volume Production (20,000/Year). Currently Targeting only High end segment, in Economic Downturn they might loose the Market.
Ideas are accepted if it has substance followed by the product commitment (Financial and Technical considerations)
Product team will be formed if the product is feasible
DISADVANTAGES
Incurs more time and cost Convenience for employees
Imitation is difficult
Motivates and freedom to employees
IS IT SUSTAINABLE?
No, design driven approach is not sustainable. Not for the needs of the customer. Fierce competition from big players like Apple and Sony Consumer change to virtual environment. Traditional development method. No innovation in the development and design process
IDEALAB INITIATIVE
Created in early 2004 to explore extensions to B&Os product development process with an emphasis on computer technologies. People with different background business, design, software different countries. The extension of products helped generate additional revenue for the firm.
IDEALAB ASSESMENT
An important arm of B&O for generating newer ideas from existing products. A source of supplementary revenue to sustain in difficult times. Will help in tapping the untapped & uncontested market (Media convergence, Customer Behavior with Media etc.) Inter-Cultural Heat needs to be kept in check. Ideas can directly be presented to CTO & CEO if they didnt appeal to Design team.
GROUP 6 PRESENTATION ANIL BEHAL (11EMPDM196) Anurag Singh (11EMPDM197) ISHAN GARG (11EMPDM200) BHARTI VERMA (11EMPDM198) DEEPAK RAJA (11EMPDM199) AMIT KANABAR (11EMPDM195) KUMAR GAURAV (11EMPDM201)