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JBL Marketing Strategies (Marketing Audit, Swot and Competitive Analysis)
JBL Marketing Strategies (Marketing Audit, Swot and Competitive Analysis)
JBL Marketing Strategies (Marketing Audit, Swot and Competitive Analysis)
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CONTENTS
Sr. Page
No Particulars No. Sign
1 Objectives 3
10 Recommendations 30
11 Bibliography 31
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Objectives
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Bluetooth Speakers Market Overview
Rising need for mobile infotainment systems is a key driver for
growing Bluetooth speakers market in India. The rising disposable
income, advancing wireless technology and rising smartphone
penetration pushed the demand for Bluetooth audio devices.
Bluetooth speakers provide wireless audio streaming. These
devices play media from a content source (tablet, laptop,
smartphone, or any Bluetooth enabled device). Most portable
Bluetooth devices include a rechargeable lithium polymer
battery. These speakers are portable, easy to use & carry, and
install.
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mid-range and premium. Small and sturdy Bluetooth speakers by
manufacturers such as BT50B by Phillips Corporation; and JBL Go
by Harman International Industries have gained traction among
millennials, due to its rigid design and clear sound clarity. These
speakers generally come under 2000rs and have an output power
range between 3W and 15W, which offers clear sound output to
users.
Growth Drivers
Restraints
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Reasons for Selecting JBL Products
JBL was founded in the year 1946. Therefore it has its presence
over the global markets for nearly 70+ years.
With its Presence in the market for such a long duration JBL has
established itself as a brand on which people can trust and rely
on.
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Jbl – Company Overview
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4) Technology Dominance – JBL has massed enough technical
expertise in the last 2 decades. Its product lines are constantly
changing with times and today the company has forayed into
Wireless and Bluetooth systems too. The connectivity of
different devices to the JBL speaker has been a highlight for the
wireless Bluetooth speakers.
5) Value for money – JBL speakers and audio systems have high
value for money with the kind of quality and performance they
offer. They have consistent performance with respect to pitch
and balance. The installation process is very easy and all
product lines come with THX loudspeaker standard
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reason consumers are able to easily buy substitute products without
hesitation.
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segment. The other end of the spectrum is already covered by audio
systems from Sony, Panasonic etc. This is a big threat because it
denies company entry into the other market segment.
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Key Success factors / Strengths of the Competitors :
1) BOSE –
Bose has never been an audiophile centric Company. Their focus
has always been on creating products that suit the requirements
of the consumers.
Bose envisioned to create a sound experience which is enjoyable
for a normal consumer. Due to which even historically bose has
never been critically acclaimed, but they have been consumer
centric and this has resulted into solid sales numbers across
globes for a long period now.
The legendary Bose 901 speakers were amazing and combined
with patented technologies, music just sounded, crisp, clear
and yes more ambient like.
This however doesn't mean it had the right tonal balance or was
sonically balanced. They just sounded full and satisfying to most
consumers.
As company grew it noticed consumers wanted smaller speakers
but without compromising on "fullness" and thus came out Wave
music system, Lifestyle Home theatre systems which were the
results of unique technologies like Truespace, waveguide, etc.
In the last few years Bose has been churning out even smaller
systems to suit different (mostly younger) demographics. Bose
sound link series, cinemate 1 SR , lifestyle 135 etc which although
sound good but they are no way near to the quality of
conventional audio systems. After Bose was completely taken
over by MIT (Yes Bose's majority of the working shares are with
Massachusetts Institute of Technology) it was expected exciting
new technologies in audio will pave way to innovative products
but that's yet to be seen.
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It's not downhill yet, Bose just looks stagnated in this very
competitive audio market. Bose customer service is still one of
the best and they stand by their products which is a rarity these
days.
2) Sony Corporation –
Sony is a brand that needs no introduction. For Indians, the
world electronics is synonym with Sony. We all know that when it
comes to electronics, Sony just stands out.
Sony produces almost a complete array of electrical equipment
and their distribution network is wide spread in the country.
Even at a small town if there is an electronic shop than you will
definitely a Sony product there.
Moreover, Sony has been present in the Indian market for ages
now and the products offered are considered durable and of
premium quality which is the most important factor for the
Indian consumer.
Creating such a mind-set among the Indians Sony has seen large
sales volume for all of their electronic devices.
And when it comes to audio equipment, Sony produces some of
the best home theatres, Bluetooth speakers, and headphones.
Also they offer speakers at a varied price points. This give the
option to buy Sony speakers to a larger scale of audience.
They sell entry level speakers for a price point of around 3000₹
which allows the price sensitive consumers in India to own their
Speakers.
Availability of products and huge channel of distribution are
other key factors of Sony’s growth in the speaker industry.
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Strengths in the SWOT Analysis of Philips :
Strong market position across all segments: Philips is present in
diversified segments; healthcare, lighting and consumer lifestyle.
This has landed Philips into top 100 world’s most valuable brands in
the world. It has a strong position in all the segments across the
world which gives significant bargaining power and wide customer
base.
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The built quality of the speaker is the main highlight in all the
major marketing ads of the product.
BOAT, MIVI –
Neither of the two brands are well established nor they
conduct their operations globally. Both, Boat and Mivi are local
speaker brands that do not have a huge distribution channel or
large marketing budgets.
Boat is a Mumbai based company which was started by an ex-
employee of Harman International viz. JBL’s parent company.
Boat is known for producing robust and splash proof design for
its speakers for a competitive price.
Boat has created a considerable market share for itself in e-
commerce sales as far as portable speaker under 5000₹ are
concerned.
MIVI is a Hyderabad based company conducting its locally in
India providing premium quality head phones and speaker
among different price caps.
Both MIVI and Boat considers its major target audience as
youths. To tap on to this audience both the companies have
built associations and collaboration networks.
They haven’t spent much for marketing via television and
outdoor marketing networks rather they have set focus on
social media and digital market as they are cost effective.
MIVI has created associations with social media influencers and
Youtube stars such as Bhuvan bam, Mumbiker Nikhil,
Beyounick, etc.
While Boat is spending much more in associations by signings
actors like Karthik Aryan, Jacqueline Fernandez & Cricketer
Hardik Pandya.
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Marketing Mix Of JBL
BL is an American origin company that is associated with the audio
electronics industry. It was founded in the year 1946 by its founder
James Bullough Lansing and hence the name of company JBL. The
company is a subsidiary of its parent company Harman International
and has dual independent divisions within itself JBL Professional and
JBL Consumer. Latter is associated with manufacturing and
producing of audio equipment to be used for consumer home
market and former offers professional equipment for cinema,
portable sound, tour sound and installed sound for a studio.
Wireless
Home Speakers
Portable Bluetooth-Speakers
Accessories
Wireless Headphones
Home Audio
Subwoofers
Wireless and Docks
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Home Theatre Systems
Soundbars
Loudspeakers
Computer Speakers
Headphones
Car Equipment
Connected Car
Car Component Systems
Car Speakers
Car Processors and Amplifiers
Car Subwoofers
JBL products can be easily obtained in places like South Africa, United
States, Mexico, Colombia, Canada and Brazil in Americas, China,
Australia, India, Malaysia, Japan, Thailand, Indonesia and New
Zealand in Asia-Pacific region and Austria, Norway, Germany, France
and United kingdom in Europe and Middle-eastern region. It has its
own website from where one can easily order a product and delivery
is assured as soon as possible. JBL is served by the help of a capable
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workforce that includes more than 12,000 employees for efficient
workings. With reference to the Indian market JBL has its presence in
every nooks and corners of the country. Majority of the people of
the age group below 30 at least know about JBL.
JBL’s USP as a brand has been that it offers products at each and
every price segment. As far as the Bluetooth speakers segment in
India is concerned it offers products from the price points of 1500₹
to 35000₹. Following is the portable speaker product line up of JBL at
different price levels –
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(3) JBL Flip – 5000₹ to 9000₹ (4) JBL Charge – 10,000₹ to 12,000₹
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Promotions in the Marketing Mix of JBL
From the Indian context JBL has been marketing its products through
associations with a few Known personnel. JBL has identified its brand
with individuals and created a mass market for its products. The
company has also roped in celebrities as its brand ambassadors.
Famous Indian music director and singer A. R. Rehman has become
associated with JBL to promote its brand. In 2014, JBL also had
associations with young Bollywood actors Arjun Kapoor and Parineeti
Chopra. In the year 2018 JBL associated with India’s ace badminton
player and Olympic silver medallist P.V. Sindhu to promote its sports-
wear Bluetooth earphones and on the go speakers. In September,
2018 it also signed Priyanka Chopra as global ambassador for all the
JBL products.
JBL launches online brand store in India on August 06, 2018. As part
of the inaugural promotion, two new JBL products — JBL Go +
Bluetooth speaker and JBL T205BT headphone were launched on this
website. JBL has decided to launch its own website because it is
increasingly finding counterfeit/deeply discounted JBL products
being sold on e-commerce marketplaces, Sumit Chauhan, Vice-
President — Lifestyle Audio, Harman India said, “JBL is the most
popular consumer audio brand in India. JBL.com will provide the best
price, expedite shipping and exclusive promotions for our customers.
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Importantly, consumers can be confident they are buying an
authentic product with professional after-sales support.”
Apart from JBL.com, Harman and JBL products are also sold online at
HarmanAudio.in, Samsung.com, Amazon, Flipkart, Paytm, Myntra,
Snapdeal, Tatacliq, Jabong and Headphone Zone. The share of e-
commerce in overall Harman — JBL Lifestyle products sales revenue
at present is approximately 50 per cent.
Bose is best known for the manufacture of home audio systems and
speakers, professional audio systems, noise cancelling headphones,
and automobile sound systems. It specialises in wireless technology.
The company also has to its credit R&D work in the areas of
suspension technologies used for heavy-duty trucks and cars, and the
subject of cold fusion.
Though there are few other players also in the segment, none of
them offers the variety of products Bose does.
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Product in the Marketing Mix of Bose :
Wireless audio device market is a relatively new market. In this
scenario, Bose has emerged as a prominent player in the use of
wireless technologies in audio devices. Though there are other
players in the market; most of them are focused on one or two
products such as headphones and sound bar. Bose has an edge over
the others due to the sheer spectrum of products offered by it. It has
also successfully delved into areas like suspension technologies for
automobiles.
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Bose Stores
Bose Factory Outlet
Bose Airport Kiosks
Bose Personal Audio Store
Bose Showcase Store
The type of products available in the stores may vary. For example,
an airport kiosk store will feature products suitable for a traveller like
a wireless headphone. A showcase store, on the other hand, will
have on display an entire line of innovative Bose products.
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Promotions in the Marketing Mix of Bose –
Bose Corporation relies on a low-key adverting 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 middleman or resellers.
One of the most recognized brand name in the world today. Sony
Corporation, established its India operations in 1994, focusing on the
sales and marketing of Sony products in thee country. In the span of
19 years, Sony India has emerged as digital lifestyle brand in the field
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of consumer electronics. With consistent commitment to quality and
dedicated customer satisfaction and high standards of service.
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Price in Marketing mix of Sony
Sony India will spend ₹ 200 cr. in this financial year on advertising
and promotion. The major elements of promotion mix include
advertising, personal selling, Sales promotion, direct marketing and
publicity. Sony Corporation has used all of these marketing
communication mix elements.
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Pitfalls in Marketing Strategies of JBL –
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enabled speakers, which were very late compared to the competitor
like Amazon echo.
3) Marketing the USP of the product to the point. Like the JBL GO-2
speakers are completely waterproof with IPx7 certification, than
such unique proposition should be mention as a tag line of the
particular product.
4) Since the target audience for portable speakers for JBL is youth
than getting associated with fresh faces to attract this audience is
also necessary. For example local brand like Boat are in association
with youth centric faces like Karthik Aryan, Jacqueline Fernandez and
Hardik Pandya.
6) JBL also needs to price its product in such a way that in the mind-
set of the customers there is no doubt about the fact that their
products are of superior quality. They can do this by not pricing their
products exorbitantly low.
7) Lastly, JBL needs to increase their social media presence and also
role out a T.V advertisement, as these options are currently
considered as the best options for marketing in India.
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Bibliography
1. www.transparencymarketresearch.com
2. www.marketing91.com
3. www.campaignindia.in
4. www.headphonezone.in
5. www.mbaskool.com
6. www.bharatbook.com
7. in.jbl.com
8. www.techradar.com
9. notesmatic.com/sony-marketing-mix-and-marketing-strategy/
10. www.thehindubusinessline.com
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