Report for Beats
Lou Shiyu
History
In the world of headphones and speakers, Beats by Dr. Dre are well-known, even though the company is relatively young. The idea of the company came from the collaboration between Andre Young and Jimmy Iovine. Andre Young, better known as Dr. Dre, is a hip-hop artist and famous producer. Jimmy Iovine is also a producer and the chairman of Interscope Geffen A&M Records. Dr. Dre was approached to back Dr. Dre branded sneakers, but Iovine suggested speakers instead. Both men wanted to bring back the experience that music has to offer which had been lost due to a decline of audio quality. The company was established in 2006, and it released its first pair of headphones in 2008. Today, Beats offers a variety of sound systems, high-quality headphones, and operates a digital music service. Beats headphones include models such as, Pro, Studio, Wireless, Mxr, Solo (HD), and Executive. For earphones, Beats offers Tour, Powerbeats, Heartbeats, and Urbeats. The types of speakers offered by Beats include the Pill, the Beatbox, and the Beatbox Portable.
Beats by Dre has one storefront located in New York, New York, which was opened in 2011. Even though this is the company’s only store, Beats prod ucts are sold by number of other retailer whether in their stores or on their online sites. Some of these stores include Best Buy, Target, Nordstrom, Brookstone, and Walmart. In order to promote its products, Beats by Dre has used several celebrities, mainly popular artists. Musicians such as Nicki Minaj, Will.i.am, Lady Gaga, and Justin Bieber all have promoted the brand. Famous athletes, like Lebron James, also promote Beats products. These types of endorsements help create the strong brand image that Beats by Dre possesses.
Mission Statement
“The company's mission is to provide a superior end-to-end music experience - with headphones, devices and services - so fans feel the emotion and hear the music the way artists intended it to
sound from the studio.”
Beats by Dre is a well-known company providing customers a variety of headphones, earphones, and sound systems. Beats promotes the idea of music being an experience with the proper audio equipment. The company sells its products at one storefront, online, and through other authorized retailers.
In the future, Beats hopes to keep its strong brand image. Beats wants its customers to continue associating the company with high-quality products. Through the development of new products, Beats by Dre could also reach out to different target audiences in the future.
Beats by Dre’s main customers are music lovers. This group consists of people who enjoy listening with high-quality audio, aspiring artists and producers, and people in the music business. Beats customers pay higher prices than others, but they feel that owning a Beats product sets them apart and shows their appreciation for music.
In terms of capabilities, Beats by Dre can expand its reach by opening more retail stores. While the products are sold in other authorized retailers, Beats storefronts can express the company’s brand image more clearly than the other retailers.
To further the business, Beats by Dre wants to incorporate two new ideas. The first idea consists of a rental service for airplane flights. The second idea offers customers the option to personalize their Beats products.
