With this much brand recognition, Monster has been able to form strategic alliances with other companies, by supplying them with component parts. Companies such as computer manufacturer HP, automobile maker Chrysler and cell phone company HTC all use Monster's Beat by Dre speakers in some of their product lines. These companies recognize that Monster's popularity and superior audio can be a selling point for their products to consumers, giving them an effective niche advantage. However Monster is not just a producer in the business to business market, it is also a consumer. Since Monster does not make any raw materials, they must order them from another companies. Raw Materials such as copper wiring, rubber, plastic, dielectric to even special machinery use to make their high performance cables must be ordered from outside vendors. This practice is common with most manufacturers. Automobile manufacturers don't make steel or paint so they order it from company that do.
Friday, December 2, 2011
Chapter-7: Business Marketing
Monster Cable specializes in high performance. This makes their products a must have for business owners, since the company has always had a history of quality and reliability. Monster has a section on their web site dedicated to testimonials. These testimonies are from DJ's, Musicians, Sound Engineers, to even custom auto shop owners. Each profess the importants of sound quality, and that the only products they rely on to supply their businesses are from Monster. DJ's use Monster Cables when setting up their equipment at clubs, as well as Sound Engineers when hooking up speakers in stadiums at concerts or private studios. The owner of West Coast Customs a customs auto shop Ryan Friedlinghaus says he only uses Monster audio products for his cars.
With this much brand recognition, Monster has been able to form strategic alliances with other companies, by supplying them with component parts. Companies such as computer manufacturer HP, automobile maker Chrysler and cell phone company HTC all use Monster's Beat by Dre speakers in some of their product lines. These companies recognize that Monster's popularity and superior audio can be a selling point for their products to consumers, giving them an effective niche advantage. However Monster is not just a producer in the business to business market, it is also a consumer. Since Monster does not make any raw materials, they must order them from another companies. Raw Materials such as copper wiring, rubber, plastic, dielectric to even special machinery use to make their high performance cables must be ordered from outside vendors. This practice is common with most manufacturers. Automobile manufacturers don't make steel or paint so they order it from company that do.
With this much brand recognition, Monster has been able to form strategic alliances with other companies, by supplying them with component parts. Companies such as computer manufacturer HP, automobile maker Chrysler and cell phone company HTC all use Monster's Beat by Dre speakers in some of their product lines. These companies recognize that Monster's popularity and superior audio can be a selling point for their products to consumers, giving them an effective niche advantage. However Monster is not just a producer in the business to business market, it is also a consumer. Since Monster does not make any raw materials, they must order them from another companies. Raw Materials such as copper wiring, rubber, plastic, dielectric to even special machinery use to make their high performance cables must be ordered from outside vendors. This practice is common with most manufacturers. Automobile manufacturers don't make steel or paint so they order it from company that do.
Wednesday, November 23, 2011
Chapter-8 Segmenting and Targeting Markets
Monster does a great job at market segmentation. They are able to create a need for products based on different subgroup's desire for high quality, for example their line of HDMI cables. HDMI cables are a combination of high definition audio and video cables in a single cord. Before the creation of HDMI cables, consumers would have to use several different wires for each output in order to get high definition, creating a maze of loose wire behind their entertainment centers.
Although it more expensive, the HDMI cable eliminates this mess, and has since become the preferred cable among consumers. There is a HDMI output slot on just about every video device from blu-ray players to gaming consoles. Eventhough manufacturers of the these device never suggest getting any specialized HDMI cable, Monster caters to owners of each device by creating a line of HDMI cables that vary in performance. Monster HDMI cables for gaming consoles (M1000) is said to process digital video and audio at speeds of 17.8 gbps (Giga-Bits-Per-Second), much higher than that of their standard HDMI cable (the M650 is only 13.8gbps). These specifications may not appeal to the average consumers, however to the gaming subculture the difference in quality will increase their playing experience.
Monster also uses demographic segmentation, such as age and gender. In regard to age, Monster typical target market is to Generation Xers and Yers. They cater to these groups because they have the most disposable income. Monster makes accessories for electronic product that are vital in today's pop culture, such as apple's ipod. In Monster advertisements for headphones, they usually feature active young adult, appeal to Gen Yers. When advertising to Gen Xers, Monster show ads of families together enjoying there product, as seen on their website. There has yet to be any advertising for baby boomer or children, but who know what the future holds. Monster will probably come out with a line of high definition hearing aid if the market called for one.
Although Monster's product are unisex, they are largely consider male oriented, since most of their endorsements, reviews or co-signs are from the male perspective. To change this perception, Monster offers alternates color like pink to products. They also use advertisement with women going about their normal activities, such as the case with their new line of headphones Purity featuring ballet dancer Lara Turk.
However, Monster does have a few products that are marketed to females such as Gwen Stefani's Harajuku loves line, Lady Gaga's Heartbeats and Monster Butterfly from Vivienne Tam. The Harajuku in-ear headphones features exterior doll like shape. Monster Butterfly has a butterfly, while Heartbeats generation one feature a jewel encrusted exterior.
Although it more expensive, the HDMI cable eliminates this mess, and has since become the preferred cable among consumers. There is a HDMI output slot on just about every video device from blu-ray players to gaming consoles. Eventhough manufacturers of the these device never suggest getting any specialized HDMI cable, Monster caters to owners of each device by creating a line of HDMI cables that vary in performance. Monster HDMI cables for gaming consoles (M1000) is said to process digital video and audio at speeds of 17.8 gbps (Giga-Bits-Per-Second), much higher than that of their standard HDMI cable (the M650 is only 13.8gbps). These specifications may not appeal to the average consumers, however to the gaming subculture the difference in quality will increase their playing experience.
Monster also uses demographic segmentation, such as age and gender. In regard to age, Monster typical target market is to Generation Xers and Yers. They cater to these groups because they have the most disposable income. Monster makes accessories for electronic product that are vital in today's pop culture, such as apple's ipod. In Monster advertisements for headphones, they usually feature active young adult, appeal to Gen Yers. When advertising to Gen Xers, Monster show ads of families together enjoying there product, as seen on their website. There has yet to be any advertising for baby boomer or children, but who know what the future holds. Monster will probably come out with a line of high definition hearing aid if the market called for one.
Although Monster's product are unisex, they are largely consider male oriented, since most of their endorsements, reviews or co-signs are from the male perspective. To change this perception, Monster offers alternates color like pink to products. They also use advertisement with women going about their normal activities, such as the case with their new line of headphones Purity featuring ballet dancer Lara Turk.
However, Monster does have a few products that are marketed to females such as Gwen Stefani's Harajuku loves line, Lady Gaga's Heartbeats and Monster Butterfly from Vivienne Tam. The Harajuku in-ear headphones features exterior doll like shape. Monster Butterfly has a butterfly, while Heartbeats generation one feature a jewel encrusted exterior.
Friday, November 18, 2011
Chapter-11 Developing and Managing product
As noted in chapter 11 of the MKTG text book, new products are important to sustain growth and profits for businesses. And with that said, Monster Cable continues to diversify their headphone line with the new and soon to be release NCredible line of headphone. The NCredible product line is a joint venture with entertainer Nick Cannon. NCredible should not be consider "new to the world" , but rather a revision to an existing line (namely Best by Dre), marketed to the youth. The NCredible line will feature the same signature Monster sound that is available with the Beats by Dre line, which caters to music with heavy baselines, however at a more affordable price ($70 to $170). The NCredible line will have it own unique design, such as lights that flash during playback for the NTune headset, and magnetic claps for the Neregy in-ear phones. When not use, the user can use the magnetic clap to form a necklace around their neck to, so they won't have to stuff the product in the pockets. The ear buds will also feature the Monster signature tangle-free cables.
As of now, the NCredible line is in the commercialization stage of the product development process, because it was recently introduce at this years CES convention. Nick Cannnon and Monster have both begun using word-of-mouth communication to raise interest by consumers for the line via social media (i.e Monster's Twitter page) and interviews. In regards to the products life cycle, the NCredible is barely in the introductory stage, so it is going to be hard to tell how long this product will last. However, if the concept was to mimic the successful Beats by Dre line (but for kids), then it could be said that the PLC will last quite so time, since the Beats by Dre show no sign of decline. Monster has become a master at developing and managing their products. Their pairing of celebrity endorsement products with their quality sound is a tried and true method. They created a way to constantly reintroduce their brand to newer consumers. By creating a product aimed at younger audiences, Monster is able to ensure the company's legacy, by keeping future generation familiar with their brand. This is what I believe the purpose of the NCredible line is for.
Monday, November 14, 2011
Extra Posting: Holiday Special Offers
At this time, Monster Cable has not posted any particular advertisement for their products for the holidays on their website. Instead Monster has create an email list to keep consumers up to date on future holiday offers. All customers have to do is input their email address into the form located on the lower half of home page of Monster's website.
Friday, November 11, 2011
Chapter-16 Integrated Marketing Communication
- Attention- Monster creates a headphone line that's is based of the future style from the movie Tron: Legacy. The headphone even glows like the outfits in the film. There is also a limited edition endorsed by the techno group Daft Punk, the artists behind the soundtrack to the movie.
- Interest- Monster will peak the interest of consumers with their claim that the headset will enhance the sound quality of electronic music and video games. Fans can get a chance at owning a limited pair from the Daft Punks. And to help advertise, Monster has a web page dedicate for the Tron:Legacy products. This will give consumers the chance to view all the products available as well as some specifications. The web page looks strikingly similar to the movie's web page.
- Desire- Fans of the both the movie and video games will more than likely be drawn to purchase these items for the simple fact that the product may improve their experience with games, as well as owning something that look like its from the movie itself. Consumers will have a reason to believe the claims of enhancements, since the product is made from a company that is world renown for quality in sound.
- Action- Monster provides live demonstration at conventions to back up their claims. Also, with viral testimonials on YouTube to motivate potential buyers, when the product becomes available. This also factors in a bit of the pull strategy in which Monster's promotion to consumers causes the consumer to demand the product from the retailer like Target or Best Buy. The retailer then has to order the product in order to meet the demand.
Thursday, November 3, 2011
Chapter-10 Product Concept
Monster's brand fit the charactertics types of a specialty product. Their family brands can only be purchase at a few authorized outlets. Consumers are willing to pay higher prices in order to get the special quality that Monster's products offer. Their products are sought out by consumers that are serious about their own electronics as seen in a episode from Street Customs a show about car customizations. In the episode owner Ryan expresses his love for Monster's products and that it is the only audio cable they use in their custom cars assembly. Monster's product mix has great depth as noted in one of my earlier posting. When Apple announed its newest iPhone the 4S, Monster begin advertising a slew of their products that were already available, and compatable with the 4S. The same can be said with video game console to which Monster dedicated a portion of the website to. Monster product mix extend beyond just cable and headphones. Monster's line also includes screen cleaners, 3D glasses, ethernet networks and power surge protecters. Monster even paired with WestCoast Customs to create a car care line.
In order to stay current, Monster constently modify its products style and qualtiy by offering different variations to their products, such as with their M series of HDMI cables. Each cable while boast superior video quality, but varies in output capabilabity. The M650 HDMI cable ($90) caters to standard HD viewing while the M1000 ($150) line caters to hardcore gamers. And of course, Monster offer a cable that can do both functions and perform at a higher rate if the consumer is willing to spend a little more (Monster's M2000 priced at $200).
Style modifications are very apparent with Monsters headphone lines. The sound quality doesn't change, however the aesthetics changes with each models release, such as with singers Gwen Stefani's Harajuku Girls earbuds and Lada Gaga's Heartbeats.
In order to stay current, Monster constently modify its products style and qualtiy by offering different variations to their products, such as with their M series of HDMI cables. Each cable while boast superior video quality, but varies in output capabilabity. The M650 HDMI cable ($90) caters to standard HD viewing while the M1000 ($150) line caters to hardcore gamers. And of course, Monster offer a cable that can do both functions and perform at a higher rate if the consumer is willing to spend a little more (Monster's M2000 priced at $200).
Thursday, October 27, 2011
Chapter 18- Sales Promotion and Personal selling
Products from Monster Cable have a long standing history of quality and excellents. The company does a great job in promoting their concepts and ideology through their website, and tons of celebrity endorsements. Monster even offers discount prices and a frequent buyer program for their customers. However, there are a few restrictions that may cause some consumers to feel a little leery about participating in these incentive programs.
Monster Cable's frequent buyer program is called "Monster Bucks". Customers earn points which values at 30% of purchase before taxes. Customers are then able to use these points to purchase other Monster items. Unfortunately there are a few downsides to these programs. First, Monster Bucks are only available for selected products that are Monster's website. Second, Monster Bucks are non transferable and are not legal tender. Third, the "bucks" will expire one year after they are earned. Fourth, if a product is purchased using Monster Bucks and is returned, the full value of he points may be reduced or unearned.
Discounted products are available at Monster's outlet store online. At the outlet store, several products are available for up to 50% off of their normal prices. The drawn back is that these products are all refurbished, and Monster's standard warranty does not apply. In place of Monster standard warranty is a limited 90 day warranty. Also, Monster Bucks can't be used for purchase at the online outlet.
Monster doesn't have any retail stores so most personal selling is done by sales representatives at authorize chain stores (Wal-mart, target PC Richards & Sons, etc).
However, Monster does their best to aid these sales representatives by providing in store demonstration. These demonstration are a simple display of Monster's quality. For video, Monster will set up two monitors. One using regular component cables, and the other using Monsters superior HD component cables.
As for the audio demonstrations, Monster will step up their headsets with a pre select rotation of music to show monster audio quality through a range of music genres. This make the sales representatives job easier, by show the consumer the quality before they purchase the product.
Wednesday, October 19, 2011
Chapter 17 Advertising and Public Relations
Monster Cable uses various types of media to advertise their products. Television & Magazines are two of the main mediums that are used for Monster's advertises. Although product advertising is used on both mediums, each conveys different approaches when introducing their products. In their magazine ads, Monster makes sure to list some sort of brief specification to their product without being to technical, as well as images of the device. Most magazine ad are placed in magazines that specialize in music and electronics. However in their television commercials, Monster's advertising objective appears to focus more on the product being an accessory for everyday activities, such as seen in their advertisement for Beat by Dre. New commercial focuses on several individuals going about their normal routines while using their Beats headphones, be it skate-boarding or exercising. Music is another way of advertising that Monster uses. In the hit song "BOOM,BOOM,BOOM" by The Black Eyed Peas, rapper Will.I.am is heard is heard saying "I be rocking them Beats" repeatedly referring to the Beats headphone. This part of the song also appears in the commercial for Beats by Dre.
Managing their companies reputation is very important to Monster Cable, however they have received unfavorable publicity in protecting their establish brand name. Monster Cable began suing companies that use the name "Monster" or "Cable" for their own companies. Monster Cable felt that the other companies profited from their brands reputation, even if the company in no way are competing in the same industry. While large companies such as the job search website Monster.com and beverage company Monster energy drinks may be able to settle their lawsuits, smaller companies were not as fortunate. Monster Mini Golf is a small company that develops miniature golf courses in local communities. However the impending lawsuit would have put the mini golf developer out of business, but luckily the general public intervened. Monster Cable started to be viewed by the public as a "corporate bully", and people began protesting Monster Cable. In response to the protest, Monster Cable dropped their lawsuit with the mini golf developer.
Managing their companies reputation is very important to Monster Cable, however they have received unfavorable publicity in protecting their establish brand name. Monster Cable began suing companies that use the name "Monster" or "Cable" for their own companies. Monster Cable felt that the other companies profited from their brands reputation, even if the company in no way are competing in the same industry. While large companies such as the job search website Monster.com and beverage company Monster energy drinks may be able to settle their lawsuits, smaller companies were not as fortunate. Monster Mini Golf is a small company that develops miniature golf courses in local communities. However the impending lawsuit would have put the mini golf developer out of business, but luckily the general public intervened. Monster Cable started to be viewed by the public as a "corporate bully", and people began protesting Monster Cable. In response to the protest, Monster Cable dropped their lawsuit with the mini golf developer.
Friday, October 14, 2011
Chapter 15 Retailing
Monster Cable products can be purchased at retail specialty discount stores that mainly supply electronic goods. Independent retailers like J&R Music and Computer World to major chain stores, such as Radio Shack and Best Buy are some of the locations where one can find Monster's products. At retail stores, sale representatives use sale tactics like suggestion selling. Suggestive selling is when a sales representative attempt to get a customer to purchase more items for their initial purchase. For example when I purchase my new HDTV for Best Buy, sales representative tried their best to sale my every accessory for my TV available.
I was amazed by all of the product the store carried, and most were product from Monster. From HDMI cable for high definition viewing to surge protectors. Monster even has cleaners for the TV screens. The representative was very knowledgeable on the products and inform me of Monsters long standing history of excellents. The rep. would have sold me, but unfortunately I didn't have enough money(I also discovered that nothing repeals an aggressive sale person faster than saying no cash). This practice benefits companies like Monster, since they are in the accessory manufacturing business. To insure customer purchase monster products from an authorized dealer, Monster offers a lifetime warranty they call "Monsters Live Forever". Monster will replace customers defective Monster product only if it was purchased at one of their authorize dealers.
List of authorized dealers
However, authorized dealers aren't limited to retail stores. They also have several option for non store retail shopping, such as online retailers such as Amazon.com and Bobizzo.com, to shop at home networks likes HSN.
Monster also has a factory outlet store available on line were they sale their refurbished products at a discounted price. However there are some stipulations involved when purchasing from their outlets, namely the "Monster Live Forever" warranty doesn't apply. Instead of the lifetime warranty the company provides customers with a 90 day warranty. There is also a no return policy making all sales final. Costumers looking for a good deal may view outlets to be a good option minus the possibility of receiving a unwanted (and probably defective) refurbished item. Personally as a consumer, I would prefer to spend a little more to ensure my product is new, and protect with a life time warranty.
I was amazed by all of the product the store carried, and most were product from Monster. From HDMI cable for high definition viewing to surge protectors. Monster even has cleaners for the TV screens. The representative was very knowledgeable on the products and inform me of Monsters long standing history of excellents. The rep. would have sold me, but unfortunately I didn't have enough money(I also discovered that nothing repeals an aggressive sale person faster than saying no cash). This practice benefits companies like Monster, since they are in the accessory manufacturing business. To insure customer purchase monster products from an authorized dealer, Monster offers a lifetime warranty they call "Monsters Live Forever". Monster will replace customers defective Monster product only if it was purchased at one of their authorize dealers.
List of authorized dealers
However, authorized dealers aren't limited to retail stores. They also have several option for non store retail shopping, such as online retailers such as Amazon.com and Bobizzo.com, to shop at home networks likes HSN.
Monster also has a factory outlet store available on line were they sale their refurbished products at a discounted price. However there are some stipulations involved when purchasing from their outlets, namely the "Monster Live Forever" warranty doesn't apply. Instead of the lifetime warranty the company provides customers with a 90 day warranty. There is also a no return policy making all sales final. Costumers looking for a good deal may view outlets to be a good option minus the possibility of receiving a unwanted (and probably defective) refurbished item. Personally as a consumer, I would prefer to spend a little more to ensure my product is new, and protect with a life time warranty.
Friday, October 7, 2011
Chapter 6 - Consumer Decision Making
Monster Cable does a affective job of centralizing the consumer decision making process by creating a marketing controlled information source with their website. Consumers generally follow a 5 step decision making process (Need Recognition, Information Search, Evaluation of Alternatives, Purchase and Post Purchase).
Apple computers recently announce the release of their newest addition in their iPhone series, the 4S. Apple iPhones are the most popular cell phones in today's market. In anticipation of Apple's release, Monster cable has prepare a group of accessories to go along with apple's product. This is Monster first step in influencing the Need Recognition in consumer decision. Monster sees a popular product in about to come out and immediately create a list of must have items for that product. Available in this list are several items including headphones (diddyBeats), component cables and portable docking stations with speakers. Most items match Apple signature white color theme, such as the pair of diddyBeats headphones in all white (normally black), mimicking the standard ear buds that come with iPods. Monster advertises this list on their website, which begins the second step, Information Search.
On their website, Monster regularly displays their products as well as user reviews of their products. Monster's website also displays alternatives to the costumers selected products from the companies lines, which begins the third step Evaluation of Alternatives. After having reviewed the different products specifications and reviews from other customers, consumers are ready to move on to step four, Purchase.
The fifth step is pretty much up to the customer to decide on following. In the Post Purchase stage customers reflect on their purchased decision. Monster customer can comment on their experience be it satisfactory or not on Monster's fan page from the social network Facebook. Customers are also encouraged to leave a comment a review for their purchased product on Monster's website. The review consist of a star rating (ranging between 1-5 stars), pros and cons list and a brief comment. With all of these resources available on their site, Monster customers don't have to search around to other websites for information.
Apple computers recently announce the release of their newest addition in their iPhone series, the 4S. Apple iPhones are the most popular cell phones in today's market. In anticipation of Apple's release, Monster cable has prepare a group of accessories to go along with apple's product. This is Monster first step in influencing the Need Recognition in consumer decision. Monster sees a popular product in about to come out and immediately create a list of must have items for that product. Available in this list are several items including headphones (diddyBeats), component cables and portable docking stations with speakers. Most items match Apple signature white color theme, such as the pair of diddyBeats headphones in all white (normally black), mimicking the standard ear buds that come with iPods. Monster advertises this list on their website, which begins the second step, Information Search.
On their website, Monster regularly displays their products as well as user reviews of their products. Monster's website also displays alternatives to the costumers selected products from the companies lines, which begins the third step Evaluation of Alternatives. After having reviewed the different products specifications and reviews from other customers, consumers are ready to move on to step four, Purchase.
The fifth step is pretty much up to the customer to decide on following. In the Post Purchase stage customers reflect on their purchased decision. Monster customer can comment on their experience be it satisfactory or not on Monster's fan page from the social network Facebook. Customers are also encouraged to leave a comment a review for their purchased product on Monster's website. The review consist of a star rating (ranging between 1-5 stars), pros and cons list and a brief comment. With all of these resources available on their site, Monster customers don't have to search around to other websites for information.
Thursday, September 29, 2011
Chapter 5 - Developing a Global Vision
Monster Cables global vision is to be the number one supplier of audio/video components in the world, and with the company distributing in over 70 countries they are well on the way to achieving their goal. Monster is able to get the "word out" about their up and coming product by participating in international conventions, such as this years IFA in Berlin, Germany. IFA is a huge venue with 1,441 exhibitors and over 230,000 visitors. It is a great opportunity to introduce international consumers to Monster Cable's Products by allowing them to see and experience their products first hand.
At this years IFA, Monster announced its newest headphone line from Beats by Dr. Dre called Beats Mixr. Beats Mixr is a conjunction with Award winning DJ David Guetta designed specifically for DJ's. David Guetta is a DJ/Producer known across Europe. Creating a line with Guetta's endorsement is a great way to break in to the European market. The pairing of a monster product with a celebrity is nothing new to Monster Cable. They have use this formula with most of their headphone product from Beat by Dr. Dre. This Style of marketing development is what Monster is also using to break in to the Asian market.
In 2010, Monster joined with former basketball player from the Houston Rockets, and Chinese national Yao Ming to create Yao Monster. Together their line of products, which include headphone, performance glasses, lifestyle bags and home theater cables, will ofter Chinese consumers their unique "fusion of technology and life," as noted in the companies press release.
Links:
Yao Monster press release
Yao Monster AD
Unfortunately, in 2006 Monster had began outsourcing their production jobs to other nations in order to stay competitive with other companies. With the outsourcing of work, Monster laid off over 120 of their production work force. Most of the employees that were laid off are minorities(Chinese and Mexican) and over the age of 40. While this action may have help Monster Cable's bottom line, it has hurt their relationship with their community, which they proclaim to care so much for. Several protest would follow for years to follow. One could only wonder if this is the reason for Monster support of local charities.
Links:
CPA boycott of Monster Cable
Justice for Monster Cable Workers
At this years IFA, Monster announced its newest headphone line from Beats by Dr. Dre called Beats Mixr. Beats Mixr is a conjunction with Award winning DJ David Guetta designed specifically for DJ's. David Guetta is a DJ/Producer known across Europe. Creating a line with Guetta's endorsement is a great way to break in to the European market. The pairing of a monster product with a celebrity is nothing new to Monster Cable. They have use this formula with most of their headphone product from Beat by Dr. Dre. This Style of marketing development is what Monster is also using to break in to the Asian market.
In 2010, Monster joined with former basketball player from the Houston Rockets, and Chinese national Yao Ming to create Yao Monster. Together their line of products, which include headphone, performance glasses, lifestyle bags and home theater cables, will ofter Chinese consumers their unique "fusion of technology and life," as noted in the companies press release.
Yao Monster press release
Yao Monster AD
Unfortunately, in 2006 Monster had began outsourcing their production jobs to other nations in order to stay competitive with other companies. With the outsourcing of work, Monster laid off over 120 of their production work force. Most of the employees that were laid off are minorities(Chinese and Mexican) and over the age of 40. While this action may have help Monster Cable's bottom line, it has hurt their relationship with their community, which they proclaim to care so much for. Several protest would follow for years to follow. One could only wonder if this is the reason for Monster support of local charities.
Links:
CPA boycott of Monster Cable
Justice for Monster Cable Workers
Friday, September 23, 2011
Chapter 4 - The Marketing Environment
Monster products appeals to all consumers of technology. Everyday more people are buying high definition products than ever before. Products like HDTVs, Mp3 players, blu Ray dvd players, computer gaming and home entrainment systems are staples in the average American home. With these devices you need component cable and accessories to ensure that these devices display there content in the highest quality as they were intended to. Being a manufacturer of high definition component products Monster Cable is able to capitalize in this market.
Their target demographic market would include teens, Generation Y and Generation X. These age groups range between 13 to 40 and are some of the biggest consumers around. However marketing to older generations like the GenXers and GenYers may be hard than teens. Older generations tend to purchase brands the recognizes for having a history of quality and reliability through direct experience. Monster's products would be a perfect choice given the company's long standing record of quality (provided that consumer had experience with a inferior product before).
Teens are some what easier to market to because of their limited experiences. They can be greatly influenced by whats popular or what their favorite celebrity is using. Monster tries to capitalize in this market by pairing popular artist with their devices. A good example of this is with their ear buds artist series from Beats by Dr. Dre. Each artist is well known and respected in there genre and the teens get a reliable face to co-sign the product. Using pop culture is a effective way of controlling the external market environment.
Social media is another approach. Now a days approval is just one click away. Monster has a fan page on the popular social network Facebook. There is no age limit to who can use it. All someone has to do is press the button like it and all of their contacts will know. This is a great way to other people to spread the news of products fast and free. I'm pretty sure Monster Cable will use this tactic again as other social networks become more popular.
Their target demographic market would include teens, Generation Y and Generation X. These age groups range between 13 to 40 and are some of the biggest consumers around. However marketing to older generations like the GenXers and GenYers may be hard than teens. Older generations tend to purchase brands the recognizes for having a history of quality and reliability through direct experience. Monster's products would be a perfect choice given the company's long standing record of quality (provided that consumer had experience with a inferior product before).
Teens are some what easier to market to because of their limited experiences. They can be greatly influenced by whats popular or what their favorite celebrity is using. Monster tries to capitalize in this market by pairing popular artist with their devices. A good example of this is with their ear buds artist series from Beats by Dr. Dre. Each artist is well known and respected in there genre and the teens get a reliable face to co-sign the product. Using pop culture is a effective way of controlling the external market environment.
Social media is another approach. Now a days approval is just one click away. Monster has a fan page on the popular social network Facebook. There is no age limit to who can use it. All someone has to do is press the button like it and all of their contacts will know. This is a great way to other people to spread the news of products fast and free. I'm pretty sure Monster Cable will use this tactic again as other social networks become more popular.
Friday, September 16, 2011
Ethics and Social Responsibility
Ethics is defined as the moral principles or values that generally govern the conduct of an individual or group. With that said Monster Cable values are firmly placed in the well being of local communities. Monster Cable appears to be a very socially conscious company. As noted in their website they "pride their-self in the work it does to help those who are in less then fortunate circumstances". Evidence of this can be found in a section on Monster's website to the many charities they contributes to. Here is a list some of the charities that Monster Cable sponsors:
- RED
- Saint Matthew Catholic School
- The Home Depot Foundation
- Seg 4 Vets
- Rebuilding Together Silicon Valley
- The Ireland Fund
- Better Life Foundation
- Students in Free Enterprise
- Homeless Children's Network
But of all of those charitable contribution the one that seems to have made the biggest impact in their local community of San Francisco was the creation of Monster Park. From 2004 to 2008 Monster Cable brought the right to Candlestick Park Stadium, renaming it Monster Park. Candlestick Park was the home to professional sports teams such as the San Francisco Giants (1960-1999), San Francisco 49ers(1971-Present) and Oakland Raiders(1961). It was also the location of Rock and Roll legends The Beatles finally concert in 1966. The San Francisco Recreation and Parks Department receive a significant financial contribution from Monster through the parks creation.
Each year Monster hosts numerous family friendly community events such as Easter egg hunts, festivals and concerts. Founder Noel Lee was awarded The Los Angles Unified Humanitarian Award proven that alll of the companies goodwill has not gone unnoticed. Althought some may argue that Monster Cable's products are overpriced, it is good to know that their corporate social responsibilities are deeply rooted in continually community development.
Links:
Friday, September 9, 2011
The Strategic Planning for Competitive Advantage
From the start Monster Cable Product, Inc. has been a production orientated company. Although their product haven't always been the most affordable for the average consumer, they set the standard for quality in consumer devices. The competitive advantage is in the products. They were the first to deliver high quality sound to consumer by creating superior audio cable and have continue this trend with the creation of the new line of audio ware called Beats by Dr. Dre.
First introduce in 2008, this line headphones and earbuds become hugely popular among young consumer for it sleek style. Marketing for this product become easier with the endorsement of Dr. Dre whom is extremely popular and highly regarded in the music industry. The union of the Monster and Dre was genius since most young consumers may not know the history of Monster product. Young consumer will respect the endorsement from a perfectionist like Dre considered by many as the Qunicy Jones of his generation.
Monster continues this trend by making of earbuds called Beats by Dre Artist series. The series features designs from four major pop icons of today Sean "Diddy" Combs, Lady Gaga, Lebron James and Justin Bieber. Pairing celebrities with Beats products is strategically a great idea. Monster is able to keep its brand alive with endorsements from current celebrities. Even if a competitor is able to copy Monster signature sound, They may have a hard time appealing to the markets major consumers.
Links to product:
http://beatsbydre.com/products/showproducts.aspx?startBanner=1
http://beatsbydre.com/products/showproducts.aspx?startBanner=2
First introduce in 2008, this line headphones and earbuds become hugely popular among young consumer for it sleek style. Marketing for this product become easier with the endorsement of Dr. Dre whom is extremely popular and highly regarded in the music industry. The union of the Monster and Dre was genius since most young consumers may not know the history of Monster product. Young consumer will respect the endorsement from a perfectionist like Dre considered by many as the Qunicy Jones of his generation.
Monster continues this trend by making of earbuds called Beats by Dre Artist series. The series features designs from four major pop icons of today Sean "Diddy" Combs, Lady Gaga, Lebron James and Justin Bieber. Pairing celebrities with Beats products is strategically a great idea. Monster is able to keep its brand alive with endorsements from current celebrities. Even if a competitor is able to copy Monster signature sound, They may have a hard time appealing to the markets major consumers.
Links to product:
http://beatsbydre.com/products/showproducts.aspx?startBanner=1
http://beatsbydre.com/products/showproducts.aspx?startBanner=2
The Mission Statement
At Monster Cable, we are truly grateful that we live and work in the San Francisco Bay Area. That's why Monster has always been committed to strengthening our community.
You can view Monsters many charities contributions on their website:
http://www.monstercable.com/community/charities.asp
You can view Monsters many charities contributions on their website:
http://www.monstercable.com/community/charities.asp
A Brief History.....
Monster Cable product, Inc. is the world's leading manufacturer of high performance cables. The produce cables for audio/video components for home, car and professional use as well as computers and computer gaming. Monster cable Product Inc. was the brain child of Noel Lee. He was a Laser-Fusion design engineer at Lawrence-Linermore Laboratory, as well as an audiophile and professional drummer. He changed the audio industry with the creation of his Monster Cable. He discover that wires of different constructions produced varying degrees of audio performances. At the time the industry standard audio cable were based on the same design as ordinary household electrical wires. Those designs created a limited range across the audio spectrum. Like it strong and powerful name, Monster would go on to become synonymous with high performance and quality products.
The Reboot
Welcome to the Reboot. Overnight I had a change of heart and decided to change the company that I'll be following. The new company that I will be following is Monster Cable Products, Inc. The product that I will be following is the trendy line of audio ware know as Beats by Dr. Dre.
Friday, September 2, 2011
Chapter 1: In the beginning.......
The company I'm choosing to follow this semester is Activision. Activision (also known as ActivisionBlizzard inc.) is a console game publisher with positions in many categories a cross the entertainment software industry. The company began in 1979 with the video game Pitfall! for the Atari. They have since gone on to become the largest third party video game publisher in the world. Activision is home to many popular titles such as Guitar Hero, Spyro, Crash Bandicoct, as well as the Tony Hawk and hugely successful Call of Duty series. Their mission is to continue to be the largest most profitable and well respected interactive entertainment software companies of the world.
Web cited: www.activisionblizzard.com | en.wikipedia.org/wiki/Activision | cssmith2.iweb.bsu.edu/profile.html | www.neogaf.com/forum/showthread.php?t=398072
Web cited: www.activisionblizzard.com | en.wikipedia.org/wiki/Activision | cssmith2.iweb.bsu.edu/profile.html | www.neogaf.com/forum/showthread.php?t=398072
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