Marketing and Tweeter - 1390 Words

Case Analysis Tweeter etc. Company Overview Tweeter etc. was founded in 1972 by Sandy Bloomberg in Boston to sell high-end stereo components. The current portfolio of the company consists of brand stereos, television, car radios and car phones. Tweeter has recently witnessed a healthy growth in its financial performance. Sale has almost doubled in the last three years reaching $82.3 million in FY 1996. Its sales per store has increased by 50% and number of stores increased to 21 from 14 during the same period. The Making and Current Scenario During its formative years, Tweeter gained the reputation of being the retailer of high quality, high-end audio components and video equipment. They had a knowledge able sales force providing†¦show more content†¦The starting price for its products as communicated to the consumers by ads was well above the other retailers. Thus, consumers being price sensitive thought of Tweeter as the store selling high priced goods. Even though the middle and high end stuff are sold at around the same prices as in all stores. The lack of awareness along with the price advertising has made the Tweeter appear more costly and specialized for high end customers and thus driving consumers away. As can be justified Tweeter’s 70% sales was due to Quality/Service customers which look for high levels of product quality and customer service due to its image. As can be seen from the survey, the awareness level of people about APP was very low. Only 32% of the respondents could define it. Only 22.1% of the respondents knew that Tweeter offered the APP service. Concern 4: Is Tweeter targeting the right customer sector and should it continue with APP? The price bitter and the quality/service customers together account for 90% of Tweeter customers. It lacks behind in Entry level and convenience customers. This can be attributed to the various misconceptions about the store in the market such as Tweeter stocks high end goods only. This has led to Tweeter running in losses during early 1990’s. Though, it has shown some improvement after that due to the inclusion of APP. Concern 5: Is Tweeter actually price competitive among its competitors Tweeter is priceShow MoreRelatedTweeter Case Study1159 Words   |  5 Pagesï » ¿Tweeter Case Questions 1. Objectively and subjectively, is Tweeter price competitive? Why or why not? Tweeter is an electronics store that pride itself on selling middle and high end goods. To see if they were price competitive, we would have to evaluate them with similar stores like Cambridge sounds waves as opposed to Walmart. Before APP in 1993, it would not have been possible to evaluate Tweeter’s price competitiveness since there was no systematic benchmarking present. However withRead MoreTweeter Case Study1296 Words   |  6 Pages------------------------------------------------- Purpose: Tweeter etc. founded by CEO Sandy Bloomberg in 1972, is a specialty retail store of middle and high end audio and video consumer electronics. Between the years 1991 to 1996, it expanded from a 13-store chain with $ 35 million annual sales to a 21-store chain with $ 82 million in annual sales. To sustain its market share amongst the highly price-focused competitors of New England in USA, the company had adopted 3 major promotional strategiesRead MoreCase Study : Automatic Price Protection Introduced By Tweeter1145 Words   |  5 PagesAutomatic Price Protection introduced by Tweeter will be a successful strategy to keep the electronic store able to compete in intense competition of electronic store. The trends of APP refunds are increasing every period until it reached cumulatively $783,863 in December 1995. Tweeter market share is considered very low in New England Market. Tweeter was not able to compete with market that has bigger market share and offer cheaper price. †¢ Causes that lead Tweeter to implement APP will be discussed,Read MoreNew England Consumer Electronics Market1056 Words   |  5 PagesTweeter etc. is a small, upscale New England retailer of consumer electronics that was founded by Sandy Bloomberg in 1972. During that time, there were two major retailers in Boston, Tech Hi-fi and Lechmere. To avoid direct confrontation, Bloomberg focused on the student market and emphasize a lot more on sophisticated tastes for higher quality stereo components. As time pass by, Tweeter build up their reputation and the public consider the company as a retailer of â€Å"high quality, high-end audio componentsRead MoreTweeter Case1798 Words   |  8 PagesQUESTIONS: Should Tweeter continue with its Automatic Price Protection (APP) policy along with Every-day Fair Pricing (EDFP)? Tweeter should continue with its current Marketing strategy based on APP policy and Every-day Fair pricing. Their target customer is the Quality/Service oriented and they should focus on retaining their loyalty. The shift from having continuous Sales Events to fair pricing and price protection has been proven successful as same store sales have increased, new stores haveRead MoreCustomer Service : An Important Part Of Business1124 Words   |  5 Pagesquestions from prospective customers. Social media customer service grows fasted and strongest in customer service department. The strategy is not only answer questions and complaining from customers by using social media network; such as Facebook, Tweeter, Youtube, Blog, but also to create a strong faster connection between organisation and customers. According to the recent Social Media Customer Service Report conducted by TNS, surveyed more than 1,000 UK consumers and found that 57% of consumersRead MoreTweeter Etc。5564 Words   |  23 PagesBloomberg, founder and CEO of Tweeter etc., reflected on the recent history of his small, upscale New England retailer of consumer electronics. Tweeter had grown from a 13-store chain with $35 million in annual sales in 1991 to a 21-store chain with $82 million in annual sales in 1996. Bloomberg had always attributed part of this growth to Tweeter s Automatic Price Protection policy, which had been implemented in 1993. Under Automatic Price Protection (APP), Tweeter monitored local newspaper adsRead MoreFreedom and Constraints in Social Media Essay1587 Words   |  7 Pagesis to facilitate and promote social interaction, often we see the obsession of personal image worsen and consume the user because of how many so-called â€Å"Friends† they have or how many â€Å"Likes† their status updates receives (Kramer, V3 Integrated Marketing). Both are irrelevant towards modern issues and crises. Thus Facebook hinders the user’s ability to elaborate and reason with analytical topics. Image/videos boards and blogging sites (e.g. Youtube.com, 4chan.org, Blogger.com) however allow forRead MoreSocial Media And Marketing Strategy1401 Words   |  6 Pages Social Media and Marketing Manal Musallam â€Æ' Social media and Marketing Introduction According to state of inbound marketing in the year 2012 62% of marketers said social media became more important to the marketing campaigns in the last 6 months. Apparently businesses had moved on to the next big step of marketing their products and services to consumers or other businesses. Marketing using social media as a tool to reach out to millions of consumers and businesses had enhancedRead MoreEssay on Twitter Strength of Weak Ties4871 Words   |  20 Pagestheir list of connections and those made by others within the system. Aided by the proliferation of laptops, erosion of the traditional concept of office hours and working from home, these SNS’s are having a major impact on business networking, marketing, human resources, customer relations and even employee motivation and loyalty! [ (MessageLabs, 2007) ] A review of existing academic research suggests that since the advent of SNS’s, majority of the research is focused on defining what SNS’s are