netrashetty
Netra Shetty
Founded in 1979 by Advent veterans Andy Kotsatos and Frank Reed, Boston Acoustics is a prime manufacturer of premium home and mobile audio equipment operated out of Peabody, Massachusetts. Boston Acoustics entered the mobile audio category in 1983. Boston Acoustics manufactures many of the woofer, midrange, and tweeter transducers used in their products at the Peabody facility and maintain a complete engineering staff on site.
Boston produces speakers for home, custom/architectural, and vehicles. They also produce OEM equipment which is factory-fitted to a variety of cars including Chrysler 300, Chrysler PT Cruiser, Chrysler Sebring, Dodge Avenger, Dodge Charger, Dodge Magnum, Dodge Caliber, Jeep Commander, Jeep Grand Cherokee, and Jeep Compass vehicles. They also supply the premium 9-speaker system in the 2010 Chevrolet Camaro.
Boston Acoustics has produced home loudspeakers such as the E, HD, VR-M, & Lynnfield Series, and on the mobile side Pro, Z, & SPZ reference component speakers. The tweeters are matched within +/-1.5dB typical of high quality drivers. They have a reputation for top level sound quality but at moderate prices. Recently Boston Acoustics was granted a patent for "audio speaker having a removable voice-coil" United States Patent #7272237 for the SPG subwoofer produced by the mobile audio division. Prior to this patent, electrodynamic speakers affix the voice-coil permanently to the speaker cone. The Boston Acoustics patent allows for voice-coil removal should it become damaged during an extended overdrive condition and is the first of its kind in the consumer electronics industry.
Market Research is the study of groups of people that you would like to sell your products or services to. Spending time to do Market Research minimizes risk and often improves your chances of success. Researching your target market can provide you with sound and objective data. The problem is that market research can be extremely expensive. So how can you do the research if you are on a tight budget? Low-cost market research is not impossible, let me show you how.
First off, let's consider the things we need to look for when conducting our market research. Your target market should have at least four common characteristics. They are:
My target market has a particular need.
My target market has enough money to purchase my products or services.
My target market has decision making power.
My target market has access to my products and services.
In order to determine these characteristics you must spend time researching and asking yourself the following questions:
My customers have a particular need. What is that need?
My customers have enough money to buy what I am selling. Who needs and can afford what you are offering?
My customers have decision making power. Who has the authority to say yes to what I'm offering?
My customers have access to my products and services. How accessible are my products or services to my target market?
Where Should You Begin Your Market Research?
First Resource: Secondary Research
The best place to start looking for secondary research is online. Visit association web sites that are aligned with your industry. If you are in the consumer industry, visit the government agencies because you will find all kinds of consumer information on their sites. A great resource that you won't want to miss is the U.S. Census Bureau. Keep in mind that secondary research is not done for you, so some of the information and answers may not be applicable to you. Whoever it was that commissioned the study had their own questions that they wanted to get answered. The information you will find might be in the ballpark but not on first base.
Second Resource: Your Customers
Put together a questionnaire and have your employees ask prospects, customers, vendors, and suppliers to complete it. A couple of questions you could ask are:
Do you like our products or services?
What are we doing right?
What could we improve?
This method of research also works very well when visiting trade shows. Take a walk around the hall and spend time listening to people's conversations and ask questions. Spending time doing this helps you gain insight to what your competitors are doing.
Advertising has four characteristics: it is persuasive in nature; it is non-personal; it is paid for by an identified sponsor; and it is disseminated through mass channels of communication. Advertising messages may promote the adoption of goods, services, persons, or ideas. Because the sales message is disseminated through the mass media—as opposed to personal selling—it is viewed as a much cheaper way of reaching consumers. However, its non-personal nature means it lacks the ability to tailor the sales message to the message recipient and, more importantly, actually get the sale. Therefore, advertising effects are best measured in terms of increasing awareness and changing attitudes and opinions, not creating sales. Advertising's contribution to sales is difficult to isolate because many factors influence sales. The contribution advertising makes to sales are best viewed over the long run. The exception to this thinking is within the internet arena. While banner ads, pop-ups and interstitials should still be viewed as brand promoting and not necessarily sales drivers, technology provides the ability to track how many of a website's visitors click the banner, investigate a product, request more information, and ultimately make a purchase.
Through the use of symbols and images advertising can help differentiate products and services that are otherwise similar. Advertising also helps create and maintain brand equity. Brand equity is an intangible asset that results from a favorable image, impressions of differentiation, or consumer attachment to the company, brand, or trademark. This equity translates into greater sales volume, and/or higher margins, thus greater competitive advantage. Brand equity is established and maintained through advertising that focuses on image, product attributes, service, or other features of the company and its products or services.
Cost is the greatest disadvantage of advertising. The average cost for a 30-second spot on network television increased fivefold between 1980 and 2005. Plus, the average cost of producing a 30-second ad for network television is quite expensive. It is not uncommon for a national advertiser to spend in the millions of dollars for one 30-second commercial to be produced. Add more millions on top of that if celebrity talent is utilized.
Credibility and clutter are other disadvantages. Consumers have become increasingly skeptical about advertising messages and tend to resent advertisers' attempt to persuade. Advertising is everywhere, from network television, to daily newspapers, to roadside billboards, to golf course signs, to stickers on fruit in grocery stores. Clutter encourages consumers to ignore many advertising messages. New media are emerging, such as DVRs (digital video recorders) which allow consumers to record programs and then skip commercials, and satellite radio which provides a majority of its channels advertising free.
PUBLIC RELATIONS
Public relations is defined as a management function which identifies, establishes, and maintains mutually beneficial relationships between an organization and the publics upon which its success or failure depends. Whereas advertising is a one-way communication from sender (the marketer) to the receiver (the consumer or the retail trade), public relations considers multiple audiences (consumers, employees, suppliers, vendors, etc.) and uses two-way communication to monitor feedback and adjust both its message and the organization's actions for maximum benefit. A primary tool used by public relations practitioners is publicity. Publicity capitalizes on the news value of a product, service, idea, person or event so that the information can be disseminated through the news media. This third party "endorsement" by the news media provides a vital boost to the marketing communication message: credibility. Articles in the media are perceived as being more objective than advertisements, and their messages are more likely to be absorbed and believed. For example, after the CBS newsmagazine 60 Minutes reported in the early 1990s that drinking moderate amounts of red wine could prevent heart attacks by lowering cholesterol, red wine sales in the United States increased 50 percent. Another benefit publicity offers is that it is free, not considering the great amount of effort it can require to get out-bound publicity noticed and picked up by media sources.
Public relations' role in the promotional mix is becoming more important because of what Philip Kotler describes as an "over communicated society." Consumers develop "communication-avoidance routines" where they are likely to tune out commercial messages. As advertising loses some of its cost-effectiveness, marketers are turning to news coverage, events, and community programs to help disseminate their product and company messages. Some consumers may also base their purchase decisions on the image of the company, for example, how environmentally responsible the company is. In this regard, public relations plays an important role in presenting, through news reports, sponsorships, "advertorials" (a form of advertising that instead of selling a product or service promotes the company's views regarding current issues), and other forms of communication, what the company stands for.
Another possible problem is the non-response error. This is because of the fact that the study caters a huge population, there is a big chance that the Department of Statistics will use methods that will help them to save money and effort in visiting personally the respondents such as mail survey, telephone interview and even personal interview. The people originally chosen to be interviewed might not respond because they are not at home or because they refuse to participate (Stevens, Wrenn, Sherwood, & Ruddick, 2005). However, there are things that can be done in order to resolve the said problem. First, it is important to communicate with the respondents regarding the importance of his or her opinions. It can also help if the researcher will notify and inform the researcher in advance and make some appointment for a callback at mutually agreeable time. It is also important to focus on the ethical consideration and concerns of the respondents including confidentiality and privacy. It can also help to maintain contact with a callback or follow-up mailing, together with including return postage and envelopes for mail surveys. Above all, the most effective way of motivating the chosen respondents is by means of tokens or incentives (Stevens, Wrenn, Sherwood, & Ruddick, 2005).
Above all, because of the sampling errors can cause data error, because wrong data were gathered from the wrong population. Therefore, in the end, it can be said that it is vital to plan the research in caution and in advance in order to meet the logical importance of the research.
Boston produces speakers for home, custom/architectural, and vehicles. They also produce OEM equipment which is factory-fitted to a variety of cars including Chrysler 300, Chrysler PT Cruiser, Chrysler Sebring, Dodge Avenger, Dodge Charger, Dodge Magnum, Dodge Caliber, Jeep Commander, Jeep Grand Cherokee, and Jeep Compass vehicles. They also supply the premium 9-speaker system in the 2010 Chevrolet Camaro.
Boston Acoustics has produced home loudspeakers such as the E, HD, VR-M, & Lynnfield Series, and on the mobile side Pro, Z, & SPZ reference component speakers. The tweeters are matched within +/-1.5dB typical of high quality drivers. They have a reputation for top level sound quality but at moderate prices. Recently Boston Acoustics was granted a patent for "audio speaker having a removable voice-coil" United States Patent #7272237 for the SPG subwoofer produced by the mobile audio division. Prior to this patent, electrodynamic speakers affix the voice-coil permanently to the speaker cone. The Boston Acoustics patent allows for voice-coil removal should it become damaged during an extended overdrive condition and is the first of its kind in the consumer electronics industry.
Market Research is the study of groups of people that you would like to sell your products or services to. Spending time to do Market Research minimizes risk and often improves your chances of success. Researching your target market can provide you with sound and objective data. The problem is that market research can be extremely expensive. So how can you do the research if you are on a tight budget? Low-cost market research is not impossible, let me show you how.
First off, let's consider the things we need to look for when conducting our market research. Your target market should have at least four common characteristics. They are:
My target market has a particular need.
My target market has enough money to purchase my products or services.
My target market has decision making power.
My target market has access to my products and services.
In order to determine these characteristics you must spend time researching and asking yourself the following questions:
My customers have a particular need. What is that need?
My customers have enough money to buy what I am selling. Who needs and can afford what you are offering?
My customers have decision making power. Who has the authority to say yes to what I'm offering?
My customers have access to my products and services. How accessible are my products or services to my target market?
Where Should You Begin Your Market Research?
First Resource: Secondary Research
The best place to start looking for secondary research is online. Visit association web sites that are aligned with your industry. If you are in the consumer industry, visit the government agencies because you will find all kinds of consumer information on their sites. A great resource that you won't want to miss is the U.S. Census Bureau. Keep in mind that secondary research is not done for you, so some of the information and answers may not be applicable to you. Whoever it was that commissioned the study had their own questions that they wanted to get answered. The information you will find might be in the ballpark but not on first base.
Second Resource: Your Customers
Put together a questionnaire and have your employees ask prospects, customers, vendors, and suppliers to complete it. A couple of questions you could ask are:
Do you like our products or services?
What are we doing right?
What could we improve?
This method of research also works very well when visiting trade shows. Take a walk around the hall and spend time listening to people's conversations and ask questions. Spending time doing this helps you gain insight to what your competitors are doing.
Advertising has four characteristics: it is persuasive in nature; it is non-personal; it is paid for by an identified sponsor; and it is disseminated through mass channels of communication. Advertising messages may promote the adoption of goods, services, persons, or ideas. Because the sales message is disseminated through the mass media—as opposed to personal selling—it is viewed as a much cheaper way of reaching consumers. However, its non-personal nature means it lacks the ability to tailor the sales message to the message recipient and, more importantly, actually get the sale. Therefore, advertising effects are best measured in terms of increasing awareness and changing attitudes and opinions, not creating sales. Advertising's contribution to sales is difficult to isolate because many factors influence sales. The contribution advertising makes to sales are best viewed over the long run. The exception to this thinking is within the internet arena. While banner ads, pop-ups and interstitials should still be viewed as brand promoting and not necessarily sales drivers, technology provides the ability to track how many of a website's visitors click the banner, investigate a product, request more information, and ultimately make a purchase.
Through the use of symbols and images advertising can help differentiate products and services that are otherwise similar. Advertising also helps create and maintain brand equity. Brand equity is an intangible asset that results from a favorable image, impressions of differentiation, or consumer attachment to the company, brand, or trademark. This equity translates into greater sales volume, and/or higher margins, thus greater competitive advantage. Brand equity is established and maintained through advertising that focuses on image, product attributes, service, or other features of the company and its products or services.
Cost is the greatest disadvantage of advertising. The average cost for a 30-second spot on network television increased fivefold between 1980 and 2005. Plus, the average cost of producing a 30-second ad for network television is quite expensive. It is not uncommon for a national advertiser to spend in the millions of dollars for one 30-second commercial to be produced. Add more millions on top of that if celebrity talent is utilized.
Credibility and clutter are other disadvantages. Consumers have become increasingly skeptical about advertising messages and tend to resent advertisers' attempt to persuade. Advertising is everywhere, from network television, to daily newspapers, to roadside billboards, to golf course signs, to stickers on fruit in grocery stores. Clutter encourages consumers to ignore many advertising messages. New media are emerging, such as DVRs (digital video recorders) which allow consumers to record programs and then skip commercials, and satellite radio which provides a majority of its channels advertising free.
PUBLIC RELATIONS
Public relations is defined as a management function which identifies, establishes, and maintains mutually beneficial relationships between an organization and the publics upon which its success or failure depends. Whereas advertising is a one-way communication from sender (the marketer) to the receiver (the consumer or the retail trade), public relations considers multiple audiences (consumers, employees, suppliers, vendors, etc.) and uses two-way communication to monitor feedback and adjust both its message and the organization's actions for maximum benefit. A primary tool used by public relations practitioners is publicity. Publicity capitalizes on the news value of a product, service, idea, person or event so that the information can be disseminated through the news media. This third party "endorsement" by the news media provides a vital boost to the marketing communication message: credibility. Articles in the media are perceived as being more objective than advertisements, and their messages are more likely to be absorbed and believed. For example, after the CBS newsmagazine 60 Minutes reported in the early 1990s that drinking moderate amounts of red wine could prevent heart attacks by lowering cholesterol, red wine sales in the United States increased 50 percent. Another benefit publicity offers is that it is free, not considering the great amount of effort it can require to get out-bound publicity noticed and picked up by media sources.
Public relations' role in the promotional mix is becoming more important because of what Philip Kotler describes as an "over communicated society." Consumers develop "communication-avoidance routines" where they are likely to tune out commercial messages. As advertising loses some of its cost-effectiveness, marketers are turning to news coverage, events, and community programs to help disseminate their product and company messages. Some consumers may also base their purchase decisions on the image of the company, for example, how environmentally responsible the company is. In this regard, public relations plays an important role in presenting, through news reports, sponsorships, "advertorials" (a form of advertising that instead of selling a product or service promotes the company's views regarding current issues), and other forms of communication, what the company stands for.
Another possible problem is the non-response error. This is because of the fact that the study caters a huge population, there is a big chance that the Department of Statistics will use methods that will help them to save money and effort in visiting personally the respondents such as mail survey, telephone interview and even personal interview. The people originally chosen to be interviewed might not respond because they are not at home or because they refuse to participate (Stevens, Wrenn, Sherwood, & Ruddick, 2005). However, there are things that can be done in order to resolve the said problem. First, it is important to communicate with the respondents regarding the importance of his or her opinions. It can also help if the researcher will notify and inform the researcher in advance and make some appointment for a callback at mutually agreeable time. It is also important to focus on the ethical consideration and concerns of the respondents including confidentiality and privacy. It can also help to maintain contact with a callback or follow-up mailing, together with including return postage and envelopes for mail surveys. Above all, the most effective way of motivating the chosen respondents is by means of tokens or incentives (Stevens, Wrenn, Sherwood, & Ruddick, 2005).
Above all, because of the sampling errors can cause data error, because wrong data were gathered from the wrong population. Therefore, in the end, it can be said that it is vital to plan the research in caution and in advance in order to meet the logical importance of the research.