steinway 3
Post on 20-Dec-2014
34 Views
Preview:
DESCRIPTION
TRANSCRIPT
What have we learned this week supports the casethat Steinway should phase out the Boston brand.
Reasons why phasing out is the best option:
1. The brand portfolio2. Competitive Landscape3. Better opportunities for growth elsewhere
1. Create a strong, clear brand positioning.
Words used to describe Steinway:
LegendaryInstitutionIllustrious
For the world’s most accomplished pianistsPre-eminent
The Boston does not fit this brand
Words used to describe Steinway:
LegendaryInstitutionIllustrious
For the world’s most accomplished pianistsPre-eminent
2. V specific brand meaning = hard to extend
3. Stretching a brand too much doesn’t work
Resale implicationsConfusion
4. Avoid being the equivalent of a Mercedes for 26 year olds.
Resale implications
5. Know what to compete with the competition on, and what to avoid.
Stay with Boston? Expand high end?
• Baldwin, Yamaha and Kawai - high volume, lower price.• Large share of mid-market• Produced by a competitor• Electronic keyboards
• Growing demand for Limited Edition and Crown Jewels• New potentially large markets in Japan, China and S Korea
Conclusion - Boston should be phased out
1. It risks damaging the Steinway brand2. Mid-market is not a good area to be competing in.3. Global high end is a better strategy.
top related