Monday, February 10, 2020
Porters five forces analysis - Beats by Dre Essay
Porters five forces analysis - Beats by Dre - Essay Example To analyze the market share taken by the headphones in the market, we will focus on the forces outlined in the model to discuss this. Firstly, we will focus on the supplierÃ¢â¬â¢s power in the global market. The company is one of the largest manufacturers of headphones in the global market. It manufactures high-end headphones, which most consumers consider them quality and classy. Further, companyÃ¢â¬â¢s ability to manufacture them in different colours makes it even better. Most of the headphones are Ã¢â¬ËUÃ¢â¬â¢ shaped. From a recent report published in business review, the company had acquired sixty-four percent of the entire market shares. Most users of the headphones view it as a fashion accessory mostly used by celebrities in the hip-hop music industry. The company has the capacity to manufacture and satisfy the global market. Secondly, the model helps its users to analyze the buying power of consumers who are its target consumers. The company appreciates that it has customers from different lifestyles hence it manufactures products as per their needs and requests. Therefore, the management has ensured that the prices of their products and softwareÃ¢â¬â¢s are all affordable to their customers in the global market. Further, the company follows the current rates of inflation in the worldÃ¢â¬â¢s economy. To emphasize, most of the customers lies in the age bracket of 19-35 years who love to be trendy and follow the latest themes in the world of fashion. This gives the company an upper hand because their products are always on demands.