...Segmentation and positioning A case study of Bang & Olufsen Segmentation and positioning – Bang & Olufsen Table of contents 1. Introduction ............................................................................................................................ 2 1.1 Problem Statement .............................................................................................................................................................. 2 1.2 Methodology .......................................................................................................................................................................... 3 1.2.1 Data gathering .................................................................................................................................................................... 3 1.3 Delimitation ............................................................................................................................................................................ 4 2. Bang & Olufsen ........................................................................................................................ 4 3 Segmentation .....................................................
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...2008/09 Bang & Olufsen Group CVR no. 41257911 Annual Report 2008/09 Bang & Olufsen Group If you wish to skip directly to a specific page, click on the page number from CONTENTS on page 3. You will then go directly to that page. CONTENTS - click right HERE. CVR no. 41257911 contents 5 Dear Bang & Olufsen shareholder 7 Corporate information etc. 8 Bang & Olufsen - a brief history 15 Five-year summary, main and key figures 18 Statement by the Management on the annual report 19 Independent auditor’s report 20 Structure, management and directorships 25 Directors’ report, Bang & Olufsen a/s Group 31 Branded business 33 Business-to-business areas 35 Expectations for the 2009/10 financial year 37 Knowledge resources 43 Environment 47 Corporate Governance 49 Shareholder information 53 Statements sent to NASDAQ OMX Copenhagen A/S 55 Capital structure 57 Commercial risks 61 Financial report and notes Back to CONTENTS 3 4 Back to CONTENTS Dear Bang & Olufsen shareholder, The 2008/09 financial year was extremely tough for Bang & Olufsen, not only for the company and its employees, but also for you, our shareholders. It was gratifying to see the support demonstrated by our shareholders by them subscribing fully to the rights issue that was required to consolidate Bang & Olufsen’s...
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...Bang an Olufsen Business Mission The mission and vision of Bang and Olufsen was first laid down by the two founders Peter Bang and Svend Olufsen in the late 1920s - was stipulated in these words: “Enterprising is needed - a never-failing will to create only the best – to persistently find new ways of improvement”. (www.bang-olufsen.com) Situation Analysis Brief History Bang and Olufsen was founded by Peter Bang and Svend Olufsen in Streur, Denmark in 1925. Started by making early record players, speaker and audio equipment but has branched out its product range over the years. The original factory of Bang and Olufsen dating from 1925 was bombed in World War 2 and a new factory was not constructed until 1948, this factory is still used today. Where we are now? Bang and Olufsen now have a range of products from audio, video and multimedia, these products are designed to be cutting edge, different and contemporary. A strong emphasis is put on research and development, Bang and Olufsen have a building on its site in Streur called ‘idealand’ this is where ideas for products and research takes place. Bang and Olufsen employ over 2,550 staff and has a turnover of 548.6 million (euros) in the 2007/2008 financial year. It also has 1,200 dealers in over 100 countries. 65% of the stores are B1, which exclusively sell Bang and Olufsen products. The B1 stores account for 81% of the total turnover. A strong emphasis is put on environmental issues, a WEEE (Waste Electrical...
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...REV: SEPTEMBER 5, 2007 ROBERT D. AUSTIN DANIELA BEYERSDORFER Bang & Olufsen: Design Driven Innovation “The Farm,” Bang & Olufsen’s futuristic glass-and-concrete headquarters, rose out of the green fields of western Denmark “like something lifted from a Stanley Kubrick dreamscape.”2 In a nearby parking area, Christopher Sorensen stepped from his car and walked toward the entrance, on his way to meet with a high-powered group that included the CEO, to discuss an important product program. Within this 80-year-old company, based in rural Jutland where local people might still consider you an outsider after 30 years, Sorensen would be very much the newcomer. Despite that, he would try to convince the others to adjust the firm’s successful design process—to change a winning game. In April 2006, Bang & Olufsen (B&O) sold a range of televisions, audio systems, loudspeakers, telephones, and other products (see Exhibit 1) in more than 60 countries. The company had a worldwide reputation for idea-based products of high quality and artistic design, many of which held places of honor in the permanent collections of the world’s greatest art museums. (According to a citation at the Museum of Modern Art in New York, B&O had “delivered the largest and most consistent design portfolio among the world’s industrial companies.”3) This level of accomplishment translated into high price points (see Exhibit 2) and profit margins, realized through an exclusive network of dealers, from devoted...
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...casecompetition.com Thank you On behalf of CBS Case Competition 2008 the case writers wish to thank Bang & Olufsen A/S Interviews Alberto de Lucio, Head of Bang & Olufsen Southern Europe, B&O Carsten Sander, Senior Director Scandinavia and Baltic, B&O Flemming Møller Pedersen, Senior Director, Idea Factory, B&O Flemming Nielsen, Sales Director, Enterprise, B&O Henrik Messel, Senior Director, Technology and Platform, B&O Kasper Eis, Director, Global Marketing, B&O Lars Flyvholm, Director, Product and Business Management, B&O Lars Topholm, Securities Analyst, Carnegie Peter Petersen, Director, Business Innovation, B&O Peter Thostrup, Executive Vice President, B&O Torben Ballegaard Sørensen, former CEO, B&O Song, video and layout Pernille Zillmer (speak) Philip Vensby, Tranzistor Søren Raasted (property rights) Claus Winther Jørgensen, B&O Claus Hoelgaard Noer, B&O Jan Hegermann Skræddergaard, B&O Scott Neillands, B&O Thomas Vistesen Andersen, B&O Case test persons Bjørn Ruwald, McKinsey & Company Michael Wiatr, The Boston Consulting Group Simon Friberg Andersen, Userneeds Stefan Jung, Bain & Company Thomas Joachim Hansen, FIH Partners Thor Jørgensen, The Boston Consulting Group Bang & Olufsen: In a Time of Strategic Change The members of the Board of Directors and the management team met early one morning as they were entering the headquarters of Bang & Olufsen (hereafter B&O). They were on their way to a series of crucial meetings that would determine...
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...Analysis............................................................................................. 12 1.5.3Financial Statement Analysis ........................................................................... 13 1.5.4Prognoses and Budgets..................................................................................... 14 1.5.5Valuation.......................................................................................................... 14 1.6Limitations ............................................................................................................... 14 1.7Source Criticism....................................................................................................... 16 2 Company Presentation of Bang and...
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...DESIGN WHICH IS THE ANSWER TO THE MERCEDES-BENZ CLA COMPACT SEDAN.WITH PREVIOUS SUCCESS OF A3 TWO-DOOR AUDI HAS NOW DECIDE TO LAUNCH A MORE PRACTICAL AND A UPDATED VERSION OF A3 .THE LONGER , WIDER AND THE LOWER SEDAN HAS SHARP CRISP LINES WHICH ADD ON TO THE CHARACTER OF THE CAR AND WITH THE ADDED SPOILER ENHANCES THE MASCULINITY OF THE CAR AND WITH TRADEMARKED SINGLE-FRAME RADIATOR GRILL IS THE PRIMARY DESIGN ELEMENT UP FRONT THE BUMPERS WHICH WORKS AS THE LARGE AIR INLET TOO. LED DAYTIME RUNNING LIGHTS FORM VISUALLY UNIFORM CONTOURS OF LIGHT AT THE UPPER AND LOWER SECTIONS. THE TURN SIGNAL IS IN THE TAPERED INNER CORNER UNDERNEATH A CHROMED STRIP WHILE THE EXTERIOR IS IMPRESSIVE, INSIDE OF THE CAR IS FILLED WITH LUXURIES SUCH AS BANG & OLUFSEN AUDIO SYSTEM , MMI 7-INCH NAVIGATION DISPLAY WHICH EXTENDS ELECTRONICALLY FROM INSTRUMENTAL PANEL , LED LIGHTING , 4G LTE CONNECTIVITY AND MANY MORE THE FEEL INSIDE THE CAR IS PREMIUM INDEED THE DASHBOARD INTERIOR FITTINGS ARE LIFTED STRAIGHT OUT OF THE OTHER A3S SO THE DESIGN IS SIMPLE AND ELEGANT WITH THE DENSE AND LUSTROUS MATERIAL WHICH IS USED AND NOT TO FORGET THE EXTRA PREMIUM SEATS WHICH IS WRAPPED WITH MILANO LEATHER AND A COMBINATION OF PEARL NAPPA LEATHER. AUDI WILL AGAIN OFFER ITS TDI ENGINE AMONGST THE SELECTION: A TURBOCHARGED 1.8-LITER ENGINE CAPABLE OF 170 HP AND 180 LB-FT OF TORQUE, A 2.0-LITER AWD CONFIGURATION THAT PUTS DOWN 200 HP, AND FINALLY A 2.0-LITER TFSI VERSION THAT SITS NEAR THE 300 HP RANGE, MADE ESPECIALLY...
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...Problem formulation In this assignment we want to answer some questions regarding the product development of B&O automotive. − What process was used to develop the first automotive sound system? − What process is used in order to create new product development after they’ve become established in the market? − How does the commercialization process chosen by B&O automotive fit the novelty picture given by figure 9.5 − How has B&O automotive used strategy optimize adoption of their technology to the market? − Is it possible, with the theory in chapter 9, to analyze the services that they provide to their customers? B&O automotive Analysis In section 9.1 of the chapter, Tidd and Bessant explain about the processes that need to be followed to develop a new product. They show different models of processes such as the stage-gate process and the development funnel method - However they warn the reader about how this models attempt to explain the whole process of development of a new product in a simple and linear way. They state: “However, in practice the development of new products and services is inherently a complex and iterative process, and this makes it difficult to model for practical purposes.” This does not mean that we should not consider any of these models; however, we should be careful not to force the process to fit exactly with the model. In response to this, Tidd and Bessant propose a simplified model with only four stages: concept generation, project assessment...
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...HTC home theater marcoms plan 1. What is the opportunity that you have identified in the market? The consumer preferences for home cinema is changing due to introduction to high tech items such as iPod,iPad, smartphones,docking systems, etc, therefore HTC has created high-tech home cinema Consumers are staying in more due to the economic downturn, and as such there is an increased focus on in home entertainment. Many consumers are even staying in not because of financial constraints, but rather in response to the general ‘climate of austerity’. As such, they may in fact have more disposable income available to spend on home entertainment products. True change in the market will likely occur with the introduction of OLED or crystal light emitting diode (LED) screens capable of providing a visibly improved baseline viewing experience. . Televisions now have the opportunity/ability to connect directly to the internet built into them, and come with customised software designed to facilitate this, these televisions are called ‘smart televisions’. HTC are developing a high-quality ‘glasses-free’ 3D glasses television, which can be viewed without the addition of any glasses. Our in home entertainment system will also include exceptional software, long lasting battery (docking station for charging), revolution in home theatre quality and be energy-efficient. 2. Who do you see as your key competitors? Sony (market leader with 23% of market share) Panasonic...
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...MANAJEMEN STRATEGIK * Manajemen strategik: apa yang dilakukan manajer untuk mengembangkan strategi suatu organisasi. Melibatkan fungsi manajemen dasar ( plan, organize, control, lead) * Strategi organisasi: rencana mengenai bagaimana sebuah organisasi akan melakukan bekerja, menang bersaing, memuaskan pelanggan agar mencapai tujuan organisasi. * Istilah. Model bisnis: desain bagaimana perusahaan akan menghasilkan uang. * Fokus model bisnis: 1. Apakah pelanggan menghargai apa yang telah disediakan perusahaan 2. Apakah perusahaan dapat menghasilkan uang dengan hal tsb. Contoh: Dell sang pelopor model bisnis baru yaitu menjual komputer scr langsung kpd konsumen melalui internet, bukan melalui peritel komputer. Apa yang dilakukan Dell dihargai oleh pelanggan dan tentunya perushaan mendapatkan uang dari kegiatan tsb. * Mengapa manajemen strategik penting? 3 alasan: 1. Dapat membedakan seberapa baik kinerja perusahaan 2. Fakta bahwa manajer di semua jenis dan ukuran organisasi menghadapi situasi yang berubah. 3. Karena organisasi bersifat kompleks dan beragam. * Proses menajemen strategik Analisis SWOT Analisis SWOT Analisis internal: -Kekuatan -kelemahan Analisis internal: -Kekuatan -kelemahan * - Langkah 1: Mengidentifikasi misi, tujuan, dan strategi organisasi saat ini Misi: pernyataan tentang tujuan organisasi Mengidentifikasi misi membuat manajer mengidentifikasi apa yang harus dilakukan organisasi dalam bisnis. Misal: misi l’oreal adalah”hak...
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...PEPPERDINE UNIVERSITY THE GEORGE L. GRAZIADIO SCHOOL OF BUSINESS AND MANAGEMENT LEN RUSHFIELD MBA 610.63 INTERNATIONAL FINANCE SPRING 2005 WEDNESDAY 6:00 PM – 10:00 PM WESTLAKE VILLAGE CENTER SYLLABUS 1 International Finance MBA 610.63 Westlake Village Center Wednesday 1/5-2/16/05 Len Rushfield (310) 474-5848 (603) 843-9683 (efax) leonard.rushfield@pepperdine.edu/ asiaptner@aol.com Course Objectives MBA 610.63 is intended to provide a foundation of understanding of international finance and the critical options for corporate financial management within the global markets. Intensive reading will establish the basis of information on international financial structure, processes and techniques. Cases will identify important real issues and provide experience in understanding alternative solutions and developing methods to reach these solutions. Course Description The course explores the responsibilities of financial managers of multinational firms or firms with multinational affiliates, suppliers, or product markets. Topics covered emphasize exchange rate risks and hedging using derivative securities such as futures contracts, forward contracts and options. International payment mechanisms and financing and trade strategies are examined and applied in a shareholder-value maximization framework. Texts and Course Materials Fundamentals of Multinational Finance, 2003, Moffett, Stonehill and Eiteman; Addison Wesley; ISBN-0-201-84484-2. Cases in International Finance, 2000;...
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...cycle? The typical PLC consists of five main aspects: (1) product development; (2) introduction; (3) growth; (4) maturity; and (5) decline. In the diagram below, the respective sales (in red) and profits (in blue) across these five stages are illustrated. Figure 1 The PLC begins with product development, during which time the firm devises and creates a new product. Whilst the end aim of this development process is to have a profitable, well-performing product on the market, this initial stage is characterised by zero sales, the firm bearing the costs of such development, typically resulting in negative profitability (Kotler and Armstrong, 2004). Recent product developments include the likes of the iPod by Apple and the Serene by Bang and...
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...Executive Summary The focus of this report is on new Apple Ipod product that has created increasing demands in various outlets. This product allows consumers to download not only their favourite music but also books and other literature which can be read and listened to. Additionally this Ipod can be used in your car and in other mobile settings. This report is for Apple to give a brief description of this product. Within this marketing report there is an insight of the situation analysis of this product, marketing objectives, the target market, marketing strategies that have been used and the forecasted strategies, monitoring and controlling. Situation Analysis Market Analysis Internal Influences • Management: Effective management is required for the training and development of employees for the continue innovation of Apple Ipod and for retraining sufficient funds during competitor introducing new product. • Capital Availability: Competition may cause mishap in the cash flow. Sufficient funds must be available when competitors unpredictably put forward their product in the market. • Technological Adoption: Technology must be adopted to improve overall efficiency. It must be integrated directly into operations (to increase productivity), as well stay on date with the amounts of Ipod’s ordered, made and delivered. External Influences: • Competitors: Competitors will regulate what, when, how and why strategies will be adopted. The introduction of...
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...Assessment task Marketing Plan Apple Ipod Contents Executive Summary____________________________________________3 Situation Analysis -Market Analysis_______________________________________________3 -Product Analysis_______________________________________________4 -SWOT Analysis_______________________________________________ 4 -Competitor Analysis ___________________________________________ 6 Marketing Objectives__________________________________________ 7 Identifying Target Market -Selecting Target Market_________________________________________7 -Target Market_________________________________________________7 Developing Marketing Strategies Marketing Mix: -Product_____________________________________________________ ___8 -Price_______________________________________________________ ___8 -Promotion___________________________________________________ ___9 -Place_______________________________________________________ ___9 Implementing the Marketing Plan__________________________________10 Monitoring and Controlling -Developing a Financial Forecast____________________________________10 -Comparing actual and planned results________________________________11 -Revising the marketing strategies____________________________________11 Appendix ______________________________________________________12 Appendix A_____________________________________________________13 Appendix B_____________________________________________________14...
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...Vision, Mission & Values and Generic Strategy MGMT90146 Strategic Management Week2 Tom Osegowitsch and Dean Xu 1 Today’s Agenda House-keeping Vision, Mission & Values; Generic Strategy Yellow Tail Case Capstone: more tips, team formation. 2 Reference Textbooks Grant, R.M. “Contemporary Strategy Analysis” (recent editions) Blackwell Publishing Dess, G.G., Lumpkin, G.T., & Eisner A.B. “Strategic Management” (recent editions), McGraw-Hill Barney, J.B. & Hesterly, W.S. “Strategic Management and Competitive Advantage” (recent editions) Pearson. Hill, C.L.W., Jones, G.R., Galvin, P., & Haidar, A. “Strategic Management: An Integrated Approach” (recent editions) John Wiley & Sons Australia All available in library. 3 RECALL: Elements of Strategic Management Process Strategic Analysis Strategy Formulation Implementation 4 Strategic Analysis Vision, Mission, Values External Analysis Internal Analysis Vision, mission, values; External Analysis; and Internal Analysis are inputs for Strategy Formulation. 5 VISION, MISSION & VALUES Definitions Three interrelated concepts Terms used rather indiscriminately, sometimes synonymously (also: charter, ideology, creed or credo, ethos…) 6 Definitions (cont’d) Collins & Porras 1996 vs. Mission & Values Vision …as defined in this subject 7 Top Management’s Evolving Role Traditional View Defining a clear strategic plan Emerging View Articulating...
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