Case study report on Bang-Olufsen:
Project instructions:
A 2500 word written report based on a given case study. Students will analyse the situation presented in the case and formulate solutions to different brand management problems.
Focus your report on the two key questions and use appropriate industry models to support your answers. Examine how space is an important factor for brand coherence. Provide examples and visuals in the appendix where applicable.
1. When you consider global luxury brands, how does the physical space they reside in extend and exemplify the brand and create deeper brand value and engagement for the consumer?
2. How important do you think this aspect is for B&O and how do they adapt to different cultures? How are the brand values sustained through the independent retail network? Provide examples where there is evidence of this and compare and contrast how B&O present their space in the market space of similar brands.
You may choose upto two other similar brands to discuss and contrast.
Andy Warhol once said: Someday, all department stores will become museums, and all museums will become department stores.?
The B&O brand began in Denmark in 1925, by two enterprising young engineers, Peter Bang and Svend Olufsen. They created the business that was to become an international design icon and a global brand that encapsulates audio-visual excellence.
Today Bang & Olufsen is world renowned for its distinctive range of quality televisions, music systems and high-performance loudspeakers; products that combine technological excellence with emotional appeal in a sensational design language.
Bang & Olufsen products are sold mainly by an extensive, independent retail network across more than 100 countries. The majority of these retailers are concept stores, which exclusively sell Bang & Olufsen products. Watch the video on how to join the retail network:
https://www.youtube.com/watch?v=6WgBq9_OgO4&feature=youtu.be)
Besides entertainment products for the home environment, Bang & Olufsen applies its acoustic skills and design competences in creating high-performance sound systems for the high-end car industry, bringing the entertainment experience to a new level.
Ideal and Values:
Source: https://www.bang-olufsen.com/en/the-company/heritage/our-values
B&O Ideal:
At Bang & Olufsen we act from our Ideal. Our Ideal expresses our reason for being and is the guiding principle for our actions:
“Bang & Olufsen exists to move you with enduring magical experiences”
B&O Values: Our Ideal is based on the values inherent in Bang & Olufsen.
It is through living the values that we fulfill the promise of our Ideal.
Passion We bring passion to everything we do. Our passion is what creates the magic our customers experience whenever they interact with Bang & Olufsen.
Pride We are proud of creating experiences that break barriers and set new standards of performance. By taking pride in everything we do, we ensure that we continue to bring our customers magical experiences.
Persistence We are persistent in our dedication to excellence and our commitment to build a healthy and sustainable business. We do this by leveraging focus and resolve to turn our raw ambition into truly magical experiences for our customers.
Use these links to help start your research more on B&O.
https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9791053/Bang-and-Olufsen-to-shut-125-shops.html
https://www.bang-olufsen.com/en/the-company/heritage/our-values
Johannes Torpe will be talking at Regents University on 10th of October about creating luxury branded spaces and it is imperative that you attend and reflect in your report what you learn from this talk. Johannes is the Creative Director for Bang & Olufsen (he also has a very successful creative agency working within branded spaces for Ferrari and other well known luxury brands.) See the first video listed above. Johannes will be covering: His personal experience, working with the different types of clients in the luxury sector, B&O and the branded space.
From the Programme Handbook:
A: Knowledge and Understanding
A1 Understand the impact of global contextual forces on organisations operating within the luxury market. This includes legal systems, ethical, economic, social and technological change issues.
A2 Demonstrate advanced knowledge of the global luxury industry, its sectors and markets, and of the specificities of luxury consumption.
A3 Critically evaluate concepts, processes and institutions in the design, development, production and marketing of luxury goods and services, including management of resources, strategies, operations, and project planning.
A4 Interpret the development and management of brands within the luxury context. This includes advanced critical understanding and application of relevant theories, frameworks and models.
A5 Appreciate the concept of luxury from a historical and cultural perspective.
B: Cognitive Skills
B1 Demonstrate critical thinking and creativity when analysing business and management issues. This includes organising thoughts, analysis, synthesis, and critical appraisal.
B2 Demonstrate problem solving and decision making skills. This includes establishing criteria, using appropriate decision-making techniques and designing systematic solutions to business and management problems within the luxury context.
B3 Make critical and integrated use of information in the field of the management of luxury brands.
B4 Conduct research into business and management issues relevant to luxury. This includes research design, data collection, analysis, synthesis and reporting.
C: Practical and Professional Skills
C1 Communicate effectively complex ideas and arguments, utilising a range of media appropriately.
C2 Demonstrate numeracy and quantitative skills.
C3 Use communication information technologies effectively to industry standards.
C4 Deal with complex issues both systematically and creatively, and make decisions in complex and unpredictable situations, in the absence of complete data.
D: Key Transferable Skills
D1 Plan and implement projects in a self-directed and autonomous manner.
D2 Engage in active critical self-reflection.
D3 Operate effectively within team environments.
D4 Demonstrate cultural sensitivity, and critical awareness of ethical issues.