Harvard Case - Mobiado Luxury Mobile Instruments: Form over Features
"Mobiado Luxury Mobile Instruments: Form over Features" Harvard business case study is written by Margaret Osborne, Ken Kwong-Kay Wong. It deals with the challenges in the field of Marketing. The case study is 13 page(s) long and it was first published on : Jun 9, 2016
At Fern Fort University, we recommend that Mobiado implement a multi-pronged strategy to address its challenges and capitalize on its unique brand positioning. This strategy involves a combination of product diversification, targeted marketing, and strategic partnerships to expand its reach, appeal to a wider audience, and ultimately drive sustainable growth.
2. Background
Mobiado, a luxury mobile phone manufacturer, has carved a niche for itself by prioritizing design and craftsmanship over technological features. Its products are marketed as status symbols, appealing to a discerning clientele seeking exclusivity and premium quality. However, Mobiado faces several challenges:
- Limited market reach: Mobiado's high prices and focus on design over features limit its potential customer base.
- Competition: The luxury smartphone market is increasingly crowded with brands like Vertu and Goldvish, posing a significant threat to Mobiado's market share.
- Technological stagnation: Mobiado's focus on design has led to a lack of technological innovation, potentially alienating tech-savvy customers.
- Brand perception: Mobiado's brand is perceived as exclusive and expensive, potentially hindering its ability to attract new customers.
The case study centers around the company's founder and CEO, Peter Bonac, who is grappling with these challenges and seeking a path forward for Mobiado.
3. Analysis of the Case Study
To analyze Mobiado's situation, we can utilize the SWOT framework:
Strengths:
- Unique brand positioning: Mobiado's focus on design and craftsmanship creates a distinct brand identity, attracting a niche market.
- High-quality materials and craftsmanship: Mobiado's use of premium materials and meticulous manufacturing processes ensure product quality and durability.
- Strong brand reputation: Mobiado enjoys a positive reputation for exclusivity and luxury, attracting discerning customers.
Weaknesses:
- Limited product portfolio: Mobiado's product range is narrow, limiting its appeal to a wider audience.
- High price point: Mobiado's premium pricing strategy restricts its potential customer base.
- Lack of technological innovation: Mobiado's focus on design has led to a lack of cutting-edge technology, potentially hindering its appeal to tech-savvy customers.
Opportunities:
- Expanding into emerging markets: Emerging markets offer significant growth potential for luxury brands like Mobiado.
- Diversifying product offerings: Introducing new product lines with varying price points and features could attract a wider audience.
- Leveraging technology: Integrating advanced features and technologies could enhance Mobiado's appeal and competitiveness.
- Strategic partnerships: Collaborating with other luxury brands or technology companies could expand Mobiado's reach and brand awareness.
Threats:
- Intense competition: The luxury smartphone market is increasingly competitive, with established brands and new entrants vying for market share.
- Economic downturn: A global economic downturn could negatively impact demand for luxury goods, including Mobiado's products.
- Technological advancements: Rapid technological advancements could quickly render Mobiado's products obsolete if they fail to adapt.
- Negative brand perception: Mobiado's brand perception as exclusive and expensive could hinder its ability to attract a broader customer base.
4. Recommendations
Mobiado should implement the following recommendations to address its challenges and achieve sustainable growth:
Product Diversification:
- Introduce new product lines: Mobiado should develop new product lines with varying price points and features to appeal to a wider audience. This could include more affordable models with basic functionality but maintaining Mobiado's design aesthetic, or higher-end models with advanced features and materials.
- Focus on technological innovation: Mobiado should invest in research and development to incorporate cutting-edge technology into its products. This could include features like AI-powered assistants, enhanced camera capabilities, and improved battery life.
- Expand into wearable technology: Mobiado could explore the growing market for luxury smartwatches and fitness trackers, leveraging its design expertise and brand image.
Targeted Marketing:
- Develop a multi-channel marketing strategy: Mobiado should leverage a combination of traditional and digital marketing channels to reach its target audiences. This could include print advertising in luxury magazines, online advertising on premium websites, social media marketing, and influencer partnerships.
- Focus on brand storytelling: Mobiado should create compelling narratives that highlight its craftsmanship, design philosophy, and brand heritage. This could be achieved through high-quality content marketing, brand videos, and engaging social media campaigns.
- Target specific market segments: Mobiado should identify and target specific market segments with a strong affinity for luxury goods and design. This could include affluent individuals, business executives, and celebrities.
Strategic Partnerships:
- Collaborate with luxury retailers: Mobiado should partner with high-end retailers specializing in luxury goods to expand its distribution network. This could include department stores, boutiques, and online marketplaces.
- Form alliances with technology companies: Mobiado could collaborate with technology companies to integrate their latest innovations into its products. This could include partnerships with software developers, hardware manufacturers, and AI specialists.
- Engage in co-branding initiatives: Mobiado could collaborate with other luxury brands to create limited-edition products or joint marketing campaigns. This could enhance brand awareness and appeal to a wider audience.
5. Basis of Recommendations
These recommendations address Mobiado's core competencies by leveraging its design expertise and craftsmanship while expanding its product portfolio and market reach. They are consistent with Mobiado's mission of providing high-quality, luxury mobile devices by appealing to a broader audience while maintaining its brand identity.
These recommendations consider both external customers and internal clients by addressing the needs of discerning consumers while ensuring the continued success of Mobiado's business. They also acknowledge the competitive landscape by emphasizing technological innovation and strategic partnerships to maintain Mobiado's competitive edge.
The recommendations are attractive from a quantitative perspective as they have the potential to increase revenue, market share, and brand equity. They also consider key assumptions regarding technological trends, consumer behavior, and market demand.
6. Conclusion
Mobiado has a unique opportunity to capitalize on its brand positioning and expand its reach by implementing a multi-pronged strategy. By diversifying its product offerings, targeting specific market segments, and forging strategic partnerships, Mobiado can achieve sustainable growth while maintaining its reputation for luxury and craftsmanship.
7. Discussion
Other alternatives not selected include:
- Maintaining the current strategy: This would involve continuing to focus on design and craftsmanship while ignoring technological advancements. This approach carries a high risk of market irrelevance and declining sales.
- Focusing solely on technological innovation: This would involve prioritizing cutting-edge features and technologies while neglecting design and craftsmanship. This approach could alienate Mobiado's existing customer base and dilute its brand identity.
The risks associated with the recommended strategy include:
- Product development costs: Developing new product lines and incorporating advanced technologies could be expensive and time-consuming.
- Marketing expenses: Implementing a multi-channel marketing strategy and engaging in strategic partnerships could require significant marketing investments.
- Competitive threats: Mobiado's competitors could respond to its new strategies, potentially intensifying competition and eroding its market share.
Key assumptions underlying the recommendations include:
- Consumer demand for luxury mobile devices: The market for luxury mobile devices is expected to continue growing, providing opportunities for Mobiado to expand its customer base.
- Technological advancements: Continued advancements in technology will provide Mobiado with opportunities to incorporate new features and functionalities into its products.
- Strategic partnerships: Mobiado will be able to successfully form strategic partnerships with other companies to enhance its product offerings, marketing efforts, and distribution network.
8. Next Steps
To implement the recommendations, Mobiado should take the following steps:
- Develop a detailed product roadmap: This roadmap should outline the development and launch of new product lines, including features, pricing, and target markets.
- Create a comprehensive marketing plan: This plan should detail the use of different marketing channels, target audiences, and marketing budgets.
- Identify potential partners: Mobiado should initiate discussions with potential partners in retail, technology, and other luxury industries.
- Allocate resources: Mobiado should allocate the necessary resources for product development, marketing, and partnership initiatives.
By taking these steps, Mobiado can effectively implement its growth strategy and achieve its long-term objectives.
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Case Description
In 2016, the founder and sole owner of Mobiado, a Canadian line of luxury mobile phones, was evaluating his company's marketing strategy. Proud of what he had achieved and passionate about his role as designer of one of the most unique and distinctive product lines in the category, he reflected on how he might need to adjust his company's strategies to fit current trends and to remain competitive. Could the Mobiado product line continue to succeed by offering exclusive precision-engineered mobile instruments without the latest smartphone features? Would the new breed of luxury consumers continue to value form over function?
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