Beats by Dr Dre : The hippest celebrity endorsed headphones
They were lucky enough to find a niche in the market and identified a problem that they needed to fix. The downward spiral of global record sales and audio gear due to Apple’s plastic ear buds was their inspiration behind launching the worlds most innovative celebrity endorsed headphone brand.
Owning 70% of the premium headphone market space and now 100% owned by Apple inc you gotta hand it to Dr. Dre and Jimmy Iovine they did a stellar job in building up Beats brand equity which lead on to the largest acquisition deal in the history of Apple.
These two hip hop music moguls understood the need to master a product that’s aligned with music, art and technology.
Celebrity endorsements and sponsorship deals remain at the forefront of their genius marketing strategy and have paved the way for their critically acclaimed brand that has seen golden commercial collaborations with top international artists such as Will.I.am, Robin Thicke, Britany Spears and Lebron James.
Iovine once sent a pair to the Basketball dude Lebron to try out… he immediately got a call back asking for x 15 which were given to the US 2018 Olympic basketball Team. “Now that was marketing,” said Iovine.
These guys don’t just look at product or the best margins they are seriously looking for the next best thing that captures what consumers want to learn about.
They are constantly looking for opportunities to further develop the brand as technology continues to advance – Everyone wants a pair of Beats headphones, its the brand to be seen in to get recognised and its a brand that is built on want and desire.
What’s even more genius is how they figured out the name for the business….
[Dre] said, ‘You know I use this word ‘beats,'” Iovine said. “‘You know, I make beats, right, so ‘Beats by Dr. Dre.”
…..and that was the beginning and start of the Beats empire.