Steinway and Sons Harvard Case Solution & Analysis

Introduction

Steinway and Sons is the leading and well recognized company for producing high quality pianos. The company is established in the year 1953 by the Henry Engelhard Steinway and is located in the New York City. Moreover, the company has grown very quickly from the beginning of its establishment because of its technical excellence. The company has also win the gold model only after 1 year of its start at the Metropolitan Fair in Washington D.C. Steinway and Sons won another prize in New York exhibition due to introducing cross stringing technique.

Additionally, company has constructed new as well as the larger factory in the year 1860in New York.  In the year 1879, Henry Engelhard Steinway died and after his death the responsibilities of the leadership were transferred to his son, William. He expand and consolidate many business operations while continuing various business practices of his father.

In the year 1875, new London Sales Branch opened while in the year 1880 new factory was built in Hamburg in order to serve their international sales. The company has become the member of the CBS Musical Instrumental Division in April 1972. As well, CBS appointed Peter Perez as the president of the Steinway and Sons due to his high experience in the industry.

The company has two segment for piano that include Grand pianos and Vertical pianos. Also Grand pianos are more expensive and larger in comparison with the vertical pianos. The Grand pianos has much smaller market to serve than the Vertical pianos.

Analysis of the case questions

Being at the position of Peter Perez’s its suitable to proceed with the reintroduction of the Model K. As, the competition in the industry is growing largely, both at international as well as domestic level and company currently do not have many options available to consider in order to enhance the growth and overall performance of the Steinway and Sons.

Furthermore, Steinway Model K is considered in the industry to be the best model that Steinway has offer in its upright range and this is the most appropriate option for the company this time. Also, the increase in competition especially from the Japanese firms and it will take more time as well as cost to look for another alternative that help to increase the sales of the company.

So, introduction of the Model K will also help the company to attract the larger amount of the customer who are unable to afford the expensive grand pianos as well as those who consider the grand pianos too large. The introduction of Model K will allow the company to increase the sales of the vertical pianos that have less market shares as compared to the grand pianos.

Analysis will also focus on developing the business and competitive strategies that continuously evaluate the activities and actions of the competitors that help to make better improvements in the new project of model K. In addition to this, strategies will also focus on determining the internal as well as the factors in order to successfully introduce the model K.

Being at the place of Peter Perez’s, I will also conduct the market research regarding the customer response on the reintroducing of the K model as this allows to analyze the reaction and impact of the K model  in the market .

I will also develop the contingency plans that will be use in the uncertain situation and conditions during the development and implementation process of the model K of the company. I will also focus on the difficulties and problems in the manufacturing and distribution of the model K pianos by making timely and accurately effective decisions.

These decisions may include hiring of skilled and capable labor that play an important role in the complete manufacturing process for the model K as company is currently facing this problem that’s need to be overcome.

Moreover, the company is currently suffering from the limited resources and time situation so it will best solution to proceed with the Model K as it is already established brand of the company in the industry as well as it will be less uncertain to go for this option.

In addition to this, it will be difficult for the company to search for other options with the situation of limited resources and time. Also, the manufacturing and implementation of another alternative will require more expenses and search as well as can be more risky and can impact the profitability of the company in comparison with the Model K. I will also focus on the pricing strategies of the Model K that must attract the customer towards purchasing the Model.....................

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