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Vinyl Records

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by

Elena V

on 24 July 2013

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Transcript of Vinyl Records

Vinyl Central Records
Marketing Plan

SWOT Analysis
Strengths:
- high quality
- warm, natural, rich
- play in any condition
- receive sleeves
- nostalgic
Marketing Objectives
- sell an idea to society about vinyl
- viewpoint of society towards vinyl
- younger generations into the target market
- new compound
Marketing Audit
Introduction to Product
Vinyl Record Company:
Vinyl Central Records

BUY VINYL, AND ARRIVE TO THE FINALS!
Initial Product Overview
- high quality extra durable vinyl recordings
- buy and sell pre-owned records
- auctions
- popular artist up until the 50s but also more obscure artists from the past
- modern pop artists
- limited/collectors editions
Business Mission Statement
- new types of music
- superior sound quality

Corporate Objectives
- increase popularity
- signing pop artists
- increase target market
Secondary Research Findings
- survey was conducted
- 61 people
- international
- age 45-54 and 15-17
- mostly positive feedback
- Beatles, Phil Collins
- The Lumineers, Adele
- 10-20 or 20-30
PESTLE Considerations
Political:
- political influence
- political stability
- free market economies (American, European)
Primary Research Findings
- global vinyl sales had reached 171 million dollars in 2012
- 52 percent increase from 2011
- highest number of vinyl sales since 1997, in which it reached $166 million
- event called Record Store Day
- 350 items exclusive; 92 percent of them were vinyl releases
- $30 million jump in record sales from 2006 to 2008
- Vinyl records have come back to stay

Economic:
- high tax levels in France
- recession
- incentive to sell old vinyl
- financial crisis
Social:
- UK population statistics
- middle age consumers
- full time employment
Technology:
- risky to invest in facilities
- vinyl record durability weakness
Legal:
- respects law
- consequences of conflict
- health and safety
- no racism
Environmental:
- recycled materials
- equipment will be sourced locally
Weaknesses:
- change in volume
- fragile
- (expensive)
- non customizable for music choices

Opportunities:
- extensive market
- luxury good product
- innovative and new
- lower prices
Threats:
- competition
- Apple CD producers
- music industry is enormous
- idea is easy to imitate

Marketing Strategy
Target Market:
- middle aged populations
- influence younger generation
- press modern pop music
- customers will feel more comfortable

Strategy of Entry:
- increase price of record as profit margin
- cheaper product increase sales
- price variation depending on record
- auctions on valuable originals
Marketing Tactics
Price:
- initial investments and overheads
- popular retail brand
- market power
- pricing products

Product:
- opening new opportunities
- signing influential artists
- durability issue
- partnership
- sleeves
Place:
- influential locations for society
- potential customers
- growth in fame and popularity
Promotion:
- website
- newspaper advertisements
- television adverts
- internet
Implementation
Finance
- New York, London, Paris
- access to the main market
- residents
- aspect or retail

A- Amount of finance necessary
- total investment 3.571.00€
- partnership 30000€ per month + 7% of our profits per year
- renting 180000€
- several expenses 25.000€
- start up 250.000€
- marketing 1.100.000€
- working capital 1.000.000€ + 1.000.000 if necessary
B- Conditions for loans
- 600.000€
per year
- 4.000.000 in 7 years to the bank
Full transcript