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Something Global Marketing Campaign
Transcript of Something Global Marketing Campaign
Something Global Radio is a private limited company
Created and operated and by four individuals with passion for music, with two being DJs.
Weekly Radio show -platform for emerging DJ's and producers
Music nights in various clubs
Owner Steve "butch" Jones-currently training to be a music producer-20 years music experience
Area of weakness
Marketing Campaign Something Global
Unknown radio show
Competition from other well known club nights
Already established down load sites.
Target Market 16-35 year olds *
Customers who have previously attended club nights.
Radio show listeners
250 DJ’s worldwide who send in track mixes
After marketing campaign new students
More producers & DJ's
Set up a DJ stand at all university open days, liverpool and Manchester
Run a competition for free tickets to next music night-this way obtaining contact details.
Give out flyers with the link to web site-offers first 10 free downloads to first 100 who register.
DJ on the Megabus on last day of term to all major cities
Identifying your target market is crucial and what the potential obstacles are and competitors
Once target market is identified clearly position the service it is offering
Identify the basis on which it wishes to compete then position its services in a clear and unique way . Meek & Mensor ( 2001)
Cost Leadership, Differentation, Niche Marketing
Strengths- Music experts & existing client base of DJ's and producers
Weakness- New company-unknown
Opportunities- downloading of music is growing -new technology
Threats- Illegal file downloading
POLITICAL -INABILITY TO LOAN DUE FUNDING WITHDRAWAL
ECONOMICAL -RECOVERY FROM RECESSION/ DOWNLOAD PIRACY RISK TO INCOME
SOCIOLOGICAL - SOCAIL MEDIA-SUPER CHARGED WORD OF MOUTH MUSIC EVER GROWING POPULARITY
TECHNOLOGICAL- THE ADVANCEMENT IS OF TECHNOLOGY GREAT BENEFIT FOR FASTER DOWNLOAD-FIBRE OPTIC ETC
A cost-leadership strategy provides consumers with products or services comparable to those offered by competitors at lower prices (Porter 1985). This strategy can lead to above-average returns because it enables firms to lower prices to match or beat their rivals and still earn profits (Philips, Chang, and Buzzell 1993 ,Aulakh ,katobee Teegan (2000) Dess and Davis (1984) , Spanos Diralis,Lioukas (2004)
A differentiation strategy creates customer value through means such as innovative products, superior quality and technology, a differentiated brand image, good service, and so forth, which distinguish the firm from its rivals
It represents an external focus that is designed to enhance customer satisfaction and to create customer loyalty by meeting a particular need. Thus, a differen tiation strategy ensures durable performance superiority after it is established
WHAT MAKES US DIFFERENT TO OUR COMPETITORS ?
HOW DO WE ACHIEVE COST LEADERSHIP?
DO WE HAVE A NICHE?
OFFERING AN EASIER FASTER WAY TO INSTANTLY DOWNLOAD A TRACK YOU LIKE
A UNIQUE PICK AND PLAY SYSTEM
DOWNLOAD VIA YOUR MOBILE
RADIO SITE HAS NO ANNOYING ADVERTISEMENTS!!!
PAYING MORE TO THE PRODUCER'S AND DJ'S THAN OTHER DOWN LOAD SITES.
NO OTHER DOWNLOAD SITE HAS A RADIO SHOW-GIVING A NICHE IN THE MARKET WERE PRODUCERS AND RECORD LABLES HAVE A PLATFORM TO SELL SONGS.
According to Porter’s (1995) generic strategy theory, firms can achieve competitive advantage by relying on one of two fundamental sources of competitive advantage: cost leadership or differentiation. In contrast, Hill (1988) and Murray (1988) argue that a dual strategy that combines cost leadership and differentiation can lead to superior performance. Existing studies provide some empirical evidence of the positive effects of strategic choices
Flyers- Good for advertising club nights
Pens- Inexpensive way of promoting web link
Radio-TV -Too expensive
Website- Already set-up and ready for new software
Magazines-electronic as customers can click on the link
Social Media- perfect for sending out the link for new mobile app.
WHAT WORKS FOR US?
Internet & Music mags -Why
The latest World Internet User and Population Stats show that there are now more than 2.4 billion people connected to the Internet. (Internet World Stats. (2014)[Online])
With companies like internet.org looking at ways to connect the next 5 billion. With growth like this it is inevitable on-line electronic music will continue to grow and will move in to new markets.
We will see electronic music crossing over in to the main stream just as we have in the last few years in America with EDM. IMS estimates that globally EDM is now worth over $4.5 billion annually with $1.25 billion spent on recorded music. (Watson, K. (2013)[Online]). In the UK alone the office for national statistics show that 36 million use the Internet every day. (ONS. (2013)[Online]
Resident Advisor Mag on-line music mag 15,100,000 hits a month
Caters for target Audience
To provide an instant download service from their website also a unique mobile app
To give a fairer profit split to producers and DJ's for MP3's
To raise the profile of company and make the club nights profitable
To be known and respected as one of the leading download sites for EDM
To expand on social media profile and make a profit!!
Electronic music has been widely accepted as part of the main stream in the UK for over 20 years and is regularly played on radio or on TV. The BPI showed in 2013 that more than 1 in 6 singles sold were electronic music BPI. and in the US a study by Market Wired in the USA showed that of 1,019 adults who were questioned, 410 of them were Electronic Music listeners. This equates to roughly 40% of the study.
WHY ELECTRONIC DANCE MUSIC ?
Google owns the lion’s share of the search engine market; it makes their advertising platform Adwords the biggest platform for Pay Per Click (PPC) marketing. Adwords lets you create text and image based advertisements targeting people who search for specific keywords (you bid on keywords in an auction type market) and terms in the Google search box. You can also get very specific in when your ad displays, making your marketing dollars very efficient
Pay Per Click
Niche marketing has been deﬁned as “a method to meet customer needs through tailoring goods and services for small markets” (Stanton et al., 1991), or “positioning into small, proﬁtable homogenous market segments which have been ignored or neglected by others” (Dalgic and Leeuw, 1994). A third explanation is “a marketing strategy that uses product differentiation to appeal to a focused group of customers” (Phillips and Peterson, 2001, p. 1). Also, Kotler (2003) characterises niche marketing as focusing on customers with a distinct set of needs who will pay a premium to the ﬁrm that best satisﬁes their needs, where the niche is not likely to attract other competitors, where the niche ﬁrm gains certain economies through specialisation, and where the niche preferably has sufﬁcient size, proﬁt and growth potential.
Something Global will achieve their objectives and competetive advantage if they ensure they keep up their marketing strategy, and otain the resources needed. Music industry is a growing industry and with their new technology I feel they have a Niche.
S M A R T
Specific- goal to become a download site
Measurable- the amount of visits to site can be measured.
Achievable- the demand for MP3 is increasing as consumers no longer prefer to buy CD's.
Realistic- The website is established and capital available
Timely- Electronic music is in constant demand and web site ready for app
Frambach,Prahu, Verhallen (2003), Hutchison et al (2007) Porter (1980) Hill (1988) ,Knight & Cavusil (2004) Mittal et al (2005)
A differentiation strategy is an attempt to create value that consumers perceive as unique, thus enabling the firm to build customer loyalty and command premium prices that exceed the extra costs associated with the strategy. A dual strategy simultaneously emphasizes cost leadership and differentiation, which may yield superior performance compared with competitors (Beal and Yasai-Ardekani 2000). (Myers and Harvey 2001; Porter 1985).
SOMETHING GLOBAL CURRENTLY HAS BOTH
Aulakh, P.Masaaki, Kotabe, A. Teegen, K. (2000), “Export Strategies and Performance of Firms from Emerging Economies: Evidence from Brazil, Chile, and Mexico,” Academy of Management Journal.
Dess, G. Davis, P. (1984), “Porter’s (1980) Generic Strategies as Determinants of Strategic Group Membership and Organizational Performance,” Academy of Management Journal.
Frambach, R. Prabhu T. Verhallen S (2003), “The Influence of Business Strategy on New Product Activity: The Role of Market Orientation,” International Journal of Research in Marketing’
Hill, C. (1988), “Differentiation versus Low Cost or Differentiation and Low Cost: A Contingency Framework.” Academy of Management Review.
Hutchinson, K, Nicholas A, Quinn, B. Doherty, A. (2007), “Internationalization Motives and Facilitating Factors: Qualitative Evidence from Smaller Specialist Retailers,” Journal of International
Knight, G .Tamer, Cavusgil (2004), “Innovation, Organizational Capabilities, and the Born-Global Firm,” Journal of International Business Studies.
Murray, Alan I. (1988), “A Contingency View of Porter’s Generic Strategies,” Academy of Management Review.
Philips, L. Dae R. Chang, Robert D. Buzzell, S. (1983), “Product Quality, Cost Position, and Business Performance: A Test of Some Key Hypotheses,” Journal of Marketing,
Porter, Michael E. (1980), Competitive Strategy: Techniques for Analysing Industries and Competitors. New York: The Free Press.
Spanos Y. Zaralis ,G Lioukas, S. (2004), “Strategy and Industry Effects on Profitability: Evidence from Greece,” Strategic Management Journal
. Market research has determined our current pricing strategy with semi professional standard (MP3 320kbps) priced from .79p to £1.79 and professional standard, (WAV, AIFF and FLAC) priced from .99p to £1.99, this makes us very competitively within our market place.
(Primary research survey carried out S. Jones 01/04/2014 indicated 16-35 willing to pay for MP3's although older customers still listen to EDM)
Beatport currently market download leaders with 5,760,145 hits per month. If Something Global take even 1% of this market they will still be successful .