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CHM Vision City Music Review
1
CHM Rait Musik Store
Option A
Option C
Option B
Current Layout
Stand alone Music Store
Proposal
Include Music and
related products
Specialized leaders in electronics
EMTV Music Show
Pros:
- Leverage outstanding reputation in music industry since 1980 (35 years)
- Immediate brand association with music
- Perception by customers and musicians that we are the experts
- One stop music shop
- Range and variety (however maintain focus on core models with higher turnover rate (volume)
- Not just low end models
- Can leverage from Supersound artists and new releases
- Brand strengthening and collaboration with subsidiary Rait FM Radio Station and Rait Musik TV Program
Radio Station
Option A same
Strategically leverage our Radio Station and TV Program to drive traffic into CHM Rait Musik Music Retail Store
Option
A
B
C
Sony exclusive area
Music area
- PA
- Guitars
- Drum kits
- Keyboards
- Mics etc
Rait FM Live Crosses for promotions
Exclusive Store Appearances
And Many More!
- Rait Musik TV program directing customers into
CHM Rait Musik Store for exclusive merchandise
such as TV shirts, caps, posters etc (another untapped revenue earner to build the brand)
- Stage mini concerts to promote a new song within Vision City Shopping Mall to drive traffic and sales in CHM Rait Musik Store
Sony Exclusive
In-store
Exclusive New
Album Launches
CHM Vision City
Music Review
Pros:
- Growth potential
- Great GP% average
- Additional sales
Let's Discuss!
1. What is VC1 identity?
- Are we an electronic or music outlet?
- Are we both?
2. What do we want to be known for?
- Are we experts in all things electronics?
- We bring in the latest electronic lifestyle products
- Excellent customer service
- Unique and enjoyable experience
- We sell quality products that look/sound better and last longer
- Are we experts in music instruments?
- We carry limited range of music products
- Our prices are the best value in town
- We are experts in everything? We sell a little of everything?
3. What is our focus?
- Should we focus on core products/models that generate high turnover sales?
- Should we focus on attracting key target customers based on sales data by purchase and product category and further grow sales? Or should we target everyone and anyone?
Understanding our identity, who we are, what we want to be known for by our customer and applying focus will allow us to streamline our limited resources and invest in further growth in VC1.
Cons:
- 3.5% sales contribution
- Area allocated to music generates K913.30 sales per sq.mtr. To be profitable, target sales is K2000 and above per sq.mtr.
- Irregular supply of top sellers
- Small range of music instruments
- Limited floor space
- Large size of inventory e.g. PA, drum kit etc