Business Administration and Marketing - Essay Example

Company managers are able to book the band’s performances and create album sales throughout Macau and begin to spread the music to mainland China. This business plan will show that the band will become successful. Each year, its sales and revenue are planned increases that are an indication of the band’s success.

Band Description

WhyOceans consists of 6 members based in Macau. Their music combines rock and psychedelic elements and falls into the “Post-Rock” genre, with roots stretching back to the early days of Pink Floyd.  Post-Rock music is currently an expanding genre.  WhyOceans will create a unique stylized image for itself that will help with promotion. WhyOceans’ songs are catchy, melodic, and unique. That is the first selling point for the band. None of WhyOceans’ songs sound the same, and while they are stylistically similar there are noticeable differences.

Marketing

WhyOceans will employ an integrated mix of low-cost, highly effective tools and tactics for getting its message out to its growing audience. The band will target Post-Rock music listeners that geographically reside in China including Mainland China, Macau, Hong Kong, and Taiwan. The age range of the target market is twenty to fifty years old.  WhyOceans will the band will sell CDs and other merchandise through performances, which will consist of festivals and events at other places.  The band will also sell records through record stores, and online stores.

Technology

WhyOceans have its own website.  The website will include information about the band, touring information, contact information, a message board, free downloads, a special features page, and an online store.

Financials

In the first year, the band is expected to experience a net loss of MOP13,810.  There will be a net loss because there are numerous expenses the band will have to face. The revenue earned will not be enough to cover all the expenses.  During the second year, it is projected that the band will have a net income of MOP79,020.  This net income is primarily a result of the growing popularity and the fact that no recording costs are incurred during the second year.  In the third year, the band will have a net income of MOP90,255.

Chapter 1

Introduction to the Business Concept

This business plan will offer attractive, forward-looking incentives for investors, booking agents, record company managers, and the band itself, to provide them with a good understanding of the industry and its business concepts. This will enable the value of the band WhyOceans to increase. This is the first step in developing the business. WhyOceans will be a profitable band and through this business plan, I will create an initial three-year projection for the development of the business and band, WhyOceans. This concept will set the rehearsal schedules that coincide with venue planning and the decision of when to create albums for sale. This business plan describes the strategy which the band will use to assist in achieving success.

.1 Objectives

Overall, WhyOceans seeks to be a self-contained economic unit, focused on music and entertainment products and services. WhyOceans objectives for their music are as follows:

• To release the first album in the first year.
• To financially break even within two years.