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International and strategic marketing
Pages 16 (4016 words)
Executive summary The music industry comprises of four broad segments song writing and publishing, recording, live music and artist management (BPI 2012). The recorded music sector has been the dominant segment in terms of revenues since the introduction of music records, a situation that was enhanced further by consolidation which led to the emergence of four major conglomerates.
This paper describes the rise of the recorded-music industry, the emergence of disruptive technologies and the effect of this disruption on the marketing strategies of today’s recording industry companies. The marketing strategies are discussed in perspective of the 7Ps of marketing. 3Ps are identified and analysed as potential channels for implementing marketing strategies that could mitigate the threat to recording industry’s digital music sales posed by free and illegal peer-to-peer (P2P) file-sharing websites. Table of Contents Executive summary 1 Table of Contents 2 2.0.Marketing strategies in the Music Industry 6 2.1.Product 7 2.2.Price 8 2.3.Place 8 2.4.Promotion 8 2.5.People 9 2.6.Process 10 2.7.Physical evidence 10 2.8.Section summary 10 3.0.Topics impacting the industry 11 3.1.Changing process using partners and intermediaries 11 3.2.Promoting legitimate digital music using merchandise and concert business 13 3.3.Repackaging physical evidence 14 4.0.Conclusion 15 References 16 1.0. ...
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