12/30/2019 0 Comments
Music Buisness Plan - Assignment Example For profit entities major stakeholders include customers and investors while in non-profit entities key stakeholders are donors. On the other hand, business plans that are internally focused embark on attaining intermediate goals so as to reach external objectives. Company description Due to the increased need by individuals to engage in health maintenance programs offered by various SPA centers, my Idea is to establish a music company that will ensure adequate relaxation and enjoyment with the SPA centers. On the Beat Company (OBC) will embark on producing Rhythm and Blues (R&B) music. In this way, the company aims at providing various genre of music that make up the contemporary (R&B) music that includes funks among others. In this way, the company targets both the old and young clients who visit the centers. To expand its capital base, OBC will operate as a limited company. In this way, it will attract more investors who will be focused at contributing a significant capital to receive high dividends. OBC mission statement is to provide high quality entertainment that will ensure it capitalize on the expanding music industry across the world. Product and services As mentioned earlier, OBC embark on producing (R&B) music. Do to the high demand of this type of music especially among the young people, the company is focused at expanding its sources of revenue by engaging in various income generating activities that are related to the music industry as outlined in this section. Ringtones OBC will provide an opportunity to ensure that our customers can subscribe for ringtones in monthly bases. Each ringtone will cost US$1. With the partnership of a local mobile company, OBC will provide a framework that will streamline the sharing of profits generated by the monthly subscriptions from our customers. Based on the high number of our customers who owns mobile phones, OBC will generate a significant amount of funds that will enhance our expansion. Selling of albums In order to ensure that our customers can regularly enjoy our services in the health centers and back in their homes, OBC will also embark on selling its albums in the local and international market. Selling and loading of flash disks In the contemporary world, individuals who possess computers like to listen to a wide range of music while undertaking their duties. In this regard, OBC will embark on selling flash disks to our clients and then loading them with music at a fee. In order to attain a competitive advantage, OBC will utilize mobile phones, Ipods and social sites such as twitter and face book to communicate with our customers. As the number of clients who visit the SPA centers increase day by day, we expect our customer base to expand thus increasing our total sales. Marketing plan The new technology in the music industry has resulted into a stiff competition that has forced many companies to depart from the traditional lines that created divisions among the artists and recording companies among other stakeholders. In the same way, the growth of music companies has been enhanced as a result of extensive marketing and promotional strategies through free services such as you tube, face book and twitter. One of
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