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Case Study On Tribute Limited Company | Music Industry

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Added on  2020-02-03

Case Study On Tribute Limited Company | Music Industry

   Added on 2020-02-03

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CASE STUDY B:TRIBUTE LIMITED
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Evaluating senior citizen, market of music as well as concept of marketing.........................1TASK 2............................................................................................................................................2A) Completion of table...........................................................................................................2B) Representation of data using graphs..................................................................................2TASK 3............................................................................................................................................4A) Analysis and evaluation of results of combined................................................................4b) Mean of the biasness as well as biasness in the data collection.........................................7C) Ways for improving the data collection............................................................................8TASK 4............................................................................................................................................8A) Age group's median value along the interpretation...........................................................8B) Cross tabulation.................................................................................................................9C) Research with the help of survey.......................................................................................9D) Applying a hypothesis test in order to obtain and determine information........................9TASK 5............................................................................................................................................9Outcomes of above analysis along with different assumptions..............................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11APPENDIX....................................................................................................................................12Appendix 1. Percentage of total CDs sold and same of profit.............................................12Appendix: 2. Results of observation at Theatre and Mall....................................................12Appendix 3. Median ranking................................................................................................12
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INTRODUCTIONMusic is one of the fastest growing sector in the overall market which lead to attractvarious ages of the customers in the world. In the music industry there are different types ofmusic are available which are like as silent, sophisticated etc. According to the present report themusic industry is valued up to the four billion GBP which is the highest value in the overallmarket. Further, at the end of an accounting year 2015 the sales level of music valued up to thetwo billion GBP. The current case study is on the basis of Tribute limited company whichappoints Jonnie Jones who is the musician as well as guitar player. In order to provide musicservices and make aware to the customers the company doing marketing with the help Nostalgiaconcept. The current report shows that there are how much CDs are sold in the market of therespective music and how much profit is to be generated. Apart from this the report analyse thatin the mall or theatre at where more number of customers attend concert of Jonnie Jonesaccording to the age and gender. Moreover, there are different tables and graphs are to beprepared and then analysed that up to which level the Tribute limited able to generate profit andon the basis of analysis the decisions are to be made.TASK 1Evaluating senior citizen, market of music as well as concept of marketingIn the market for attracting the customers in order to sell the products and services thereare various strategies as well as techniques are used by the firms. There are various kinds ofmarketing available with the business entity and among them one is Nostalgia marketing inwhich old and antique items of the firm are to be marketed and attracted to the individuals(Berman and Wang, 2017). On the basis of the Nostalgia marketing kind of concept there areTribute limited company which operating in the musical sector able to aware the music listenersand customers about its different types of musics. The Jonnie Jones which provide musicalservices to the listeners along with the guitar playing behalf of the Tribute company. Therespective guitar player providing slow music to the customers and in this there are seniorcitizens are mostly attractive (Nostalgia as marketing strategy, 2017). Apart from this in themarket there are various kinds of services and products are to be provided and under which themusic concept is to be analysed at the current case. In addition to this, the Nostalgia type ofmarketing is highly used method under which there is the Tribute Limited able to attract the1
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senior citizens by providing the slow music. Hence, it can be said that the marketing concept ofNostalgia is highly appropriate as well as attract to the senior citizens.TASK 2A) Completion of tableIn the current table there is number of CDs are to be shown which are sold in the marketthrough various kinds of methods as well as ways. Table of the current analysis is to be providedand made in the appendix one and by that it can be said that most of the number of CDs such astotal 1376 are sold in the concert performance which is given by the Jonnie Jones. Apart fromthis, there are from the retail stores and shops CDs of the current music are sold up to 2459 unitsin the market. Very lower numbers of the CDs are sold in the Brighton Pubs which is only 72 bywhich it can be said that the Tribute Limited needs to focus on the retails. Further, total profit isestimated at the highest level through two methods which is like as concert performance as wellas the retail stores.B) Representation of data using graphs2
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