Tribute Ltd: Nostalgia Marketing and Senior Citizen Music Market Analysis

Tribute Ltd

Contents
Introduction.................................................................................................................................................3
Task 1..........................................................................................................................................................3
Critical analysis of senior citizen music market, nostalgia marketing concept and internet marketing
role..........................................................................................................................................................3
Task 2..........................................................................................................................................................5
A) Excel spreadsheet with formula.........................................................................................................5
B) Graphical presentation........................................................................................................................6
Task 3..........................................................................................................................................................7
A) results from the combined data set and assessing the consumers interest in music..........................7
B) Biasness meaning and its implication for conducted survey.............................................................10
C) Methods of improving data collection..............................................................................................10
Task 4........................................................................................................................................................10
A) Median age group for purchasing and listening preferences by new age group...............................10
B) Cross tabulation................................................................................................................................11
C) intern’s survey research in terms of appropriateness.......................................................................11
D) The best test for finding out the meaningful information.................................................................11
Task 5........................................................................................................................................................12
Conclusion.................................................................................................................................................12
REFERENCES..............................................................................................................................................13
APPENDIX..................................................................................................................................................14

Introduction
UK is the well developed country and music industry is working tremendous in the
economic growth of the nation. Statistical report shows that recently it is contributed
approx 4.1 GBP billion. Records show that in the year 2015 musicians, lyricists etc.
related persons have generated approximately 2GBP billion turn over (Anderson and et.al,
2016). Present report is based on the Tribute Ltd which is working at small scale and
promotes tribute artistic music in the UK. Jonnie Jones has recently joined the cited firm,
person is good guitar player and write songs. Hendrix’s tribute artist was the most
popular guitar artists and awarded many times by music industry. Mr. Jonnie Jones has
appointed as Hendrix. Assignment will discuss the marketing concepts of nostalgia
marketing, it will critically evaluate the aspect that whether this marketing concept would
be useful in attracting population or not (Berman and Wang, 2017). Managers of cited firm
are paying attention of the distribution channel so that maximum number of people can
listen this music and get attracted towards the firm. In addition, study will collect data
from primary and secondary sources in order to make sound business decisions.
Task 1
Critical analysis of senior citizen music market, nostalgia marketing concept and internet
marketing role
In the modern era people like to listen music but music preferences of senior citizens and
younger’s are differed from each others. Elders like to listen music while doing any
exercise, rehabilitation and getting relax whereas for the young generation music is the
kind of entertainment medium (Cramér, 2016). People those who are in the age of 50 or
above they think that music can help them in increasing physiological arousal and can
make them relax. Tribute music is the first choice of senior citizens. Most of the old
persons have collection of songs, albums of Tribute music. In the UK there are number of
old persons those who have interest in such type of music so it is very essential for the
marketers to pay attention on their needs and fulfill those. Jimi Hendrix was the world
popular guitar artist, singer, song write. His music was appraised by the population all the
time Range of people mostly senior citizen like his music mostly (Greenwood and Hartley,

2017). In order to attract more people towards the brand Tribute Ltd has decided to take
support of nostalgia marketing for promoting music of Jonnie music. They have target the
senior citizen those who like to listen his music.
Being a small sized company taking support of nostalgia marketing would be effective
approach for tribute Ltd. In this company will make the positive connection with
audience by promoting the Tribute music (Introducing the Future Music Forum. 2016). It will
evoke excitement among senior citizen and they will take high interest in this. The
marketing strategy will promote the music in such manner so that people buy Jonnie
music album , song. In the modern digitalization world social media and internet are best
ways of making connection with the mass audience. It will develop old memories and
will generate new positive energies among those who like the music most. In addition to
this, there are many other ways of promoting and marketing the brand. Tribute ltd can
develop its own website and can promote the music album and songs by offering extra
discounts (Berman and Wang, 2017). To senior citizen. Company can use the Face book
and Twitter and can upload video or pictures of music album in order to enhance interest
of the audience that will attract more people towards the Jonnie’s work.
It is fact that social media has become the biggest way of promotion and advertisement.
Most of the people use the internet and they operate these social networking sites
frequently. By promoting the music on these sites can help in making strong connection
with the customers and it can support in achieving the brighter success to Tribute Ltd
(Anderson and et.al, 2016).