Sony Music Entertainment Market Analysis

INTRODUCTION TO
MARKETING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
About Sony Music Entertainment with its competitor examination......................................1
Current state of the music marketplace and brief of overview of the market .......................1
Marketing strategy of Sony Music Entertainment..................................................................2
Competitor marketing strategy...............................................................................................2
Why these strategies have been chosen..................................................................................3
TASK 2............................................................................................................................................3
Explain strategy of selected enterprise to improve.................................................................3
New or innovative idea...........................................................................................................4
Plan of implementation with critical analysis to face challenges and increase possible
outcomes which affect to final results....................................................................................4
RECOMMENDATIONS.................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing defines as the tool which assists to promote and increase desired results in the
enterprise. In this regard, key process of the marketing research successfully conducted for
promoting or selling of products and services. It is beneficial to gain more effective and desired
results to promote effective functioning. In the market, it would be beneficial to gain desired
results with effective promotion (Bernstein, 2015).
Present study based on Sony Music Entertainment which is American global music
conglomerate that owned successfully by Sony. They deal to create more desired level outcomes
in all over the world with music entertainment.
For gaining insight information of the present study, it covers information of the
company and its competitors as well. Furthermore, marketing strategy of the enterprise and its
competitor also assessed to develop significant advantages. At last, integrated marketing
campaign develop successfully to prepare appropriate new plan.
MAIN BODY
TASK 1
About Sony Music Entertainment with its competitor examination
Sony Music Entertainment incorporated functions in music entertainment. This company
operate as a music publishing which includes several music labels which consider classic, rock
and other albums. In whole world, there are several countries where it operates in successful
manner such as Australia, France, Ireland, Spain, etc. (Pratamasari, 2017).
As critically analysis, Warner Music Group also deals in American multinational
entertainment and record appropriate label conglomerate which has headquartered in New York
City. There are more than 3500 employees employed to operate functions in 50 nations all over
the world. This enterprise successfully operates with different labels in the world which includes
Warner Bros., records, Parlophone, etc.
Current state of the music marketplace and brief of overview of the market
In the UK, the latest industry data estimated that core music industry develop their
significant advantages to understand effectiveness with appropriate growing. This music
entertainment work, considered around £4.4 in this country so that it helps to increase more than
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142,208 jobs for different types of employees. There are certain famous artists contain in
worldwide in 2016 such as Adele, Coldplay, Bowie and David. Therefore, music generates
around £2.5revenue from export. Total audience who look for live music in the country is around
30.9 million from which 27 million attending concert and 3.9 million going to music festivals
(MUSIC SECTOR SIZE AND VALUE, 2018).
In addition to this, within the UK market company traded to increase revenue which can
be generated from sales in all over the world. There is around 10.6% to £839.5 million customers
gained in 2017. Growth of the company also increases with appropriate sales which generated
through selling more albums. Furthermore, UK's music attraction mainly considered through
festivals, concert venues and musical heritage sites which helps to generate around £4 billion.
Direct and indirect spent in 2016 assists to develop more effective results in the country.
Marketing strategy of Sony Music Entertainment
Sony Music Entertainment is one of the most popular sought to lead with music
entertainment services. They adopted relationship marketing in which companies focuses on
building relations with customers as compare to exclusive trying to sell something which
included in transactional marketing (Sheth and Kim, 2018). Customer love services of the Sony
Music Entertainment, so that an organisation spend more money in particular event to attract
more clients. There are many functions and operations successfully develop to increase channels
such as store, web, mobile, etc.
In order to adopt this strategy, Sony Music Entertainment organises music event in
systematic manner. It requires great experience every time to focus on shorter term goals. Hence,
individual sales continuously develop with this marketing strategy. With respect to promote
music entertainment, communication implemented that assists to transform with appropriate and
valuable resources (Datta, Knox and Bronnenberg, 2017).
SWOT analysis
Strength Weaknesses
 Sony has Built a brand which is
highlighted with the fact and most
valued brand.
 Technology excellence of the company
 High cost of media production
 High core competency.
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