Comparative Analysis of Senior Citizens and Young Hearts

The report highlights the effectiveness of nostalgia marketing as a promotional strategy for Tribute Ltd. It is identified that among all marketing approaches, nostalgia is highly effective in attracting senior citizens and young people with similar purchasing behavior. The use of music players, iconic guitarists, strong memories, and positive connotations can evoke fondness, excitement, and comfort among the target audience. Additionally, live concerts and retail outlets are found to be crucial for promoting Jonnie's music album and CDs.

Tribute Ltd

Table of Contents
Introduction .....................................................................................................................................3
Task 1 ..............................................................................................................................................3
Critically evaluation.....................................................................................................................3
Task 2...............................................................................................................................................5
A.) ...............................................................................................................................................5
B.) Representation of percentage of total and total profit percentage.........................................5
Task 3 ..............................................................................................................................................6
B.) Biasness and it implication for the conducted survey............................................................9
Data collection methods.............................................................................................................10
Task 4.............................................................................................................................................10
A.) Median age group for purchasing and listening preference by new age group ..................10
(B). Cross tabulation..................................................................................................................11
(C) Evolution of intern’s survey research in terms of appropriateness.....................................11
(D) Applying the best test for finding out the meaningful information.....................................11
TASK 5..........................................................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
APPENDIX....................................................................................................................................14

Introduction
In modern era UK industry has been growing rapidly with the changes of time. It can be
analysed from the currently statistical report, that music industry made a contribution of 4.1 GBP
billions. For making a 2GBP billion turnover there was a great contribution of composers,
lyricists, songwriters and Musicians in year 2015. The present study is based on Tribute Ltds
which is small sized business unit who operates its business in Musical industry. One of the best
guitar player Jonnie Jones in present time write songs and also play guitar. He has been honor
many times in the musical industry and also awarded as Hnendrix's tribute artist because of its
popular singing and for playing guitar. The present report critically evaluate the nostalgia-
marketing concepts to identify that it is useful for Tribute ltd. or not for success of its business.
For this purpose it is promoting the album of Jonnie for generating huge profit through the
targeting large number of audience, in which it includes senior citizen in order to drive better
output. Along with this, there are different distribution channels that is home town, retail outlet,
live concert and websites etc. which is concerned by manager of Tribute Ltd. So that it can
attract large number of audience in respect to make high profit. Moreover, in this report primary
and secondary data is analysed with the support of financial and statistical techniques for making
appropriate decision and achieve high targets.
Task 1
Critically evaluation
The preference of music among youngster and senior citizen is different in British
industry of music. Young generation like to listen music just for entertainment purpose and it
mostly loves to listen rocking songs. On the other hand senior citizen not prefer to listen rocking
song, also they listen music at the time of exercise, walking and rehabilitation. Further, they
mostly choose to listen tributes music and similar to listen song at the time of exercise help
senior citizen in reducing the level of stress and it supports in increasing the physical stimulation.
At present in UK, there is large number of population of senior citizens which make important
for different musical company to release music as per their desire needs and wants. In
accordance to the given case, the popular artist Jimi Hendrix was a very popular artist. It have
different qualities such as singing song, play guitar, write song, which support in builduing good
reputation in market of UK. It become famous among all age people and specially among all age

people. The above discussed all reason encourage Tribute Ltd. to launch Jimi Hendirx album in
market which can assist in earning huge profit. Furthermore, Tribute ltd. want to launch Jonnies
album with the support of nostalgia-marketing in order to grab attention of large number of
customer specially senior citizens. Therefore, it one of the best opportunity for the cited music
company in which it can use different type of guitar, the best music player and positive
connotation for making concert memorable. Hendrix to evoke pleasure and excitement senior
citizens. Through this support of this marketing strategy Tribute ltd, can be easily attract large
number of customer for purchasing it concerts ticket, and albums. In modern era, whole world is
connected with digitalized, social media and internet. It is one of the best way through which
strong connection can be made for keeping alive the old memories and optimistic feelings.
Further, Tribute ltd, have opportunity to develop its own websites and make share album, and
other music. To enhance the sale the organization can also used Facebook, you tube for
uploading music concert video. Through the support of this it can target large number of
audience and make easy for old age people who unable to come in live concert shows.
Aforementioned graph show how much digitalized is important for them in order to
promote their music and for attracting large number of audiences. Further it show that senior
citizen who unable to come in there live show due to health issues can watch their live show on
website and you-tube.

Task 2
A.)
Presenting excel sheet calculation with use of formula
B.) Representation of percentage of total and total profit percentage
examining and findings: From the above graph it has been find out that there is increase in sale
of product is about more than 50% from retail store. Large number of people visit to retail shop
for buying album which is launched by Tribute Ltd. Further it clearly show that in last two years
there are more than 2459 CD,S has been sold from retial shops. It meand Tribute ltd. Company is
making huge profit from selling CD's of its concert. Its profit reach to 14745 as computed and

form its concert site its profit is calculated that is 13850, as compare it can be stated that firm
earn high profit by selling its CD's instead of live concert. On other side, it show that Brighton
pubs showcase sale is decline and it reach upto 13660 in percent it is 39.57% while its profit is
567 as in percent it reflect 1.66%. in contrary to this profit make by selling CD's is 5.13%, 3.84%
and 8.12%. moreover, sale is 7.38%, 3.49% and 4.67%. it is the lowest sale percentage and it
face loss of 0.75% which is analysed from above graph. From the above study it is find out that
Tribute Ltd. Can easily increase sale by selling CD's of Jonnie's from retail store and by
organizing live concert. This assist in increasing sale as well as profit of an organization.
Task 3
A.) Measuring interest of music of consumer and result is analysed from combined set of data.
Cover in Appendix 2
According to the given scenario it has been find out that there are tow filed of observation is
conducted by Tribute ltd. In two different location. The first location is in Uxbridge theatre and
another one is Brighton shopping mall. This both field is selected for observation so that
primary information can be collected which support in identifying and measuring the people
needs and wants, field of interest and experience regarding the music and guitar player of
Jonnie's.
interpretation: aforementioned chart represent the first observation in which find out that in mall
there are 41 audience who like Jonnies' performance. Further wherever it performance for 2
minutes more thant 19 people gathered for listening its music and apperciate its performance.

Therefore, there are total number of 60 visitors out of 156 who are interested in its live
performance and concert shows.
Analysis and findings: From the above chart it is interpreted that, people who lie under the age of
61 to 75 years are more interest in Jonnie performance. It show that in concert there were more
senior citizen as compare to young people in theatre as well as Mall. Further it show that people
of the 60 year age are less and senior citizens are more which means people below the age of 60
visit to show for entertainment purpose.

Examining and interpretation: From the above result it is analysed that in Brington mall there are
104 members under which 38% are male and 62% were female. On the other hand in Uxbridge
theater there are 42% are male while 58% were female. From the result it has been founded that
there are less number of male in both mall and theatre and high number of female who are
interested in listening music of Jonni.
B.) Biasness and it implication for the conducted survey
Selection biasness in a survey means that selection of group of people for asking questions in an
non random sampling method. This show that sample chosen for survey is not representative
sample which is also known as sample effect. In other word biasses can be defined as a
misrepresent of statistical analysis in order to gather information from facts which may give
inappropriate result.
As per accordance to the give scenario is can be said that Tribute ltd create observation at two
different place that is Theater and Mall. At mall it gives 3 hour presentation which attract many
people and appreciated by them at mall. Further at that place it arrange its own music instrument
and played it. On the other side in theatre there was no tribute artistic and biased. Further at
theatre there was no sign of tribute artistic which show biasses. Along with this the time duration
for theatre observation is three days later. Hence in Mall there were large number of people as
compare to the Theater which has been observed and it also show biased observation.

Data collection methods
For improving data collection method it is important for Tribute Ltd. To select equal number of
sample at the selected location. Further place chosen for observation must have equal
characteristics. As in the present case for observation selected location one of theater and another
one is mall. So observation need to do for same time so that accurate finding can be get from the
conducted observation.
Task 4
A.) Median age group for purchasing and listening preference by new age group
Cover in appendix 3
Table of media is calculated in Appendix 3.
From the above result it is analysed that in younger group of people there are high
number of people who prefer to buy CD 's from retail shop and less number of people prefer to
download from gadgets. On the other side, in senior Citizen people both the live concert and
retail shop were equally preferred by them. Furthermore, they also give less interest to gadgets
and internet. Mostly older age people not like to buy CD's online and on the top is retail shop for
buying purpose. As accordance to listening younger people less like to visit concert and top
priority is given to listen from digital and CD's. On contrary to this, most of the senior citizen
like to listen from radio and CDs and cassette live at an average. Further, they do not even prefer

to listen to music online. In this context, it can be stated that both CDs and radio has high
demand across both the age groups.
(B). Cross tabulation
Shown on Appendix number 4
In accordance with the cross table which is prepared in excel, it shows that there is no
significant differences. Further, that is in preference to the buying behaviour of seniors and the
young at heart.
(C) Evolution of intern’s survey research in terms of appropriateness
In accordance with the findings, it has been identified that majority of people made of
retail in order to make purchases for albums, CDs, etc. On the other hand, mail and phones are
given the lowest priority by senior citizen group. In addition to this, live concerts and retail
outlets are preferred equally. Moreover, it is identified that cross tabulation analysis, it is found
that there is no significant difference that is identified among purchasing behaviour of senior
citizen and young at heart.
(D) Applying the best test for finding out the meaningful information
In order to determine the difference between senior citizen and young, there are different
type of tools or test that can be applied. In this one of the effective test that can be used is Chi-
square test as it will help to determine whether there is any difference or not.
TASK 5
To: BOD of Tribute Ltd
From: Financial analysts
Date: 17th April 2017
In accordance with the result it is identified that among all the different type of marketing,
nostalgia is highly effective approach that can be applied by Tribute Ltd. In this context, cited
firm will make use of music player, familiar event of iconic guitarist, strong memories and
positive connotation. Further, it will also evoke fondness, excitement and comfort among senior
citizens. Among all the promotional strategies, this one will be effective enough to make sure
that they will be able to attract millennia elderly aged people. Further, they will make purchases
for the Jonnie's music album, live concert and songs. Further, it achieves brighter success and

millennial traffic, it is important to make use of internet for the artist so that music can be
promoted with the help of different channels. In addition to this, live concerts and retail outlets
play vital role for senior citizen to make purchases for the CDs and albums. Lastly, it can be
also be determined that there was no significant different that was identified between
purchasing behaviour of senior citizen and young of heart.
CONCLUSION
From this report, it can be articulated that there are different type of marketing approach
with the help of which promotion is possible. Among all these one of the effective approach is
nostalgia marketing as it is helpful for Hendrix's to promote their concerts, memories and
albums. This way Tribute Ltd. Will get benefited and this is possible by exceeding the senior
citizen base. It will be effective way to raise the sales and returns, this is possible by delivering
Jonnie's album and CDs. Further, as per the analysis made through secondary, it is identified that
both retail outlets and concerts are the top places that enable to raise profit and sales volume for
the organization. In addition to this, it also has been identified that people prefer to listen to
music through radio and CDs from retail shops.

REFERENCES
Books and Journals
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University Press.
Howell, D.C., 2016. Fundamental statistics for the behavioral sciences. Nelson Education.
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Online
Introducing the Future Music Forum. 2016. [Online]. Available through:
https://musicindustryblog.wordpress.com/category/music/. [Accessed on 17th April 2017].
Why Nostalgia marketing works. 2016. [Online]. Available through: <
https://www.searchenginejournal.com/nostalgia-marketing-works/134771/>. [Accessed
on 17th April 2017].

APPENDIX