Report Tribute Ltd - Analysis Of UK Music Industry
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Added on 2020-02-03
Report Tribute Ltd - Analysis Of UK Music Industry
Added on 2020-02-03
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TRIBUTE LTD
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1...........................................................................................................................................3Critical analysis of senior citizen music market, nostalgia marketing and role of internet inmarketing.....................................................................................................................................3TASK 2 ...........................................................................................................................................5a) Excel spreadsheet with formulas. ...........................................................................................5b) Graph representing % of total CD sold % of total profit.........................................................5TASK 3 ...........................................................................................................................................6a) Analysis of combined data and assessing consumers interests................................................6b) implication of conducted survey............................................................................................10c) Methods for improving data collection .................................................................................10TASK 4..........................................................................................................................................10a) Median age group for purchasing and listening preference by new age group....................10b) Cross tabulation ....................................................................................................................11c) Intern's survey research in terms of appropriateness.............................................................11d) Application of the test finding and meaningful information ...............................................12TASK 5 .........................................................................................................................................12CONCLUSION .............................................................................................................................12REFERENCES..............................................................................................................................13APPENDIX....................................................................................................................................132
INTRODUCTIONUK music shown rapid growth in the last few years. From the statistical data it has beenfounded that music industry contribute more than 5 GBP billion in national gross value added.Along with this different types of Musicians and songwriters are also contributed in the musicindustry. Tribute Ltd is small business which promote music for the tribute artistic work in theindustry. The company in recent appointed Jonnie Jones who play guitar. For making promotionof the Jonnie’s albums the company is using the nostalgia marketing (Anderson and et.al., 2016).So the present report make analysis on the UK music industry and Critical analysis of seniorcitizen music market. Through this analysis they can understand the music industry and theirprofits. Along with this it also makes analysis on the usefulness of the nostalgia marketing. Inaddition, this report also make analysis on the different types of distribution channel which areused by manager of the company i.e. retail outlets, websites or by live concert (Leyshon andet.al., 2016) Through which they gain maximum number of customers in is business. TASK 1Critical analysis of senior citizen music market, nostalgia marketing and role of internet inmarketingIN UK, there is huge difference in between young people and senior citizen withregrading to the preference's music (Gooderson and Henley, 2017) There are many reasons of thedifferences in between young people and senior citizen. Senior citizen like to listen music duringwalking, exercises and other activities. On the other and young people like to listen music fortheir entertainment. With the help o of music senior citizen increasing physiological arousal andsubjective experiences. Most of the senior citizen people like to listen music tribute artistic,songs and albums. In UK number of aging people in increases so for the music marketers it isimportant to consider their desires & expectations be fore making nay kind of music albums andvideos (Cramér, 2016). As per the case study, Jimi Hendrix who was very popular tribute artist,singer and songwriter. He builds strong image in across UK. He builds strong reputation in allthe age ranges people, more importantly, among senior citizens. This is the only reason in thattribute ltd decides to promoted is recently approached music player Jonnie's album through3
nostalgia marketing so they can easily attract more customers and focuses more on seniorcitizens. This marketing strategic is highly effective approach for the company (Wikström andDeFillippi, 2016). Through this they can make positive connotation, strong memories and familyevents of iconic guitarist and music player, Hendrix so they can make excitement in seniorcitizens. This marketing strategy helps to them for gathering more people for Jonnie’s musicalbums, songs and live concert and main focuses is based on attracting elderly aged people.Such practices can be performed by using different types of ways such as reviving old memoriesand use similar marketing strategy which they use for Hendrix’s album which was quit famous inthe senior citizens (Towse, 2016). In today era where everyone is using digitized Tribute Ltd can easily promote their musicalbums. With the help of internet and social media which is considered the best methods formaking connecting with international people (Howell, 2016). Throe ugh this the company cancreate historical memories in between present and past. So for promoting Jonnie’s music albumsthe company can use their social media account or create its own websites so they easilycommunicated with many their customers easily (Introducing the Future Music Forum. 2016).Along with this they can also upload their video albums, concerts pictures on You tube andFacebook so the can easily generating more customers for their business. 4
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