Case Study: Tribute Ltd - Marketing Strategies for Senior Citizens

This case study examines Tribute Ltd's marketing strategies, particularly their approach to the senior citizen market and the use of nostalgia marketing. The analysis includes a critical evaluation of the senior citizen market, the adoption of nostalgia marketing, and the role of the internet in marketing. The study involves primary data collection and statistical analysis, including tables, graphical representations, and interpretations of results. It also addresses data bias, methods for improving data collection, median age group analysis, cross-tabulation, survey research, and the application of statistical tests like the Chi-square test to obtain information. The case study concludes with an overview of the analyzed outputs and underlying assumptions, offering insights into Tribute Ltd's marketing performance and strategies.

Case Study B: Tribute
Ltd

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Critical analysis of senior citizen market and nostalgia marketing along with the role in the
marketing of Johnnie's work in the future...................................................................................3
TASK 2...........................................................................................................................................5
(a)Completion of table.................................................................................................................5
(b) Graphical representation of data............................................................................................6
TASK 3 ...........................................................................................................................................7
a) Analysis of combined results...................................................................................................7
b) Mean of biasness and biasness in the collected data.............................................................10
c) Method to improve data collection........................................................................................10
TASK 4..........................................................................................................................................10
(A). Median age group and interpretation.................................................................................10
(B). Cross tabulation..................................................................................................................11
(C) Survey research...................................................................................................................12
(D) Application of test to obtain information............................................................................12
TASK 5 .........................................................................................................................................12
Stating the output for analyzed in above section along with the assumptions..........................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing of a product is regarded as one of the important approach used in enhancing
overall performance of an entity. This approach is used in aware customers about the current
products or services offered by an entity to its variety of users so it is important for an
organization to enhance their current products in order to grab higher market share in the near
future. This project is all about the critical evaluation of senior citizen marketing and adoption of
nostalgia marketing in improving performance of the organization in relation to the external
market parameters. It also emphasises on collecting primary data and using statistical tools in
order to analyze the data accuracy in order to achieve desired aims and he objectives within a
give period as role of an entity gits increases by adopting various functions in generating higher
market share in order to grab higher market opportunities. Marketing nurtures all the skills and
the capabilities of an entity in order to handle complexities in the external market.
TASK 1
Critical analysis of senior citizen market and nostalgia marketing along with the role in the
marketing of Johnnie's work in the future
Critical analysis of senior citizen market
Special study is conducted by an individual related to the senior citizen music market in
which all the preferences of all senior citizen individuals will be ascertained in order to sells
various musical CD and arranging concerts as per their views (Pérez, 2017). The senior citizen in
the UK prefer to listen silent music which excludes all DJ and artificial musical instruments used
in the original songs in order to increase the current sales and the revenue of the business
enterprise. The evaluation of all the markets is essential for an entity John in order to design all
the products and services according to their tastes and preferences of various senior citizen
markets. The music produces an entity according to various kinds of persons as it is essential to
meet all their needs and he expectations in order to accomplish desired aims and the objectives
within a given time span. It is important for the business to emphasises on all their needs and the
expectations of the external market in order to grab external market opportunities to enhance the
current skills and the capabilities of an entity.

Nostalgia marketing
John has adopted nostalgia marketing in order to improve their current sales and the
revenue as their major aim is to accomplish various aims and the objectives in order to grab
higher market opportunities in the near future (Jain, Chandani and Ganesh, 2016). The term
nostalgia refers to considering emotional factors of an individual in the current products or
services in order to get competitive advantage in the external market. This particular marketing
approach emphasises on needs and the expectations of senior citizen that focuses on the old this
rather than adopting new technological changes takes places in the external market.
Old music is silent which is highly enjoyed by the users as they can feel the emotional
thought conveyed by the singer through their music which is not at all fund in the new rocking
music which will not create a link between the user and a singer through their song (Sakunia and
Jha, 2016). The relationship will be formed by an individual in order to maintain a good relation
with the buyer which helps in satisfying all their needs ad the expectations which is essential in
order to gain higher market advantage.
Role of internet in marketing
In the modern corporate world, the role of technology has increases with the passage of
time as it enhances overall business of an entity in order to grab higher market opportunities in
the external market. With the increasing change in the external business environment turbulence
will be created which needs to be controlled in order to provide competitive advantage over its
variety of consumers exists in the external market.
Internet is a group of networks which is important source of collecting information for
accomplishing desired aims and the objectives of an entity. With the help of internet an
individual can generate any kind of information to resolve all their doubts and problems
currently faced by an individual as it is important an individual in order to consider each and
every factors in improving their overall business (Jain, Chandani and Ganesh, 2016). Internet
marketing is the latest trend adopted by an entity owner in increasing popularity of their
business. Social media sites is one o the essential approach used by an entity under the internet
marketing. Social media is that platform through which an individual can communicate with

variety of people simultaneously. It is regarded as the less expensive moped of marketing in
which all the current products details with the image of product are posted on the social media
sites to seek immediate response of all the customers. This particular approach is regarded as one
of the best appropriate and highly suitable method in which customers can ask anything
regarding the product's trough messaging systems to get the response of seller immediately.
VOIP technique is also used as one of the important technique which stands for voice
over internet protocol which is specifically used for communicating important communications
among the buyers and sellers of the product tat helps in generating higher outcomes in the near
future (Merchant, Ford, Dianoux and Hermann, 2016). Technology is regarded as one of the
important approach that simplifies the current business transactions in order to help an entity to
gain higher outcome in the future. It has been noticed that current business of John which deals
in providing musical CD's in order to generate higher sales and the revenue by enhancing skills
and the capabilities of the organization. Music Shows of John will be posted on the internet in
order to gain large number of audiences by satisfying all of them to give access of free CD's to
mesmerize them and influence them towards all the products or services offered by an entity to
its various customers exists in the external market.
TASK 2
(a)Completion of table
Particulars Formula
% of total CD sold by Tribute Ltd over
different locations
Number of CDs sold at different locations /
Total number of CD sold * 100
Total number of CDs sold 130+353+167+223+1376+2459+72
= 4780
% of total profit generated at different location
by Tribute Ltd
Estimated profit at each location/Total profit
obtained * 100
Profit Sales revenue – cost of manufacturing
Sales revenue Number of CD’s * selling price per unit
Cost Number of CD’s * cost per unit

Results generated from the above table shows that CD sold by an entity from different
medium is totally different which is increasing ability of the business in terms higher revenues
(Sakunia and Jha, 2016). The estimated percentage of revenue generated from the concert is
39.57% and 42.43% is earned through the retail store in which higher amount of CD sold by an
entity.
(b) Graphical representation of data

Interpretation
The above table shows the higher performance of an entity which shows that from the
concert is 28.79% and 51.44% of CD sold through retail stores which reflects the overall
performance of an entity. It can be said that higher performance of an entity reflects the overall
business performance of an entity that needs to be improved in order to get higher market
advantage in the external business environment (Pérez, 2017). The skills and the capabilities of
an entity will be reflected using this particular increase in the amount of sales and the revenue in
order to achieve desired aims and the targets incurred in the business enterprise in satisfying all
the needs and the expectations of various customers located in the external business
environment.

TASK 3
a) Analysis of combined results
Interpretation
The shows of Johnnie in two different places are done whose performance is evaluated by
an entity in order top analyze its current business performance in order to gain higher market
advantage in order to achieve all desired aims and the objectives (Sakunia and Jha, 2016). It can
be said that Higher number of performance of 2 minutes is attended by majority of the
customers. Other than 2 minutes performance second highest performance given by Johnnie's is
for 3 Minutes is in Brighton Mall as this famous place attracts wide number of visitors attracted
towards the place in order to listen the music. The Highest respondents are found in the concert
show of 2 minutest the Brighton malls due to the attractiveness of a particular place.

Interpretation
This particular figure shows the respondents and total count of visitors who come to
listen the music of Johnnie is classified according to the age of person. Majority of visitors belog
to the age group of 61-75 that is senior citizen who likes the music of Johnnie.

Interpretation
Majority of respondents come to listen the music shows of Johnnie found in Brighton
Mall and The Theater is higher count of female respondents which shows that the music of
Johnnie is attractive to steal the interest of most of the females.
b) Mean of biasness and biasness in the collected data
One of the terminology used in the statistics that data collected according to the interest
of an individual and this will not represent the overall population (Stewart, Phillips, Mitchell and
Barake, 2016). The data collected from the Brighton mall and The theater is not appropriate as
one cannot identified the particular time required by an individual in order to listen a song.
c) Method to improve data collection
Accuracy of the collected data will get improved by adopting different sampling method
of stratum sampling in order to collect data classified into various segments.
TASK 4
(A). Median age group and interpretation
See appendix 3

Interpretation
This pie chart shows the different purchases made by different parts of the society in
order to generate higher amount of sales and the revenue. It can be said that higher outcomes of
business is achieved with the higher purchase by old age people from the retail store of an entity.
(B). Cross tabulation
Interpretation
above results of the table shows that there are two groups exists which shows the higher
buying preferences such as seniors or young heart (Merchant, Ford, Dianoux and Hermann,
2016). The results of all the group remains the same as the contribution made by all he groups is
similar.