Tribute Ltd. Case Study: Market Analysis and Sales Performance

This case study examines Tribute Ltd.'s operations within the senior citizen music market, focusing on nostalgia-marketing strategies and the sales performance of Jonnie Jones' CDs. It analyzes market trends, customer preferences, and the effectiveness of various marketing approaches, including retail sales and concert performances. The study explores customer views on Jonnie's music and the importance of unbiased data collection, offering suggestions for improvement. It also ranks music listening tools and identifies age and gender demographics among listeners. Furthermore, it provides insights into decision-making for future operations and expansion strategies for Tribute Ltd., emphasizing the need for customer-centric approaches and innovative marketing techniques to enhance profitability and brand image. The analysis includes interpretations of sales data, profit ratios, and customer feedback, offering actionable recommendations for the company's continued success in the music industry.

Case Study of Tribute Ltd.

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
Market analysis of senior citizen music and nostalgia-marketing..............................................1
TASK 2............................................................................................................................................2
a) Sales performance of Jonnie's last year sold CDs...................................................................2
b) Analysis and advices for selling Jonnie Jones CDs................................................................2
TASK 3............................................................................................................................................3
a) Customers' views and interest in Jonnie's music.....................................................................3
b) Justification for unbiased data collection................................................................................4
c) Manner to improve data collection.........................................................................................4
TASK 4............................................................................................................................................4
1) Ranking for buying Jonnie Jones music.................................................................................4
2) Ranking on music listening tools............................................................................................4
3) Age categories of music listeners...........................................................................................5
4) Gender.....................................................................................................................................5
TASK 5............................................................................................................................................5
Decision making for further operations for Tribute Ltd.............................................................5
CONCLUSION................................................................................................................................5
REFERENCE...................................................................................................................................6
APPENDICES.................................................................................................................................7

Illustration Index
Illustration 1: Percentage of CD that has been sold........................................................................8
Illustration 2: Profit percentage of Tribute Ltd................................................................................9
Illustration 3: Views of customers on companion of Tribute Ltd....................................................9
Illustration 4: Ranking of buying CDs of Jonnie's composed song...............................................10
Illustration 5: Preferences songs ranking......................................................................................10
Illustration 6: Age group listeners at Brighton mall......................................................................10
Illustration 7: Age group listeners at theatre..................................................................................11
Illustration 8: Age group listeners at theatre and Brighton mall....................................................11
Illustration 9: At Brighton mall......................................................................................................12
Illustration 10: At theatre...............................................................................................................12
Illustration 11: Gender Combined at both theatre and at Brighton mall........................................13

INTRODUCTION
In recent time, there are various kinds of music which are mixes into old song version
included in the tribute (Sousa, Vilela, Fonseca, Matos, Freire, Gruter, Coelho and Silvestre,
2015). There are large number of different music launched and composed by which it will
highlight attract the people towards the music industry. The present report is related to
determining the senior citizen market and nostalgia-marketing which compose all songs as per
the likes of old aged people. It also expressed the way by which music CDs are selling at various
place like shops, mall etc. It present the actual position of Jonnie music in market and gives
different ideas which are related to the compositions of music. In order to this, student will
understand the Tribute Ltd. by analysing and making effective improvement by their services.
TASK 1
Market analysis of senior citizen music and nostalgia-marketing
Analysis of music market of senior citizen: As per the research and collected
information it is found that person above 60 year age are highly attracted with listening old song.
In addition to this, they want all those songs which give their old memories and refresh them. All
these songs are highly demanded because they will gave peaceful environment to the senior
citizen. As per their view, by listening old songs provide peaceful atmosphere and positive
thoughts to them. Hence, it is analysed that music market of senior citizen is highly influenced
with the old songs which are rarely available in the market. In order to this, Tribute Ltd. try to
make an effective plan by which they will attract the senior citizen to provide all the favourable
songs in the market. By using this, old people can generate the old memories and feeling relax
with the songs. Thus, senior citizen highly affected the music market is great level.
Nostalgia-marketing: In this music concept, composer create new version of old song so
that it will be appreciated by the young and old people. It will help to create the old memories
back by using the new version. It is beneficial for all aged group because it will create a positive
environment and helpful for reducing loneliness. Effective marketing strategies help to built
positive attitude in people. Old people are highly attracted with the innovative songs. It also
effect the purchasing of all those CDs which is highly related to the organisation profitability. In
this way, nostalgia-marketing help to compose old song by making some changes which highly
1

attracted the demand of music CDs. All this process is beneficial for the Tribute Ltd. and it will
make good brand image in the market.
On the other hand, by making innovative changes in old song or making new version like
remix, DJ are not able to attract the old aged person. The reason is behind that they want the
same lyrics and rhythm. In order to this, organisation make all the efforts to maintain the rhythm
and lyrics same as possible so that it will attract the senior citizen in a very large number.
TASK 2
a) Sales performance of Jonnie's last year sold CDs
By analysing the last year performance Tribute Ltd will determine the market position in
the way of collecting the data. As per the collected data of 2014-2016, last year performance of a
firm and selling of CDs are as follows:
Interpretation: As per the given scenario, it is found that Johnnie uses various kinds of
marketing strategies and sold large numbers of CDs to the people. For example: By selling the
CDs, he can make interaction with friends by using email, website etc. so that he can analysis
the performance. As per the data and examine the profits for selling the CDs, it is found that
Tribute Ltd. selling is higher and it will earn advanced profit in retail services. In addition to this,
company analysis that profit ratio of firm is 42.43% by selling CDs through retailing. It shows
the higher ratio of profit as compare to other sources. As same, by concerting performance, it
denotes that 39.57% profit ratio will be generated by the young people who were highly
influenced with innovative music CDs. Furthermore, firm also present the effective brand image
by increasing the demand of music. Hence, it is determine that by making fraction changes or
adopting new innovative techniques in music, organisation will increases their profitability in a
large scale.
b) Analysis and advices for selling Jonnie Jones CDs
As per the collected data, it show the relationship between sell of CDs and profits which
are earned by various ideas . , CDs which is sold out and receiving amounts are presented as
follows:
Interpretation: By use of retail selling techniques of CDs, Tribute Ltd. sold their
products at a higher level. In addition to this, people will highly attracted and demand of new
composed song is very high. As per the scenario, 50% CDs was sold by using retailing which
2

shows the good reputation of the firm. People also highly influenced with the strategy which are
adopted by the company. In order to this, almost 28% CDs are sold by proper managing the
interest of people by composing new version of old songs. On the basis of the data record, it can
be determine that in future, if company use effective marketing strategies then it will make
positive impact in their profitability. Jonnie composed new version of CDs and their selling or
earned profit are understandable by seeing appendix 3.
Interpretation: It is find that by using retailing, company earned higher profit by selling
their CDs which is 42.43% that shows the effective position. By devising some improvement,
Tribute Ltd. make some alteration so that it will increase the profitability. It is also found that by
selling CDs through concert performance of Jonnie, large number of people are attracted with
them and it shows the high demand of CDs in the market. Thus, as per the collected data and
information, it has been find that supply of CDs which have unique version will be increases at a
high level. Furthermore, Tribute Ltd can expand their business by using advertising techniques
so that firm will get effective interest. , Cited firm need to be compose all the songs which is
based on the interest of customers so that it will achieve the higher profit in future.
TASK 3
a) Customers' views and interest in Jonnie's music
Customer's plays an important role in music industry (McGlone and Wilmshurst, 2016).
There interest and views make great impact in the music. Here, interest of a person shows that
how much time in an event, music attract the people in Brighton mall and theatre. This analysis
is expressed in appendix 4.
Interpretation: There are large number of people who attended the concert in Brighton
mall. In which, there are 41 people who watch the show for 2 minutes whereas, there are some
people who watch the show in 3 to 4 times in both mall and theatre. It also find that those who
watch the show gave their positive review towards the concert. In addition to this, there are high
demand of CDs which are given by the show. . All these research gives positive outcome by
which making some improvement new attractive songs also composed by the Tribute Ltd.
b) Justification for unbiased data collection
By collecting the data at primary level, all the survey is conducted and analysis the timing
of watching shows which is biased in nature. It also analysis the there are large number of people
3

who watches the show again and again. In this way, this justification is not reliable and accurate.
It also examined that the time of show and visiting time by the people in show are not recorded
accurately. In addition to this, there are lots of people who watch the concert so that it is difficult
to make focus on people. Therefore, all the data present the Confucius in condition. Hence. by
using this method all the biases will be reduced and true data can be presented so that firm will
organise the concert in the next time effectively.
c) Manner to improve data collection
By organizing the survey, it help to reduce the biases and improving data in a systematic
manner. To analysis the interest of people in music, specific strategies and data will be collected
accurately. Proper collection of all the data will be done if person set the timing and pass system
more accurate manner (Goodman, Cryder and Cheema, 2013).
TASK 4
1) Ranking for buying Jonnie Jones music
As per the appendix 5, interpretation are as follows:
Interpretation: In this research, two different age groups are taken into consideration.
While collecting the data, researcher ask various questions to the people. On the basis of the
data, they will rank responses effectively. It is determined that, retail selling is first order in
views on youth while senior give it 2 order. On the other side, seniors give effective preference
to radio at most for listening new composed song. It also examined that choice and different test
towards music, various ranks are obtained for Tribute Ltd and its song.
2) Ranking on music listening tools
As per the collected data, it is analysed that all age group people give equal rank which
shows the positive responses. All the resources such as concert, mail, online are the best ways by
which viewers give their positive feedback. In addition to this quality of song will also affect the
demand. Thus, mostly people are highly satisfied with Jonnie's music and mode of presentation.
3) Age categories of music listeners
In this research report, it present the different age group person and their interest in
songs. It has been found that between 61 to 75 age unit people were highly listens in mall. On the
other hand, between age group of 31 to 45 are highly attracted with Jonnie's new version song
and tribute's old song too. Thus, all the listener which is belong to the age group of 55 to 64 year
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are like to listen old song which is 22%. It shows the highly affective and positive as compare to
other age group people.
4) Gender
Interpretation: As per the research, it is find that there are large number of male people
as compare to female who participate in concert and show. As a figure it shows that 58% people
are in theatre. In theatre, female are highly present in compare to the male people. Hence, it has
been concluded that number of viewers are different which attain the concert performance.
TASK 5
Decision making for further operations for Tribute Ltd
 As per the current situation of firm, it is analysed that firm has good market image.
 Demand of the music which are composed by the Tribute Ltd. is also increases.
 To maintaining the interest towards Jonnie's composition, firm need to develop
innovative songs as per interest of different aged group people (Davis, Sutherland, Wilton
and Kwinn, 2014).
 Tribute Ltd. need to expand their business by advertising their performance in different
cities.
 By uploading new version in social networking sites, firm can achieve appropriate
growth and development.
 By using the YouTube, company upload their new version song so that it will make large
approach across the world.
 If Tribute Ltd. follow all the strategies effectively that it will achieve their goals.
CONCLUSION
As per the above detailed information, it has been concluded that Tribute Ltd has good
brand image in the market. It also attract their customers by focusing their interest. Company
always try to compose new version of old songs so that it can attract the customers and achieving
their future goals. It also explained various kinds of interpretation by which company's profit
will be analysis by making comparison with Jonnie's new composition. Furthermore, it also
5

explained the various ideas and strategies which can be used by the Tribute Ltd. so it will
achieve their future goals (Brady and Shankweiler, 2013).
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REFERENCE
Books and Journal
Brady, S. A. and Shankweiler, D. P. eds., 2013. Phonological processes in literacy: A tribute to
Isabelle Y. Liberman. Routledge.
Davis, B., Sutherland, A., Wilton, M. and Kwinn, M. J., 2014, March. Evaluating army
geospatial data collection tools. In Systems Conference (SysCon), 2014 8th Annual
IEEE (pp. 235-242). IEEE.
Goodman, J. K., Cryder, C. E. and Cheema, A., 2013. Data collection in a flat world: The
strengths and weaknesses of Mechanical Turk samples. Journal of Behavioral Decision
Making. 26(3). pp.213-224.
McGlone, M. and Wilmshurst, J., 2016. A tribute to Neville Taylor Moar (31 July 1926-1 June
2016). Quaternary Australasia. 33(2). p.16.
Sousa, A. F., Vilela, C., Fonseca, A. C., Matos, M., Freire, C. S., Gruter, G. J. M., Coelho, J. F.
and Silvestre, A. J., 2015. Biobased polyesters and other polymers from 2, 5-
furandicarboxylic acid: a tribute to furan excellency.Polymer Chemistry. 6(33). pp.5961-
5983.
Online
Tribute. 2017. [online]. Avaialble through: <https://techcrunch.com/2013/01/13/pdf-tribute/>.
[Accessed on 8th July 2017].
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APPENDICES
1) Sales performance of composed song CD of Jonnie
2) Percentage of CD that has been sold
1 2 3 4 5 6 7
0
0.1
0.2
0.3
0.4
0.5
0.6
Column D
Illustration 1: Percentage of CD that has been sold
3) Profit percentage of Tribute Ltd
8

1 2 3 4 5 6 7
-0.1
0
0.1
0.2
0.3
0.4
0.5
Column I
Illustration 2: Profit percentage of Tribute Ltd
4) Views of customers on companion of Tribute Ltd
1 minute 2 minute 3 minute 4 or more minute
0
5
10
15
20
25
30
35
40
45
Column C
Column D
Illustration 3: Views of customers on companion of Tribute Ltd
5) Ranking of buying CDs of Jonnie's composed song
9

Illustration 4: Ranking of buying CDs of Jonnie's composed song
6) Preferences songs ranking
Illustration 5: Preferences songs ranking
7) Age group listeners at Brighton mall theatre and combined
4
16
17
64
3 1
2
3
4
5
6
Illustration 6: Age group listeners at Brighton mall
10

2
9
41
1
2
3
4
5
6
Illustration 7: Age group listeners at theatre
2 4 16
26
105
3
1
2
3
4
5
6
Illustration 8: Age group listeners at theatre and Brighton mall
8) Gender
11

62.5
37.5
1
2
Illustration 9: At Brighton mall
57.69
42.31 1
2
Illustration 10: At
theatre
12

60.90%
39.10%
1
2
Illustration 11: Gender Combined at both theatre and at Brighton mall
13