Tribute Ltd: Analyzing Information and Data for Problem Solving

This report analyzes the music market of Tribute Ltd, focusing on the senior citizen segment. It evaluates the market and applies marketing concepts, including nostalgia marketing, to promote music, particularly that of Jonnie Jones and Jimi Hendrix. The report includes data analysis using Excel spreadsheets, graphical representations, and analysis of combined results from different locations like Brighton Mall and The Theatre. It examines bias in collected data and suggests methods to improve data collection through stratified sampling. The report also explores median age groups, cross-tabulation, and survey research to understand consumer behavior and buying patterns. The findings indicate the effectiveness of retail stores and concerts for CD sales, and the report concludes with the outputs of the analyzed data and assumptions made throughout the process. The report highlights the importance of understanding customer preferences and utilizing effective marketing strategies in the UK music industry.

ANALYSING INFORMATION AND
DATA FOR PROBLEM SOLVING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Evaluation of senior citizen music market, and marketing concept............................................3
TASK 2...........................................................................................................................................4
a. Completion of table by using excel spreadsheet......................................................................4
(b)Graphical representation of data ............................................................................................5
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........................................................................................11
TASK 4..........................................................................................................................................11
(A). Median age group and interpretation .................................................................................11
b) Cross tabulation.....................................................................................................................12
c) Survey research......................................................................................................................12
d) Application of test to obtain information..............................................................................13
TASK 5 .........................................................................................................................................13
Stating the output for analyzed in above section along with the assumptions...........................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
The music industry of UK is considered as the one of largest one as it is growing with
rapid speed. It is contributing towards the gross domestic product of the nation by its value of 4
billion. According to the financial year 2015 total sales generated by the industry was 2 billion
with the presence of specific entities such as song markers, lyricists and musicians as well as
writers (Measuring the music 2016, 2013). The present report is based on Tribute Ltd which
deals with the formation of tribute songs in the sector. The case study shed light on Jonnie Jones
a guitar player who is expert in music also. Hendrix as the tribute artists has also been appointed
by the Tribute in order to perform the songs. The promotion of all these concept will be done
through Nostalgia marketing concepts under which demand will be raised for the songs.
Furthermore, detail analysis has been done for the selected concepts along with available
alternatives for promotion of the products or services. In addition to this, data has been analyzed
with the application of suitable method (Gelman, Carlin, Stern, and Rubin, 2014).
TASK 1
Evaluation of senior citizen music market, and marketing concept
The preference of all citizen differs from each other in term of listening the music due to
their associated or requirement the calm environment. For this purpose, it might be possible that
they do not like to rocking songs which make the environment full of noise, instead they like to
prefer to old songs. However, the duration of listening the music as well activities are also
considered such as rehabilitation and exercise as well as other related activities are considered
for the purpose of providing the right kind of music in accordance with their preferences. For this
purpose, marketing concept can be applied in accordance with the listening behaviour of senior
citizen. For example, artistic music of tribute is preferred by old people to a great extent in
comparison to other one. Owing to this, preferences of the customers must be considered and
accordingly songs or services which are being offered by the Tribute should be promoted. At the
same time, Jimi Hendrix's music can be promoted as he is the first preferences of people in UK
in term of music.
Furthermore, Nostalgia marketing under which people are attracted by using the positive
memories is used for the purpose of promotion of the services or products among the target

audience. However, Jonnie's song can be promoted through making the old version song remix
as per the current demand. Moreover, website and CD etc will be used for the promotion of the
songs (3 Ways to Incorporate Nostalgia in Marketing, 2017).
TASK 2
a. Completion of table by using excel spreadsheet
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
Interpretation
It is evident from the above table that music CD's are sold from various sources which
generates higher amount of sales and the revenue of an entity in order to create its higher market
value in the external environment. Music lovers in the UK mostly includes Old age groups as
they all like silent music which gives peace to relieve all their pain and sorrows (Kanehisa and et.
al., 2014). The total number of CD sold by an entity is higher which shows that Johnnie's
marketing skills are strong enough in order to grab higher competitive advantages.

(b)Graphical representation of data
Interpretation
It can be seen from the above graphical representation in form of Column chart depicts
the actual performance of an entity. The main aim of an entity is to sell large number of CD by
applying their interactive skills in order to cater variety of needs ad the expectations of different
set of customers. It is clearly shown from the above Column chart that there are various services
provided by an entity in order to deliver all the music CD from employer to all the customers in
order to facilitate all of them in satisfying their higher expectations towards all the services
provided by the business concern. It includes various medium of selling all the CD such as
complimentary gift, general, order via mail, concert performance, retail store and Brighton Malls
and Pubs. It can be observe from the above results that 51.44% of music CD's sold through retail
store ad 28.79% sold from the concert performance which shows the positive influence of the
firm on all the people. The higher sales and the revenue generated from the retail store is due to
good locality where customers wish to visit or good and attractive music of Johnnie (Marketing
strategy, 2016).

Interpretation
Apart from selling of all kinds of music Cd through various odes provided by an entity in
order to support its variety of customers located in the external business environment as their
desired aim is to accomplish al their needs through different music CD supplies to all the
customers. The above figures reflect the performance of an entity is that the total percentage of
concern performance is increases from 28.97% to 39.57% and total profitability is decreases
from 51.44% to 42.43%.

TASK 3
(a) Analysis of combined results
Interpretation
Total time of the music performance is evaluated by taking two famous locations which
involves Brighton Mall and The theater in order to ascertain the higher influence of Johnnie's
music on all the individuals who were present on both these locations. The music performance
given by Johnie on two different location starts from 1 minute, 2 minute, 3 minute and 4 or more
minute. It is shown from the above data analysis that 2 minute music performance is attend by
the majority of people present at Brighton mall.

Interpretation
The analysis of data is based on the age of the target audience in order to classify the
overall population into various age groups. All kinds of people are present at the Brighton mall
which shows that majority of people present their belongs to the age group of 61-75 years old as
the music of Johnnie is mostly loved by old age people.
Interpretation
Same analysis of age is conducted at different location whose results shows that there are
less categories of age is found at the current place. Wide number of people present at The theatre

belong to the age group of 61-75 years old which shows that the music of Johnnie is very
effective as it steals the attention of all the old age groups who feel peace and high level of
patience.

Interpretation
Another parameter choose by an individual is related with the gender of an individual in
order to ascertain the effectiveness of Music CD's offered by an entity to al the customers located
in the external environment. Experiment is conducted at two different locations in order to verify
the accuracy and effectiveness of the current music on all the targeted audiences who like the
music. Female populations are found in majority in both the location confirms that an entity's
current services in form of attractive music so amazing in order to satisfy variety of needs and
the expectations of all the customers located in the external environment.
b) Mean of biasness and biasness in the collected data
Biasness is regarded as one of the important aspects in the statistics in which sample is
collected of the overall population. The biasness in the sample shows that the sample will not
represent the universe which will not able to produce higher returns in the near future. Biasness
is regarded as one of the parameters used by an entity in order to measure the current efficiency
of all the samples selected by an individual within a given period. The impurities found in the
collected sample will be able to generate true outcomes in the near future. The biasness is found
in the data collected from the Brighton mall by organising c3 Ways to Incorporate Nostalgia in
Marketing. 2017oncert performance in the mall in order to attract variety of people. Data
collected fro the theatre is or presented well as the song played in the theatre will not able to seek
all the consents of individuals present their as accuracy of the collected data is not appropriate.

The real opinion or views of all the individuals will not be ascertained by an entity when the
song played in the theatres. Data unbiased data is collected from the The theatre will not help an
entity in order to achieve all the desired aims and the objectives by catering variety of needs and
higher expectations of all the customers in the external business environment.
c) Method to improve data collection
Collection of data is regarded as one of the important step in the research study conducts
by an entity in order to accomplish desired aims and the objectives of an entity in order to grab
higher market advantage in the external business environment. The current technique of
collecting data needs to be improved with the passage of time as their main motive is to improve
the overall data in achieving desired aims and targets of the business (Hsiao, 2014).
Data is currently collected through random sampling mode which will collect all the
samples randomly without analysing the data on various parameters in order to extract all the
impurities in the collected data. Stratified sampling technique will be used by Johnnie in order to
collect data for the beneficial of an entity as their desired aims is to accomplish all the goals and
the object within a given period. In this of sampling method, data will be collected various
groups in order to achieve all the desired aims and targets of an entity (Mile, Huberman and
Saldana, 2013).
TASK 4
(A). Median age group and interpretation

According to the collected information, it has been found that retail stores are the
effective mode for the young people to get the CD from the market. However, old age people are
also preferring the same outlets and concerts too for listening the music. Furthermore, another
sources for purchasing the CD are also used by some of the people. In addition to this, it can be
said that all different channels are being used for the sales of the songs or CD of Tribute.
b) Cross tabulation
The collected information reflects that buying pattern of both young and old people
remains the same with regard to purchasing the CD to listen the music. They opt the same kind
of buying pattern in order to access the good quality of services or products.
c) Survey research
As per the survey, it has been found that retial stores and concerts are the major sources