Marketing controversies: Music industry

Résumé du document

In order to apply marketing analysis tools in a different way, we decided to choose the Music Industry. It is one very different market regarding classic FMCG goods market, but in some ways, it is also not so far. We tried here to capture the essence of this market by differentiating artistic value, which we cannot judge with marketing performances and strategies. To have a wild angle we first made some research and put together an external analysis than we studied the market the customers, the brands and performance measurement tools.

Music is an intentional modern industry, and we think it is hardly possible to continue without some research about the industry worldwide, and especially in the US. People are willing to pay more to see a concert than they did before. This is due to the fact that people do not necessarily buy or download an artist's CD, and might be more willing to go see the artist in live instead. That this one of the reasons that explains the fact the number of music concerts has risen, and so did the number of people often agreeing to pay more and more to see music performed, and merchandizing.

Extraits

[...] Managing the narrative can become a real key advantage in the customers' perception. In the music industry, we notice that every artist can be a brand and just a few manage to become iconic brands. The goal is of course to emotionally convince people in order that they are more inclined to follow you, believe in you and above all buy all your songs. The narrative approach can be a way to fidelization given that it allows to affect people and to stay in their mind as a myth. [...]

[...] The first singer that worked with this label met a big success, but his career seems to be reaching its end. In the mean time, a new singer Irma, has been sponsored by her fans, and supported by many other influential people in the show business. And every body is expecting a great successful career for her. Another example, a not so glamorous one, Justin Bieber, he first started covering other artists' famous songs and uploading his videos on Youtube. [...]

[...] In the music industry, a famous artist often becomes a myth when he dies. For instance, Amy Winehouse, and recently Whitney Houston, became iconic artists. Giving that mass media outside the firm's direct control are the primary agents promulgating identity myths, the dead of an artist made him becoming an icon really quickly. Because music is not something, which is destroyed when you have consumed it, which is eternal, some music groups as the Beatles became a iconic brand. However, in holistic term, brand is a narrative system giving an identity to a value proposition over time and space. [...]

[...] president Kennedy confirmed the romantic image she already had. Many other actresses tried to follow Monroe's foot steps, some succeeded in building more or less the same image but they never managed to be the new Marilyn Monroe. Another example could be the provocative Lady Gaga. She became famous thanks to unconventional songs' lyrics and video clips. Her favourite subjects are sex drugs and religion, which are not exactly Queen Elisabeth's top ten ice breaking subjects. Her success might have be the result of a social trend but no one can deny that she is one of the singers that surfed the best the unconventional wave. [...]

[...] For instance, an old singer might not be popular enough and does not product quality music any more. However going to his concert and by listening his songs with a couple of old friends that are used to live the old days with you might give you the impulsion to purchase the ticket. Another example: if every one of your friends are going to a concert that you have no idea what the quality would look like, it might also be the reason for you to buy a ticket and go simply because you enjoy the company of your group of friends. [...]