Más contenido relacionado Similar a MUC110.LEC3 Intro to Record Marketing (20) MUC110.LEC3 Intro to Record Marketing3. Two primary activities
of Record Label Business:
•Marketing & Promotion
Creating the “Package”
or the “Story”
Story
•Distribution (Sales)
Distribution
Selling the finished “Product”
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4. Definitions:
•Marketing & Promotion
Marketing
“Bringing the consumer
to th
t the product (music)”
d t( i )”
•Distribution (Sales)
“Bringing the product (music)
Bringing
to the consumer”
Source: Arny Schorr, Smore Entertainment, Artists House video
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5. What is Marketing?
A holistic strategy & process which
identifies, anticipates and meets customer
needs to promote the exchange of p
p g products
and services in a marketplace.
GOALS:
1)Create successful packaging/image
of your company and services offered
offered-
Creating the brand/Creating the story.
2)Communicate with customers about what
you have to offer and why your offering has
value –Promoting the brand
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6. Record Label Marketing Team
Marketing Dept.
Marketing
Product Management
Artist Development Radio Promotion
Artist Relations
Promotions
Publicity
P bli it
Sales
S l
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7. The Marketing Team:
Product managers/ AD Managers-
manage/oversee complete record marketing
process and teams to product launch
(new release)
Marketing managers-
branding,
branding sales campaigns post-production
campaigns, post production
product management
Publicists- Developing stories for the press
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8. The Marketing Team:
Radio &Video Promotion managers- Garnering
Exposure on Major Commercial Radio and
Music Television stations
Promotions managers- C ti b
P ti Creating buzz and
d
raising awareness via contests; giveaways
Advertising & Media managers- Developing
Ad campaigns; buying media
p g y g
Partnership marketing- extending brand reach
through cross-marketing
th h k ti
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9. Key Marketing Functions
Pre-Market:
• Goal Development
• Planning
• Research Consumer insight, product
testing, competitive intelligence
• B d M k ti
Brand Marketing Id tit positioning
Identity, iti i
• Pricing strategy
• Product Development
• Sales support Lead generation, collateral
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10. Key Marketing Functions
In-Market:
• Publicity Managing the Press
• Promotions Events, contests, Radio/TV promoters
• M di B i /Ad ti i
Media Buying/Advertising Messaging, M di B i
M i Media Buying,
Developing “creative”
• New Media/Electronic SEO, Social Media
Optimization,website management, mobile marketing
• Partner Marketing Sponsorships, strategic alliances
• Tracking results
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12. Planning Tools: Consumer Research
Marketing Rule #1 Know your audience
All successful marketing campaigns start
with knowing you aud e ce
t o g your audience
• How?
– Market Research
• Consumer research
• Sales Data
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13. Consumer Research:
Geographic
Detailed D
D il d Data
Nations, states,
regions or cities Points
Demographic
Age, gender, family size,
income, education
Psychographic
Lifestyle, attitudes, values
Behavioral
Benefits sought, usage
habits,
habits frequency
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14. Consumer Research: Market Segments
• Geographic, Demographic, Psychographic and
Behavioral data used to understand sub-
groups i a l
in larger market
k t
• Data is compiled and analyzed to create distinct
profiles or “segments”
• “Market Segmentation”= a method that allows
Market Segmentation
marketers to narrow their efforts and specifically
“target” the most valuable audiences
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15. Planning Tools: Industry Analysis
Marketing Rule #2- Understand
the Business Landscape
All businesses face challenges from
competitors and new technologies
•How?
– Market Research
• Industry Analysis
• Financial/Sales Data
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16. Industry Analysis: Research & Data
• RIAA
• IFPI
• Nielsen Media Research
• Pew Internet Life
• Forrester
• Jupiter
• Simmons
• Edison Media Research
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17. Industry Analysis: Commentary
• Billboard.biz
• P ll t
Pollstar
• New York Times
• Wall Street Journal
• Variety
• The Hollywood Reporter
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18. Industry Analysis: Trendwatching
• Springwise.com
• Look- Look
• Youth Intelligence
• Trendwatching.com
• Mediafuturist.com
• Wired.com
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19. Planning Tools: SWOT Analysis
Marketing Rule #3- Understand Your Unique Position in
the Marketplace
WHAT: SWOT analysis is a business tool used to help
entities analyze their viability in the marketplace.
• Strengths
• Weaknesses
• Opportunities
• Threats
WHY: Develop a strong picture of what can be leveraged for
success and what needs to be improved before developing
Marketing Plans and using resources
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20. SWOT Analysis Applications:
• New company (position in the market,
commercial viability, etc)
y )
• Product or brand launch
• Business idea
• St t i option, such as entering a new market
Strategic ti h t i k t
• Method of sales distribution
• Opportunity to make an acquisition
• Potential partnership
• Outsourcing a service, activity or resource
g , y
• Investment opportunity
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