Essay About Following Gaga’S Key Success Factors And Lady Gaga Competitive Strategy

Lady Gaga Success Factors
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Lady Gaga Competitive Strategy – 10/02/2015We identified in the following Gaga’s key success factors, distinguishing between internal and external factors.Internal factorsThe key abilities that brought Lady Gaga to success are identified in her ability as a performer, which are displayed through her ability to sing and dance; also, her commitment to art and the commercial style of her music. Another key factor is her ability to successfully connect with her fan base, creating a community of fans willing to pay for her songs rather than illegally download it. The creation of a brand of herself leads people[pic 3][pic 4] to always have something to talk about, which increases the awareness of her among every music enthusiast (even if he/she is not a “Little Monster”). Plus, she aims at the gay community with an attitude of acceptance and through this gains a very strong linkage with this section of her fan base.External factorsExternal factors benefiting Gaga’s success include the large popularity of the pop music industry along with the variety of platforms in which Gaga can display her work. She exploited social media marketing (with the help of the music industry) by using twitter, Facebook, etc. in order to connect to her fans. We believe Lady Gaga actually has a strategy. She entered a high-potential market and was able to stand out against their competitors due to her ability to market herself as an artist, create a loyal fan base and the efficient use of social media. She created a joint venture founding her own music label, she leveraged her unique personality and form of expression in order to gain attention and recognition. In addition to that she exploited social media at their full potential by maximising their promotion effect and minimising the replacement effect by forming relationships with her fans. She also maintained these relationships by giving her fans the opportunity to get to the backstage if they showed a truly great commitment to her [via]. We believe that on an artistic point of view this strategy is sustainable, however in the music industry also the commercial segment is fundamental. Unfortunately for Lady Gaga,her commercial strategy is easy to emulate, making her competitive advantage not sustainable in the long run.