Business PlanEssay Preview: Business PlanReport this essayMissionTo provide customers with online music, and the ability to listen, download, e-mail and share this music at a low price.StrategyMusic4ever.coms strategy is based on four key strengths that are believed to support competitiveness, scalability and sustainable growth.Low unit cost – Music4ever.com keeps unit costs low (cheap downloads) byEliminating all sales intermediaries between the customer and Music4ever.comFocusing on internet salesEliminating unnecessary service frillsEstablishing a long-term relationship with suppliersStrong brandingCommitment to customer serviceMulti based networkSituation AnalysisCompetitive EnvironmentMusic4ever has identified the various competitors that exist in the music industry, the presence of big digital music providers and what they are doing. Wide ranges of activities are carried out to satisfy their customers. Some of the providers investigated are napster.com, realMP3music.com, real networks.com and AOL.com amongst others.
RealMP3musicThey have an unlimited selection plus unparalleled support. The site is very user-friendly focused at making its ideas for beginners through experts. There is only a monthly fee of $.99 for unlimited access. No additional per download fees, and provided is a great technical support. The site is fast and easy to navigate. There were tools on the website to deliver songs with excellent music quality from various networks. Tools to download everything from Rock to pop including complete CDs and albums. Available were excellent search tools to search by artist, genre, and CD title or song etc.
One can also download unlimited movies including xxx to kids movies and either watch them right on your computer or burn them to CD or DVD.The $.99 per month is a flat fee, there are no additional costs, and no additional charge per download for anything you download.They have a promotion in place join and get a free desktop MP3 player or movie player.Download speeds are excellent, as was compatibility with both MAC and PC. The site is also compatible with phone modems (AOL) and broadband (cable and DSL).
Napster.comNapster, now owned by Roxio, was the original pioneer of free music downloading but ran into a liitle trouble with the law, which the law won. It has now been reborn with the same brand name but little else more.
Although a little pricey at $9.95 per month, the new Napster is the place to go for direct downloading of Copyrighted tunes from your favourite Artists. Napster offers great quality, fat downloads and an easy to use interface with a library of 500,000 songs.
For the monthly fee an unlimited access to their growing library of great music for downloading or playing on your computer is guaranteed. The only negative is that you must pay an additional $.99 per song if you want to burn. Napster operates a pay per burn sites.
Napsters services are easy to use, making it ideal for beginners and intermediate downloaders.Using the five porters model to analyse the competitive environment:Rivalry amongst existing customers:The e-commerce has reduced differences among the different digital music providers has offerings are difficult to keep proprietary.E-commerce has, amongst the digital music providers migrated competition to price. They try to compete by lowering the price of downloading songs, albums.
There are increasing number of competitors because the Internet widens the geographic market.There are increasing pressures for pricing discounts amongst the various digital music providers because the Internet lowers variable cost relative to fixed cost.
Not much differentiation between services. Price is the main differentiating factorBargaining power of suppliersThe digital music providers have equal access to suppliers and gravitate procurement to standardized products that reduce differentiation.Suppliers have a strong bargaining power because they are reputable record companies e.g. Sony, Emi etc.Bargaining power of buyersBargaining power is shifted to end-users so the bargaining power of the buyers is highMusic4ever.com has to work toward building a strong customer loyalty because of low switching costs.Barriers to entryThe Internet applications are difficult to keep proprietary from new entrants.A flood of new entrants has come into the music industry e.g. wal-mart now sells music online, music ring tones can be downloaded to mobile phones via the wal-mart website.
One more thing to add: we don’t want to let everyone think our system is obsolete. We don’t consider this as an insult or a threat by the music companies. The system needs improvement. We want our customers to have access to real music. And if these new entrants don’t have access, they can’t compete on demand, we can’t be a better market for the users of the systems to run on.We want our customers the choice to own their music (there is no competition. The whole system is in flux). Our goal is to be a more comprehensive service that allows customers to decide for themselves what music they want (on their phone devices) and to pay out for it. There is no question that this will be in the future. We are going to focus on what truly interests us.”
We’re open-minded – the users do what matters. Your mileage may vary.
What will music-related problems require more than free, non-commercial service?
The most common one and the largest is the DRM problem. DRM is the idea that, if a song is a rip-off you have to convert it into an MP3. If that’s too much you have to pay a royalty fee, and if that’s going to cost you money, you must convert it into a CD. DRM has the potential to be used for a range of different things. That’s why we are exploring both new ways to do it as well as reusing existing ones.We look at CD as a commodity – it represents a standard way to share music with a customer and we think people value it well too.
We expect music providers globally to be able to offer CD products and services faster and faster. In fact, I think we are the first to see it being developed for the internet. We have shown that music providers need to continue to invest in customer relationships outside of the e-commerce platform, both to help build loyalty and provide better music. We are also looking at a more advanced consumer approach.”
Bargains should be based on proven best-practices and technical specifications and the ability of service providers to manage competing offers. When things work out better, services can begin to become more widespread and they will have to look at new things to do and develop new techniques for that.
The company should take steps within the next few years to implement and implement new, new and better technologies to make music more effective.
It takes courage, determination and creativity to change your customer experience and we hope that the more people in your world who are excited about music are, the better. In that spirit, our community has expressed interest in participating. Please consider leaving a comment to send along your thoughts and help improve services throughout the web.”
For now we remain focused on improving services. Please support our effort with our blog!
Bargaining Power: A Strategic StrategyA comprehensive set of information resources is available to support management of pricing in relation to music services. This information includes, for example, whether you have to pay a fee for iTunes.A comprehensive set of financial and economic indicators are available to support the management of pricing in relation to music services. This information includes: a. IncentivesBargaining power of users of digital products and services that have a low operating profitCodes with different market conditions that cause consumer to decline into the digital music servicesBargaining power of producers who offer certain digital product themes, including digital labelsCodes in their music industry that attract consumers to their products and service (e.g. digital labels and artists) where these themes are in different bands, genres, or markets and the quality of the product is not satisfactory.For example, there is a “best of” ranking which is based entirely on the quality of a “new” music product and doesn’t add many new factors to a product ranking (Ebony, Amazon Video, YouTube etc).Codes and pricing are based on your performance (use of the music industry’s best bands or genre or “new” labels or “new” music products) and there can be no other influence in those evaluations between price and selection.The purpose of these three resource packs is to provide you with a detailed analysis of pricing in a market where there is a high competitive price position. It is also to provide the customer base with a unique analytical tool including:Bargaining Power: A StrategyWith key elements this approach is a success for the end users, that they can quickly build their own business and develop their own personal tastes to ensure success with their current business.This approach allows the end users to understand the costs and benefits of their listening and are therefore able to easily make independent purchase decisions in this market where there is clear competitive pressure to reach a quality product and the choice which product to make.Bargaining Power: A StrategyThe strategic approach is therefore a win-win for the buyer and can result in lower prices for users and better marketing.For example, customers who purchase electronic music systems online or use the online services like Wal-Mart, iTunes are able to get a better understanding of their current usage on a consistent basis. This is because their data is not stored on their phones.This strategy also offers the service for offline use in order to improve their online experience as well as their online traffic.Bargaining Power: A StrategyA strategic strategy is a strategy that allows you to quickly and efficiently evaluate how your business performs in a market with low price and competitive high rate of return and the pricing is very reliable.When looking at the price of the streaming services on the internet, it is impossible to separate costs of these services according to the market condition of our company based on the competitive condition of the services.The way in which we have established the principles under which we evaluate and forecast market conditions makes it easy to understand how the costs and benefits of these services are being spent to drive the revenue generated from these services and to control the sales and pricing of these services as part of a comprehensive strategy designed to ensure revenue sustainability with the goal to lower price and return of the business.The way in which we have integrated the various approaches and technologies used for this
Bargaining Power: A Strategic StrategyA comprehensive set of information resources is available to support management of pricing in relation to music services. This information includes, for example, whether you have to pay a fee for iTunes.A comprehensive set of financial and economic indicators are available to support the management of pricing in relation to music services. This information includes: a. IncentivesBargaining power of users of digital products and services that have a low operating profitCodes with different market conditions that cause consumer to decline into the digital music servicesBargaining power of producers who offer certain digital product themes, including digital labelsCodes in their music industry that attract consumers to their products and service (e.g. digital labels and artists) where these themes are in different bands, genres, or markets and the quality of the product is not satisfactory.For example, there is a “best of” ranking which is based entirely on the quality of a “new” music product and doesn’t add many new factors to a product ranking (Ebony, Amazon Video, YouTube etc).Codes and pricing are based on your performance (use of the music industry’s best bands or genre or “new” labels or “new” music products) and there can be no other influence in those evaluations between price and selection.The purpose of these three resource packs is to provide you with a detailed analysis of pricing in a market where there is a high competitive price position. It is also to provide the customer base with a unique analytical tool including:Bargaining Power: A StrategyWith key elements this approach is a success for the end users, that they can quickly build their own business and develop their own personal tastes to ensure success with their current business.This approach allows the end users to understand the costs and benefits of their listening and are therefore able to easily make independent purchase decisions in this market where there is clear competitive pressure to reach a quality product and the choice which product to make.Bargaining Power: A StrategyThe strategic approach is therefore a win-win for the buyer and can result in lower prices for users and better marketing.For example, customers who purchase electronic music systems online or use the online services like Wal-Mart, iTunes are able to get a better understanding of their current usage on a consistent basis. This is because their data is not stored on their phones.This strategy also offers the service for offline use in order to improve their online experience as well as their online traffic.Bargaining Power: A StrategyA strategic strategy is a strategy that allows you to quickly and efficiently evaluate how your business performs in a market with low price and competitive high rate of return and the pricing is very reliable.When looking at the price of the streaming services on the internet, it is impossible to separate costs of these services according to the market condition of our company based on the competitive condition of the services.The way in which we have established the principles under which we evaluate and forecast market conditions makes it easy to understand how the costs and benefits of these services are being spent to drive the revenue generated from these services and to control the sales and pricing of these services as part of a comprehensive strategy designed to ensure revenue sustainability with the goal to lower price and return of the business.The way in which we have integrated the various approaches and technologies used for this
Bargaining Power: A Strategic StrategyA comprehensive set of information resources is available to support management of pricing in relation to music services. This information includes, for example, whether you have to pay a fee for iTunes.A comprehensive set of financial and economic indicators are available to support the management of pricing in relation to music services. This information includes: a. IncentivesBargaining power of users of digital products and services that have a low operating profitCodes with different market conditions that cause consumer to decline into the digital music servicesBargaining power of producers who offer certain digital product themes, including digital labelsCodes in their music industry that attract consumers to their products and service (e.g. digital labels and artists) where these themes are in different bands, genres, or markets and the quality of the product is not satisfactory.For example, there is a “best of” ranking which is based entirely on the quality of a “new” music product and doesn’t add many new factors to a product ranking (Ebony, Amazon Video, YouTube etc).Codes and pricing are based on your performance (use of the music industry’s best bands or genre or “new” labels or “new” music products) and there can be no other influence in those evaluations between price and selection.The purpose of these three resource packs is to provide you with a detailed analysis of pricing in a market where there is a high competitive price position. It is also to provide the customer base with a unique analytical tool including:Bargaining Power: A StrategyWith key elements this approach is a success for the end users, that they can quickly build their own business and develop their own personal tastes to ensure success with their current business.This approach allows the end users to understand the costs and benefits of their listening and are therefore able to easily make independent purchase decisions in this market where there is clear competitive pressure to reach a quality product and the choice which product to make.Bargaining Power: A StrategyThe strategic approach is therefore a win-win for the buyer and can result in lower prices for users and better marketing.For example, customers who purchase electronic music systems online or use the online services like Wal-Mart, iTunes are able to get a better understanding of their current usage on a consistent basis. This is because their data is not stored on their phones.This strategy also offers the service for offline use in order to improve their online experience as well as their online traffic.Bargaining Power: A StrategyA strategic strategy is a strategy that allows you to quickly and efficiently evaluate how your business performs in a market with low price and competitive high rate of return and the pricing is very reliable.When looking at the price of the streaming services on the internet, it is impossible to separate costs of these services according to the market condition of our company based on the competitive condition of the services.The way in which we have established the principles under which we evaluate and forecast market conditions makes it easy to understand how the costs and benefits of these services are being spent to drive the revenue generated from these services and to control the sales and pricing of these services as part of a comprehensive strategy designed to ensure revenue sustainability with the goal to lower price and return of the business.The way in which we have integrated the various approaches and technologies used for this
Bargaining Power: A Strategic StrategyA comprehensive set of information resources is available to support management of pricing in relation to music services. This information includes, for example, whether you have to pay a fee for iTunes.A comprehensive set of financial and economic indicators are available to support the management of pricing in relation to music services. This information includes: a. IncentivesBargaining power of users of digital products and services that have a low operating profitCodes with different market conditions that cause consumer to decline into the digital music servicesBargaining power of producers who offer certain digital product themes, including digital labelsCodes in their music industry that attract consumers to their products and service (e.g. digital labels and artists) where these themes are in different bands, genres, or markets and the quality of the product is not satisfactory.For example, there is a “best of” ranking which is based entirely on the quality of a “new” music product and doesn’t add many new factors to a product ranking (Ebony, Amazon Video, YouTube etc).Codes and pricing are based on your performance (use of the music industry’s best bands or genre or “new” labels or “new” music products) and there can be no other influence in those evaluations between price and selection.The purpose of these three resource packs is to provide you with a detailed analysis of pricing in a market where there is a high competitive price position. It is also to provide the customer base with a unique analytical tool including:Bargaining Power: A StrategyWith key elements this approach is a success for the end users, that they can quickly build their own business and develop their own personal tastes to ensure success with their current business.This approach allows the end users to understand the costs and benefits of their listening and are therefore able to easily make independent purchase decisions in this market where there is clear competitive pressure to reach a quality product and the choice which product to make.Bargaining Power: A StrategyThe strategic approach is therefore a win-win for the buyer and can result in lower prices for users and better marketing.For example, customers who purchase electronic music systems online or use the online services like Wal-Mart, iTunes are able to get a better understanding of their current usage on a consistent basis. This is because their data is not stored on their phones.This strategy also offers the service for offline use in order to improve their online experience as well as their online traffic.Bargaining Power: A StrategyA strategic strategy is a strategy that allows you to quickly and efficiently evaluate how your business performs in a market with low price and competitive high rate of return and the pricing is very reliable.When looking at the price of the streaming services on the internet, it is impossible to separate costs of these services according to the market condition of our company based on the competitive condition of the services.The way in which we have established the principles under which we evaluate and forecast market conditions makes it easy to understand how the costs and benefits of these services are being spent to drive the revenue generated from these services and to control the sales and pricing of these services as part of a comprehensive strategy designed to ensure revenue sustainability with the goal to lower price and return of the business.The way in which we have integrated the various approaches and technologies used for this
Bargaining Power: A Strategic StrategyA comprehensive set of information resources is available to support management of pricing in relation to music services. This information includes, for example, whether you have to pay a fee for iTunes.A comprehensive set of financial and economic indicators are available to support the management of pricing in relation to music services. This information includes: a. IncentivesBargaining power of users of digital products and services that have a low operating profitCodes with different market conditions that cause consumer to decline into the digital music servicesBargaining power of producers who offer certain digital product themes, including digital labelsCodes in their music industry that attract consumers to their products and service (e.g. digital labels and artists) where these themes are in different bands, genres, or markets and the quality of the product is not satisfactory.For example, there is a “best of” ranking which is based entirely on the quality of a “new” music product and doesn’t add many new factors to a product ranking (Ebony, Amazon Video, YouTube etc).Codes and pricing are based on your performance (use of the music industry’s best bands or genre or “new” labels or “new” music products) and there can be no other influence in those evaluations between price and selection.The purpose of these three resource packs is to provide you with a detailed analysis of pricing in a market where there is a high competitive price position. It is also to provide the customer base with a unique analytical tool including:Bargaining Power: A StrategyWith key elements this approach is a success for the end users, that they can quickly build their own business and develop their own personal tastes to ensure success with their current business.This approach allows the end users to understand the costs and benefits of their listening and are therefore able to easily make independent purchase decisions in this market where there is clear competitive pressure to reach a quality product and the choice which product to make.Bargaining Power: A StrategyThe strategic approach is therefore a win-win for the buyer and can result in lower prices for users and better marketing.For example, customers who purchase electronic music systems online or use the online services like Wal-Mart, iTunes are able to get a better understanding of their current usage on a consistent basis. This is because their data is not stored on their phones.This strategy also offers the service for offline use in order to improve their online experience as well as their online traffic.Bargaining Power: A StrategyA strategic strategy is a strategy that allows you to quickly and efficiently evaluate how your business performs in a market with low price and competitive high rate of return and the pricing is very reliable.When looking at the price of the streaming services on the internet, it is impossible to separate costs of these services according to the market condition of our company based on the competitive condition of the services.The way in which we have established the principles under which we evaluate and forecast market conditions makes it easy to understand how the costs and benefits of these services are being spent to drive the revenue generated from these services and to control the sales and pricing of these services as part of a comprehensive strategy designed to ensure revenue sustainability with the goal to lower price and return of the business.The way in which we have integrated the various approaches and technologies used for this
Competitive AdvantageMusic4ever.com would introduce into the marketplace moving all their services onto the web, as opposed to delivering downloads through a separate software application.
This move is as a result of a broader move by technology, which offers powerful, computing features on the web that were once limited to computer desktops and hard drives. This would be an opportunity to access a broader number of customers because it would be easier for an unsophisticated customer to visit the website and start listening to music immediately than it would be to download a software application, install it and move on to the next step.
Cost Advantage.Offer low prices to our customers, and also offer to match the lowest price in the market that the customer is able to identify.Customers would be able to customize their products,