Music Cultures & Marketing Principles Essay Example | Topics and Well Written Essays - 1500 words - 1

Music Cultures & Marketing Principles - Essay Example Presently, digital media is a mass source in context of production, consumption and distribution of music. The growing competition in the entertainment industry has resulted in a greater demand for strong marketing strategy so that the industry is protected from piracy and distribution is not hampered in the process. The music industry can be classified in two sectors: music recording and musical events (Vaccaro and Cohn, 2004). The paper focuses on discussing various components of marketing mix that has positive impact on the industry as a whole. Music industry is primarily defined by the creation and selling of music by an individual or by certain company. The recording industry is one of the primary sources of income in the music and entertainment industry. There are a number of individuals who operate within the music industry namely, music composer, lyricists, instrumentalists, music publishers, producers, sound engineers and legal managers. The functions in the recording industry do not end with just creation of music; it is rather the first step which is followed by several other steps such as giving the music shape of commodity in the form of CDs, DVDs and soft copies, marketing and promoting the recorded sound and selling the same at a pre-decided price (Hull, Hutchison and Strasser, 2011). Rapid evolution of interactive marketing methods and online distribution channels, following ongoing marketing trends may not prove sufficient for recording companies. The companies need to focus developing marketing strategy for the future while considering current trends as the base. Two important measures that these companies require adopting include legalisation of the music they produce so as to gain control and undertake measure to compete with piracy as going by the trend, it is almost impossible for even legal institutions to stop piracy. In the following section, each element of marketing mix has been discussed elaborately that record

Management and the Global Economy Essay Example | Topics and Well Written Essays - 1250 words

Management and the Global Economy - Essay Example Such companies are Ericsson, Honda and Chiquita among others. This paper looks into the above companies and offers light in respect to their strategies that have seen them conquer their respective lines of operation. Significance of Technology/ Ethics/ Culture in International Business Management Facebook is a widely used social site which attracts people who are mostly between 18-30 years. Its strengths include the wide fan base that currently stands at slightly over 600 million. It is partly owned by Mark Zuckerberg and Microsoft which bought minority shares worth $240 million in 2007. The company has reformed over time by upgrading its site to suit the changing customer needs as well as to outwit competitors. Fans are able to post and share videos and photos with their friends, send messages, chat online among other unique and new features. It has however been criticized for not regularly updating the fan page. According to Latham (2011) Facebook should take advantage of the onlin e advertisement boom to increase on revenue base and popularity. The company has also faced many legal battles and political interference for example the recent case where classmates of the founder wanted to be cashing more from the company claiming to have co-founded the company. Football or soccer has a peculiar popularity which is part of culture in Europe and United Kingdom to be precise. Manchester United is one club that has a wide following not only in UK but in the whole world. The club has a fan base that comprises of five percent of the global population. Manchester United Plc. has taken advantage of this by expanding its revenues sources to Asia, Africa and Latin America through sales of club’s merchandise like jerseys and magazines as stated by ESPN. The club is currently owned by the Grazer family from United States which controls seventy percent stake. The club’s financial status has not been appealing due to high expenses and less-than-matching revenues. The company takes advantage of their website to sell merchandise. Its Grazer takeover wrangles have attracted attention for a long time coupled with poor financial performance and massive debt. The strong brand name and its multinational approach are its important strengths. Although competition is intense from arsenal, Chelsea and Liverpool, Manchester has many opportunities to capture a wider market and fan base. Operating within ethical standards by companies draws mixed reactions as this is more of a subjective issue. That which one party may regard as ethical is totally the opposite for another. This is well illustrated by Chiquita Brands Int. where at some point it has been involved in both ethical and unethical practices. Examples of ethical practices include building schools and health facilities for its workers and their families. It also returned land to Central Americans and later funded relief efforts after the 1972 earthquake. Unethical ones include being involved in c orruption with the Costa Rica’s government, assisting CIA to topple Guatemala government, helped in the attack of Cuba in early 1960s and many others as stated in Chiquita Brands Int. Case Study. The company has had a huge influence on the political landscape in South America which has ultimately affected its image negatively acting as its weakness. It has also been good in breaking laws