Short Answer_ Marketing Research, Branding, and Planning Assignment

docx

School

Liberty University *

*We aren’t endorsed by this school

Course

356

Subject

Marketing

Date

Feb 20, 2024

Type

docx

Pages

Uploaded by JusticeTitanium6180

Short Answer: Marketing Research, Branding, and Planning Assignment Sydney Plummer CMUS356: Music Marketing (B01) Professor Hodges February 3rd, 2024 1. Explain the importance of market research in the marketing of recorded product as well as describe the various types of market research utilized in music marketing.

According to our textbook, market research is important in the marketing of recorded product in different ways depending on the individual label. Research is not a major division of any record label. Some of the largest labels have a small staff dedicated to consumer and industry research while others handle research chores ad hoc or hire the task out to an independent research firm. 1 The research they usually rely on the most is data about a song's performance after its release, although they do collect information about the artist before they sign them. There are different types of market research used in marketing music. Custom research is paid for by an individual company to determine specific questions, and as such can be personalized and customized depending on each specific circumstance. Syndicated research is done on an ongoing basis and is sold to subscribers by way of reports. This information is more generalized as it is going to a larger market base, but gives information such as what the best selling song was for the week. Descriptive research mainly uses surveys because of its flexibility, cost, and speed. It uses specific questions about the music in order to get information they need to make decisions. Exploratory research is used to classify and define the goals the industry has. It helps them to better understand what is going on, and find new ideas if it is not working out. 2. Discuss branding in the music industry as it pertains to record labels as well as artists. What are the elements that play into creating, building, promoting, and maintaining a brand? Our book defines branding as a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers. 2 Branding is used in the music industry involves showcasing who the artist is and how they are seen by consumers. By building their brand, an artist is able to leverage it into other revenue opportunities such as: 1 Clyde Philip Rolston, et al. Record Label Marketing : How Music Companies Brand and Market Artists in the Digital Era , Taylor & Francis Group, 2015. ProQuest Ebook Central ,http://ebookcentral.proquest.com/lib/liberty/detail.action?docID=4098068. 2 Ibid.

licensing deals, business opportunities, and endorsements. An artist's brand also helps the music company by opening up doors for marketing and increased sales as the artist gains exposure. The elements that play into creating, building, promoting, and maintaining a brand starts with figuring out who the artist is, their style, their values, as well as what makes them stand out. The next step is figuring out who that artist's audience is so that they can be properly marketed. In order to build the brand and maintain it, the artist has to be consistent with who they have shown themselves to be. This ensures that they do not alienate the audience and fan base they are building. It is a relationship. 3. Explain the importance of a marketing plan, the players involved, and the elements that are included in a marketing plan for artists and recorded product. Include elements discussed in the readings as well as the module’s video. A marketing plan is extremely important. It helps the label work with a timeline and is their blueprint for the launch of the artist’s music, although it can be altered after release to adjust for market response. There is a unique marketing plan for each release because it is based on the expected performance of the released music. It is designed for two different groups, which are the consumers and the trade. The trade includes: radio program directors, journalists, editors, distributors, and retail buyers. 3 The people involved in the plan are: publicists, PR firms, media, promotion departments, radio stations, sales staff, social media team, creative team, and touring teams. The first element included in a marketing plan is the technical information, which includes all technical information about the release, pricing information, how much of the product they are originally shipping out, SKU numbers, list of the tracks, information about the production, the release date, contact information, and a description of the goals of the project. If 3 Clyde Philip Rolston, et al. Record Label Marketing : How Music Companies Brand and Market Artists in the Digital Era , Taylor & Francis Group, 2015. ProQuest Ebook Central ,http://ebookcentral.proquest.com/lib/liberty/detail.action?docID=4098068.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

this is the artist’s first release, it may also include a short bio as well. The next section is usually the radio promotion, and lists information about the singles that are planned to be released on radio. The publicity section will list the goals of the project, what materials are being made, and what media outlets are being targeted. The retail section will have the price and position of the product for each type of store, and discuss exclusive releases if applicable. If necessary, an advertising section will discuss specific media being targeted for advertising. The video section will list production information, promotion information, and online contests that might be held. The tour section will contain a list of dates, venues, and a list of media and stores that will be included in the planning. A lifestyle section will include a list of sponsorships and co-branding opportunities. At the end there usually is a timeline of events as well as deadlines that need to be met. Reference List

Rolston, Clyde Philip, et al. Record Label Marketing : How Music Companies Brand and Market Artists in the Digital Era , Taylor & Francis Group, 2015. ProQuest Ebook Central , http://ebookcentral.proquest.com/lib/liberty/detail.action?docID=4098068.

Related Documents

StevensC_MKT 461_Netflix Case Analysis.docx

StevensC_MKT 461_Decathlon Case Analysis.docx

Formal_Outline_174053.pdf

MKT3100.docx

RobinsonJ_u1148290_mkt3100_assign1.docx

Short Answer_ Market Segmentation Assignment.docx

SPT 200 Final Project One Milestone Two.docx

MARK 3337 Chapter 4 Quiz.pdf

MARK 3337 Chapter 1 Quiz.pdf

MARK 3337 Chapter 2 Quiz.pdf

Activity1_week1.docx

Assignment 1 - Strategic Research Analysis_ Ava Patton (1).docx

Recommended textbooks for you

Marketing

ISBN:9780357033791

Author:Pride, William M

Publisher:South Western Educational Publishing

MARKETING 2018

Marketing

ISBN:9780357033753

Author:Pride

Publisher:CENGAGE L

Purchasing and Supply Chain Management

Operations Management

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Cengage Learning

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

Contemporary Marketing

Marketing

ISBN:9780357033777

Author:Louis E. Boone, David L. Kurtz

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
MARKETING 2018
Marketing
ISBN:9780357033753
Author:Pride
Publisher:CENGAGE L
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning