Existing Market.
The customers had lots of constructive feedback to offer. They seemed to really understand what the people would want. They liked the idea of creating a brand that represents a lifestyle. They believed it would be a key tool for attracting customers. If we promote the brand properly we will be able to send off the energy and appeal that people are looking for. The customer base is mainly avid music listeners, and we must use that to our advantage.
Through events and advertising, we will be able to promote a brand that people are connected to. When they see if they feel good. Music has the ability to alter emotion and we are going to utilize that properly. Our goal is to make it so that when people see the brand they think of their favorite song, artist, or music experience, which will generate positive emotion.
New Market.
The book industry is a market that is very separate from music streaming. My ventures concept can be valuable for this market because in both markets that is an extremely wide range of content. Music and books are both very different expressions of art but have almost infinite products. This idea has the ability to make a book industry that focuses on achieving an extremely wide range of book availability. Maybe a network of books that are tracked in order to give people access to a wide range.
I learned a lot about this market. I'm not a huge fan of reading so this is a market that I am very unfamiliar with. Music is all about audio and listening. Just like the music businesses, the book industry has also developed and changed throughout the advancement of technology. The interviewees shared some interesting things about the book market and one of them was that people are constantly trading books. That is something that is uncommon in lots of markets. I wasn't surprised by that aspect but it made me think much deeper into this new market. It seems like an attractive and versatile market with lots of opportunities.
Dear Abraham,
ReplyDeleteI think you did a great job on this assignment. Your'e totally right when you say that the cusotmers were able to understand what the people what - that's your best roommate. I also agree that your brand represents a lifestyle - which is music. I also don't think your consumers only have to be avid music listeners but could be an audience of any type of music consumers.