MUC110.LEC3 Intro to Record Marketing

Marketing Records:
Overview & Planning
O i Pl i

© 2007 musicbizclasses.com

Marketing Overview


Two primary activities
of Record Label Business:

•Marketing & Promotion
Creating the “Package”
or the “Story”
Story

•Distribution (Sales)
Distribution
Selling the finished “Product”

Definitions:

•Marketing & Promotion
Marketing
“Bringing the consumer
to th
t the product (music)”
d t( i )”

•Distribution (Sales)
“Bringing the product (music)
Bringing
to the consumer”
Source: Arny Schorr, Smore Entertainment, Artists House video


What is Marketing?
A holistic strategy & process which
identifies, anticipates and meets customer
needs to promote the exchange of p
p g products
and services in a marketplace.

GOALS:
1)Create successful packaging/image
of your company and services offered
offered-
Creating the brand/Creating the story.

2)Communicate with customers about what
you have to offer and why your offering has
value –Promoting the brand

Record Label Marketing Team
Marketing Dept.
Marketing

Product Management
Artist Development Radio Promotion
Artist Relations
Promotions

Publicity
P bli it

Sales
S l

The Marketing Team:
Product managers/ AD Managers-
manage/oversee complete record marketing
process and teams to product launch
(new release)

Marketing managers-
branding,
branding sales campaigns post-production
campaigns, post production
product management

Publicists- Developing stories for the press


The Marketing Team:
Radio &Video Promotion managers- Garnering
Exposure on Major Commercial Radio and
Music Television stations

Promotions managers- C ti b
P ti Creating buzz and
d
raising awareness via contests; giveaways

Advertising & Media managers- Developing
Ad campaigns; buying media
p g y g

Partnership marketing- extending brand reach
through cross-marketing
th h k ti

Key Marketing Functions
Pre-Market:

• Goal Development
• Planning
• Research Consumer insight, product
testing, competitive intelligence
• B d M k ti
Brand Marketing Id tit positioning
Identity, iti i
• Pricing strategy
• Product Development
• Sales support Lead generation, collateral


Key Marketing Functions
In-Market:
• Publicity Managing the Press
• Promotions Events, contests, Radio/TV promoters
• M di B i /Ad ti i
Media Buying/Advertising Messaging, M di B i
M i Media Buying,
Developing “creative”
• New Media/Electronic SEO, Social Media
Optimization,website management, mobile marketing
• Partner Marketing Sponsorships, strategic alliances
• Tracking results


Planning & Research


Planning Tools: Consumer Research
Marketing Rule #1 Know your audience

All successful marketing campaigns start
with knowing you aud e ce
t o g your audience
• How?
– Market Research
• Consumer research
• Sales Data


Consumer Research:
Geographic
Detailed D
D il d Data
Nations, states,
regions or cities Points

Demographic
Age, gender, family size,
income, education

Psychographic
Lifestyle, attitudes, values

Behavioral
Benefits sought, usage
habits,
habits frequency


Consumer Research: Market Segments

• Geographic, Demographic, Psychographic and
Behavioral data used to understand sub-
groups i a l
in larger market
k t

• Data is compiled and analyzed to create distinct
profiles or “segments”

• “Market Segmentation”= a method that allows
Market Segmentation
marketers to narrow their efforts and specifically
“target” the most valuable audiences


Planning Tools: Industry Analysis
Marketing Rule #2- Understand
the Business Landscape

All businesses face challenges from
competitors and new technologies
•How?
– Market Research
• Industry Analysis
• Financial/Sales Data

Industry Analysis: Research & Data
• RIAA

• IFPI

• Nielsen Media Research

• Pew Internet Life

• Forrester

• Jupiter

• Simmons

• Edison Media Research


Industry Analysis: Commentary

• Billboard.biz

• P ll t
Pollstar

• New York Times

• Wall Street Journal

• Variety

• The Hollywood Reporter


Industry Analysis: Trendwatching

• Springwise.com

• Look- Look

• Youth Intelligence

• Trendwatching.com

• Mediafuturist.com

• Wired.com

Planning Tools: SWOT Analysis

Marketing Rule #3- Understand Your Unique Position in
the Marketplace

WHAT: SWOT analysis is a business tool used to help
entities analyze their viability in the marketplace.

• Strengths
• Weaknesses
• Opportunities
• Threats

WHY: Develop a strong picture of what can be leveraged for
success and what needs to be improved before developing
Marketing Plans and using resources

SWOT Analysis Applications:

• New company (position in the market,
commercial viability, etc)
y )
• Product or brand launch
• Business idea
• St t i option, such as entering a new market
Strategic ti h t i k t
• Method of sales distribution
• Opportunity to make an acquisition
• Potential partnership
• Outsourcing a service, activity or resource
g , y
• Investment opportunity


FOR EDUCATIONAL USES ONLY

DO NOT COPY OR DISTRIBUTE


MUC110.LEC3 Intro to Record Marketing

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