Marketing Assignment Sample Essay Writing Analysis Review Help: Business Strategy of Sound Buzz & Competitive five forces model
Question?? Develop the business strategy with the help of competitive five forces for Sound Buzz
Answer the question frame is:
Business strategy using the competitive five force model for Soundbuzz
Threat on new market entrants: The strategy for facing the threat of the new entrants used by the company includes the diversification of its area in order to have less effect of the market entrant. The company initiated tie ups with several organizations and companies related to electronic products like mobile devices etc. the company also collaborated with several music companies in order to make it difficult for the new market entrants to enter the industry and create competition for the company. The company developed its B2B and B2C business model in order to increase competitiveness in its market place (Hill and Jones 2009).
Threat of substitutes: The company was facing the threat of replaced by the substitutes which is the free downloads available to the customers in order to cope with this issue the company initiated its business model and expanded from B2C to B2B business model.
Bargaining power of buyers: The buyers have a high bargaining power as the buyers has switched towards free downloadable music instead of the licensed music contents which they needs to purchase, so in order to face this problem the company formed partnership with creative technologies and Regincom manufacturers of the MP3 players and also partnered with SingNet and pacific net as apart of their retail strategy (Hill and Jones 2009).
Power of suppliers: The company has a limited affect of the suppliers as the company has the tie ups with the music companies and has a good collaboration with them to supply their music to people using the digital media.
Degree of rivalry or existing competition: the company also has to face the existing rivalry from the existing market players and this has been resolved when the company has been taken over by Motorola in order to expand its service of MotoMusic (Hill and Jones 2009).
The crucial elements for the online music service are the easy availability of the songs and the large data base of songs which provide the customers with several options and to select from this range of songs of their choice. The crucial element also includes the cost factor which the company is charging from the customers and also the features of the website like the free download facility of some selected songs, offers, free audio music listening service etc (Sekhar 2009).
Inbound logistics: Inbound logistics services of company include data base management of the company managing the overall digital music platform. This includes the management of more than 750000 tracks and 500000 mobile music derivatives in its data bases.
Operations: The operations of the company include the management of the website and providing the customers with services associated with the download of music of their likings.
Outbound logistics: The outbound logistics includes the supply of music by the storage in the web portal and allowing the customers to download music from the portal by paying for them (Sekhar 2009).
Marketing and sales: This is done by launching effective schemes from time to time, like free download of some music. Tie ups with large music organizations and other service providers, collaboration with large music companies for launching their music online and also launching music of new artists (Sekhar 2009).
Service: The services are provided using the online portal of the company. The company is one of the Asia largest online mobile music company, which provides its services in the form of downloadable music and videos and also the acquisition of the licences from the music publishers and the recording companies(Sekhar 2009).
Soundbuzz has been acquired by Motorola in order to expand its services names MotoMusic service. The company wanted to expand these services in the markets like Southeast Asia, Australia, New Zealand, China and India. The company main motive behind this acquisition is to enhance its services in the digital music experience it provides to its customers in Asia region and attain its objectives of increasing customer’s base and providing high quality music to its customers. Thorough this partnership of both the companies Motorola can expand its network of products and also provide high quality music products and downloadable music to its customers increasing their satisfaction (Yahya 2008).
The synergy created will be the increase in the number of music lists the company can offer to its music loving customers and also the large data base of music which will be available to the customers all the time. With this partnership the company can easily increase its customers and can also meet the demands of extensive original music range requirement of its customers (Yahya 2008).
There are several services and products offered by the company. The company offers in retail digital music and also offers the sale of the secured and downloadable content using the digital distribution channel. The company provides services of listening and downloading of several kinds of music under one website, the company also offers in its website the downloading of licensed music and videos. The company offers a large data base of downloadable music and videos from which the customers can select the music of there choice. The company has a tie up with Trivnet ltd. which is a payment technology infrastructure provider. The company using the Trivnet services provides multiple billing channels using which the customers can make their payments (Gelder 2005).
The company uses the internet services provider bills and also the mobile operator bills to charge its customers for the music and services provided. The company main revenue model is the sale of type online music to the customers and also the tie ups with several B2B partners like creative technologies and Reigncom who are the manufacturers of the MP3 players which can deliver the sound buzz music stores through their digital music players. The company also has the revenue generation platform by the way of launching the music of new artists. The company also has the billing system in Singapore and a tie up with SingNet and Pacific net as a part of their retailer strategy allowing the company to charge the customers purchases in the monthly ISP billing services (Gelder 2005).
Sound Buzz is somewhat successful in coordination with several large and major labels like Sony, Warner music, BMG Universal and EMI etc. looking at these factors it can be said that the company was successful to an extent as it faced several problems and also issues through out its business period. The company needs several improvements for the development of its business activities. The company needs to advertise its business in an aggressive manner and also provide several schemes by which the customers gets attracted towards the company services and music it offers the company also needs to improve its technology and improve the quality of audio and video it offers (Gelder 2005). The company can offer the digital and high quality videos through which its business gets increased. The company can also try to capture several large mobile companies to put its web and application in their devices and try to expand its market and reach. The company also needs to collaborate with several electronic companies who are launching several products like MP3 players, Ipods, tablets etc. the company can learn to market its services like ITunes and also popularise itself like them. The company can also launch its media player computer program which the customers can use to play songs, videos and can also be used to save and organize the digital music play list on the customer’s desktops and other electronic appliances (Gelder 2005).
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