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Introduction

Consulting For A Local Record Label 1. Introduction I have been hired as an E-commerce consultant by a local established record label. They are keen to exploit the potential of the global market by expanding their customer and client base and capitalizing on the growing trade in downloading music. Definition of E-commerce extracted from "E-commerce is a way of doing real-time business transactions via telecommunications networks, when the customer and the merchant are in different geographical places. Electronic commerce is a broad concept that includes virtual browsing of goods on sale, selection of goods to buy, and payment methods. Electronic commerce operates on a bona fide basis, without prior arrangements between customers and merchants. E-commerce operates via the Internet." 2. Methodology I will be using the following websites to investigate the questions set in this assignment. Yahoo Google HMV Virgin 3. Findings From my research I found that the ongoing development of technology particularly in the World Wide Web has headed millions of companies to take advantage of setting up an internet website where their products and services can be sold and thus maximize the profits of the company by reaching their target market. ...read more.

Middle

which is very cost effective as it minimizes the costs of the company. Customers can shop 24/7 at their convenience. There is always the product they need and thus their needs are met more efficiently and their perception will not change. Moreover, HMV slightly repositions their market place by differentiating their product range which now includes many products which are needed to listen to digital music in the form of MP3. One of these products are MP3 players and an IPod shown below. Customers can also benefit from managing their own music collection and burning their music to CDs concurrently complying with the law. The price is very affordable and reasonable as it meets the needs of diverse types of customers. Please see the price list of HMV Digital Music: Choice A Choice B Choice C Unlimited access �14.99 a month right to burn the music to CDs Limited access 50 tracks �4.99 a month Individual tracks or entire tracks The price varies The customers are allowed to listen to 30 seconds the music they are interested in buying prior to their purchase. ...read more.

Conclusion

Another company which produces music phones is Motorola, Motorola iTunes Phone which has been in the market for a 3 months (August 2005). It has gor similar functions as has the iPod. Arguably, there are many other companies which produce very similar products such as MP3 players which are much cheaper. However, my research showed that despite the availability of products such as MP3 players, customers still prefer to buy traditional CDs. This may be because of not being able to use the Internet or special software to download music as well as the fact that not many people have a computer. Also, the majority of the respondents did not recognize the websites of companies such as MSN music or HMV, i.e. these companies are not efficient in making sure that people are aware of the availability of online music which can be downloaded legally. In my personal opinion, CDs will soon become old-fashioned as the influence of independent label companies and online businesses selling digitalized music will attract more customers as it is more convenient as the customers can listen to the songs they want to download and also it is cheaper and time effective. Prices will and are coming down. ...read more.

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