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Marketing plan - Spotify. Overall it can be seen in Spotifys strategic position and organisational strategy that the company has clear mission, vision, goals and values however it appears that Spotify has a lack of communication with its target a

Extracts from this document...

Introduction

EXECUTIVE SUMMARY This short term (12 month) Marketing Plan was developed to address the significant decrease in the level of customer demand for Spotify Premium Accounts in the UK. Firstly the strategic position views the strategic position of Spotify and the situational analysis looks at how effectively the company is performing . Secondly marketing objectives and a marketing strategy are developed to resolve the steep decline in sales of the Spotify Premium accounts in the UK. Finally the plan addresses how to effectively implement and control the tasks 'pointed out' in the marketing strategy. CONTENTS PAGE 1.0 INTRODUCTION 1.1 Background and context of current position 1 1.2 Identification of the key issue/basis for plan 1 2.0 ORGANISATIONAL STRATEGIC POSITION 2.1 Organisational vision, mission and strategic intent 2 2.2 Organisational corporate objectives 3 2.3 Summary of overall strategic position and organisational strategy 4 3.0 SITUATIONAL ANALYSIS: MARKETING 3.1 External Audit 3.1.1 Customer analysis 4 3.1.2 Industry, competitor and intermediary analysis 4 3.1.3 Market trends and future projections 4 3.2 Internal Audit 3.2.1 Marketing organisational structure and systems 5 3.2.2 Marketing related resources, competencies and capabilities 5 3.2.3 Brands, product ranges, lines and items 5 3.3 SWOT 3.3.1 Strengths analysis 6 3.3.2 Weaknesses analysis 6 3.3.3 Opportunities analysis 6 3.3.4 Threats analysis 6 3.3.5 Swot profile and imperatives 7 4.0 MARKETING OBJECTIVES 4.1 Strategic marketing objectives 7 4.2 Financial based objectives 7 5.0 Marketing strategy 5.1 Market segmentation analysis 8 5.2 Basis of competitive advantage 9 5.3 Target market(s) profile(s) 10 5.4 Alternative target market(s) strategy specification(s) 10 5.5 Target market(s) strategy selection 11 5.6 Marketing programme positioning and tactical /operational objectives 5.6.1 Product 12 5.6.2 Price 12 5.6.3 Promotion 12 5.6.4Place/channel distribution 13 5.6.5 Physical evidence 13 5.6.6 People 13 5.6.7 Process 13 6.0 Implementation and control 6.1 Timing, responsibilities and budgets 14 6.2 Monitoring and control 16 7.0 APPENDICES 7.1 Detailed Marketing Audit: External and Internal 17 7.2 Calculation of budget figures for year 1: Implementation phase data 28 7.3 Spotify Symbian phone ...read more.

Middle

At the end of 2010 more than 400 legal music services now exist worldwide (IFPI 2011). It is estimated that 16.5 % of internet users purchase digital music in the US. The increase value of the digital music market between 2004 and 2010 was +1000%(IFPI 2011). There was seen to be a 6% growth in global music revenue in 2010 (IFPI 2011). Spotify attracts over 750,000 paying subscribers across its market, it is the biggest retailer in Norway and Sweden and it the number two digital service in european after ITunes (IFPI 2011). The Geographical distribution of Spotify is limited due to different music laws in different countries so far Spotify is available in Sweden, Spain, Netherlands, Finland, UK, and France. Their is opportunities for Spotify to expand to countries as American and Japan, however Spotify will need to develop and adapt to the legal challenges. 7.1.2.2 Customers There seems to be a positive attitude towards Spotify from its customer there is an online free help forum that often users get quick useful help from (Get Satisfaction 2011). Spotify serves is a wide variety of ages and different genders but in particular those who are younger (16 - 25years old), technology minded and who have a love for music (IFPI 2010). The needs of the customer are that they want quick music with easy access on the spot for a cheap as possible ( Pull 2009). 7.1.2.3 Competitors Spotify has a huge range of competitors they are: ITunes, Google Music, Napster, Amazon, Hmv Digital, Sky, TDC Playm, Terra Sonara, Vero, Emusic, 7digital, Rhapsody, Myspace music, Jamster, LastFm, Bleep.com, Nokia music, TDC, Deezer, Simfy, and Music Monster.fm ( Crunchbase 2011, IFPI 2010). ITunes gains the largest revenue source of the digital music market by having a 25% market share (IFPI 2011) ,with 100 million accounts being available in 23 countries. There tactics include variable pricing, launch of the Itunes LP and roll out of the DRM - free downloads, they also use artist endorsement to promote their brand. ...read more.

Conclusion

Furthermore it can be seen that marketing plays an important role in business as it can aid the success, or similarly a lack of success can cause failure. Finally the emphasis on technology and the internet being viewed upon specifically as one of many current issue evolving and shaping the way marketing takes place and occurs, emphasises how important it is for Market Executives to keep up to date. This enables companies to make the most of the latest techniques and enables them to achieve maximum results out of marketing not only to 'push' sales but to promote brand awareness of the company. REFERENCE LIST Ailawadi, K, L. Lehmann, D, R and Neslin, S.A. 2000. Revenue premium as an outcome measure of brand equity. Journal of Marketing, 67(oct) pp.1 - 17 Bharadwaj, A, S,. Bharadwaj, S,. Konsynski, B, R. (1999). Information Technology Effects on Firm Performance as Measured by Tobin's Q, Management Science, 45 (7),pp.1008-1024. Bonoma, T, V. (1985), The Marketing Edge-Making Strategies Work, Free Press. New York, Brownlie, D. (1985). The anatomy of strategic marketing planning". Journal of Marketing Management, 1(1), pp. 35-63. Brumbourgh, S. 2010. Role of Marketing and Market Research in forecasting. Journal of business forecasting, 29(2) pp. 30-3. Day.1994.The Capabilities of Market-Driven Organizations. Journal of Marketing, 58 October, pp. 37-52. Kotler, P. (1984), Marketing Management, Prentice-Hall:NJ Peattie, K,J. and Notley, D.S. 1989.The Marketing and Strategic planning interface. Journal of marketing management. 4(3), pp. 330-349. Phillips, P. 2008. Marketing/accounting synergy: a discussion of it's potential in e - business planning. Journal of Marketing Management, 68(4) pp 76-89. Rust, Roland, Ambler, Tim, Carpenter, Gregory S., Kumar, V. and Srivastava, R, K. 2004. Measuring marketing productivity: current knowledge and future directions. Journal of Marketing, 68(4) pp. 76-89. Song,M. Nason, R,W. Di Benedetto, C, A. 2008. Distinctive Marketing and Information Technology Capabilities and Strategic Types: A Cross-National Investigation. Journal of International Marketing. 16(1). Pp4-38 Wicken, G and Asquith, R. 2008. Turning the amplication up to 11. International Journal of Market Research, 50(6), pp. 777-795 ?? ?? ?? ?? ...read more.

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