final ppt of service mgnt
TRANSCRIPT
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WHY SELECT MUSIC INDUSTRY???WHY SELECT MUSIC INDUSTRY???
The Music Industry in the world is one of the fastest growingsegments of the world economy.
The total revenue from the music and movies and the related
products have crossed $350 bn with a very impressive growth.
In India prior to the entry of the organized music retailers, the
music and the related products were sold through the
unorganized small shops and the distribution channels of the
production houses. But the scene has change drastically with theentry of new players into the market.
Finally, we have selected this topic to explore music retail
industry and share the information with the class.
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MUSIC RETAIL INDUSTRYMUSIC RETAIL INDUSTRY
The music industry across the globe can broadly be divided into
three segments:
Creation
Marketing and
Distribution
Music artists create music, which is marketed and distributed bya network of record labels, distributors, retailers, broadcasters and
DJs/clubs.
Labels (record companies) play an important role in all three
stages by providing capital and the marketing know-how to create,
promote and distribute music. In the music industry we as entrepreneurs would like to bring in
a revolutionary experience for all the music lovers through
introducing YOYO MUSIC
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COMPANY PROFILE:COMPANY PROFILE: YOYO MUSIC
The YOYO Music stores are mainly known for selling music
and movies and related accessories.
YOYO Music offers popular new CDs, DVD rentals and
CD/DVD recording media.
The start-up cost of YOYO Music will consist primarily of
shop deposit, rent along with the inventory and display
equipments. Investment would be of Rs.2,50,00,000.
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YOYO MUSIC
Objectives
To become the first choice of our target customers.
To create a strong DVD rental business.
To increase blank media sales by 20% each year.
Mission
YOYOMusic's mission is to offer our target customers:
The best quality popular CDs, VCDs and DVDs at affordable
prices.
The best recording media at lowest prices.
A large selection of DVD rentals.
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COMPETITORS ANALYSIS
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ONLINE COMPETITORS
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SERVICESERVICE MARKETINGMARKETING
MIXMIX
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PRODUCTS
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PRODUCT OR SERVICE DESCRIPTIONPRODUCT OR SERVICE DESCRIPTION
The primary focus is to satisfy the music needs of the target
customers. Yoyo Music offers various products which are:
New CDs
DVDs and VCDs: Every type of music/movies (Classical,
Religious, Bollywood, Hollywood etc) DVDs Rentals: Movies that are popular with our target
customers which includes people of all age groups.
Online Music And Video Contents
Music Accessories and Gadgets including MP3 Player, Neo
Pads and Ipods The company also offers high quality speakers and
headphones.
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PRICINGPRICING
We will adopt Competition Based Pricing as music retailing is
homogenous service that are standardized without special service
attributes.
Also Skimming Pricing Strategy for latest and least available
DVDs.
Price bundling
Premium pricing to the elite customers.
Special offers especially for the products
which are in least demand.
Discounts for the frequent customers.
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PRICING RANGEPRICING RANGE
Audio CDs (Hindi) Rs.99 to Rs.149 DVDs movies ( Hindi ) - Rs.49 to Rs.299
CDs (English) - Rs.199 to Rs.499
DVDs movies (English) - Rs.299 to Rs.1000
Rental for DVDs - Rs.50 per day (Hindi & English)
Apple iPods range - Rs.2700 to Rs.20000
All brands MP3 player - Rs.1999 to Rs.7999
Speaker - Rs.999 to Rs.19999
Headphones - Rs.699 to Rs.6999
Video contents ( Kiosk ) - Rs.20 to Rs.50
CD ROMs ( Blank ) - Rs.20 to Rs.75
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PROMOTION
1. Advertising
� Television� Cinema Houses
� Radio Stations
� Newspapers & Magazines
� Email Ads
2. Sales Promotions
� Premium and Gifts
� Trade fairs and Shows
� Exhibition and Demonstration
� Discount Coupons
3. Sponsorship (e.g. College Fest)
4. Word of Mouth
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PLACE
Location:
� Napean Sea Road, Grand Road(W), Mumbai-400006.
� Located near Priya Darshini Parkwhich is a popular joint for all age
groups.� No. colleges on Napean sea road,
e.g.Wilson and Bhavans colleg.
� Target customers: Students
Distribution Channel:
� There is no such distributionchannel but we are giving ourcustomers HOME DELIVERYservice with in an area of 5 kms.
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LOCATION MAP
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PEOPLE
YOYOMusic will have the following staff members:
� Manager- Rajashree Gaikwad
� Assistant manager- Vidya Hanchate
� Cashier: Snehal Ise
� Three Customer Assistants:
1. Faiz Sayed
2. Shilpa Ingle
3. Pratik Chaudhary
� 2 delivery boys
� A Watchman
� A House keeper
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PEOPLE
The right fit
of
employees
Trained &
motivated
Employees
Loyal
Customers
Sustaina
ble
Growth
RealProfit
Increase
Stock
Increase
Source: First, Break All The Rules Marcus Buchingham and Curt Coffman
Link Between
Employees and
Profit- The Gallup
Model describes the
path between the
individual
contribution of every
employee and the
ultimate result of increase in the
Company Value.
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PROCESS
All the Purchases, Inventory and Sales record are entered in a
software called RetailPro.
We have the data of all the inventories in this system, which helps us
and the customer to find out the availability of the needed items
instantly.
Two modes of Payments:
Cash: All the cash collections of the day are tallied with RetailPro
Credit card & Online Payment: All Credit card payments and online
payments are transferred to our Bank A/C.
Complaint handling process: Service recovery assessment will be
done on a per day basis to ensure better service quality.
Benchmarking: In order to have market leadership in the industry and
competitive advantages over others.
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PHYSICAL EVIDENCE
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PHYSICAL EVIDENCE
Physical Evidence: It includes,1. Essential Evidence: This includes all our products.
2. Peripheral Evidence: These are the items which enhance our
corporate image which includes stationery, brochure etc.
Physical Environment: It includes, ambience, space, décor andartifacts
1. The ambience and the interior of the retail shop is organized in
such a manner to attract all age group people.
2. Store is well spaced with 2000 sq feet.3. The stores display the product in a very organized way. We
have different sections for regional music, international as well as
for bollywood tracks.
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MARKETING STRATEGIES
The wide range of product offerings. Products can also beaccumulated in future dates when demand arises.
Every type of music (Classical, Religious, Bollywood etc.) under
one roof.
Target Audience involves people of all age groups.
Music released of movies and albums will be organized.
There are music playing ports where the customers can listen
to the music prior to the purchase.
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GROWTH STRATEGIES
YOYO music is planning to set up 10 outlets, 5 of them in
the metros, by the end of 2014.
Out of 10 outlets 5 outlets will be franchisee based rest will
be handled by YOYO music.
In tier 2 cities stores will be primarily located in malls.
Product line of YOYO music will be extended which will
Include gaming solutions and mobile retailing
YOYO music is expecting 10 % growth rate in annual
turnover for the first 4 year.
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OTHER STRATEGIES
Target Market Segment Strategy.
The student population that YOYO Music is targeting is very
comfortable with the newest technology and has easy access
to CD/DVD recording equipment.
Along with this YOYO music also targets Business class and
Leisure travellers
YOYO music enables the consumer to get all their favourite
music under one roof
Process of YOYO music is very efficient. Home Delivery
options is available . Customer can also order online for their
favourite track.
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CONTD«
All the service related issues would be handled with great
care and in the store itself, so that the customer need not go in
service centre especially for music gadgets. Our employees will
take care of this.
Yoyo music is an expert in offering fascinating music solutions
for ordinary people
Waiting time will be at minimal due to home delivery and
online order options.
Superior service quality at competitive price is YOYO musics
competitive advantage.
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THANK YOU