Business Studies Case Study on a Music Industry (With Diagrams) Essay

benne, a class 9 boy who excelled in the art of apprisal wanted to make use of his elevated talent and raise money for his forthcoming education. He set up a small time business with 2 of his friends to raise money, as he was very poor. One of his friends Sam influenced to deal accounts as he was skilled at Maths and had a good discretion of what price to set. Another of his friends Josh was in charge of building personal dealing with some consumers to enhance sales as he had excellent persuasions and people skills. both three of them thought about divers(prenominal) marketing strategies. They conducted research and found* This was a gap in the market as there are fewer expert child singers going public* most of the people in their class were willing to buy the CD at a reasonable price, his juniors and seniors were also willing to buy,* in that respect would be an excitement about the phonograph album only for he first few weeks as the three of them had built wide hyp e for the launch of the event,* Knowing benny personally helped as people knew that they could cuss and comment on his album, give awaying the album anywhere else would not earn enough.* They would get to add a lot more(prenominal) value to the album like adding a live video of Benny apprisal and dancing and a virtually DJ mixed song.They calculated the speak to of devising one CD* They had to pay a calendar monthly rent of Rs 10,000 for the recording studio apartment apartment for one month but due(p) to lack of funds the owner of studio allowed them to pay 50% by and by 4 months* Printing the c over page of the CD- 5 Rupees* Cost of empty CD 15 Rupees* Cover of the CD 10 Rupees* opposite Rs. cholecalciferol0 per monthThey did not think that they could do all the work themselves and hence utilize 20 members of their class and promised to pay them degree centigrade Rupees if they managed to lead astray 20 CDs each per month. They worked under the sales department.T he album was launched in January and Sam discrete to sell each CD for a cost of 99 Rupees. The first month the 3 of them sell only in their shallow and to their close friends and were able to sell 500 CDs in interchange while another 250 were sold in credit.The next month the 3 of them decide to go outside school after taking customer feedback through questionnaires, interviews and observations and up(p) the mistakes they made in the album. Then they decided to market the CD throughout Mumbai and were promoted and sponsored by Planet M, as Planet M is a well known medication shop which charged 10000 per month for advertising. Every week on a Saturday, which is statistically Planet Ms day with the most footfalls, a surplus promotion took place where Benny sang live in the store. Planet M also advertised this in the turn Stones Magazine and newspaper.Benny became an instant come upon and at the end of the year they sold 1000 CDs per month in cash and 500 CDs in credit that was to be paid by the next month. flat Benny and his friends have decided to sell the rights of the album to Tips Industry limited for 500,000 so that they could sell whole over India. They took this graduation as there board exams were sexual climax but as per the contract Benny has to perform about 1 distributor point show per month all over India and gets 10,000 Rupees for doing so.