To Modify Marketing Strategies

Would modifyingHAC My Music's marketing strategy aid with its overall profitability?

The purpose of this research is to develop a proposal and carry out field research that will compromise of several components, which will help determine whether a shift in the focus's marketing strategy would have a direct or indirect impact to the business's overall profitability.

Part of this research, I will also be identifying current strengths, weaknesses, opportunities, as well as threats so that I can assess different issues with accurate and relevant information, which will be analyzed in a consistent manner. For instance, pricing in comparison with the current market, along with the marketing mix, product portfolio mix, and customer experience these aspects will be conducted throughout the research.

I have decided to acquire and classify two types of information, desk research, as well as field research. A series of documentation have been gathered from reliable internet sources, some articles, and quotes from various textbooks, which we will use as our "theoretical" resource for this research. I have also conducted several interviews with the proprietor, Mr. Thaer Farah, as well as interviews/surveys with various demographics of consumers of My Muzic's store in order to get information from different perspectives, which we will be using as our "practical" resources.

Although my intentions were to get as accurate as possible, I have to take into account the inevitable marginal errors, such as business season fluctuations, the accuracy of fixed and variable costs, and the external factors that may affect different views and opinions of consumers within the same demographics.

Action Plan:

August 28th, 2006: Gather background information from the Mr. Thaer Farah.

August 30th, 2006: Create a survey to place in My Muzic in order to attain information of how My Muzic can satisfy their wants.

September 2nd, 2006:

Interview walk-in customers.

Collect financial information such as fixed and variable costs.

September 13th, 2006: Collect surveys that have been distributed in My Muzic.

September 15th, 2006: First draft due.

September 26th, 2006: Final Draft due.

Introduction

My Muzic has been operating for approximately 4 months now, in Aleppo, Syria, with a company's mission to provide services in order to find what is in the best interest of their clients in a prompt and convenient manner. Although, this is minimal due to the fact, it is a new business and it has not identified what would satisfy their customers need to an optimum level. There is a language scarcity in Aleppo; most of the society here does not understand end English.., Mr. Thaer attempts to have the new movies of various genres in supply. When movies are first available to download they do not have subtitles therefore it is not meeting the demand for the segment of the market, lifestyle that My Muzic needs. My Muzic is a market oriented in which it has been facing difficulties to gain market share.

Research Question

How would modify My Music's marketing strategy aid with its overall profitability?

Procedure

I devoted the first week of my research and the time from the start of the investigation to the final draft to pursue background research. I visited websites to investigate and understand the application of marketing strategies and under what conditions to do so. This was done to help me approach my investigation in a beneficial manner. HAC

HAC I had interviewed Mr. Thaer Farah the proprietor of My Muzic. I was given general information about his products and what kind of materials being used, and the time consumption of getting a product ready to be sold. I was given total costs of production. Based on my research, I conducted a questionnaire that covers the name, age, favorite genre's, advantages and disadvantages of the business in the opinion of the customers. HAC

Thus, my final investigation sought out to investigate the different methods that could be used in order to improve based on the information given to me by the customers and the sole trader.HAC Then, with all the acquired data, I had decided to finalize the report.

Main Findings

My Muzic has been undergoing a phase of limited recognition by customers, which leads to a low sales revenue. Until now, My Muzic has been relying on the promotional technique of word-of-mouth, in order to gain recognition of the public. Mr. Thaer believes it is "vital to build a personal relationship with your customers in order to help them attain their wants successfully" this evidence suggests that he indisputably implements personal selling as his approach to marketing his products. Since, he believes it is the cheapest method in terms of the income revenue of his business.

Each blank DVD costs 35 s.p and HACeach blank CD costs 10 s.p those are the fixed costs of the capital goods. Downloading a movie and for it to be copied onto the DVD the process takes 2 days. To download a CD, the process takes a maximum of approximately 2 hours. The costs of production exclude the variable costs of the CD covers, which are cold in big quantities in addition to the amount of ink that is consumed during the process of printing the covers.

Each DVD has only one translated copy in the library, My Muzic's collection of DVD's