Conduct a SWOT analysis: Identify at least 5 Strengths, Weaknesses, Opportunities and Threats?
Network- digital marketing in the music industry
In this research, the researcher has studied various aspects of Nettwerk that how it has made a good position in the digital market of Music industry. Nettwerk integrated with new resources to make it a dependent company in the music industry. The chains have reflected the industry to new scales as it forms a global territory in the music world. The CEO of Nettwerk, Terry McBride made great enumeration to make their fans numerate on their own terms. However, the CEO made great efforts in making remixes of his artist’s video and songs that have a good reflection among the audience. Hence, the purpose of the research is to identify areas that make a greater reflection of Nettwerk to hold good on music industry.
The idea in this research has a great reflection to Music industry that how it has evaluated its mean position to hold an excellent name. Nettwerk has aroused in the global market to become aspiring on media support and artist’s success. It was seen in the beginning that Nettwerk was an independent publisher, music label and a management firm. In the year 2009, the founder Terry McBride joined with Brian Message to make a good idea in this industry. An initial response was asserted on entertainment products that made portfolios very small and erratic. It was seen that major music companies like Universal Music Group, Warner Music Group, and Sony Music Entertainment made a great revival in the Music industry. On the major outlets, the products was a little challenging that resulted on an increasing note which however moved to “big box” stores like Walmart, Target and Buy. The contract was performed on the proposition scale that made dependent costs initiated with good response. It ranged a capital of around 6% to 18%. Globally, Nettwerk found an aspiring area that made Ad placement, cause-related marketing, promotion, and Niche marketing to hold opportunities and threats higher. Hence, a balanced area has reflected good to make music on mastering services on music distribution, marketing and promotion to be Polyphonic.
Core problems and opportunities
A traditional venture was seen in the hands of people to share common interests of Nettwerk in the music industry. The core problems and opportunities are:
- Balanced idea was not moderated among major artists and investors
- Competition was little less among creative products and agreement was negotiated unevenly
- Performance royalties was divided equally among membership, publishers and songwriters but synchronization was not incorporated.
- Nettwerk responded to a great digital transformation
- To make the goal specific in the market that would make investment policies even
- Promotional activities have sustained a good impact in advertising and online media
To study various areas of Nettwerk, it has made a feedback on studying various strengths, weaknesses, opportunities and thereat of the company. There are ideas that make Nettwerk successful through major objectives and goals that are:
Specializing in holding good on market expertise
Producing innovative products and services
Change value in business
Making Music industry even
Lack of market expertise
Unsatisfied services in music components
New competitor in home market
Innovative products among competitors
Competition have superior access
Developing market with internet facilities
Mergers and joint ventures to form strategic alliance
Greater involvement of music companies
Moving into new markets for improved gains
Effective market competition
Rise of international market
Greatest risk and greatest benefit for the company
The greater risk evolved on the company is that it aroused as an independent music label as well as a publisher, but it could not sustain a good hold on the major industries. The benefits that the company got are:
- The music industry comprised an alliance between business and arts.
- A treaty was seen further that each time when a song was performed live or was broadcasted, it had to be paid by the copyholders.
The researcher has sustained a position that would help to make business through a venture of making company’s project “Polyphonic”. It would amend the music through a definite idea of seeking major interests. However, it would make music through independent positions in improving market through greater possibilities and developments.
In this research, the researcher has made various ideas of Nettwerk to form an integral idea through various methods to make their Music Company independent. The researcher has also established a core idea to make the synopsis of Nettwerk through good opportunities. Through a greater risk factor, the researcher has evaluated SWOT analysis and to look forward that how greater risk and benefit for the company would rise high.