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Write You - CCM Music Recording Company Case Study Part 1 - Company Overview
The business world has seen many successful and loyal partnerships, yet few have been as enduring through difficult times as the partnership between Kmart and Martha Stewart.The relationship started more than a decade ago when then CEO Ben Fauber signed the relatively unknown former model to design a line of home fashions for Kmart. Soon Fauber would exit and Joe Antonini would further expand the product line, making Martha Stewart one of the most well-known names in households across the nation. Martha's talent and steadfastness landed television and print media deals that catapulted her career.Although the partnership seemed unshakable, conflict arrived when the two partners began to argue over royalty calculations. It was 2000 and Kmart's financial problems, even though the cash flow trouble was denied by Kmart, caused Kmart to seek a more favorable calculation of the percentages and when they were paid. The move caused many inside the steel and glass palace in Troy to wonder if Martha would jump ship for Sears, Kohls, Federated, or Penney. Martha stuck with Kmart even though the payment problems continued, even under the new deal.Then came the normal partnership breaker, Kmart filed
Internet is not only alternative way to traditional methods of music distribution, but also a great opportunity for artists and music-recording companies to expose these products to broad public. The advantages of such means are low cost of entrance and enormous size of potential customers market. Traditional chain of music distribution i
Why work for someone else and commute to an office daily when you can establish you very own business right in the comforts of your home? This would mean flexible hours for working, lesser expense on traveling to and from work and no boss to nag you everyday.Imagine person “A” working as a sales employee of Company XYZ. Person “A” works up to the wee hours of the morning just so he can sell advertisement space worth at least a million for the smallest size. When the sale goes through, he gets $20 worth of commission. Person “A” here enriches Company XYZ through his efforts but he only gets his base pay plus the $20 rcommission---all that for the millions of pesos he brings in to Company XYZ’s coffers.If Person “A” devises a way to establish a home based business similar to what he is doing now for Company XYZ, getting his old clients and building up their list, then perhaps he will have more to take home each month than if he remains working for Company XYZ.If you are still unsure about your business prospects but are raring to start a home based business, you can do it on a part time basis. This means you will start your home based venture but still hold your eight to five job fo
CCM, Colorado Creative Music, is music recording studio, founded in 1995 by Darren Curtis Skanson, primarily established as vanity label for producing, promoting and selling his own records, and consequently developed into microlabel with 4 product lines and 11 different albums. In 2000, the company sold 30,000 of Darren Curtis Skanson CDs and received net profit of $4,292.00. The company aims at expanding its customer base, acquire more popularity, and develop the company from microlabel to the independent one.
Vision/objectives
The business vision of Colorado Creative Music consists of three components - Core Value, Core Purpose and Visionary Goals (Thompson, Strickland, 2003).
Core values of CCM are quality, creativity, and excellent customer service. The core purpose of this organization is to make more people listen to classical and light acoustic music and admire it. As for the visionary goals, the strategic dilemma of the business arises. Thus, one of the visionary goal is to make the music produced, played and recorded by CCM musicians, heard by larger audience. The other visionary goal that doesn't completely go in line with the first one is to win the large custom market for the company's products and services. The collision here is in the primary value and target of the business: in the first case the attention is attached to the product, music, while the second one is focused on the development of the organization. This dilemma is the subject of strategic choice of the organization, which will be outlined and discussed later.
At the present moment, the main objectives of the company are: positioning the business against its rivals, development of distribution channels, development of the products and enhancement of the product line, anticipating changes in demand and adjusting the firm's strategy to respond to them.
Operating environment
The firm operates on American market which is characterized by political and economical stability, technical advancements in producing and distribution processes, large number of potential customers, broad demand and intense competition.
Business model
Business model is the mechanism for the company to generate the revenues and profits. It includes strategy and implementation thereof and should answer such questions as how the firm selects its customers, how it differentiates its products from those or rivals, how it creates utility for the customers, how it acquires and preserves them, promotion and distribution strategies, how it allocates its resources and derives profit. As for promotion and distribution techniques for Colorado Creative Music, the particular attention is attached to Internet aspect of the distribution and its capabilities.
Internet is not only alternative way to traditional methods of music distribution, but also a great opportunity for artists and music-recording companies to expose these products to broad public. The advantages of such means are low cost of entrance and enormous size of potential customers market. Traditional chain of music distribution in
Women entrepreneurs make up one of the fastest growing sectors of the business world today and there are as many expressions of entrepreneurialism as there are the kinds of women who choose this route; however, whether your idea of being an entrepreneur means running your own part time consulting business out of your house where you employ 1 or 2 other people or you are running a multi-million dollar company and manage hundreds of employees, the 7 keys to success remain the same.What follows are the 8 key success principals that will allow you to take your business to the next level:1. Dream BigDo not limit your dream. Make it big and spend your time identifying the steps to get there. There is no limit to what you can achieve when you set your intention and keep moving every single day toward your goal.2. Create a Vision StatementWhat do you want to achieve? How would you like your ideal day to look? How do you want to feel? Write it out. Be as detailed as possible and create a picture that you carry with you every day. Keep your vision statement accessible and read it every day. You will achieve what you put your focus, energy and attention on.
Core values of CCM are quality, creativity, and excellent customer service. The core purpose of this organization is to make more people listen to classical and light acoustic music and admire it. As for the visionary goals, the strategic dilemma of the business arises. Thus, one of the visionary goal is to make the music produced, played and recorded by CCM musicians, heard by larger audience. The other visionary goal that doesn't completely go in line with the first one is to win the large custom market for the company's products and services. The collision here is in the primary value and target of the business: in the first case the attention is attached to the product, music, while the second one is focused on the development of the organization. This dilemma is the subject of strategic choice of the organization, which will be outlined and discussed later.
At the present moment, the main objectives of the company are: positioning the business against its rivals, development of distribution channels, development of the products and enhancement of the product line, anticipating changes in demand and adjusting the firm's strategy to respond to them.
Operating environment
The firm operates on American market which is characterized by political and economical stability, technical advancements in producing and distribution processes, large number of potential customers, broad demand and intense competition.
Business model
Business model is the mechanism for the company to generate the revenues and profits. It includes strategy and implementation thereof and should answer such questions as how the firm selects its customers, how it differentiates its products from those or rivals, how it creates utility for the customers, how it acquires and preserves them, promotion and distribution strategies, how it allocates its resources and derives profit. As for promotion and distribution techniques for Colorado Creative Music, the particular attention is attached to Internet aspect of the distribution and its capabilities.
Internet is not only alternative way to traditional methods of music distribution, but also a great opportunity for artists and music-recording companies to expose these products to broad public. The advantages of such means are low cost of entrance and enormous size of potential customers market. Traditional chain of music distribution i
Managing cash flow can be a challenge for many businesses. But creative funding options like invoice factoring and purchase order (PO) financing can make the job much easier.These financial solutions offer convenient, cost-effective and immediate access to working capital. Invoice factoring and purchase order financing are suitable for companies in just about any industry. They can provide financial support to expand, manage business surges or even meet day-to-day operating expenses. And they're ideal if your company is newer and can't obtain a loan.The Ins and Outs of Invoice FactoringInvoice factoring is easy to set up and terminate. To qualify, you should have no existing primary liens or claims on your accounts receivable. And you must have creditworthy clients who pay their invoices promptly and in full.When factoring customer invoices, you can receive quick cash advances often within 24 hours. Your cash advance is based on the overall value of the invoices you provide as collateral. Typically, you can get 80 percent of the invoice value upfront and the remaining value after your client pays the invoice minus a three to five percent factoring fee.Your customers pay the
At the present moment, the main objectives of the company are: positioning the business against its rivals, development of distribution channels, development of the products and enhancement of the product line, anticipating changes in demand and adjusting the firm's strategy to respond to them.
Operating environment
The firm operates on American market which is characterized by political and economical stability, technical advancements in producing and distribution processes, large number of potential customers, broad demand and intense competition.
Business model
Business model is the mechanism for the company to generate the revenues and profits. It includes strategy and implementation thereof and should answer such questions as how the firm selects its customers, how it differentiates its products from those or rivals, how it creates utility for the customers, how it acquires and preserves them, promotion and distribution strategies, how it allocates its resources and derives profit. As for promotion and distribution techniques for Colorado Creative Music, the particular attention is attached to Internet aspect of the distribution and its capabilities.
Internet is not only alternative way to traditional methods of music distribution, but also a great opportunity for artists and music-recording companies to expose these products to broad public. The advantages of such means are low cost of entrance and enormous size of potential customers market. Traditional chain of music distribution i
For most law students, networking with law firms is the best way to find a great internship. In large cities and small towns, the legal community is close knit and many times, it is who you know, not what you know. The more people you meet with, the better your chances of building your professional network, and finding a great intern position. Networking is best started with one’s own friends and acquaintances. You can gradually branch out to network with your friends’ friends, colleagues, and members of the legal profession, as well as others in the business community that can further your efforts.Do not be shy about contracting people of the legal profession who are not known to you. Concentrate on lawyers who are active in your field of interest. Make a list of potential law firms and seek appointments to set up interviews. You can make it clear that you are not looking for a job or internship, but seeking their advice and suggestions on your common field of interest. In the process of meeting them, if they do have an opening for an intern, they may consider you. However, your primary concern at this time is to increase your networking. Think of it as personal marketing that will serve you well you
Operating environment
The firm operates on American market which is characterized by political and economical stability, technical advancements in producing and distribution processes, large number of potential customers, broad demand and intense competition.
Business model
Business model is the mechanism for the company to generate the revenues and profits. It includes strategy and implementation thereof and should answer such questions as how the firm selects its customers, how it differentiates its products from those or rivals, how it creates utility for the customers, how it acquires and preserves them, promotion and distribution strategies, how it allocates its resources and derives profit. As for promotion and distribution techniques for Colorado Creative Music, the particular attention is attached to Internet aspect of the distribution and its capabilities.
Internet is not only alternative way to traditional methods of music distribution, but also a great opportunity for artists and music-recording companies to expose these products to broad public. The advantages of such means are low cost of entrance and enormous size of potential customers market. Traditional chain of music distribution i
How Do You Brand Your Business?1. Be ConsistentWhat ever you do be consistent. Nothing irritates a visitor as much as inconsistency. Think about when you visit a site like Amazon.com. You know what they offer, where to find, and where to ask a question if you need to. Change is good however changing is hard. Give your visitors advanced notice of a change and clear instructions on how to buy or use the new tool or item.2. Find a Niche Find a Niche to cater to. Be consistent with it and focus on pleasing and meeting their needs. When the latest knitting pattern comes out from the top designer YOU need to be the first to turn to for up to date details. Get the information to your visitors ASAP.3. Create a Slogan________, It Does A Body Good! Do you know what that slogan is talking about? Of course you do. Milk has taken a slogan and branded it so that now when we hear that phrase there is no question in our minds what it is referring to. Find a slogan to match you and your product or service. It can be one you make up or one you borrow from the great masters that have gone before us. For instance, a certain homeschooling group quotes Albert Einstei
Internet is not only alternative way to traditional methods of music distribution, but also a great opportunity for artists and music-recording companies to expose these products to broad public. The advantages of such means are low cost of entrance and enormous size of potential customers market. Traditional chain of music distribution includes such components as writer/performer, publisher, musical instruments company, live performances, venue equipment and services, recording, studio equipment and services, recorded performances such as night clubs, bars, business music, broadcast, film and music videos, and retail. These are traditional stages through which the song or other musical product must pass to get to the final customer. Internet makes this chain of distribution shorter and simpler, and therefore internet-based promotion, advertisement and distribution can be considered a new business model to base the business on. Further information on virtual distribution will be discussed in relevant section.
CCM business model includes following components:
Value Proposition: satisfaction of customers' needs in quality classic music;
Market Segment: white females (predominantly) and males of 40-60 age range. The market segment needs to be further expanded.
Value Chain Structure: structure of the firm to be described below
Revenue generation: through sales, direct sales in particular; revenue generation roots need to be expanded.
Position in the value network: enters the most specialized industry segment. A large number of competitors from all 4 segments of the industry; business may be complemented through alliance with larger recording company.
Competitive strategy: company's strategy primarily focused on differentiation rather than cost leadership strategy, through internet distribution allows making the products of CCM cheaper than those of competitors.
Market segmentation, targeting, positioning
The music recording industry has 4 clearly identifiable segments: major recording studios, independent labels, micro-labels and vanity labels. Major companies have large quantities of artists under contracts, reaching the number of 100, specialize on multiple types of music - rock, country, jazz, classical, traditional and other, and have formal and reliable national and international channels of distribution. Independent labels have 10-100 artists under contract, focus on recording of one or two major music styles and have either national or most often regional distribution channels.
Micro-labels have less then 10 artists under contract and are tightly focused on definite style of music. They are characterized by small staff and manager performing as the leading artist of the studio. Micro-labels have rarely formal distribution system and heavily rely on direct sales to fans and whole
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