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Thomas MusicThomas MusicMKTG 1100 Marketing Management and Implementation
Retail Store Analysis
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GroupGroupMembersMembers
Heena Sharma s3316566
Jenny Macpherson s9704095Joe Looker s3336006
John J. Rios s3247080
Leonardo Jimenez s3314910Sarvagya Wahi s3320141
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StoreStore
BackgroundBackground
Music Since 1922
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Store
Store Backg
roundBackground
Thomas' Music started life as a music instruments shop,back in 1922
Relocated in 1994 to 31 Bourke Street current location
Stores building was originally built as the first StateSavings Bank of Victoria in 1902
Australiana Art Deco has been painstakingly restored
Sells CDs, DVDs and Blu-Ray discs with a particularinterest in Classical Music, Opera, Jazz and Ballet
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StoreStore
Curr
entOpe
rationCu
rrentOpe
ration
Unique Benefits
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L
ocation
L
ocation
Thomas Music isconveniently located
in the heart ofMelbournes CBD atthe Parliament Houseend of Bourke Street.
Address, 31 Bourke St
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Staff
Staff
Artistic Background
Friendly Knowledgeable
Experienced
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Online RetailOnline Retail
Browse Catalogue
Shop online
Contact Staff
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SegmentationSegmentation
Segmentation of Classical Music Consumers
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Educated Classical
Audience
Aspiring Classical
EnthusiastsCasual Listeners
Rare Young
Listeners
Demographics
- High % male- Mid 40s
- Retired- Household income over$75,000
- Early 40ys
- Have children at home- May be single, divorcedorwidowed
- Mid 40s, married &
employed wit
h childr
en at
home- Above averageeducation & income
- Late 30s-
Marr
ied wit
h childr
en at
home- Average education &above average income
Socio-
Economic
Most knowledgeable aboutclassical music of allsegments
Curious about classicalmusic
Not very knowledgeableabout classical music, nordo they wantto learnmore
Unsophisticated classicalmusic consumers
Psycho-graphic
Most inclined to subscribe &actively organize culturalactivities fortheir friends.
Always looking forcultural activities to doand aspire to a higherlevel of involvement withclassical music.
Mostly they loveBroadway musicals, buttheir interests do transferto the traditional artsdisciplines.
A very narrow but keeninterest in special holidayconcerts andfamily programs.
Behavioural
- High consumption levels ofall types of live classicalproduct- Very acquisitive about
cultural activities-They would go more oftenwith some price andconvenience inducements
Need to be convinced togo and identify numerous
decision factors of highimportance, including
convenience of parking,safety concerns, etc.
- Likely to be looking forarts and cultural activitiesto do on a regularbasis,and are organizers of
cultural outings- They're likely to selectprograms based on theartists and specific piecesto be performed
Ittakes a specialoccasion to getthem out.
Otherwise, they are morelikely to attend musicals,plays and jazz concerts.
Geographic - Live in well-to-do suburbs- Close to private schools andboutique stores
- Live in middle classsuburbs
- Live in rural areas oroutersuburbs and donthave access to liveprofessional classical
product
- Live in middle classsuburbs
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Target MarketTarget Market
Description
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Tar
get
Mar
ket
Tar
get
Mar
ket
Educated Classical Audience are the current targeted
market segment as they provide the mostopportunities in terms of store earnings andgrowth. The characteristics that make them the ideal
segments to target are described as follows;
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E
ducat
ed ClassicalA
udienceE
ducat
ed ClassicalA
udience 2005-06 ABS attendance rates state the 55-64 and 45-54 year age groups
have the highest attendance rates for classical music concerts with 13%and 12% respectively
Popular music concerts and classical music concerts were the events
most likely to attract multiple visits within a 12-month period (65% and 58%respectively)
Their above average income allows them to have a high consumptionlevel of many types of classical products
Being retired provides them with the time to look for information aboutcultural activities and subscribe to various cultural programs
Are regularly inviting friends to organised cultural activities
This audience are likely to have high quality stereo sound systems tofurther enhance the music listening experience.
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CompetitorsCompetitors
Comparison
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URL LocationFocus Music
Genre
ABC Shopwww.shop.abc.net.au
Sydney, NSWClassic, Contemporary,Country & Opera
Buywell
Classic Musicwww.buywell.com Canberra, ACT Classical & Jazz
Classic Directwww.classicsdirect.com
Sydney, NSW Classical, Pop & Jazz
Fish Fine Musicwww.fishfinemusic.com.au
Sydney, NSW Classical & Jazz
Wesley
Classics
www.wesleyclassics.com.au Perth, WA Classical
CompetitorsCompetitors
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PositioningPositioning
Strategy
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Perceptual MapPerceptual Map
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Future StrategiesFuture Strategies
Strategy and Marketing Mix
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F
ut
ur
eStr
at
egiesF
ut
ur
eStr
at
egies
Be the first ones to aggressively target the 'Rare
Young Listeners segment of the market
New strategies for the 'older age cohort'
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Recommendat
ionsRecommendat
ionsRecommendations for capturing younger audience
Music education in schools
Social Media & 'Connectedness Classical Music 'Ambassadors Alternative performance venues A UK program called Culturebank gives every school-
child entry to say 3 cultural events per year. Propose thesame to Commonwealth or state governments.
Discounted tickets for events Soften the traditional formal presentation of classical
music as it deters potential audience members
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Good Luck In The ExamGood Luck In The Exam
THANK YOU FOR YOUR ATTENTION
TIME 13:45:00 - 16:00:00DUWHEN 08 JUN 2011 WedTIME 13:45:00 - 16:00:00DU