final ppt of service mgnt

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WHY SELECT MUSIC INDUSTRY???WHY SELECT MUSIC INDUSTRY???

The Music Industry in the world is one of the fastest growingsegments of the world economy.

The total revenue from the music and movies and the related

products have crossed $350 bn with a very impressive growth.

In India prior to the entry of the organized music retailers, the

music and the related products were sold through the

unorganized small shops and the distribution channels of the

production houses. But the scene has change drastically with theentry of new players into the market.

Finally, we have selected this topic to explore music retail

industry and share the information with the class.



MUSIC RETAIL INDUSTRYMUSIC RETAIL INDUSTRY

The music industry across the globe can broadly be divided into

three segments:

Creation

Marketing and

Distribution

Music artists create music, which is marketed and distributed bya network of record labels, distributors, retailers, broadcasters and

DJs/clubs.

Labels (record companies) play an important role in all three

stages by providing capital and the marketing know-how to create,

promote and distribute music. In the music industry we as entrepreneurs would like to bring in

a revolutionary experience for all the music lovers through

introducing YOYO MUSIC



COMPANY PROFILE:COMPANY PROFILE: YOYO MUSIC

The YOYO Music stores are mainly known for selling music

and movies and related accessories.

YOYO Music offers popular new CDs, DVD rentals and

CD/DVD recording media.

The start-up cost of YOYO Music will consist primarily of

shop deposit, rent along with the inventory and display

equipments. Investment would be of Rs.2,50,00,000.



YOYO MUSIC

Objectives

To become the first choice of our target customers.

To create a strong DVD rental business.

To increase blank media sales by 20% each year.

Mission

YOYOMusic's mission is to offer our target customers:

The best quality popular CDs, VCDs and DVDs at affordable

prices.

The best recording media at lowest prices.

A large selection of DVD rentals.



COMPETITORS ANALYSIS



ONLINE COMPETITORS



SERVICESERVICE MARKETINGMARKETING

MIXMIX



PRODUCTS



PRODUCT OR SERVICE DESCRIPTIONPRODUCT OR SERVICE DESCRIPTION

The primary focus is to satisfy the music needs of the target

customers. Yoyo Music offers various products which are:

New CDs

DVDs and VCDs: Every type of music/movies (Classical,

Religious, Bollywood, Hollywood etc) DVDs Rentals: Movies that are popular with our target

customers which includes people of all age groups.

Online Music And Video Contents

Music Accessories and Gadgets including MP3 Player, Neo

Pads and Ipods The company also offers high quality speakers and

headphones.



PRICINGPRICING

We will adopt Competition Based Pricing as music retailing is

homogenous service that are standardized without special service

attributes.

Also Skimming Pricing Strategy for latest and least available

DVDs.

Price bundling

Premium pricing to the elite customers.

Special offers especially for the products

which are in least demand.

Discounts for the frequent customers.



PRICING RANGEPRICING RANGE

Audio CDs (Hindi) Rs.99 to Rs.149 DVDs movies ( Hindi ) - Rs.49 to Rs.299

CDs (English) - Rs.199 to Rs.499

DVDs movies (English) - Rs.299 to Rs.1000

Rental for DVDs - Rs.50 per day (Hindi & English)

Apple iPods range - Rs.2700 to Rs.20000

All brands MP3 player - Rs.1999 to Rs.7999

Speaker - Rs.999 to Rs.19999

Headphones - Rs.699 to Rs.6999

Video contents ( Kiosk ) - Rs.20 to Rs.50

CD ROMs ( Blank ) - Rs.20 to Rs.75



PROMOTION

1. Advertising

� Television� Cinema Houses

� Radio Stations

� Newspapers & Magazines

� Email Ads

2. Sales Promotions

� Premium and Gifts

� Trade fairs and Shows

� Exhibition and Demonstration

� Discount Coupons

3. Sponsorship (e.g. College Fest)

4. Word of Mouth



PLACE

Location:

� Napean Sea Road, Grand Road(W), Mumbai-400006.

� Located near Priya Darshini Parkwhich is a popular joint for all age

groups.� No. colleges on Napean sea road,

e.g.Wilson and Bhavans colleg.

� Target customers: Students

Distribution Channel:

� There is no such distributionchannel but we are giving ourcustomers HOME DELIVERYservice with in an area of 5 kms.



LOCATION MAP



PEOPLE

YOYOMusic will have the following staff members:

� Manager- Rajashree Gaikwad

� Assistant manager- Vidya Hanchate

� Cashier: Snehal Ise

� Three Customer Assistants:

1. Faiz Sayed

2. Shilpa Ingle

3. Pratik Chaudhary

� 2 delivery boys

� A Watchman

� A House keeper



PEOPLE

The right fit

of

employees

Trained &

motivated

Employees

Loyal

Customers

Sustaina

ble

Growth

RealProfit

Increase

Stock

Increase

Source: First, Break All The Rules Marcus Buchingham and Curt Coffman

Link Between

Employees and

Profit- The Gallup

Model describes the

path between the

individual

contribution of every

employee and the

ultimate result of increase in the

Company Value.



PROCESS

All the Purchases, Inventory and Sales record are entered in a

software called RetailPro.

We have the data of all the inventories in this system, which helps us

and the customer to find out the availability of the needed items

instantly.

Two modes of Payments:

Cash: All the cash collections of the day are tallied with RetailPro

Credit card & Online Payment: All Credit card payments and online

payments are transferred to our Bank A/C.

Complaint handling process: Service recovery assessment will be

done on a per day basis to ensure better service quality.

Benchmarking: In order to have market leadership in the industry and

competitive advantages over others.



PHYSICAL EVIDENCE



PHYSICAL EVIDENCE

Physical Evidence: It includes,1. Essential Evidence: This includes all our products.

2. Peripheral Evidence: These are the items which enhance our

corporate image which includes stationery, brochure etc.

Physical Environment: It includes, ambience, space, décor andartifacts

1. The ambience and the interior of the retail shop is organized in

such a manner to attract all age group people.

2. Store is well spaced with 2000 sq feet.3. The stores display the product in a very organized way. We

have different sections for regional music, international as well as

for bollywood tracks.



MARKETING STRATEGIES

The wide range of product offerings. Products can also beaccumulated in future dates when demand arises.

Every type of music (Classical, Religious, Bollywood etc.) under

one roof.

Target Audience involves people of all age groups.

Music released of movies and albums will be organized.

There are music playing ports where the customers can listen

to the music prior to the purchase.



GROWTH STRATEGIES

YOYO music is planning to set up 10 outlets, 5 of them in

the metros, by the end of 2014.

Out of 10 outlets 5 outlets will be franchisee based rest will

be handled by YOYO music.

In tier 2 cities stores will be primarily located in malls.

Product line of YOYO music will be extended which will

Include gaming solutions and mobile retailing

YOYO music is expecting 10 % growth rate in annual

turnover for the first 4 year.



OTHER STRATEGIES

Target Market Segment Strategy.

The student population that YOYO Music is targeting is very

comfortable with the newest technology and has easy access

to CD/DVD recording equipment.

Along with this YOYO music also targets Business class and

Leisure travellers

YOYO music enables the consumer to get all their favourite

music under one roof

Process of YOYO music is very efficient. Home Delivery

options is available . Customer can also order online for their

favourite track.



CONTD«

All the service related issues would be handled with great

care and in the store itself, so that the customer need not go in

service centre especially for music gadgets. Our employees will

take care of this.

Yoyo music is an expert in offering fascinating music solutions

for ordinary people

Waiting time will be at minimal due to home delivery and

online order options.

Superior service quality at competitive price is YOYO musics

competitive advantage.



THANK YOU



Final SLIDE DISTRIBUTION

2 TO 5 PRATIK

6 TO 9 SNEHAL

10- 12 SHILPA

13 TO 15 RAJSHREE

16 TO 19 VIDYA

20 TO 23 FAIZ

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