Thomas Music

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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

Thomas Music

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