Question

Topic: Student Questions

How Can We Increase Cd Singles Sales Again After The Recent Slump? (in Terms Of Marketing)

Posted by Anonymous on 50 Points
I'm aiming to suggest some possible strategies for HMV to adopt to increase their sales as part of my Business Studies coursework. Any help would be greatly appreciated. Jenna
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RESPONSES

  • Posted by Blaine Wilkerson on Accepted
    Several sites (inclding musicians and their producers) are already implementing legal downloads of singles at an affordable price.

    Like Amana said...way pay $7-$8 for one song when $12-$15 get me the whole CD? Not to mention the song is posted for free on a gazillion websites?

    I really don't think it will get back into the in-line stores. The cost of production is too expensive to beat the price of a download...either an illegal free one, or an affordable legal one.

    Check around record company and popular band sites for more info. Also check out Coca-Cola, Blockbuster, and Disney.

    Good Luck!
  • Posted on Accepted
    Being a passionate supporter of music most of my life, I have thought of this question for some time now.
    One clear idea comes to mind when thinking about increasing CD sales in music stores- DIFFERENTIATION.
    In my opinion, CD's should look at what unique sellling proposition they currently offer or can create that is not offered by downloading music off the internet.

    Maybe its subtle things like more information and interesting facts within the CD booklets, autographs in the CD booklets from bandmembers, or points people collect when they purchace a CD to put towards Ticket Master for discounted concert tickets.

    I think in the dire situation the CD stores seem to be in, or say they are in- the answer is to think about differentiation. I am sure a tonne of other ideas will spring up when they start thinking this way.

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