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BIM201508.Pdf (5.459Mb) - From Current Reality To Future Vision - - Bachelor Thesis - - A Thesis Presented For The Degree Of Bachelors In International Marketing - - Pace University - New York, United States of America 05.15.2015 Erle Aarstad Furqan Zahid Chishti Teodor Gellein Inger Helene Bjørnenak Jenssen Mina Teigland *This paper is done as a part of the undergraduate program at BI Norwegian Business School. This does not entail that BI Norwegian Business School has cleared the methods applied, the results presented, or the conclusions drawn. Table of Content 1.0 Client Assignments ........................................................................................................ 6 1.1 Original Client Assignment .................................................................................................. 6 1.2 New Client Assignment ......................................................................................................... 6 2.0 Situation Analysis .......................................................................................................... 7 2.1 Company Analysis .................................................................................................................. 7 2.1.1 Company History.......................................................................................................................... 7 2.1.2 Current operations ........................................................................................................................ 7 2.1.3 Company structure ....................................................................................................................... 8 2.1.4 Vision and Goal ............................................................................................................................ 9 2.1.5 Product and Service ..................................................................................................................... 9 2.1.6 TIDAL´s Competitive Advantages ...................................................................................... 10 2.1.7 Current Worldwide Sales ........................................................................................................ 14 2.1.8 Digital and social media analysis ......................................................................................... 15 2.1.9 Promotions ................................................................................................................................... 18 2.2 Industry Analysis ................................................................................................................. 20 2.2.1 The US Music Industry trend ................................................................................................ 22 2.2.2 PESTLE Analysis ...................................................................................................................... 24 2.2.3 Competitive Review ................................................................................................................. 28 2.2.4 Separating the Music Streaming Industry .......................................................................... 31 2.2.5 Future Competitors ................................................................................................................... 32 2.2.6 Product and Price analysis ...................................................................................................... 32 2.2.7 Distribution and Retail ............................................................................................................. 33 2.2.8 SWOT Analysis ......................................................................................................................... 33 2.2.9 Porter’s 5 forces ......................................................................................................................... 35 3.0 Research........................................................................................................................ 38 3.1 Qualitative research ............................................................................................................ 38 3.1.1 Primary research ........................................................................................................................ 38 3.1.2 Secondary Research .................................................................................................................. 41 3.2 Quantitative .......................................................................................................................... 42 2 3.3 Analysis and results ............................................................................................................. 44 3.4 Target Market Analysis ..................................................................................................... 50 3.4.1 Personification of the TIDAL prospects ............................................................................ 50 3.4.2 Analysis ........................................................................................................................................ 50 4.0 Positioning .................................................................................................................... 51 4.1 Current reality vs. Future vision ..................................................................................... 51 4.2 Recommended Position ...................................................................................................... 51 4.3 Positioning Tagline .............................................................................................................. 52 5.0 Market Activation ...................................................................................................... 54 5.1 TIDAL @ Festivals .............................................................................................................. 54 5.2 Intimate concerts for TIDAL users ................................................................................. 56 5.3 Competitive comparison billboards ................................................................................ 56 5.4 Push Notification .................................................................................................................. 57 5.5 Social Media .......................................................................................................................... 58 5.5.1 Twitter ........................................................................................................................................... 58 5.5.2 Facebook ...................................................................................................................................... 59 5.5.3 Instagram ...................................................................................................................................... 59 5.5.4 Snapchat ....................................................................................................................................... 60 5.6 Webpage................................................................................................................................. 60 5.7 Search Engine Optimization and Search Engine Marketing .................................... 60 6.0 Finance .......................................................................................................................... 61 6.1 P&L Statement ..................................................................................................................... 61 6.2 Budget ..................................................................................................................................... 62 7.0 Conclusion .................................................................................................................... 64 APPENDIX ......................................................................................................................... 65 3 Acknowledgement We would like to thank all the people that have been involved in our bachelor thesis on the different levels. We would love to thank the staff of TIDAL in Oslo, who has been very cooperative and given us the opportunity to write about TIDAL on our thesis, and providing us with information and help far above expectations. A special thanks to Mr. Are Thu, and Ms. Regine Borgen. Last, but not least we would like to pay our deepest appreciations to our advisor, Dr. Vishal Lala (Pace University). Dr. Lala has provided us with excellent guidance in order to complete this thesis. He has not only been our advisor, but also a mentor, providing us with challenges, enabling each and everyone in the team to develop our academic skills. 4 Executive Summary “Rich artists are getting richer”. According to the media, this is what everyone thinks of the new streaming service TIDAL, owned explicitly by big named artists such as Alicia Keys, Rihanna, Madonna, Calvin Harris, Jay Z and many more. But this is not what TIDAL want. We see TIDAL as a wave infiltrating the music industry, wiping out the old and not so fair payment structure, and making room for artists to get acknowledgement for their work. Throughout this paper we will explain to you who TIDAL is as a company and their present situation the way it is today. We will present TIDAL´s vision and goal, the music industry in general with a focus on their main competitors, Spotify and Pandora. You will get a deeper understanding of the research methodology, how we have derived upon a
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