Final PPT of Service MGNT

Service management
MUSIC RETAIL INDUSTRY
WHERE MUSIC IS PASSION
Roll no. Name

07 PRATIK CHAUDHARY
SUBMITTED TO:
08 FAIZ SAYED
PROF. RAJESH VYAS
09 RAJSHREE GAIKWAD
10 VIDYA HANCHATE
11 SHILPA INGLE
12 SNEHAL ISE
WHY SELECT MUSIC INDUSTRY???
 The Music Industry in the world is one of the fastest growing
segments 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 the
entry 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 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 by
a 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: 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
YOYO Music'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
SERVICE MARKETING
MIX
PRODUCTS
PRODUCT 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.
PRICING
 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 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 Park
which is a popular joint for all age
groups.
• No. colleges on Napean sea road, e.g.
Wilson and Bhavan’s colleg.
• Target customers: Students
Distribution Channel:
• There is no such distribution channel
but we are giving our customers
HOME DELIVERY service with in an
area of 5 kms.
LOCATION MAP
PEOPLE
YOYO Music 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
Link Between PEOPLE Stock
Employees and
Increase
Profit- The Gallup Real
Model describes the Profit
path between the Increase
individual
contribution of every Sustaina
employee and the ble
ultimate result of Growth
increase in the
Company Value.
Loyal
Customers
Trained &
motivated
Employees
The right fit
of
employees
Source: First, Break All The Rules –Marcus Buchingham and Curt Coffman
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 and

artifacts
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 be

accumulated 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.
CONTD…
 Always there would be surprise gifts and goodies with the
purchase, to encourage our customers.
 Increase affiliation with top production houses in the market.
 Discounts and Value Added Services: This combination would

offers the customer a very good shopping option.
 Availability of DVDs and VCDs in 5 different Indian languages

(will also increase options in upcoming time)
 Tardily increase our printing and television ads.

SALES STRATEGIES
 Sales force will be offered incentive for achieving target. It

will be on monthly basis.
 Multiple product purchase will be pushed by giving huge

discount on one product to get sale of another product.
 Loyalty programmes will be offered for repeat 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 music’s

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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Service management

MUSIC RETAIL INDUSTRY

WHERE MUSIC IS PASSION

Roll no. Name

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

 Finally, we have selected this topic to explore music retail

 YOYO Music offers popular new CDs, DVD rentals and

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

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

 Also Skimming Pricing Strategy for latest and least available

 Premium pricing to the elite customers.

 Special offers especially for the products

 Discounts for the frequent customers.

YOYO Music will have the following staff members:

 Two modes of Payments:

 Complaint handling process: Service recovery assessment will be done

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

 Physical Evidence: It includes,

 Physical Environment: It includes, ambience, space, décor and

 The wide range of product offerings. Products can also be

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

 Target Audience involves people of all age groups.

 Music released of movies and albums will be organized.

 Increase affiliation with top production houses in the market.

 Discounts and Value Added Services: This combination would

 Availability of DVDs and VCDs in 5 different Indian languages

 Tardily increase our printing and television ads.

 Sales force will be offered incentive for achieving target. It

 Multiple product purchase will be pushed by giving huge

 Loyalty programmes will be offered for repeat purchase.

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

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

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

 Product line of YOYO music will be extended which will

 YOYO music is expecting 10 % growth rate in annual

 The student population that YOYO Music is targeting is very

 YOYO music enables the consumer to get all their favourite

 Process of YOYO music is very efficient. Home Delivery

 Yoyo music is an expert in offering fascinating music solutions

 Waiting time will be at minimal due to home delivery and

 Superior service quality at competitive price is YOYO music’s

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