marketing mix
Assessment 1 part1
TASK 1
Identify the key characteristics of visual music products or services by gathering relevant information about the product and services of visual music from the case study and other resources that are applicable
A) You will need to provide a paragraph or brief explanation of the following characteristics of products or services below
Brand
The brand or branding of a product is the image of how a company is view among the general public, the brand is their identity in the market and what the consumer is aiming to associate itself with. Visual music is seen as a specialist in music and ‘cult’ movie DVDs Their aim is to be seen as a respected retailer within the industry and give their customers the reputation that they are ‘cool’ and current for using them. Their brand is also associated with supplying leading industry knowledge in the ‘cult’ segment of the music industry.
Brand loyalty
Brand loyalty is how a company keeps gaining return customers over a long period of time, by giving the potential consumer a value for money experience they become loyal to the product because they know they are getting what they pay for. Currently visual music has a customer satisfaction rate of 95%, this along with promotional programs such as VM club members they would gain and retain a large following of loyal customers.
Compatibility
Compatibility is how the product or service fits in or is compatible with the consumer and against similar companies in the industry. At the moment the industry is largely moving online more and more consumers are asking for online ordering and being able to view the products without coming in store. Visual music needs to provide this service to continue to be more compatible with the consumers demands at the moment visual music only have a telephone order system. Also another avenue for visual music to look into would be to expand their range into mainstream DVD’s, their consumer base has been
TASK 1
Identify the key characteristics of visual music products or services by gathering relevant information about the product and services of visual music from the case study and other resources that are applicable
A) You will need to provide a paragraph or brief explanation of the following characteristics of products or services below
Brand
The brand or branding of a product is the image of how a company is view among the general public, the brand is their identity in the market and what the consumer is aiming to associate itself with. Visual music is seen as a specialist in music and ‘cult’ movie DVDs Their aim is to be seen as a respected retailer within the industry and give their customers the reputation that they are ‘cool’ and current for using them. Their brand is also associated with supplying leading industry knowledge in the ‘cult’ segment of the music industry.
Brand loyalty
Brand loyalty is how a company keeps gaining return customers over a long period of time, by giving the potential consumer a value for money experience they become loyal to the product because they know they are getting what they pay for. Currently visual music has a customer satisfaction rate of 95%, this along with promotional programs such as VM club members they would gain and retain a large following of loyal customers.
Compatibility
Compatibility is how the product or service fits in or is compatible with the consumer and against similar companies in the industry. At the moment the industry is largely moving online more and more consumers are asking for online ordering and being able to view the products without coming in store. Visual music needs to provide this service to continue to be more compatible with the consumers demands at the moment visual music only have a telephone order system. Also another avenue for visual music to look into would be to expand their range into mainstream DVD’s, their consumer base has been