MTV operates in a highly concentrated near-monopoly market where fixed costs are low and hence intensity of rivalry is reduced. MTV also faces little supplier power from numerous non-unique musical groups. Even “competitor” music channels such as CMT (Country Music Television) are wholly-owned by MTV. The networks, in contrast, face the much greater supplier power of the NFL, NBA and Professional Baseball. MTV has few substitutes whereas the networks now face 150 channels of…
Strategic management is the process by which the management team determines a firm’s goals. It is achieved by examining internal and external strengths, weaknesses, threats and opportunities.…
According to Alan Light, “What MTV did was for the first time give one big central outlet for music, and so rather than having to go radio station to radio station, there was one big hit that became the primary outlet for new music and new bands.” It completely changed the pace of the music industry. Indeed it has brought to light the significance of looks, style, and moves, but it also has endorsed appearance over substance. It became all about the image an artist represented in three minutes and seemed to turn the music business into a marketing…
Did you know that MTV's original slogan used in 1981 was, “ You’ll never look at music the same way again”? People were so astonished that music videos could be played on TV 24 hours, 7 days a week. MTV’s purpose was to help promote musicians’ albums. Musicians were being made celebrities over night after their videos being aired on MTV. MTV forever changed the way music and musicians reached their audiences.…
Strategic management process is defined as an organized way to perform calculated planning in the organization through initial measurement, systematic examination, strategy formulation, its realization and estimation. It also means a method by which managers choose a set of strategies for the business that will allow the method to accomplish better performance.…
The strategic management process definition is actually the organizations strategy to do better business. It is also defined as the process on how managers set strategies for an organization or company that will enable to perform better for the organization. Strategic Management helps industries and businesses have a better outcome at the end, in whatever it is the organization does. Every business wants to be successful and be at the top strategic management helps an organization get there. Strategic Management also appraises its competitors and fixes goals to meet and do better than all present and future competitors. Strategic Management is made up of four steps which are; Environmental Scanning, Strategy Formulation, Strategy Implementation, and Strategy Evaluation.…
The MTV brand started out with a focus on the music where it helped to launch the visual impact of bands through music videos. MTV is a youth oriented brand, that started as a purely music video station, and has now involved into a pop-culture station with a mix of long-form programming, and videos. They created stars and termed new expressions like VJs and quickly differentiated their product from the competition. As a result of having a first-mover advantage they were the TV channel to go to in order to endorse your music. They managed to build up their brand and be a key channel for promotion where artists where demanding to have their own videos played on MTV. MTV remains a strong brand within the youth segment but needs to constantly evolve in order to maintain their position with new trends and changes emerging. The brand associations are strong since they are attached to a certain target-group (youths) that is very desirable to reach for many advertisers. The adolescence and early adulthood that MTV reaches are important for establishing enduring preferences for a specific type of brand that might follow a person throughout his life. Viewed as very “hip and now” many teens look to the channel to see what is popular and what the up and coming trends of today are. MTV has very strong brand attributes, with its viewers and even with people that do not view the channel as one they would frequently watch, therefore giving the brand strong brand associations. MTV has core values of staying on top of music and cultural trends, as a result ensuring their continued growth of their audience; MTV needs to stay relevant to stay on top.…
Strategic management involves all basic management functions like planning, organizing, leading, controlling, and all of these areas are illustrated by this case story. Strategic management is illustrated in this case story when Mr. Ortega opened his first Zara clothing store and the business model of the company was to “sell high-fashion look-alikes to price-conscious Europeans. Strategic management is illustrated in this case story when Zara clothing store planned to do “fast fashion” which means getting designs to customers quickly. Strategic management is when Zara’s employees look at the computers to scrutinize sales at every store. In this way they can see what is being sold at every store and they are able to produce more of the popular items.…
MTV is part of a broadcasting industry that is hugely technology driven and capital intensive by nature. Since MTV was planning on going global, they had to be susceptible to the different regulations in each operating country and take on the local competition that was characteristic about the broadcasting industry. In recent times, companies operating in the broadcasting industry had to face stiff competition from internet sites like Youtube and MySpace etc.…
the tremendous opportunities afforded by the Internet and developments in new media, the increasing globalisation of the music industry, as well as constantly evolving consumer tastes and preferences (www.timewarner.com).…
STRATEGIC MANAGEMENT PERSPECTIVE ABSTRACT “Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment.” (Lamb, 1984: ix)…
Based on this statement, I do not believe that MTV will face any challenges in regards to crafting future digital and global strategies; although their website Overdrive never took, right along with their digital store Urge (Coulter, 2013). It has been proven over the years with the different implementations MTV has made, with the…
Introduction - “Strategic Management is the management of an organization’s overall purpose, to ensure that the needs and enablers of the present are balanced with those of the future.” (Witcher & Chau 2010, P.6) In another word, it is the overall management of strategy in order to match and obtain the future long-term purpose and objectives. The main application is to achieve and sustain competitive advantages to enable an organization to compete effectively with rivals which a strategy should be able to create value for that. Strategic management should be carried out and organized by the senior managers and executives of an organization.…
“How can MTV make use of their global strategy and corporate governance in order to maintain their competitive advantages in the next three till five years?”…
I think strategic management is the process by which a company’s top management, which include the owners and stakeholder’s etc. , devise a plan of action which the company and its employees adhere to in order for the company to be profitable and successful.…