Polyphonic Hmi: Mixing Music And Math 1 PROBLEM STATEMENT After failing at their first attempt to enter the music industry‚ Polyphonic HMI (hereinafter referred to as the “Company”)‚ is releasing Hit Song Science (HSS)‚ software used to predict future hit songs with 80% accuracy. An integrated marketing strategy‚ needs to be developed to launch an innovative product‚ in an industry typically known for “gut instinct” and therefore likely to meet strong customer resistance. Thus there are two key
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Executive Cover Memo Subject: Polyphonic HMI: Mixing Math and Music This is to recommend that Hit Song Science should market its product and services to record labels attempting to catch a larger share of the market. BACKGROUND Polyphonic HMI is preparing to launch Hit Song Science‚ which analyzes the mathematical characteristics of music compared to past music hits‚ making it possible to determine a song’s hit potential. Music characteristics can be analyzed by math such as melody‚ tempo‚ pitch
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Polyphonic HMI: Mixing Music and Math If you were Mike McCready‚ the CEO of Polyphonic‚ which target market—unsigned artists‚ producers‚ or record companies—would you pursue? How would you serve this target market? We will start with the three steps of “Segmentation‚ Targeting‚ and Positioning.” The market have been categorized into three subsets‚ and in deciding market coverage‚ we have been limited to only one market due to company’s resources according to the case. In view of Product
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Polyphonic HMI: Mixing Music and Math (Case Review) Abstract This paper is an analysis of a case study originally conducted by the Harvard Business School in August of 2005 and is based on the challenges of introducing a new technology into a market place that for decades been based on “gut feelings and intuition”. The new technology was initially designed to assist consumers in music stores find music that met a certain criteria. Later this was changed because of a sharp decline in music sales
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Records and use their testimonials to win other record labels. Make use of the business connections of the advisory board at Polyphonic to get better reach to decision makers at record labels. Offer free trial reports to convince record labels and an initial lower cost for buyers along with discounts for high volumes ordered over a fiscal year. In the long run‚ promote Human Music Interface as a complement for Hit Song Science to maximize the revenue earning capability of a song (by ensuring better
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Polyphonic HMI‚ Company Analysis DECISION PROBLEMS Polyphonic HMI is in the process of establishing their Hit Song Science technology in the music industry. Major issue is the choice of a target market that would make most effective use of limited $150‚000 marketing budget. Following this decision‚ Polyphonic HMI also needs to determine its key marketing strategies such are pricing‚ positioning of the product for the target market in order to maximize the profits. ANALYSIS OF INDUSTRY (based
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the problem: “Hay más probabilidades de ganar en Las Vegas que en el sector de la música” stated Ric Wake‚ an Independent music producer. In a US market where sales growth is declining by 10.4% in 2002‚ this situation weakens deeply the whole music industry and opens to the door to a change of pattern in the way executives of this industry predict future “hits”. Polyphonic HMI‚ a technology company‚ relies on a single marketable revolutionary product: Hit Song Science. HSS is artificial intelligence
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Defining the Problem Major Issues 1. Uncertain Attractive Yet Challenging Music Industry Landscape The music industry is a 32 billion dollar industry‚ offering a huge opportunity if it can be penetrated. However‚ it is fraught with challenges. ArtistsArtists‚ producers‚ and record companies have little idea on how to find and create success in the industrygo abo. The dominant players‚ i.e. record companies utfind pursuing the production of thethe next big hit by producing in masses and hopingin
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Polyphonic HMI : Mixing Music and Math Entertainment Management Situation Analysis Issue Definition Environment Analysis Strategy Options & Choice Action Plan Situation Analysis Situation Analysis(External) So few songs actually become hits - Las Vegas gives you better odds than the Music Industry! You might as well just put a million dollars on red and spin the wheel... - Ric Wake‚ Independent Music Producer Entertainment Management : Polyphonic HMI : Mixing Music and Math
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•For a long time the western music was monophonic. Monks from monastery choirs created a new form of music. They added a second line to Gregorian chants. This made the music polyphonic. Because it had more than one line. Medieval music that has two or more melodic lines is organum. •The estampie is from the thirteenth century. It is one of the earliest forms of music. It is played in triple meter. The estampie beat is strong and played very swiftly. It has a very upbeat sound and sounds very cheery
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