Marketing for a concept product - Essay Example

Marketing Music has a big market regardless of age and every person having a favorite genre. In today’s market, every person is looking for a way to access his or her favorite music in the easiest way possible. Technology companies like Apple are becoming more and more innovative to appease their client base. The Internet has made it easy for everyone to access music online, which has led to many cases of piracy. This has led to tough legal laws against music application and software. Most of music application consumers are online, therefore, to market a music application, using the Internet, and social media is the best strategy to use.

However, many legal issues and sometimes economic factors like raising funds face this. Music patent requires that every company dealing in music applications get a special license and pay copyright fees to musicians. In November of 2011, Apple removed Amazon Cloud music player from an application store. The third party iOS application that was used to stream music from Amazon’s Cloud Drive was removed from application stores because of legal complications with the music industry (Oliver n.p.).

These fees required by the law are pricey and attach to the cost of the application. There is also a need to update the software over and over again to stay in front of the competition. To deal with these laws, Apple, for example, obtained a proper license for its music applications and their consumers have to pay 24.99 dollars per year to download music or use their application. Strengths(Internal) WEAKNESS (internal OPPORTUNITIES (External) A. Patents that protect the application from being reproduced by another company. B. Favorable accessibility and compatibility A.

A weak brand name compared to the competitors THREATS (External) A. Substitute products B. New legal regulation from the music and software industries A. Cost of production being too high because of cost of acquiring raw resources This application will have three major competitors: Apple, Amazon, and Google. Apples iTunes will be a direct competitor for this application. The iTunes application is an online based digital media operated by Apple. Upon its opening, more than two hundred thousand items were purchased, and it has been the number one music vendor since 2008.

ITunes gives weekly promotions where the users are allowed to download music free on Tuesdays. This marketing strategy has kept their consumer base loyal and is the reason they are leading music application to date. It has been able to stay ahead of its competitors being a product from the leading technology brand in the world. A product strategy focuses on the product; in this case, this application will save users from the hustles of using USB ports or having to access the Internet. It gives clients the ability to listen to their preferred music without having to carry cables.

This is convenient as the application will be compatible with all vehicle stereos. ITunes provides support for its customers and compared to other applications like those of Spotify, it has managed to keep on providing its consumers with discounts. It has managed to stay ahead of its competitor, Spotify, by providing all the latest music (“Spotify Aims to Take Market.” n.p.). The wireless music application will have to appeal to the young drivers to stay ahead of the competition. Works Cited “Spotify Aims to Take Market Share from iTunes.

” BBC News Technology. Web. 15 March. 2012. Oliver, Sam. “Legal Issues Prompt Apple to Remove Amazon Cloud Music Player from App Store.” Apple Insider. Web. 15 March. 2012.