Marking Essay Example | Topics and Well Written Essays - 1500 words

Marking - Essay Example That is  it’s an activity aimed at making the commodity available to the consumer and on the other hand, making a profit for the specified organization. It involves coming up with a product design that will be desirable to the consumer, promotion of the product to make it well known to the people and finally, coming up with a price to let the potential clients know about the product (Bellis, 2013). How Syco conforms to the definition in that:- It has established a good relationship with the film and music market making it an award winning company. By advertising in their television and internet, it makes new products known. And setting music and movie prices SWOT analysis (COGHILL, 2003) Strength It has a great team of marketers. Good appeal to the mass due to their expertise. X Factor won an Award hence became popular. It holds copyright for several films. It has international facilities that are of great quality. Weakness Limited to Europe and U.K market. Creativity in the music and film has gone down. Opportunity New media and digitalization. Increase in broadcasting. Rise in the regional media. Threats Cycle time for common movies and song has been declining. The costs of rights to own movies and songs have been rising. PEST analysis (COGHILL, 2003) Political Heavy taxation by the government in music and film industries. Change of government may also change the laws appertaining to music and film industry like copyrights. The government may also restrict a particular group/age of people who may be talented. Government can also promote music industry by providing relevant infrastructure. Economic The level of government spending increases reducing the amount of disposable income. Inflation has reduced the value of money Provision of job opportunities has been a challenge. Low level of disposable income for individual. Fall in exchange rates among different countries Social Some culture restricts certain type of music and movies due to pornographic c ontent. Some movies are restricted to a certain age of people especially those who are adult. Technology More inventions have come up in the field of music and films. Infrastructure development due to innovation and inventions hence new equipment. SMART Objectives (Using SMART Objectives, 2012) By the end of 2014, the firm should make a 14% profit. It should be able explore new market in Middle East and Africa by the end of 2014 (Word count 500) Assignment 2 Market research Market The Syco Company has an established market for film, music and television. This is as a result of operating as a joint venture with several companies hence increasing their market share. It has set up a joint venture with Nigel Hall. This branch aims at looking for market niche in television production. In order to gain a wide coverage the manager is aiming at getting some of the qualified staff from London. Competition Competition in music television and film industry is actually on the rise. Several comp anies have emerged with increased film productivity. More regional televisions have also come up to target a specific group of people like the youth. Companies like Sony, Harry hills, Nigel Hall, Pudsey Collars. These companies have come up with unique talent that poses a stiff competition to Syco. Furthermore, they have also come up with more advanced entertainment closet. In response to this stiff