Wax perfection:
Wax perfection is a local record shop which deals primarily in music vinyl, CD and USB
cassettes. Wax perfection also sells second hand albums as well as music merchandise, like
t shirts and other rela
...
Wax perfection:
Wax perfection is a local record shop which deals primarily in music vinyl, CD and USB
cassettes. Wax perfection also sells second hand albums as well as music merchandise, like
t shirts and other related products, such as cd and record players.
Rationale for the marketing campaign -
Vinyl Records Market Analysis - One of the main things that can be said about the Vinyl
record sales is that it has been observed to make a comeback, with markets from the
several parts of the globe recording an increase in the number of sales. It is worth noting that
the vinyl records are not increasingly being seen in the sale of the old classic records, but a
new factor that is emerging is the way the new generation artists are embracing the record.
Major artists from the UK, such as Adele and Ed Sheeran have been observed to release
some of their songs in the format of the vinyl records. Such means that the millennials are
also increasingly jumping on the bandwagon of the vinyl records, a taste, which was earlier
left the baby boomers. Not only are the artist releasing their songs in the vinyl format, but
also the major record companies have been observed to release some of the records in this
format, which results in the rise of the demand for the demand for the sales, a trend which is
not only witnessed in the UK but at the global level. Passing over one million units sold in
2014, sales of vinyl record s have soared. The market for vinyl records in the UK is currently
worth at around £20m in 2015. This market has received constant threats from other forms
of selling and playing music, thanks to technological advancements, such as in streaming
and with the advent of mobile devices, and the numerous apps like Spotify which allow users
to stream music for around £10 a month, which includes their complete library of artists and
music, which amounts to millions of songs to choose from. This has hindered the vinyl
market, as these new media streaming platforms have become so convenient and
considerably cheaper for the average user, who don’t even have to leave their home to go
and buy music anymore and can do so from their home, as every song they’d want to listen
to is at their fingertip.
Aims and Objectives:
The outcome of this marketing campaign is to increase awareness of Wax Perfection,
therefore attract more customers using a number of strategies that can allow a smooth
increase in its brand image and customer loyalty.
1. To increase awareness of their brand by attracting the attention of more potential
customers.
2. Establish a brand customer can trust and speak well of it to friends and peers.
3. Opening new stores.
Target market:
From the surveys done in the Tesco stores selling the vinyl records, one of the most
dominant things that are seen is that the people who are between the age of 45-54, which
make up 29% of the market, and male customers which make 61% of the overall buyers. are
the people who are actively buying the vinyl records. As such, more focus should be based
on stocking the vinyl records that have the old and classic songs. Another key factor to note
is the young people are increasingly embracing the buying of these records, with most of the
people undertaking to buy most of the albums from their favourite musicians which are also
in the vinyl format. Due to this, a keen interest should place on the millennials too in coming
up with the marketing campaign for the store. However, this market is seasonal, as the
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