CCM
...noted that the ability of new competitors to easily enter the market does not mean that there is any baseline level of guaranteed success. This is particularly true given that Colorado Creative Music has attempted to corner a market of the music market that is not the traditionally young, disposable-income producing teen or "twentysomething" so coveted by the majority of the industry. Colorado Creative Music has targeted itself as establishing a niche in the market, rather than out and out domination of any particular sector of the music market." This document is part of AcademicDB, high quality, advanced level documents covering a broad range of subjects, suitable for business and academic uses. Whether researching anything from modern business strategy to Roman military tactics, AcademicDB can help. What follows is a short sample of the document entitled "The following report into Colorado Creative Music (CCM) sets to formulate a strategy to address the current issues CCM faces as it tries to manage its growth as a record label.": ... 8226; Releasing compilations with other artists has proven popular. One strategy could be to assembly the songs (say for Accoustitherapy) at the studio, and sell the completed disks at a discounted rate back to the performing artists in their hometowns. This method would cover the costs up front and give the players a financial incentive to push the product. • Pushing sales into non-traditional areas such as weddings, shopping center music etc. Threats • High number of new entrants and growth of other smaller labels due to the digital revolution. In addition, major labels or independent labels could decide to enter into CCM's domestic markets and try to drive the smaller labels out of the market. • Lose sales to substitute products like mp3s or internet downloads • Vulnerability to industry's driving forces because of CCM's weak position in its industry. 3.4 Accounting Analysis CCM could improve its financial position by looking at ways to reduce its expenses (see figure5). Strategies could include the purchase of an automated postage system, decreasing its supplies expense and reducing professional fees, such as hiring cheaper backup musicians at live performances (like uni students). One positive is that web sales have increased, but Darren indicates this is from the art festivals where he performs. As shown by figure4, gig ...