Analysis of Big Daddy Music Emporium

962 Words Feb 2nd, 2018 4 Pages
Executive Summary

Big Daddy Music Emporium is a retail music store located in the southwest area of Las Vegas. Big Daddy Music Emporium sells and rents assorted musical instruments, provides music lessons for people of all ages, and provides instrument repairs. Through agreements with local school band programs and other networking, Big Daddy Music Emporium will be the exclusive music store for the entire Southwest Las Vegas area. This should significantly increase sales, lessons, and repairs, as band directors refer parents and students to our store through student participation in their programs. We will exploit the weaknesses of our competitors by becoming highly involved within the community through sponsored local events in order to turn one-time shoppers into loyal, lifelong customers. Our unique marketing strategies include our exclusive "All Money Back" trade-in program, where customers can receive the full purchase price toward upgrading their instrument; along with our "Play and Pay" donation program, where our store pledges to donate a portion of instrument sales and rentals to local school music programs.

Big Daddy Music Emporium will target three market segments, band and orchestra instrumentalists, mariachi instrumentalists, and lessons for older beginners. All three of these groups are populous in Las Vegas. With an overall population of over 2 million residents, the Las Vegas Valley is still one of the steadiest growing areas in the United States, and…
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