E Sonic : Strategic Analysis

1136 WordsSep 12, 20165 Pages
1. Executive Summary: This strategic analysis focuses on many aspects needed for Sonic Records to build a competitive and successful online music store. E-sonic, subsidiary of Sonic Records was created with the vision of becoming the world’s leading online music store. This strategic analysis contains company objectives, strengths, weaknesses, functionality, potential challenges and insight on what makes competitors successful. It also contains trends, projections, and opportunities within a fast growing global market. The company has established some very strong objectives that can be accomplished by setting goals that are aligned with these objectives. The analysis also suggests the importance of following trends and ensuring to stay up to date with technological advances. Innovation and unique creativity would also help put the company ahead of competitors. If current trends, and digital music sales continue increasing the way they have been the past few decades, E-sonic has a bright and promising future on their mission to become the world’s leading online music store. 2. Strategic Analysis a) NAICS Identification: Based on the increase in use, and high demand for digital music, Sonic Records has formed a secondary company named E-sonic. According to the United Census Bureau North American Industry Classification System definition, E-sonic falls under the industry code 334614 “This U.S. industry comprises establishments primarily engaged in mass

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