Marketing Analysis Polyphonic HMI Essay

Executive Cover Memo Subject: Polyphonic HMI: Mixing Math and Music This is to recommend that Hit Song Science should market its product and services to record labels attempting to catch a larger share of the market. BACKGROUND Polyphonic HMI is preparing to launch Hit Song Science, which analyzes the mathematical characteristics of music compared to past music hits, making it possible to determine a song’s hit potential. Music characteristics can be analyzed by math such as melody, tempo…

Polyphonic HMI: Mixing Music and Math (Case Review) Abstract This paper is an analysis of a case study originally conducted by the Harvard Business School in August of 2005 and is based on the challenges of introducing a new technology into a market place that for decades been based on “gut feelings and intuition”. The new technology was initially designed to assist consumers in music stores find music that met a certain criteria. Later this was changed because of a sharp decline in music…

deeply the whole music industry and opens to the door to a change of pattern in the way executives of this industry predict future “hits”. Polyphonic HMI, a technology company, relies on a single marketable revolutionary product: Hit Song Science. HSS is artificial intelligence software that can assess the “hit” potential of a song thanks to an extensive analysis of millions of songs. This tool is the first of its kind to predict future “hits” with 80% accuracy which means a tremendous increase of…

Polyphonic HMI, Company Analysis DECISION PROBLEMS Polyphonic HMI is in the process of establishing their Hit Song Science technology in the music industry. Major issue is the choice of a target market that would make most effective use of limited $150,000 marketing budget. Following this decision, Polyphonic HMI also needs to determine its key marketing strategies such are pricing, positioning of the product for the target market in order to maximize the profits. ANALYSIS OF INDUSTRY (based…

Polyphonic HMI : Mixing Music and Math Entertainment Management Situation Analysis Issue Definition Environment Analysis Strategy Options & Choice Action Plan Situation Analysis Situation Analysis(External) So few songs actually become hits - Las Vegas gives you better odds than the Music Industry! You might as well just put a million dollars on red and spin the wheel... - Ric Wake, Independent Music Producer Entertainment Management : Polyphonic HMI : Mixing Music and Math…

What is Marketing? A plethora of individuals seem to be misinformed about marketing. Several of these individuals believe that marketing is just advertising. Others will tell you that marketing is all about sales, insinuating that all marketers are just salesmen. Now these beliefs are both right and wrong. “How can they both be right and wrong at the same time?” you may be asking yourself. Well they are right, because marketing encompasses both advertising and sales. They are both wrong by assuming…

Recommendation: Target the record labels for promotion of HSS reports. Start with the initial enthusiasts like Ken Bunt of Hollywood Records and use their testimonials to win other record labels. Make use of the business connections of the advisory board at Polyphonic to get better reach to decision makers at record labels. Offer free trial reports to convince record labels and an initial lower cost for buyers along with discounts for high volumes ordered over a fiscal year. In the long run, promote Human Music…

Recommendation: Target the record labels for promotion of HSS reports. Start with the initial enthusiasts like Ken Bunt of Hollywood Records and use their testimonials to win other record labels. Make use of the business connections of the advisory board at Polyphonic to get better reach to decision makers at record labels. Offer free trial reports to convince record labels and an initial lower cost for buyers along with discounts for high volumes ordered over a fiscal year. In the long run, promote Human Music…

Polyphonic Hmi: Mixing Music And Math 1 PROBLEM STATEMENT After failing at their first attempt to enter the music industry, Polyphonic HMI (hereinafter referred to as the “Company”), is releasing Hit Song Science (HSS), software used to predict future hit songs with 80% accuracy. An integrated marketing strategy, needs to be developed to launch an innovative product, in an industry typically known for “gut instinct” and therefore likely to meet strong customer resistance. Thus there are two key…

Introduction Marketing research is "the process that associates the consumers, customers, and end users to the marketer through information — information used to classify and describe marketing prospects and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and development understanding of marketing as a process. Marketing research identifies the information required to address these issues, designs the method for collecting information, manages and implements…