musica BP.docx - Running Head MUSICA BUSINESS PLAN Musica Business Plan Name of Student Institution Affiliation Date of Submission 1 MUSICA BUSINESS

musica BP.docx - Running Head MUSICA BUSINESS PLAN Musica...

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Running Head: MUSICA BUSINESS PLAN 1 Musica Business Plan Name of Student Institution Affiliation Date of Submission
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MUSICA BUSINESS PLAN 2 Contents Executive Summary ......................................................................................................................... 3 Key Objectives ................................................................................................................................. 4 Product and Services ................................................................................................................................... 4 Composer to client market ....................................................................................................................... 5 Market Opportunity and Analysis ................................................................................................................ 5 Industry and Customer Analysis .................................................................................................................. 7 Industry analysis ...................................................................................................................................... 7 Competitive analysis ................................................................................................................................... 8 SWOT Analysis ........................................................................................................................................... 9 Detailed Persona of Potential customers ...................................................................................................... 9 Persona A, Lee Johnson ........................................................................................................................... 9 Background ......................................................................................................................................... 9 Customer problem ............................................................................................................................. 10 Solution ............................................................................................................................................. 10 Customer Persona, Ashley Cater ........................................................................................................... 10 Background ........................................................................................................................................... 10 Consumer problem ............................................................................................................................ 11 Solution ............................................................................................................................................. 11 Staffing and training .................................................................................................................................. 11 Customer service ....................................................................................................................................... 11 Purchasing procedure ................................................................................................................................ 12 References ................................................................................................................................................. 12
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MUSICA BUSINESS PLAN 3 Executive Summary Music is an integral aspect of human life and plays a key role in advertisements. Its composition allows the advertisers to connect with the general audience in a very unique way that the videos cannot achieve alone. It is a common practice that the advertises, videographers usually seek talented musicians to create compositions that will make their ads go viral and boost their sales. Actualizing the whole idea has however proven to be a difficult task. The whole process of explaining your idea to a composer and getting down to work and the numerous editing and licensing the end product can be a real problem for the advertisers. The composers still to be well connected in the market and if they lack the right network to reach the advertisers to work on such projects, then they remain without work for long periods. Contracts that involve musical items for video ads are very much involving and may take way long before the deal is sealed. Musica is a mobile application that aims to solve this kind of problem. It streamlines this hectic process and makes it more effective and efficient for the composers and users that need to get the services of music compositions for their video advertisements. Composers stand out to benefit greatly from this app as it will offer a producer-to-producer market where they will create, purchase and sell sounds. The app will enable them to access a larger pool of libraries as far as music sounds are concerned. The app will enable composers to use tools to make new audio tracks that can be loaded to the composer-to-business marketplace and this can be licensed to those that need them and support their advertisements. Musica app is seeking an approximated investment of $75000 to develop and refine the existing application, implement an intensive
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MUSICA BUSINESS PLAN 4 market strategy and provide enough capital to sustain the operations until the company realizes returns on the investment. Key Objectives Musica app seeks to create an opportunity for composers and musicians so that they can generate substantial income and reward their talent. The key objective is to be the leading sound and audio marketplace application that will provide solutions to the various stakeholders in music and advertisements. It is projected that the app is launched to the general market latest at the
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