Sample Answer #2

Sample Answer #2 - Sample Answer #2 (1) (Business Model)...

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Sample Answer #2 (1) ( Business Model ) Design a business model for Yamaha Pianos for 2008 (20) a. What should be Yamaha’s “story”; who are their customers?; what is the “value” that Yamaha brings to each customer group Technology has made an immense impact and brought about a radical change on almost every industry. The music industry, being one of the most affected industries, has undergone a drastic change. Indeed, digital technologies have dramatically altered the nature of the way music is created, manufactured, marketed, distributed, and consumed. In our ever growing world of technology, people are constantly looking for newer and easier ways to use instruments with portability and size being essential requirements. Also, the quality of sound is becoming more and more important in today’s continuous evolution of music. With fewer customers for traditional pianos and acoustic instruments, Yamaha will adopt digital technologies to produce top quality pianos and other music instruments (electric guitars, mixers etc) with very user-friendly interfaces. Since most people prefer portable devices, Yamaha will produce portable digital grand pianos and instruments into its product line. Also, there are some groups of customers who would like to embrace technology and yet not part with the acoustic sound of the instrument. For such customers, Yamaha will introduce a hybrid model with the best of both worlds, giving the users the ability to switch between the acoustic and digital sounds. Yamaha will be customer-centric make its best attempt to cater to the needs of all the customer groups and add value to them. This will be done with the help of a Customer Relationship Management system, which will be extensively used for understanding the changing needs and trends of the customers, to gather feedback from them to continuously improve the product line and for marketing the new products. The valuable feedback from this CRM system will be sent to the Research and Development team which will produce new innovative features in products and continue to find ways to improve quality keeping in mind the customer needs and requirements. Also, the manufacturing and production of the piano components will be shifted (outsourced) to more cost effective centers like Indonesia and China. Labor costs will be decreased by using technology and robotics to produce instruments. These cost reductions will help Yamaha produce cost effective, high-quality pianos/instruments. Yamaha‟s customers can be classified into the following groups: a. Musicians
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1. Music Bands(touring bands/non-touring bands) 2. Recording studios 3. Opera houses 4. Theatres (Musicals, comedy shows etc) 5. Restaurants and Pubs with Live Bands b. Music Schools 1. Piano Students 2. Piano Teachers c. Hobbyists 1. City Dwellers/ Country side dwellers (City Dwellers have space constraints because of smaller apartments) 2. Hobbyists living in variable climates(acoustic pianos change sounds in
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This note was uploaded on 11/01/2011 for the course IDS 594 taught by Professor Staff during the Fall '08 term at Ill. Chicago.

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Sample Answer #2 - Sample Answer #2 (1) (Business Model)...

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