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JOMC 475 Product

JOMC 475 Product - JOMC475Product/MarketExpansionGrid 14:43...

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JOMC 475 Product/Market Expansion Grid 14:43 Pandora: options after starting business (went with #2) went from 5000 to 5 mill users Launch an ad campaign on radio stations, in music magazines, and at record stores People already predisposed toward product Intermediate step, have to bring people to the internet Build buzz about Pandora through Word-of-Mouth (WOM) Cheaper Also used email, town hall meets and eventually facebook  Spread quickly through target market Social media had just begun at the time so wouldn’t spread as fast Sell the service to a large chain of record stores, a music magazine, or a record label Instant access for thousands of users bc of the company like Virgin Records Wouldn’t own Pandora personally anymore, have to split profit Strategic Plans (1, 3, and 5 year plans) Mission statements  Goals and Objectives Business portfolio
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  • Spring '11
  • HeidiHennink-Kaminski
  • Product/Market Expansion Grid, high market share, low market share, high growth rate, low market growth

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