HMV an E-marketing Perspective Essay Example

HMV an E-marketing Perspective Essay For this report we will be analyzing the original HMV music store on 363 Oxford Street, London, and how integrating or enhancing their e-marketing strategies could benefit their store. As previously mentioned, this was the first HMV music store to open, and was set up in 1921. At that time, the store did not focus on the music and film genre, but rather on a variety of HMV branded goods. It was conservative in the sense that business transactions were done on a one to one basis, and those residing outside of London could only purchase HMV products from exclusive appointed dealers [5]. Like today, many customers were able to open accounts within the store. Purpose Currently, HMV has the following marketing objectives [1]: Generate store traffic and encourage the purchase of other products, other than CDs, along with increasing album purchases. We will write a custom essay sample on HMV an E-marketing Perspective specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on HMV an E-marketing Perspective specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on HMV an E-marketing Perspective specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Increase positive perception among its customers. Predict and satisfy their customers needs. Analyze market trends traditionally as well as on the net. According to the 2003 Annual Report [4], their key strategies have been to: Optimize store portfolio. Achieve superior financial performance. Exploit new product opportunities. Secure leadership in chosen markets. HMV has a website in which it is possible to buy CDs, DVDS or video games, also sold in-store. Unfortunately, this only satisfies some consumers needs. The advantages provided to customers by this are that they do not actually have to leave their home to make a purchase, and it is less tedious to search for desired items. On the other hand, the prices for CDs and DVDs on the current site are either the same price or sometimes even more expensive than in the store, on top of which additional fees are imposed for shipping. For this reason, online transactions may turn out more expensive to the buyer. This implies that their current method is only targeting certain audiences. With the increase of internet competition, and the ability to purchase used CDs on an alternative site for cheaper prices (such as Ebay), or even download songs illegally for free, it is possible that many customers will refrain from paying full price for products offered on the HMV website or stores. Proposition Although HMV is already using e-marketing as part of their marketing activities, there is still room for new strategies to be implemented. With the adoption of new forms of e-marketing, HMV on Oxford Street would be more up to date with the changing market and therefore increase their sales and attract more customers. The specific marketing objectives recommended for 363 Oxford Street are to: Target new customer audiences (ie. people who only buy items on promotion, people who cannot afford to buy CDs or DVDs at regular price, and people who are loyal to their artists and still want original CDs rather than burned copies). Improve profitability brought by their video games. Encourage customer loyalty. Be the leading HMV store (in customer flow) by having the best communication with their customers. The idea proposed is to develop a personalized website, directly linked to the Oxford store, rather than all HMV stores. The strategies recommended to be used within the new site to achieve each of the recommended objectives, respectively, are to: Establish an infrastructure for customers to buy sell second-hand products through the site. Provide opportunities to try out new video games in the store hold monthly tournaments between customers. Offer coupons for in-store products on the site. Distribute weekly newsletters to registered customers who wish to be notified of upcoming events, sales, etc. Recommendation for Action In order for these strategies to be carried out, a website should be specifically created for the Oxford Street store. The website should initially be advertised promoted in the store, and by other means to notify people of its existence and getting them interested in visiting. Visitors of the site will then have the option to register onto the site, to become members and be able to take full advantage of all benefits provided by it. This site should carry the HMV brand name along with an extra word to differentiate it from other HMV sites, but continue to have the benefit of the well known brand that provides customers with a feeling of good quality and service. The website is to advertise promotions taking place in the Oxford Street store, in addition to the other incentives to visit the store. The infrastructure created to buy and sell second hand products will allow consumers with used CDs or DVDs which they are bored of and want to get rid of, to either sell or exchange the product with other consumers in the same situation who wish to swap. In this way, customers who are loyal to their artists and still like to have original CDs, but cannot afford to pay high prices, are able to obtain them at a low price. Although this will mostly be a customer to customer relationship, HMV could take part in each transaction by automatically adding a small amount to the price set by the seller, such as 50 pence, which would be paid to HMV for allowing the transaction on their site. With that money, the buyer could also be benefiting indirectly by having a certain amount, such as 10 HMV points added to their account. After accumulating a certain amount, such as 50 or 100 points, the points will then have to be redeemed in-store (Oxford Street) for discounts on products or freebies. In this way, different types of customers will be targeted that were not targeted before, and more customers will be attracted into the store. This move towards cheap trading of music and films is very important since, through evolving technology, it is now so easy to burn music or films and distribute them between friends [6]. The site can also include special video game related features to attract even more customers and increase in-store sales of video games. This can be carried out by allowing site members to try out new video game arrivals and encourage people to buy them. Customers will only be allowed to play for 10 minutes at a time, establishing that it is only a trial and if they wish to pass to other levels or play longer they must go to the store and buy the game. The website can also allow members to play random video games (sold in-store) against each other, to promote the games, and perhaps even hold monthly tournaments online. The finals can be held in-store and the winner may receive either a free game or a gift certificate for that particular store. The advantage to this is that by having promoted the games and getting people in the store, even those that do not win will probably end up buying something in the store, beginning with the game they played, if they liked it, and they will prob ably continue to go to that store. Therefore, profitability of video game sales may be increased, as well as customer loyalty. Another strategy proposed is offering in-store coupons on the site. Customers are to print out the coupons and use them at the Oxford Street store only. This strategy will increase both the amount of people going to the store and visiting the site. People will visit the site more often to check out the new deals being promoted and those deals will encourage customers to visit the store. This will attract a new customer audience, those that will not purchase an item unless it is on promotion. It will also encourage customer loyalty, since the coupons may only be redeemed at the Oxford Street store, so customers will go to that particular store rather than other HMV stores. The best way to be in touch with customers through e-marketing is by sending weekly newsletters. Upon registration on to the site, members will have the option of receiving a newsletter every week updating them on upcoming events. Customers may pick from a menu which events or promotions they would be interested in and be notified via email of the ones they chose. These events may include celebrity appearances in-store for autographs, final round of video-game tournaments to be carried out in-store, new releases of CDs, DVDs, video games, accessories, and hints on hot new coupons featured on the site, which they would have to enter the site to access and print. This would help promote both the store and the website and would further increase customer loyalty in the Oxford Street store, giving them a great advantage over other retailers, including other HMV stores. Tracking There are several ways in which progress can be tracked. One minor way would be by including a number of hits feature on the site to see how many people are visiting it. The number of people that register onto the site can also be counted. Members of the site could fill out a profile upon registration to keep a record of the type of audience that is being attracted by this strategy (such as demographics). In-store sales could be compared to previous years to see if the website has helped them through advertising their products and promotions. A quantitative approach may be to track the number of coupon redemptions in the store to see how efficient that particular strategy is. A survey could also be conducted either within the store or online to find out if the website has had an impact on customers, and how it has affected their spending habits at HMV Oxford Street (whether they are spending more or less on average). Tracking progress will help the Oxford Street store conclude whethe r more customers have been attracted into their store through the website, and if this has affected their in-store sales. Critical Success Factors In order for this integration to succeed in reaching its objectives, the following CSFs must be met by either the Oxford Street store, the new website, or both: Both the store and the website must always be up to date with new technologies trends (such as creating personalized CDs in-store). The website must take up the HMV brand name to absorb the image of the company and therefore have an immediate customer base (as HMV already has brand awareness and loyalty). The quality of the website must be good to live up to HMV standards and really keep customers happy. An example of a good quality the website should have is ease to search for a desired product, which may be achieved through potential sellers categorizing their products. Stock levels must be met within the store. If the store has more stock than it can sell it will cut the companys profit margins. If the companys stock levels are too low, it will not meet customer demands, and their customers will go elsewhere. Management staff should be well trained and always aware of everything going on in the site. This way they will be prepared to answer any question(s) a customer might have regarding coupons, promotions, tournaments, appearances, etc. Conclusion In conclusion, it is essential for companies to always stay in touch with customers needs. On the same level, it is also important for companies to constantly research and analyze the market to keep up to date with new technologies and innovations. Otherwise, it is quite unlikely for a company to succeed. Fortunately, HMV has always proved to be pretty good at this and this is no time to stop. In the case of the music industry, with the new technology providing so much internet competition, it is imperative that all music companies take the future of digital music seriously [10]. This is why HMV has begun to make the move in an attempt to retain market share and keep from internet delivery of music stealing their revenue. As a customer-focused company, HMV seeks to provide what consumers want, while keeping in view new technology. Developing new ways to reach consumers is what has made HMV Group the powerful retailer it is today. To support this, David Cameron, e-commerce systems manager of HMV Group plc, says If youre going to be a successful e-business, integrating your back-end systems with your front-end database is essential [5].

How to Write an Analytical Essay on Romeo and Juliet

How to Write an Analytical Essay on Romeo and Juliet Romeo and Juliet Features of writing about Romeo and Juliet How to start How to create an outline How to write a thesis for an essay on Romeo and Juliet How to write an introduction Tips on introduction and thesis writing How to write body paragraphs Tips on body writing How to conclude Tips on conclusion writing Tips on revision Analytical essay sample (Romeo and Juliet) Features of writing about Romeo and Juliet Writing about Romeo and Juliet allows one to discuss cultural diversity. Since you exist in today’s world, expounding on a play composed centuries ago enables you to explore cultural perspectives and assumptions different to yours and learn the historical background of modern culture. Additionally, writing about such characters as Romeo and Juliet enables you to explore the language. Shakespeare’s language utilizes complex syntax, extensive vocabulary and many phrases. Furthermore, you expand your syntactic attention span and vocabulary and can learn via imitation how Shakespeare employs figurative language. How to start Before starting your analytical essay on Romeo and Juliet, state some form of claim or argument about what you are analyzing. Typically, analytical articles focus on how the book or poem was composed, for example, how the utilization of similitude and metaphor brings forth a precise connotation to the anecdote, and how specific topics are depicted in the narrative. Alternatively put, analytical essays require the writer to examine a book or play’s smaller sections and expound them thus developing a bigger picture. For one to begin an analytical paper, thoughts and facts must be reviewed, and from there, connections are linked thus articulating concepts and using events to support it. How to create an outline When writing an outline for this type of paper, specifically an analysis essay outline format must be followed. A written outline is an effective method of arranging your thoughts. An outline breaks down sections of your thesis in a simple, hierarchical manner to aid you in viewing your essay’s overall format. So. below is how an essay’s outline can look like: Sample Outline I. Introduction Sentence capturing your reader’s interest One-two sentence proclamation (Thesis statement) II. Body paragraphs First main idea Second main idea Third main idea III. Conclusion Thesis restatement Insightful sentence closing Third main idea How to write a thesis for an essay on Romeo and Juliet The thesis tells your reader what to expect. It is precisely worded, restricted, and declaratively states your essay’s purpose. A paper lacking a carefully conceived thesis is below par. Here is a thesis statement which is fitting for an analytical essay: â€Å"By not punishing more harshly the early acts of hatred in Romeo and Juliet, an atmosphere welcomes hatred to thrive which ends in demise is formed by the Prince.† Naturally, the thesis statement is typed at the introductory paragraph’s end. How to write an introduction Your analytical essay’s introduction should attempt to enthrall your reader’s interest. To shift immediate focus to your subject, use quotations, brief anecdotes, a provocative question, or a merger of all. Also, consider using background information pertinent to your thesis and necessary for your reader to recognize your stance. Tips on introduction and thesis writing Hook your reader with a captivating first sentence. Begin with an example. Ensure your argument has context. Preview your paper’s structure. Craft a distinctive arguable thesis. Transition into your first paragraph to sum everything up. How to write body paragraphs The term used for the advancement of central ideas in your analytical essay is ‘body paragraph.’ Here, one presents the paragraphs supporting/upholding their thesis statement. A compelling analysis essay contains evidence from the text and explains your ideas. Tips on body writing Begin by typing your key ideas in sentence form. Apply textual evidence (specific details, summary, direct quotations, and paraphrase). Write your supporting points for your chief idea that is, quotations and paraphrases from sources and facts (findings and statistics from conducted studies). Ensure you tie the facts you state back to the paragraph’s main idea (analysis). Your transition from paragraph to paragraph should be fluid. Explain your argument’s importance. How to conclude Your analytical essay needs a concluding paragraph which gives your writing a sense of completeness along with alerting the reader your essay is concluding. Your finishing paragraph might summarize your paper’s key points; reaffirms the thesis in other terms, or make relevant comments regarding the analytical essay, but from a different perspective. Here is the illustration, â€Å"This feud ends tragically for Juliet and Romeo. The events contrast revenge and hatred with love and secret nuptials, forcing the youthful lovers to mature quickly and tragically die in despair. Tips on conclusion writing Don’t start a new subject in your conclusion. Make it short. Challenge the reader by posing an inquiry. Synthesize, do not summarize. Don’t repeat things stated in your thesis. Redirect your readers by giving them something to ruminate on. Tips on revision To write a perfect essay, you always need to reread your paper and correct all the mistakes. Keep your format simple. Include clear transitions, citations, and markers. Include support and evidence for main points. Check your grammar and spelling. Ensure the essay’s intent is shown not told. Analytical essay sample The Tragedy of Romeo and Juliet Lord Capulet is at fault partially because he instructed Juliet to slow down and find an individual she loves before getting hitched. So is Friar Laurence due to his hasty decision about secretly conducting the nuptials in the absence of their parents’ knowledge. Romeo and Juliet are blamed since at a youthful age, they secretly got married, without anyone’s knowledge. In the disastrous love story, composed by Shakespeare, Romeo, Friar Laurence, Lord Capulet, and Juliet are all at fault for the killing of Juliet and Romeo because they were rushed into decision making. Lord Capulet, the father of Juliet, was hasty in decision making because he attempted to overwhelm the sadness which came from Tybalts demise with the ‘wonderful’ news of Juliet’s marriage with Paris. Juliet’s father informs Juliet about her nuptials to Paris that coming Thursday and paints a picture of how big a celebration it will be. A day past, Lord Capulet alters the date from that Thursday to that Wednesday. Capulet acted hastily in his decision, so did Friar Laurence. Friar Laurence was the individual who joined Romeo and Juliet in matrimony without either’s families’ knowledge. In the introduction to scene six, â€Å"the two declare their unending love for each other and prepare to seal their marriage by the Friar.† Friar additionally gave Juliet the portion whose aim was making her appear lifeless for â€Å"two and forty hours.† Romeo and Juliet are blamed for their demise. They both acted hastily and got married in their parents’ absence, without their consent. They were around sixteen and thirteen as well. If Romeo would have been present to talk to Juliet, he would have known her plan and would not have killed himself since Juliet was still alive. If Romeo didn’t kill himself, Juliet would not have either. Many people are blamed for the killing of the romantic yet tragic Romeo and Juliet that is, Friar Laurence, Juliet, Romeo, and Lord Capulet. This tragic love story shows us how to love and secret nuptials forced the youthful lovers to mature quickly and dreadfully die in despair.