Business Plan for a Record Company
Mbuthia, Alexander; Wakuwile, Janina (2013)
Mbuthia, Alexander
Wakuwile, Janina
Laurea-ammattikorkeakoulu
2013
Creative Commons Attribution-NonCommercial 1.0 Finland
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2013112117679
https://urn.fi/URN:NBN:fi:amk-2013112117679
Tiivistelmä
The objective of this thesis is to develop a business plan for a record company named Kamoja Records in Espoo Finland that will focus on music and video production. The main purpose of this study is to determine whether this business plan is viable and whether the resulting company would be able to function as a vibrant record label. The business plan evaluates different features that are related to music and video production. The purpose is to obtain knowledge about business planning in general, to study and analyze the music industry and use the knowledge to write down a well-constructed business and marketing plan for the record label. The authors’ own learning objectives are to apply the knowledge obtained during the study at Laurea University of Applied Sciences in practice.
The essentials of business planning are outlined in the theoretical framework. The study’s theoretical objective is to define the models of business planning, and to create a general un-derstanding of the important theories of a business plan. The study’s empirical objective is to formulate a business plan for a new record label using the analysis presented in the theoretical section, literature review, Internet sources and the authors’ own knowledge, henceforth developing an appropriate marketing approach based on research. The thesis highlights the main objectives and strategies of a business plan, defining possible competitors and potential customers. A description of the industry, market analysis, marketing strategies, marketing mix and SWOT analysis are included in the plan as well.
This study uses a qualitative approach, which reflects on data gathered via internet sources, literature reviews and a questionnaire. As a learning process the study is beneficial to the authors. The knowledge gathered through analysis of this topic and writing the business plan for a new record label will be used by the authors when establishing the record company in the music industry sector.
In conclusion, the primary data collected indicates that the business plan is valuable enough to attract potential customers and justify appropriate marketing strategies; the secondary data obtained via literature review suggests that the case company’s business plan is applicable to the current music industry and would be potentially profitable if it is realized properly.
The essentials of business planning are outlined in the theoretical framework. The study’s theoretical objective is to define the models of business planning, and to create a general un-derstanding of the important theories of a business plan. The study’s empirical objective is to formulate a business plan for a new record label using the analysis presented in the theoretical section, literature review, Internet sources and the authors’ own knowledge, henceforth developing an appropriate marketing approach based on research. The thesis highlights the main objectives and strategies of a business plan, defining possible competitors and potential customers. A description of the industry, market analysis, marketing strategies, marketing mix and SWOT analysis are included in the plan as well.
This study uses a qualitative approach, which reflects on data gathered via internet sources, literature reviews and a questionnaire. As a learning process the study is beneficial to the authors. The knowledge gathered through analysis of this topic and writing the business plan for a new record label will be used by the authors when establishing the record company in the music industry sector.
In conclusion, the primary data collected indicates that the business plan is valuable enough to attract potential customers and justify appropriate marketing strategies; the secondary data obtained via literature review suggests that the case company’s business plan is applicable to the current music industry and would be potentially profitable if it is realized properly.