Strategic Mgt Slides

Ali Ahmad 006Ifrah javed 045M. Habib Ullah 084Nayab Ameen 115Sharjeel Arslan 139Zahid Yousaf 166Qaisar Abbas 175

Strategic ManagementStrategic Management

Music on the Internet: “Transformation of Industry by Sony, Amazon.com, Mp3.com &

Napster”.

Chapter slidesChapter slides

Business Model and Business Model and Strategies in the Internet Strategies in the Internet EraEra

.

IntroductionIntroduction

Internet:

“Internet is an integrated network of users connected computers, digital switches and routers, millions of servers and telecommunication equipments and lines”.

Users:

400Millions (2001)

700Millions (2003)

Main Companies Involved in Main Companies Involved in music industrymusic industry

Sony CorporationAmazon.comMp3.comNapster

Competitive forcesCompetitive forces

The impact on competitive rivalryThe impact on barrier to entryThe impact on buyer bargaining powerThe impact on supplier bargaining powerThe impact on seller-supplier collaboration

The impact on competitive The impact on competitive rivalryrivalry

•There is wide geographic market, so the rivalry among competitors become increased.•Elimination of Geographical protection of distance.•Freshly launched E. commerce strategies among competitors.

The impact on barrier to entryThe impact on barrier to entry

Low barrier to entry in e. commerce. As internet is easier source to expand markets.

Easy availability of software for making websites.

Only barrier is to create awareness and increase traffic on websites.

The impact on buyer bargaining The impact on buyer bargaining powerpowerInfo about competing products and brands.Websites provide 24*7 facility.Facility to manufacturer. Wholesale, retailer

to buy and approach desirable vendors.Person who has knowledge of market,

product, quality and who is price conscious has higher bargaining power.

The impact on supplier bargaining The impact on supplier bargaining power.power. Facility to organization to reach the

best supplier by increasing efficiency and reducing cost.

Facility to indentify foreign supplier & then involved him in supply chain.

Supplier have wide access to buyers in online business.

Eliminating difficult process of E-mail and Fax,

The impact on seller-supplier The impact on seller-supplier collaborationcollaborationEffective relationship between supplier and

seller & easy access.Company will continue buying , if a seller

provides best values.Collaboration of inbound logistics.

Other strategy-shaping Other strategy-shaping features of internet features of internet technologytechnology The internet is a force globalizing

competition and expending the geographic arena in which firms have a market presence. A company’s Web store is open to buyers all over the world.

E-commerce Language Shipping expense Best Suppliers

Other strategy-shaping Other strategy-shaping features of internet features of internet technologytechnology Internet and PC technology are

advancing at uncertain speeds and in unexpected directions. A few years ago , Both Intel and Microsoft were focusing all their energies on boosting the performance and capabilities of PCs and expanding the role of PCs as a multifunctional appliance in both business and households.

Iomega’s Zip Hard Drives Broadband

Other strategy-shaping Other strategy-shaping features of internet features of internet technologytechnology

Reduce Variable Cost:Labor savingLower transactions costOther cost


The internet speeds the diffusion of new technology and business approaches, making first-mover advantages short lived.


The internet can be an economical means of delivering service. The internet providers innovative opportunities for handling customer service activities, supplementing or even replacing on site personnel.


By handling customer service issues over the internet , companies need fewer people to send out to customers’ locations, staff telephone lines at call center or respond to other customer communications.

Example: Dell Computer


Internet technology initially created a climate where venture capitalists were quite willing to fund start-up enterprises with most any possible idea and business plan.

The First-MoverThe First-MoverFirst movers that developed

snazzy and useful websites, generated high and growing traffic volumes from both repeat and first time users, built widespread name recognition and a strong new economy brand name, and cultivated websites loyalty with fresh feature and product offering for first time.

First Mover AdvantagesFirst Mover Advantages

High switching costs on the part of site user

Net work effects (where a site’s feature became more valuables as more people used them)

Market leader

Strategic Mistakes Made By Strategic Mistakes Made By Early Internet EntrepreneursEarly Internet Entrepreneurs While revolutionary new technology

often give entrepreneurs room to experiments with fresh strategies and business models, the rise of the internet to center stage in the economy during the 1990s resulted in an unusually large number of new business models and strategies, some of which violated fundamental business principles. The following sections look at a few of the strategic mistakes made by the early internet entrepreneurs.

The Mistake of Ignoring Low The Mistake of Ignoring Low Barriers to EntryBarriers to Entry

Low entry barriers signal a strong threat of potential entry and nearly always produce a net gain in the number of competitors.

E-commerce business models E-commerce business models and strategies for the futureand strategies for the future

.

How best to make internet How best to make internet fundamental part of their fundamental part of their businessbusinessIt is thus worthwhile to take a

hard look at what kind of business model and strategies are attractive in the maturing internet economy what strategies principle need to be observed. is the combination brick and click model likely to be a good strategic positioning option.

Business model and Business model and strategies for pure dot -com strategies for pure dot -com enterprisesenterprises the internet does not make the

rules of competition obsolete nor does it allow companies to ignore sound business fundamentals and strategies making principle just like traditional companies online companies must carefully analyze industry and competitive conditions and craft strategies well matched to these conditions.

Successful dot -com Successful dot -com strategies strategies A distinctive strategy that delivers

unique value to buyersBuild to order productConvenienceSuperior product information Attentive online service

Differentiation or lower costs Differentiation or lower costs or better value for the or better value for the money money Deliberate efforts to engineer a

value chain that enables differentiation lower costs this mean employing strategies and value chain approaches that hold potential for low cost leadership

Clear focus on limited number of competencies and relatively specialized number of value chain activities

Strong capabilities in cutting – edge internet technology

Innovative marketing techniquesMinimal reliance on ancillary

revenueAn innovative fresh an entertaining

website

The issue of broad versus The issue of broad versus narrow product offerings narrow product offerings Online sellers have to make

decisions about how to position themselves on the spectrum of broad versus narrow product offerings a one stop shopping strategy like that employed by amazon.com have a wide number of items and a large customer base

The order fulfillment issue The order fulfillment issue Another big strategic issue for dot-

com retailers is whether to performs order fulfillment activities internally or to outsource them building central ware houses stocking them with adequate inventories and and developing a system to pick pack and ship individual orders but may result in lower overall unit costs than would paying the fees of orders fulfillment specialists.

Opportunities for Opportunities for unconventional business unconventional business models and strategiesmodels and strategiesSubscription fees Transaction feesPay per use

Brick and click strategies Brick and click strategies Many traditional retailers using the

internet as a substitute for shopping at a local stores have opened their own online shopping sites. Toys r us for example has launched a web site to combat etoys and other online toy merchants

Now offers the customers the option of trading online to discourage commission sensitive customers from moving their accounts to cheaper online .

Option of shopping either online or in stores.

Competition from pure online retailers especially when customers sometimes want to see and touch a product before making a purchase .

In banking system brick and click strategy

Brick and click strategies Brick and click strategies have two big appealshave two big appealsExpanding a company

geographic reachThey give both existing and

potential customer another choice of how to communicate with the company product information make purchases or resolve customers service problems

Internet strategies for Internet strategies for traditional businesstraditional businessThe real strategic issues for a

traditional business boil down to two things

What specific internet applications to implement

How to make the internet a fundamental part of its strategy

Some companies use internet applications for improve the following things

Operational effectiveness Value chain efficiencyPrimary distribution channelAs secondary distribution

channel

The internet related The internet related strategiesstrategiesOperating a website that provide

existing and potential customers with extensive product information

Distribution channel partner handle orders and transations

Sites informs the visitors where nearby retail stores are located

This is an attractive marketing positioning option

A manufacturer efforts to try to use its website to sell around its dealers is certain to anger distribution channel many of whom may stock the brand of several manufacturer may to lose more sales through its dealers than its gain online sale efforts

Use online sales as a Use online sales as a relatively minor distribution relatively minor distribution channelchannelAchieving incremental sales Gaining online sales experienceDoing marketing researchLearning more about buyer taste

and preferencesTesting reaction to new products

Employing a brick and click Employing a brick and click strategy to sell directly to strategy to sell directly to consumersconsumersReduces the costsallowing the customer to

download their softwareBigger profit marginsIt help to educate the buyer

Making greater use of build Making greater use of build to order manufacturing to order manufacturing Reduce delivery timeInternet sites permits motor

vehicle shoppers to select the models colors and optional equipment

Online music already have options

Building systems to pick and Building systems to pick and pack products that are pack products that are shipped individuallyshipped individuallyContracting with order fulfillment

specialist to handle this function order fulfillment is important for companies that opt for brick and click strategies

Case StudyCase Study

IntroductionIntroduction

Internet:

“Internet is an integrated network of users connected computers, digital switches and routers, millions of servers and telecommunication equipments and lines”.

Users:

400Millions (2001)

700Millions (2003)

Main Companies Involved in Main Companies Involved in music industrymusic industry

Sony CorporationAmazon.comMp3.comNapster

Sony CorporationSony Corporation

Founded in 1946 in JapanIt was most comprehensive

entertainment company in the world.

It was leading Manufacturer of Audio, Video, communication and technology products for consumer and professional markets.

It was leading Music industry in united states.

Music listening was revolutionized by Sony by introducing a pocket size Walkman.

The Mp3 Threat to SonyThe Mp3 Threat to Sony

Mp3 offers no anti-privacy protection.It compress digital audio information to

portable size.It was offering free Mp3 music files and

software that can run those files easily.

Sony’s Reaction to Mp3Sony’s Reaction to Mp3

Sony started distribution of music on internet before this they were trading in only CD’s and record labels.

They reduce their prices from $9 to $2.60.They introduced copyright management

technologies.

Amazon.comAmazon.com

They started their business in 1995 with internet book selling.

Customer entering in Amazon.com can order books and other products, purchase gifts, browse highlighted selections and can check their order’s status.

It expands its product offerings to music stores in 1998. In third quarter of 1998 Amazon.com became the number 1 online seller of online Music.

Now they are holding 20% of market share.

Mp3.comMp3.com

It was a revolutionary approach to the promotion and distribution of music.

It uses internet and file formats that makes the music files smaller.

It is a free source for customer to download their desired music files.

In January 2000, the major recording companies sued Mp3.com for violation of copyrights.

NAPSTERNAPSTER

It is a world’s leading file sharing community. Its software applications enable users to locate and share media files.

It allowed anyone to reach out to any other computer and get files from it.

Users can log on to central directory and identify the song they wanted.

RIAA claimed that Napster harmed the industry by slowing CD sales.

Case StudyCase Study

Question No.1Question No.1

What competitive forces seem to have the greatest affect on the industry

attractiveness from the stand point of Music companies and record labels?

Competitive forcesCompetitive forces

The impact on competitive rivalryThe impact on barrier to entryThe impact on buyer bargaining powerThe impact on supplier bargaining powerThe impact on seller-supplier collaboration

The impact on competitive The impact on competitive rivalryrivalry

•There is wide geographic market, so the rivalry among competitors become increased.•Elimination of Geographical protection of distance. In traditional business local vendor was the only personnel who was providing facilities to the entire society. Now this business has been expand to world wide.

Contd.Contd.

Freshly launched E. commerce strategies among competitors. Now competitors can adopt their competitive strategies to attract more customers. They can improve their strategies according to their competitors.

The impact on barrier to entryThe impact on barrier to entry

Low barrier to entry in e. commerce. As internet is easier source to expand markets.

Easy availability of software for making websites. Now each and every person can build and maintain his business website by himself.

Only barrier is to create awareness and increase traffic on websites. For awareness company has to provide all relevant information about their products and services.

Contd.Contd.

For traffic generation company adopt promotional strategies on different search engines. It pays commission to search engines that their website should be on the first page when a customer made his attempt to search.

The impact on buyer bargaining The impact on buyer bargaining powerpowerInformation about competing products and

brands. Due to internet facility information about different competing brands has been increased. Now customer can compare the prices, quality, and other competitive attributes of goods and services and he goes to that product which provide him higher quality at lowest cost.

Websites provide 24*7 facility to access the company and provide facility to their customer to place their desired orders at any time.

Facility to manufacturer. Wholesale, retailer to buy and approach desirable vendors.

Contd.Contd.Person who has knowledge of market,

product, quality and who is price conscious has higher bargaining power because the informative customer can switch to competitor’s product if he finds that product according to his needs.

The impact on supplier bargaining The impact on supplier bargaining power.power.Facility to organization to reach the best

supplier by increasing efficiency and reducing cost. Due to expansion of market supplier can target his most appropriate audience.

Facility to indentify foreign supplier & then involved him in supply chain.

Supplier have wide access to buyers in online business.

Eliminating difficult process of E-mail and Fax.

The impact on seller-supplier The impact on seller-supplier collaborationcollaborationEffective relationship between supplier and

seller & easy access.Company will continue buying , if a seller

provides best values.Collaboration of inbond logistics.


What are the major underlying causes of change in the music industry? How might driving forces change the music industry?

Major underlying forcesMajor underlying forces

Huge size of market.Access to free music.Incentive to artists.Convenient shopping.Overall cost.

Huge size of market.Huge size of market.

Huge size of market make it easy to target those customers which were not provisionally being reached. Traditionally meetings with demand of customers was not easy and efficient. Now company can sell its music to local as well as in international markets. There is wider segment of customers worldwide.

Access to free music.Access to free music.

use of internet to access free music. There are several companies which are providing free access to any type of music to all customers. There is no need to pay subscription charges.

Incentive to artists.Incentive to artists.

Internet has great incentive for artists. Artists are being paid royalties for their music by different companies like Sony, and amazon.com etc.

Greater feedback from customers.Music concerts in different worldwide areas.

Convenient shoppingConvenient shopping

Internet is providing Convenient shopping facility to its customers. Online shopping provides time saving facility to businesses and customers.

The only problem in online shopping is lack of privacy.

costcostChange in cost of purchasing music.

Traditionally Sony was selling its CD’s in $19 but due to online shopping its cost has been reduced to $6.

Driving forcesDriving forces

Globalization is major force. Internet has expand market to worldwide. So music industry has also expanded its business to huge market of customers.

Globalization has great affect on awareness. Due to this customer can get easy access to all types of information.

Marketing innovationMarketing innovation

Marketing innovation is also a major force. Innovation is the heart of a Business. If a business wants to be in market than it has to made continuous innovations in its products and services as well.

Product innovation and technological Product innovation and technological advancementadvancementProduct innovation and technological

advancement is a major driving force too. Examples are Mp3 and Napster.

Online music industry like Sony made continuous innovations in their product and they are trying to made it available in all formats of music.

Free access to internetFree access to internet

Now a days each and every person has free access to internet.

Customers now want to have customization in their products.

They want to have free music rather than pay any subscription.

Culture and attitudeCulture and attitude

Online music companies are providing music facilities according to culture and attitudes of customers. They are targeting their customers according to their life styles and social values.

Regulatory influenceRegulatory influence

Regulatory influence is also included in major driving forces. Number of artists made a sue on different music companies for lack of royalties and copy rights.


What is the appeal of a business model based on internet distribution of music? How

does a business model based on internet distribution differ from a traditional business

model in the recorded music industry?

APPEAL OF BUSINESSAPPEAL OF BUSINESS

2 Types of AppealsFunctionalEmotional

FunctionalFunctional

All the functions that a business is providing to attract its customer

Emotional

Appeal that enhances internal motivation that is called emotional appeal.

The internet had transformed the rules of the The internet had transformed the rules of the music industry. New entrants were changing music industry. New entrants were changing the rules of the game and forcing traditional the rules of the game and forcing traditional players to reevaluate their strategic options.players to reevaluate their strategic options.

““THE TRADITIONAL BUSINESS THE TRADITIONAL BUSINESS MODEL”MODEL”

Andrew Atherton said in the report “Music Online Future”:

The “real world” music stores and the current giants of the music industry will find themselves in the line of fire as the internet squeezes out the middleman. Major labels will concentrate on volume marketing and promotion of an artist and their core competency. The role of the internet will be discovering the artists. It is no secret that the music industry had been diligently fighting music piracy in the United States and around the world, but its slow pace in embracing new technologies and streamlining its own industry was the reason why the problem became so prevalent.

““SIX MAJOR PLAYERS”SIX MAJOR PLAYERS”

There were six major players: Bertelsmann, EMI-Capitol, Universal, Polygram, Sony music, and Warner Music. These companies controlled distribution and marketing channels, making it an uneven playing field for smaller labels.

It seemed that the music giants were aware of the possibilities and technologies, but were hesitant to embrace a digital system that would endanger the current retail model. However the internet demonstrated its power to force change on even the most entrenched industries. Digital distribution became inevitable due to the internet.

““THE NEW BUSINESS MODEL”THE NEW BUSINESS MODEL”

The internet had made it easier to acquire free or cheaper music by expanding the connectivity to a world wide population. Beyond creating an alternative to the traditional dissemination of music, the internet offered artists increased ease of exposure to the music buying public. The low cost of entry and the possibility to communicate with an enormous market of potential consumers meant that there was increasingly little need for record labels, as artists themselves could produce and market their own music.

Contd.Contd.

A survey commissioned by the digital music distribution industry found that nearly 80 percent of respondents would buy more music if they had immediate information about the artists and the titles of the songs, more than 60 percent would purchase more music if they could buy a song as soon as they hear it, more than 80 percent wanted to buy songs individually, and of those who regularly listened to music on the internet, one third were more likely to purchase CDs in stores after hearing the music online.

Music distribution on internet had Music distribution on internet had taken two forms:taken two forms:

1) Ordering via internet with delivery via mail and,

2) Direct digital downloading.

HOW DOES A BUSINESS MODEL HOW DOES A BUSINESS MODEL BASED ON INTERNET BASED ON INTERNET DISTRIBUTION?DISTRIBUTION?

The growth of Internet based businesses, popularly known as dot coms is anything but meteoric. It has dwarfed the historical growth patterns of other sectors of the industry. Over years, several organizations doing business through the Internet have come out with their own set of unique propositions to succeed in the business. For instance Amazon.com demonstrated how it is possible to "disinter mediate" the supply chain and create new value out of it. Companies such as Hotmail, and Netscape made business sense out of providing free products and services.

Contd.Contd.

On the other hand companies such as AOL and Yahoo identified new revenue streams for their businesses. It is increasingly becoming clearer that the propositions that these organizations employed in their business could collectively form the building blocks of a business model for an Internet based business.

HOW DOES A TRADITIONAL BUSINESS HOW DOES A TRADITIONAL BUSINESS MODEL BASED ON INTERNET MODEL BASED ON INTERNET DISTRIBUTION IN THE RECORDED DISTRIBUTION IN THE RECORDED MUSIC INDUSTRY?MUSIC INDUSTRY?

The music industry is a complex system of many different organizations, firms and individuals, too complicated to be described completely here. The music industry has also undergone dramatic changes in the 21st century and the current business structure is in the process of changing.

RECORDED MUSICRECORDED MUSIC

There are three types of property that are created and sold by the recording industry: compositions, recordings and media (such as CDs or MP3s). There may be many recordings of a single composition and a single recording will typically be distributed into many media.

““TRADITIONAL ONLINE BUSINESS TRADITIONAL ONLINE BUSINESS MODEL”MODEL”

For the time being, the perspectives of the online digital music market were rather deceiving. According to an estimate, the legitimate downloads and digital subscription models yielded less than $1 million in global revenue in 2001 . But the opportunities could be huge. According to an estimate, the European online music market represented € 323 millions in 2000 and was estimated to reach € 2 billions in 2006, divided by 63% in sales of CDs and 37% through digital distribution. According to this estimate, it means that by 2006, the digital distribution music market should represent € 463 million in subscription sales and € 321 million in downloads sales.

““DISTRIBUTION MODEL”DISTRIBUTION MODEL”

The business strategy is based on the premise that most people investing in online music want to be selling and far fewer are interested in distribution. It is an online music rental service offering to the consumer the opportunity to stream whole catalogs of music before selecting the ones they want to rent for a fixed price as time-limited downloads.


What does the value chain of recorded music industry look like? How does internet distribution of music shorten the industry value chain? Is an industry value chain that includes free internet distribution of music ethically flawed?

Value chain of recorded music Value chain of recorded music industryindustry

Artists & repertoire development.RecordingManufacturingMarketingDistributionRetail

Artists & repertoire developmentArtists & repertoire development

Record labels advances money to develop brands, musical repertoire, promotion and arrangement of concerts and tours.

RECORDINGOwn recording studios. Traditionally

companies have their own studios where they record music of any artist and then make copies of that music in different formats e.g. CDs and DVDs.

May outsource this link.

MANUFACTURINGMANUFACTURING

Physical manufacturing of CD’s consists of 10% of total production cost.

High seasonal variability in cost. On Christmas and Easter the demand for religious music increases and overall cost of company decreases due to high production of music volumes.

MARKETINGCost for print media, TV advertisement.Promotional events.

DISTRIBUTIONDISTRIBUTION

Distribution consists of 40% of total production cost.

Packaging and physical transportation of CD’s.

RETAILING

Major labels and internet superstores e.g. Amazon.com is performing this type of retailing activities.

Short industry value chain due to Short industry value chain due to internetinternetPowerful supply chain management. Sony

has its own powerful distribution network and it has its own outlets. From where customers can get easy access to any type of music in short span of time.

Checking material inventory through soft wares. Different software are made that are involved in checking the demand and supply requirements of music.

Contd.Contd.

Just in time delivery direct to consumer. On internet customer can surf its desired music and can download it within no time.

product performance system. Companies always collect feedback from customers to check their performance status. If they found any deficiency in process then they can try to overcome that problem.

Ethical background of internet musicEthical background of internet music

Free internet distribution of music is unethical activity. Because companies have to pay royalties.

Parent company doesn't get its profit due to free distribution. Due to free distribution their sales decreases and sales have ultimate impact on profit. When company will pay low margin to artists than they will shift to other competitors.


How have the industry’s providers of recorded music positioned themselves? What does your strategic group Map of the music

industry like? Which strategic group positions are threatened by the change swirling in the industry? Where on the map will the future

industry leaders need to be? Do some companies need to think about changing to a different strategic group or a different position

on the grid?

Group PositionedGroup Positioned

Sony is traditional record label distribution net work.

Cost of accessing Music is high for customer.

Amazon.com is superstore and prices are medium or often available at discounted rate.

Contd.Contd.

MP3 is cheapest for customer because it is free to be enter here.

Napster and Gnutella are in the peer to peer file sharing. Cost is low because customer can share files.

StrategicStrategic GroupGroup

A strategic group is a concept used in strategic management that groups companies within an industry that have similar business models or similar combinations of strategies.

Strategic Group MapStrategic Group Map

I chosen two variables for my strategic group map.

1 . Distribution Channel

2 . Cost of Accessing to Music

Strategic Group MapStrategic Group Map

Distribution Channel

Difference Between channels of Rivals.

Cost of accessing to Music

Purchase directly effects the success of industry and artist.

ThreatenedThreatened

Sony have to gain more presence in industry otherwise it will be existed.

This can be done through developing digital tech or selling at discounted rate.

Changing in MapChanging in Map

Artists are not agree with Sony to sell music on discounted rate.

Amazon.com is good in Map. They showed continue with current strategy.

MP3 may have to increase cost so that adequate royalties to artists.

Napster and Gnutella may also have and pay royalties . But increase price may cause of loss of customer.

LeaderLeader

Sony should be leader in marketing, promotion and distribution. Sony should increase its marketing efforts to attract more new customers and artists. They have to minimize its production cost and discounted prices should be available for customers.


What music providers seem best positioned to survive industry changes? What do you think this industry will look

like in 2005-2007? What are your specific predictions about what the structure of this industry will be like in 2005-2007?

Which music power providers do you think will end up as industry leaders in 2007?

Best music provider positionBest music provider position

We feel Amazon.com is currently at best strategic position because they are capturing customer by selling Music at discounted prices and are still maintain their ethical responsibilities by ensuring return of loyalties to its stakeholders.

2007 Music2007 Music

Us album sale = 9.7 %Sales of songs was 45% but lower as

compared to 2006 that was 65%Album sales was $ 584.9 million unit 2007.Album sales was $ 646.4 million unit 2006.There was decline in sales.Universal Music was having US largest

market share 31.9% in 2007 but in 2006=31.6%

Now Global sales are $ 37 billion.

Industry leader in 2007Industry leader in 2007

Amazon.com will be the leader at the end of 2007 because it using the discounted prices strategies to its customers. The other firms should move towards this strategy. If I am being asked to invest then Amazon would be the best option.

conclusionconclusion• In this case study four companies are discussed that are dealing in music distribution and providing facilities to customers to get their desired music from their main web pages. They can easily download music from the available sites.• According to our perspective the amazon.com is the best company that is providing music facilities to its customers. They have the ability to satisfy the customers needs and wants.

Contd.Contd.

• If other companies want to become leader in the market than they should need to change their current strategies.

The ENDThe END

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