Starting a Business: Musical Instrument Dealership

Only available on StudyMode
  • Download(s) : 105
  • Published : April 18, 2010
Open Document
Text Preview
The Opportunity

Music has power to attract almost all the people. In a country like Bangladesh historically people have practiced music for a long time. That implies that musical industry can get only bigger and bigger in the future which should increase the demand of the musical instruments. And with only a few competitors the opportunity in musical instrument dealership and selling musical instrument can be really huge.

In our research we have observed that now day’s people are very brand conscious. Keeping that in mind we are introducing ESP Guitar for the first time in Bangladesh which is a very much renowned brand in the whole world. It is a Japanese brand who makes electronic guitars and basses. It is a very popular brand in many countries right now. ESP is well known for their stylist guitars and basses. Many popular rock and metal bands are using ESP recently and we believe it will be very popular in our country as well because there are number of rock and metal bands in our country now.

We are introducing this new brand because according to our analysis it will give us a competitive advantage over our competitors and it will also differentiate our company from all the major players of the industry. Apart from launching ESP in Bangladesh we are also offering installment system which should attract more students who are the main target customers of our company. With the help of the technical and management team of EBS we are also offering free servicing of the musical instruments.

Overall we can say that the opportunity in the music industry is huge. We believe we can capitalize this for our benefit. We intend to do that by our creative idea and meeting all the customers’ needs.

Products and Services
Tune and Play will sell new and used musical instruments and accessories. Our primary items will be electric and acoustic guitars, amplifiers and electronic keyboards, drams and some local instruments like harmonium, tobla and flute. In addition we will have a full service, on-site repair and customization department (band instruments, guitars and electronics). Tune and Play will offer several name brand instruments such as: • Electric and acoustic guitars by ESP.

• Bass Guitar
• Keyboards
• Pianos
• Drums
• Amps
• Mixer
• Microphone
• Processor
• Sound-Card
• Foot-Pedal
• Violin
• Saxophone
• A very well stocked accessory department to support the above items. In addition to complete repair services for our products, we will emphasize upgrades and customization items to develop other income streams our competitors have not considered. When carrying a brand name item conflicts with giving the customer the best all-around value, we will always pursue the product that best suits our client's interest.

Marketing Analysis
Target Market
Our main target customers are musicians who are ready to pay anything for their desired instrument. However within that musician customer, there are different segments, ranging from professionals, to semi-professionals, to hobbyists and novices. We intend to target musical novices, hobbyists, and semi-professionals. These groups include the largest percentage of musicians, with the greatest amount of disposable income. These market segments can generally be approached with the same marketing techniques, and can be very loyal when treated properly. We are also targeting the students of those schools where ‘Music’ is offered as a mandatory course to them. Moreover there are many music school are present at Dhaka, and the numbers are in rise. Reasons for Buying our Product

We are the only store in Dhaka who will offer ESP brand instruments for which musicians have a high demand. We will also offer the novice to semi-professional musician, the convenience of a wide selection, unique offers, experienced and reliable staff, and an educationally-focused community...
tracking img