Polyphonic Hmi: Mixing Math and Music
Executive Cover Memo
Subject: Polyphonic HMI: Mixing Math and Music
This is to recommend that Hit Song Science should market its product and services to record labels attempting to catch a larger share of the market.
BACKGROUND
Polyphonic HMI is preparing to launch Hit Song Science, which analyzes the mathematical characteristics of music compared to past music hits, making it possible to determine a song’s hit potential. Music characteristics can be analyzed by math such as melody, tempo, pitch, rhythm, etc. because hit songs have common mathematical properties. Polyphonic’s Hit Song Science could be valuable for three target markets: record labels, producers, and unsigned artists. There are benefits to marketing HSS to all three markets. Once a decision is made on the target market, a suitable marketing plan will need to be developed.
RECOMMENDATION
Polyphonic should target Hit Song Science to record labels. Universal’s North American market share is so dominant that other record labels including EMI, BMG, Sony, Warner, and the Independents are dwarfed in comparison. This leaves a large market for Hit Song Science’s services. Polyphonic will have a selling price of $150 per song, or $1500 per ten-song album. HSS will be promoted as a commitment to success.
NEXT STEPS
Polyphonic now needs to review the A&R Registry that they have acquired and start getting in contact with the A&R people at the major and independent labels. Once they have made contact with the record labels, Polyphonic then needs to start promoting HSS to them. If it is necessary, free trial offers and price discounts will be offered.
Table of Contents
Situation Assessment…………………………………………………………………………...1
SWOT……………………………………………………………………………………………1
5 C’s……………………………………………………………………………………………...2
Defining Problem/Decision Area………………………………………………………………3
Identification and Evaluation of Alternatives……………………………...………………...3
Recommended Course of
Subject: Polyphonic HMI: Mixing Math and Music
This is to recommend that Hit Song Science should market its product and services to record labels attempting to catch a larger share of the market.
BACKGROUND
Polyphonic HMI is preparing to launch Hit Song Science, which analyzes the mathematical characteristics of music compared to past music hits, making it possible to determine a song’s hit potential. Music characteristics can be analyzed by math such as melody, tempo, pitch, rhythm, etc. because hit songs have common mathematical properties. Polyphonic’s Hit Song Science could be valuable for three target markets: record labels, producers, and unsigned artists. There are benefits to marketing HSS to all three markets. Once a decision is made on the target market, a suitable marketing plan will need to be developed.
RECOMMENDATION
Polyphonic should target Hit Song Science to record labels. Universal’s North American market share is so dominant that other record labels including EMI, BMG, Sony, Warner, and the Independents are dwarfed in comparison. This leaves a large market for Hit Song Science’s services. Polyphonic will have a selling price of $150 per song, or $1500 per ten-song album. HSS will be promoted as a commitment to success.
NEXT STEPS
Polyphonic now needs to review the A&R Registry that they have acquired and start getting in contact with the A&R people at the major and independent labels. Once they have made contact with the record labels, Polyphonic then needs to start promoting HSS to them. If it is necessary, free trial offers and price discounts will be offered.
Table of Contents
Situation Assessment…………………………………………………………………………...1
SWOT……………………………………………………………………………………………1
5 C’s……………………………………………………………………………………………...2
Defining Problem/Decision Area………………………………………………………………3
Identification and Evaluation of Alternatives……………………………...………………...3
Recommended Course of