Artist Management Final

Marketing

overall plan to develop audience awareness

Wants

shaped by technology, social forms, economics, and novelty and then that is converted into us paying money in exchange for music

Behavioral Segmentation

division based on consumer knowledge, attitude usage, and product characteristics 

Advertising

paid communication to the target audience

Environmental Analysis

analyzing the internal, market, public, competition, and macro environment

each is analyzed using these methods- objective development, strategy to achieve the objectives, organizational structure, review, and SWOT analysis

Mission

Firms exist to accomplish some purpose which is answered by defining what the business is, who the consumer is, and what the business should be

Product-differentiated Marketing

 offer different products for different audiences

Strategy Formulation

forming an objective or goal for a marketing plan

Geodemographic Segmentation

a combination of geographic and demographic data

Brand

identify a product and distinguish it from competitors 

Brand Asset Valuator

Differentiation, relevance, esteem, knowledge

Attribution-Based Method

a method used to determine how effective each marketing activity has been to customers

Brand Symbol

Cartoon characters or symbols

Publicity

endeavors to build a mutually beneficial relationship between and artist and their public. it is an indispensable part of the image development and branding of an artist

Reputation Management

the practice of influencing how people think about a business or brand

Principles

universal and absolute behavior (freedom of speech, civil liberties)  

Moral Management

when decisions are made not because it is legally required but because it is the right thing to do

Amoral Management

a managing style where manager may behave selfishly because they are not considering their impact on others even if it is not intentional

Code of Conduct

a set of values, rules, and principles that outline what is expecting of those you are working with

Conflict of Interest

acting in a way that is not beneficial to the people you are working for or their interests

Marketing Management

the purpose of a business is to create and keep a customer. To do that you have to produce and deliver goods and services that people want and value at prices and under conditions that are reasonably attractive to those offered by others to a proportion of customers large enough to make those prices and conditions possible

Needs

a necessary duty or obligation

Volume Segmentation

if the usage rate is light, medium, or heavy

Promotion

unpaid communication to the target audience

SWOT

Strengths, weakness, opportunities, threats

Mass Marketing

attracts everyone

Target Marketing

concentrating marketing to a specific group of people

Marketing Mix

company coordinate four marketing channels- product, price, place, promotion

Psychographic Segmentation

division by psychological parameters (social class, personality, interests, opinions, lifestyles 

Brand Personality

how a brand expresses itself. does this sincerity, excitement, sophisticated, competence, authenticity

USP

specific attributes associated to brand (unique selling proposition)

Public Relations

Management function which evaluates public attitudes and identifies the image and art of an artist with the public interest and executes a program of action (and communication) to earn public understanding and acceptance

Brand Slogan

offers extra information to the purchaser beyond the name of the symbol

Media Monitoring

a PR tool that can help analyze the success of a public figure or PR campaign to understand the public’s reaction

Ethics

the study of what is right and what is wrong and of moral obligations

Standards

rules to measure ethical behavior (fairness, kindness, good behavior)

Values

socially enforced norms (integrity, accountability, trust) 

Immoral Management

knowingly making selfish decisions or choices not in the best interest of the client

Artist Plan

a document that lays out your plans for an artist’s success and growth as a brand

Exit Strategy

establishes the steps for an end to the current manager/artist relationship and have no specific timeline