Artist Management Final

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40 Terms

1

Marketing

overall plan to develop audience awareness

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2

Wants

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

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3

Behavioral Segmentation

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

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4

Advertising

paid communication to the target audience

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5

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

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6

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

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7

Product-differentiated Marketing

 offer different products for different audiences

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8

Strategy Formulation

forming an objective or goal for a marketing plan

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9

Geodemographic Segmentation

a combination of geographic and demographic data

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10

Brand

identify a product and distinguish it from competitors 

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11

Brand Asset Valuator

Differentiation, relevance, esteem, knowledge

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12

Attribution-Based Method

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

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13

Brand Symbol

Cartoon characters or symbols

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14

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

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15

Reputation Management

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

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16

Principles

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

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17

Moral Management

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

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18

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

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19

Code of Conduct

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

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20

Conflict of Interest

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

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21

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

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22

Needs

a necessary duty or obligation

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23

Volume Segmentation

if the usage rate is light, medium, or heavy

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24

Promotion

unpaid communication to the target audience

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25

SWOT

Strengths, weakness, opportunities, threats

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26

Mass Marketing

attracts everyone

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27

Target Marketing

concentrating marketing to a specific group of people

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28

Marketing Mix

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

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29

Psychographic Segmentation

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

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30

Brand Personality

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

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31

USP

specific attributes associated to brand (unique selling proposition)

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32

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

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33

Brand Slogan

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

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34

Media Monitoring

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

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35

Ethics

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

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36

Standards

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

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37

Values

socially enforced norms (integrity, accountability, trust) 

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38

Immoral Management

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

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39

Artist Plan

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

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40

Exit Strategy

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

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