BTEC Business Unit 2: Developing a Marketing CampaignWatch
Anyone doing BTEC level 3 Business studies?
Just quoting in Fox Corner so she can move the thread if needed
What you want to do is look for the following online:
- How big is the Vinyl Market in the UK?
- Is the market on the rise or is it declining?
- Who are the biggest competitors in the market?
- How heavily marketed is the vinyl market (Do you see adverts for vinyl products, where do you see these adverts, who do you think these adverts are targeted at?)?
- Who are the primary target audience for vinyl products (Young people, Middle aged people or the elderly?)
- How much of the music retail market do vinyl products consume?
- Is the vinyl market saturated (is there a lot of competition)
- Is the market segmented (Are there any innovations or variations of the product)
- What are the trends in the vinyl market?
- What are the most popular genres and brands in vinyl?
- What artists influence the vinyl industry?
- What types of media could vinyl companies use to advertise? (social media, TV adverts, newspapers, music magazines)
- What would the costs of advertising be? (how much is it to advertise on TV, social media and local newspapers)
- What are the external influences that could possibly influence the vinyl industry (e.g. an intense heatwave that melts the vinyl records or an international shortage of plastic)
These are the type of questions that you need to collect in your research?
To secure even more marks, it would be beneficial for you to collect primary (firsthand) research?
You will need to find out:
-How old are the people that buy vinyls?
-What is their gender?
-How often do they listen to their vinyl records?
-How much they vinyl records do they have?
-What motivated them to purchase these records (do they have sentimental value, did they buy them to include as a collectors item)
- Do they find it hard to purchase vinyl?
- How long have they been interested in vinyl?
- What makes them prefer to buy vinyl as opposed to streaming, downloading or purchasing music online?
- What would they change about vinyl if they were given the opportunity?
To take it even further it would be very beneficial to question vinyl outlets or retailers:
You may want to ask them:
- What made them decide to begin selling vinyl?
- How long have they been operating for?
- How do they deal with local competitors?
- How do they deal with online competitors? (such as Ebay and Amazon)
Any further questions you can think to ask would be perfect
If you can find a vinyl marketing campaign please consider:
- How much it would cost?
- How long the campaign would run for?
- What method of media would the company use to advertise their product?
- What the message of the advert was?
- What the 4 P's of the campaign is? (Price, Product, Place and Promotion)
- How appropriate the campaign is or was?
I know a lot of this information may be hard to find; but if we look hard enough i believe we can find answers. The primary research isn't compulsory if you do not have enough time to go and ask people about vinyl, you can always use secondary research. As for the vinyl retailers, you can call their numbers if you don't have the time to visit them in-store. I looked on google maps and was able to find 5 vinyl shops located very very close to each other; so you could talk about why that area has a lot of vinyl shops and compare the unique selling point of each of those shops.
Thank you for reading, I hope this helps
At first, I thought the topic they gave us was bad however, a lot of information can be found out about it online. I have already manage to get 4 out of the 6 pages of research we need.
this website has some information if you select the preview option when scrolled down
So sorry for the late reply, I've been quite busy recently.
So here are some of the links everyone was asking for. Sorry I couldn't have presented this in a more organised way but I'm currently in a bit of a rush.
(This link would have to count as secondary research if you choose to use it): https://www.reddit.com/r/audiophile/...vinyl_records/
Each of these web pages provide vital information that is crucial to the research that we need for our Unit 2 exam. Sorry I couldn't given you the information more explicitly but if I did we'd all have the same 6 pages of research.
Anyways, Thanks for all the support and I hope this was of some use to you!