Polyphonic HMI: Mixing Music and Math Harvard Case Solution & Analysis

Polyphonic HMI: Mixing Music and Math Case Study Solution

Legal factors

The protection laws of copyright are supreme within the music industry. Making adaption, copying, public issuing, public performing and board casting are illegal until and unless the copyright owner permits for any of the particular activities to be cone.

Environmental factors

The companies within the music industry are required to use the natural resources for the purpose of making the diverse styles for the music labels & covers, hence the music industry would be able to produce the DVD and CD with the high quality material used. One of the environmental issue is the energy consumption for the music experience, so the going concern for the music industry is how much carbon footprint need to be developed.

Quantifying Value of Hit Song Science (HSS)

Yes, we can quantify the value of the newest technology i.e. Hit Song Science (HSS) by evaluating the potential of music industry. Since the Hit Song Science (HSS)have generated remarkably high scores for the jazz singer. Also, it is identified that in the United States market, the growth of the sales is falling as it can be seen in exhibit in 3b, the annual growth in unit sales is -10.4 percent, which means that the situation tend to weakens the while music industry in united states as a while, also it opens the door to change of pattern in ways through which the executives of the industry would easily predict the future hits.

Also, there is a likelihood that the Hit Song Science (HSS) would be highly acceptable in the market as it is a music recommendation system. The idea tend to develop the device that is placed in the music stores, which in turn helps the retailers in increasing sales.

Notably, it can be said that the Hit Song Science (HSS) would provide a foundation for improving the odds of the success in the industry in radical manner due to the fact that the Hit Song Science (HSS) success rate is 80 percent as suggested by the analysis in the past six months in US.

Pricing of the Product

It is recommended that the company should use penetration pricing for the artist, contract pricing for the producers and the royalty fees strategy for the record label.

Product positioning

The product would be positioned through market research and the focus group. The company would use the target record companies. The positioning strategy of the company would most likely be based on three core factors which are provided below:

  1. Reliability
  2. Practicality
  3. Efficiency

In addition to this, it is noteworthy that the company need to concentrate its marketing campaign on the success rate which is 80 percent due to the fact that it would help the labels in a cost savings (eliminating cost of marketing because of the release of the unsuccessful songs). Hence, there is a likelihood that the label would be investing in the future hits and would not lose money in those songs that does not have enough potential to become hit.

Marketing of product

It is to highlight that the polyphonic should focus on the labels segment due to the fact that this segment has enough potential and highest possibility to gain revenue rapidly in bigger quantities and needs to guarantee the long customer circle life as well.

In addition to this, It is significantly important for the company to address directly to the record labels (B2B), not only this it should also give free demonstration for each majors (1-2 album/ major) so that it would most likely persuade the labels, and it would also prove the efficiency of the HSS product.

Suitable Marketing Plan

Product:

Polyphonic HMI tend to analyze the characteristics of the music via advanced software for the purpose of determining if the song has the potential hit. The Hit Song Science (HSS) analyze the mathematical characteristics of the music in order to predict the hot potential in future.

Price:

Artist: penetration pricing

Producers: contract pricing

Record label: royalty fee strategy

Place:

It should be available to the labels since those label would most likely showing interest. The organization would uses is ties to the music industry in order to meet the label executives as well as demonstrating the technology. It is to say that the label would be able to access the system via polyphonic HMI.

Promotion:

The personalized promotional strategy such as competitive and desirable would be used. The company need to take the promotion initiative via one to one consultation with the record labels and personal selling with the incentive of the volume discounts...........

 

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