Elvis Presley was a prominent artist who is remembered by many for his unrivaled talent. The Elvis Presley Enterprises (EPE) is a corporate entity that conducts businesses and manages assets relating to Elvis Presley. As was Elvis, the Elvis Presley Enterprises is also a very a magnificent company that was utmost successful in marketing whatever they had to sell. Of course their success was definitely not by luck. Instead, they utilized whatever marketing techniques available. There are many factors that enabled the Elvis Presley Enterprises to remain profitable as well as satisfy the consumers in the marketplace.
First of all, EPE is able to remain profitable because it fully utilizes the marketing mix: The 4 P’s, which are Product, Price, …show more content…
The social and cultural states are examples of stimuli in the consumer’s environment that may affect their characteristics and decision process. This may influence consumer’s buying attitude and preferences. (Kotler & Armstrong, 2013) Elvis’s impact to the music industry was so incredible that the Rolling Stone encyclopedia of Rock and Roll described him as “an American music giant of the 20th century who single-handedly changed the course of music and culture in the mid-1950s.“(reference 1) People saw his recordings, dance moves, attitude and clothing as a symbol of rock and roll. This cultural impact influenced enough people that more than 300 Elvis Presley fan clubs were formed globally. Besides, Graceland gained attention through a studio album titled “Graceland” by American singer-songwriter Paul Simon. This form of promotion might have attracted many consumers to visit Graceland considering there are over 600,00 visitors annually. Elvis also has a high social status. Society saw his death as a tragic event. In rememberance of Elvis’s death, people want to do something special. That is why Graceland ticket sales boosted during the anniversary of his death. Graceland recorded 750,000 visitors in 1995 during Elvis
First of all, EPE is able to remain profitable because it fully utilizes the marketing mix: The 4 P’s, which are Product, Price, …show more content…
The social and cultural states are examples of stimuli in the consumer’s environment that may affect their characteristics and decision process. This may influence consumer’s buying attitude and preferences. (Kotler & Armstrong, 2013) Elvis’s impact to the music industry was so incredible that the Rolling Stone encyclopedia of Rock and Roll described him as “an American music giant of the 20th century who single-handedly changed the course of music and culture in the mid-1950s.“(reference 1) People saw his recordings, dance moves, attitude and clothing as a symbol of rock and roll. This cultural impact influenced enough people that more than 300 Elvis Presley fan clubs were formed globally. Besides, Graceland gained attention through a studio album titled “Graceland” by American singer-songwriter Paul Simon. This form of promotion might have attracted many consumers to visit Graceland considering there are over 600,00 visitors annually. Elvis also has a high social status. Society saw his death as a tragic event. In rememberance of Elvis’s death, people want to do something special. That is why Graceland ticket sales boosted during the anniversary of his death. Graceland recorded 750,000 visitors in 1995 during Elvis