Sample Essay

5876 Words Oct 17th, 2014 24 Pages
esonic: Strategic Analysis

Yerheem Cha● Beth Jones ●Seetal Patel ●Erik Pickard ●Mike White

University of Illinois Urbana-Champaign
Institute of Labor and Industrial Relations
September 2005
♦Executive Summary♦

In an attempt to reap the potential profits of the emerging online music industry, Sonic Records has established esonic, a subsidiary exclusively designed to serve as an online music store. In the wake of mounting anti-piracy campaigns concerning music downloads, increased demand for digital technologies that offer greater access and mobility, and an overall increase in consumer demand for access to digital media, esonic has a more than favorable forecast of success in entering the
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Utilizing a subscription model, esonic will be able to follow in the footsteps of Rhapsody or Napster, and provide one flat monthly fee for a specified number of downloads and or music streams. This will counter the need for esonic to join a price war on single downloads and offer an opportunity for loyal Sonic Record consumers to build an online music community via subscriber access to web-logs, user-postings, etc. Furthermore, a labor market assessment indicates that the demand for the type of workers necessary at esonic, which includes computer engineers, computer programmers, online marketing professionals, is growing both nationwide and regionally in Los Angeles, where esonic is headquartered. Setting an above market salary range for its employees will help to ensure that esonic attracts and retains the most talented employees, further increasing its likelihood of success in an increasingly competitive industry. Obtaining innovative marketing strategies, state-of-the-art software and web development technologies, and instituting a well-planned performance-based culture at esonic, will be the most successful way to establish esonic as a leader in the online music industry.

North American Industrial Classification System (NAICS)

Sonic Records, a leading recording studio and production

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