Increasing Sony Corporation’s Record Sales
...a list of possible solutions to the problem of decreasing sales. We realize that other companies are also experiencing the same problem, but we plan on attacking it with full force and regaining the top sales we once had. The methods that we have come up with will hopefully help us to accomplish our goal and give us the lead in the industry. Decrease Compact Disk Prices One of the most general ideas that our groups decided on was that of the decrease in price of our compact disks. With CD’s being close to $18.00 at some locations we are only beginning to drive away our customers. With the new luxury of downloading any music on the Internet, teenagers and college students aren’t going to spend there money on a CD they can get it for free off of the internet. By decreasing our overall CD prices, more of our younger audiences may be inclined to support their favorite artists and buy their albums. Also through this idea, we will have an advantage over our competitors who continue to offer a higher price. Build A Larger Artist Base We are aware of our already large artist base. However, we feel that Sony has been lacking in the area of recruiting new artists. By opening our services more to receiving demo tapes from more people and from a more wide variety of backgrounds we would gain artists that could very well be an asset to our company. Sony’s Own Downloading Service In researching this problem we have discovered the outstanding number of people who are downloading music off the web. As a result of this, we have decided that Sony should create it’s own online music sharing service. For a flat monthly fee a person can have access to any of Sony artist’s albums. Along with the service, members will have special access to unreleased songs as well as updates on concert dates, new artists, and backstage information. We realize this won’t take the place of the free services out there, but we will hopefully attract a wide range of customers that have loyalty to their favorite singers and bands. Special Promotions and Offers Another solution that we believe will attract more customers is that of a wider range of promotions and special offers. Creating CD’s with an enhanced feature on it may attract more customers to buy our CDs. By offering special promotio...