 Sample Market Analysis for BreakthroughBand.com
The Breakthrough Band Blog is positioning within the music industry between the musicians and the marketing professionals. There are a multitude of blogs and web sites that analyze, review and promote various bands, songs, and industry trends. While each of these aspects will exist at Breakthrough Band, the primary purpose here is to collect information, analyze it, and present to a specific target audience. From a market perspective, we are creating another link from industry professionals to aspiring musicians looking to start a band or market a band.
The service provided by Breakthrough Band is currently a free service to the consumers. When we look at buying power, there are many ways that an aspiring musician can gather information, advice, tips, and direction. As Breakthrough Band is currently building a collection of ideas and opinions, there is no demand groundbreaking enough to warrant a charge to consumers. With growth, Breakthrough Band will begin to offer deeper connections and more tailored advice, and create additional advertising demand. These things will reduce buyer power.
At this point, Breakthrough Band is not yet positioned to undertake in-depth projects that require supplier information, subscriptions, or connections. There are plenty of news sources, online magazines, blogs, and media outlets to provide content for Breakthrough Band. Until these resources are exhausted or redundant, there is very low supplier power targeting Breakthrough Band. With growth, Breakthrough Band will seek more exclusive information outlets which will go hand in hand with a reduction in Buyer Power.
The main distinction in competitive rivalry with Breakthrough Band is quality. A consumer can find the same information at Breakthrough Band elsewhere on the internet, however, these sites range in quality of information and quality of the organization. Breakthrough Band will continue to improve quality and be the premier free source of “How to Start a Band” content. At the same time, there are various web sites and organizations that offer unique content, expert advice, and intriguing connections which have an impact on the service Breakthrough Band provides. These resources typically offer services at a cost, such as subscriptions to magazines, direct product reviews, VIP access, or tailored marketing expertise. This is the direction that Breakthrough Band will pursue in the long run.
Type in “How to Start a Band” into the Google Search Engine and you will see thousands of results. However, what you will not find often is in depth discussion into the question. Sure, there is competition and theoretically anyone with a connection and some internet savvy can mimic Breakthrough Band. The challenge here is not to necessarily be unique, but be better (more detailed, more polished, more honest, and more organized) than the competition. If the quality is the best and the relationships are second to none, the threat of new entry is weakened. If Breakthrough Band can offer an organized one-stop-shop for relevant information for aspiring musicians, the threat of substitution drops as well. |
