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SWOT and PESTLE Analysis of Music Innovation

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A dedicated team local to Bournemouth, developing a software application that imitates the live mixing of a professional DJ from the comfort of your home.

A seamless mix of your favourite music. Utilising an upvote and downvote system, the software detects the music preferences of those with the app installed, as determined by the individual users of the app.

If the majority of people present set their preference to a style of music, the EarShot will create a setlist (the playlist of the event) appropriate to that taste.

If taste changes, then new preferences can be selected by individuals and, if upvoted, the new style of music will organically begin to feed its way into the mix.

This ensures that the music chosen reflects the mood of the occasion, much like a live DJ would do in ascertaining audience reactions to support their choice of music.

Allows other people with the app to make 'requests' to the 'Head DJ', meaning that others can influence the ambiance without having to personally ask the DJ; using EarShot instead. If more people want house music, then they can all begin to upvote the style.

The product is unlike others of a similar nature, such as Pyro by Serato, because additional features can be added to the 'DJ's mixing style' such as filter sweeps leading up to a 'drop' in the music, and also differs owing to the collaborative voting system it offers.

By allowing the majority of people present to decide the type of music that should be playing, it takes the burden away from a single person: no one person has to be in charge of the music.

The USP is the ability to communicate between multiple apps in order to influence the vibe of the event: EarShot can allow effortless changes to the mood if it is what most people want.(Wright, 1999)

Strength

  • EarShot will have cross-platform compatibility; in the business world, a growing trend called BYOD (Bring Your Own Device) means it can be used on any online device without having to convert data to a new format
  • EarShot will need to have a strong social music presence. Strategies will be put in place to connect with other services such as Pinterest, Instagram, YouTube, etc. This allows for promotion of the brand as consumers share their events and setlists on social media

Weakness

  • EarShot will encounter licencing issues with certain artists and record labels. For example, Spotify is still having issues with Taylor Swift over Spotify's terms so a similar issue may arise'
  • EarShot's main weakness will be making a profit as it will need to pay a substantial amount of its revenue to artists and record labels

Opportunity

  • EarShot will need to form partnerships with on-trend artists, producers, clubs and DJ's to promote the brand

Threats

  • A big threat to EarShot is hacking. The app will need to have robust security to prevent it becoming a backdoor onto consumers' devices for hackers
  • Rival apps already on the market such as Pyro as well as new apps could reduce EarShot's market share or wipe the company out completely

1. Political factors:

  • Trading policies
    • The aim is to ensure a good balance between copyright and relevant public policy objectives such as education, research, innovation, and the needs of persons with disabilities(Digital Single Market)
    • Use of songs with explicit lyrics if the users are under 18

2. Economic factors:

  • Disposable income of the target demographic
  • General taxation issues - EarShot will be subject to UK tax laws
  • Taxation changes specific to e-commerce products
  • Funding options - investors, crowd funding like Kickstarter

3. Social factors:

  • Advertising scenarios - brand image must be consistent and appropriate across all digital mediums
  • Ethical issues - responsibility towards upholding copyright laws in UK
  • Demographics - what is the target audience, how to appeal to the widest possible demographic without making the app feel 'cloying'
  • Views of the media - how to get publicity
  • Celebrity endorsement - can EarShot get big name DJs, or clubs, to endorse the app
  • Education - ease of use of the software for non-technical users

4. Technological factors:

  • Technological development - who is developing the app, in-house or outsourced, consider using non-disclosure and non-compete agreements for all staff and external developers
  • Trends in global technological advancements - watch competitors offering like Pyro to ensure EarShot retains its USP
  • Legislations in technological fields - ensure EarShot is not infringing any patents or copyrights
  • Licensing - in the terms and conditions of use of the app the users must have a restricted license with no liability falling on EarShot

5. Legal factors:

  • Consumer protection - refunds if app is not fit for purpose, uninstalling software
  • Data protection of user information

6. Ecological factors:

  • Ecological - link brand to a social issue for example freedom of information
  • Stakeholder/investor values - ensure these do not conflict with the brands ecological values and identity
  • Customer values - understand the demographics of the target consumers and ensure EarShot brand is in sync with these values

Digital Single Market, D. E. a. S. Copyright. Available at: https://ec.europa.eu/digital-single-market/en/copyright.

Wright, R. (1999) Marketing: origins, concepts, environment. London: Business Press.


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