Ch. 2 - Strategic Planning for Competitive Advantage

Spotify SWOT Analysis:

Strengths:

- Easily Accessible, and compatibility with almost every modern technological device.
-Intuitive easy to use user interface
-Large and varied collection of music
-Incentivizes listening to new music
-It can be used for free
-International availability

Weaknesses:

-Difficult for independent artists to profit
-Dependence on other technology companies
-Dependence on internet connection
-The company runs on zero profits

Opportunities:

-Potential strategic alliances with mobile carriers, manufacturers or tech companies.
-Higher demand for worldwide music accessibility
-Better use of A.I. to offer a more interesting music recommendations

Threats:

-Negative artist opinions
-Better deals offered by a competitor both for the artist and the listener

Comments

Ch.10 - Product Concepts

Since its introduction to the American market in 2011, Spotify has made efforts to adapt in order to look more attractive to their target market, which are millennials. In 2015 Spotify changed the design of their brand, this included, the user interface, the logo, the ads they attempted to create a new brand identity to show that Spotify was as rich and lively as the music culture, rather than simply a technology service that served up songs.

Final exam-Current Situation

According to a research conducted by the Global Web Index in March of this year that surveyed almost 4000 internet users, media consumption has grown exponentially, video and music streaming for the most part. Music streaming services use has increased among Spotify's target demographic 28% by Gen Z and 35% by Millennials. The pandemic has affected most streaming and social media positively, having a vast percentage of the target demographic at home means that all this services can be accompanying users for most of their day therefore providing companies with even more data to recommend content targeted to each user. Spotify's also implemented a featured for artist to fund-raise directly from fans through the artist's profile page.

Ch. 18 Social media and Marketing

Being a 21st century brand, Spotify takes full advantage of the most used social media platforms, having a dedicated interface when sharing a playlist or song on Twitter(600 million users) or Facebook(1.6 billion users) tells us how important is for them to provide an engaging way for listeners to share their favorite music. But Spotify can be considered a social media platform in development that could evolve into something bigger, with more social sharing features, and it also it's being used as a marketing medium just like Facebook, with targeted video, audio and visual ads.

Spotify

Search This Blog