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.

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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.

Chapter 17 - Personal Selling and Sales Management

Spotify has a customer centric strategy where the data customers provide through the app basically customizes an enviroment for each user where the music recommendations will be based in what they had listened previously, this also helps Spotify to improve their algorithms, to make better business decisions, to better market their product in different countries

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

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