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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Ch. 1: Overview of Marketing (Brief History and Mission Statement)

Spotify was founded in Stockholm in 2006 by Daniel Ek and Martin Lorentzon and although the company's head office is now in London, much of its research and development remains in Stockholm. The streaming service launched on October 7, 2008 and the company initially limited the sign-up for free services by making it invite-only. Paid-for subscriptions were made available immediately but despite this, Spotify reported a $4.4 million loss in 2008. By 2012, the company had launched its service on Android smartphones. In 2015, the company updated and rebranded itself, adding music videos and clips to the service. By that point, the service had over 25 billion hours of songs available. Spotify’s mission statement is “ to unlock the potential of human creativity by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by these creators .” The mission statement sheds more light on the goals

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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