Business Learning from Rock

Introduction:
Creative Industries (a term borrowed by Richard Caves) like arts, film, music, television, book and magazine publishing share certain key economic properties: among other things, demand is highly uncertain, products are primarily differentiated based on su bjective rather than objective dimensions of quality, and time is of the essence in that there is a need for a tight coordination of production activities and a timely realization of revenues. While it is difficult to come to an exact definition, taken tog ether, these properties distinguish creative industries from other sectors of the economy. i The power of music is undeniable; the loyalty showered upon those who create it, unmatched; and the lessons for corporate business leaders, boundless. It is diffic ult to think of any product or industry that evokes more emotional intensity from its followers than rock and roll. Their attitudes and behaviour shatter the traditional measures of customer loyalty in terms of reach, quantity, and degree to define outrigh t fanaticism the ultimate level of devotion a firm can hope to receive from its customers. ii Rock is the greatest music genre of all time, be it number of years of its popularity , number of artists, albums sold, concerts held or any other parameter. This gives me a great opportunity to learn from the rock bands which have survived test of times for a number of years that can be compared with a firm. Among the rock bands I have heard many visionary geniuses in the way they created customer value, promoted s ocial networking, and did strategic business planning for example The Beatles, U2, and Grateful Dead etc to stand themselves different from other bands of their times. Management learning from rock bands could be extraordinarily complex to find. Along with being conceptually intriguing, this topic is verbally challenging. This study is to understand how some bands were topping the charts whereas other similar sounding bands became just one-hit wonders, and document the same.

Statement of the Problems:
Why do some bands and musicians stand the test of time, producing hits decade after decade, while others are doomed to one -hit-wonder infamy? How can firms build sustainable businesses in creative industries? The purpose of this study is to discuss and analyse the three concepts, sustainable competitive advantage, innovation and organizational longevity by drawing parallels from the bands I will study. I will attempt to draw a relation between advantages which in turn

How can firms build sustainable businesses in creative industries? According to her the first question considers challenges at the product level where as second one focuses on issues at the level of the firm (in our case a band) and its portfolio of products. Sonny Terry & Brownie and others have used personal tensions for innovative gains similar to what manager at work place try to achieve thorough managed conflicts.create sustainable competitive advantage which in turn improve chances of survival. He mentions how band like Simon &Garfunkel. from Victoria s Secret and Wal -Mart to Cadillac and Kraft. emotional connections with them. In their book. As a teacher on the creative industries she has also covered music industry to understand what drives the success of bands in this industry and how firms can develop effective marketing strategies for their products. customer loyalty. How can firms increase the success of new products in creative industries? 2. we will work out each of the concepts in relation to the rock music industry and look if the three interact as mentioned above. Study Methodology: I plan to select few successful as well as unsuccessful bands from 60 s to 90 s and understand what lead to their success or failure by reading more about the band. Brands that Rock: What music industry can teach marketers about customer loyalty . More specifically. have implemented rock and roll strategies to become adopted by culture and secure fans in their own right. economics. Roger Blackwell & Tina Stephen take readers behind the music to uncov er how businesses can create brands that become adopted by culture and capture a long -term position in the marketplace. in working on his book Cool Teams: Business Lessons from Rock in which he would compare business teams with rock bands. and profits by implementing some of the same strategies that legendary bands have used to transform customers into fan and create deep. Her research currently focuses on two major questions: 1. Brands That Rock takes a unique. Stephan and Blackwell also examine how businesses. This . John O Leary. Associate Professor of Business Administration at Harvard Business School is a leading expert on marketing strategies and has publish her research in top academic journals in the field of marketing. who moved from being a band member to management consultant. behind -the-music look at how businesses can increase brand awareness. Survey of background literature Anita Elberse. My study will be in line with the existing literature and I would try to find how bands were able to come up with good music through innovation and also were able to adopt correct marketing strategy to create sustainable competitive advantage over others in that era. and management.

Below mentioned tools will help in analysing the band more structurally: 1. Time Lines: Sl. albums. 1 2 3 4 5 6 Project proposal Short listing of bands Summary on each band selected (monthly report) Analysing and generalising findings across bands Final report (1st draft) Final report (2nd draft) Deliverable July 25st July 25th. sound engineers. How to Truck the Brand: Lessons from the Grateful Dead. (Current Research). The Product Lifecycle 4. Issue6. No. Value net These findings will be then analysed from innovation.Aug 30th Sep . Strategy + Business Magazine." Harvard Business School Module Note 509 -077. Creative Industries. Porter s five forces model 3.selection will be primarily by genre. Anita. . tours. For each band their formation. Peter Drucker (1977). SWOT analysis 2. First quater 1997. "The Creative Industries: Managing Products and Product Portfolios. lineup.Nov December 15st Jan 15th February 1st Timeline References: Books and papers: Elberes Anita. sustainable competitive advantage and organizational longevity perspective. An Introductory View of Management. Core Competencies 5. managers. Elberse. and record labels will be studied to find the influence each one had on the band s popularity. Glenn Rifkin (1997) . Harper & Row Publishers.

John Wiley &Sons Documentary and film series: 1.E. M. Miller Katherine. Roger Blackwell & Tina Stephen (2004). Stephen Davis (1985). John Dower (2003). pp. " Harvard Business School Case 508 -110. Anita. Porter. Warner Bros Tentative Table of Contents 1. Kyle Anderson (2007). M. VH1 Rock Docs (rebroadcasts of music documentaries originally produced for other networks or for video (VHS or DVD) release ).Martin Griffin. 12 (Winter Special Issue). Seven Ages of Rock (2007). St. and Wilcox Rachel (2009). Elberse." Harvard Business School Supplement 508 -111. New York.E. Strategic Management Journal. and Jason Bergsman.E. (1985) Competitive Advantage. Porter. and Jason Bergsman. Accidental Revolution: The Story of Grunge Rock . Live Forever: The Rise and Fall of Brit Pop . " Radiohead: Music at Your Own Price (B). Anita. U2 and Bono . Strategy in dynamic world 4. Introduction 3. Porter. (1980) Competitive Strategy. Classic Albums (1997 2008).Koehn Nancy. New York. Abstract 2. William Morrow & Co. History of rock . Brands that rock: What music industry can teach marketers about customer loyalty. Free Press. VH1 Classic 2. Three concepts for dynamics y y y Innovation Competitive Advantage Longevity 5.Harvard Business School Elberse. (1991) " Towards a Dynamic Theory of Strategy". " Radiohead: Music at Your Own Price (A). Hammer of the Gods . Free Press. 95 -117. BBC Worldwide & VH1 4. M. Isis Production 3.

References Faculty guide: Prof. Conclusion 10. Bands analysis 8. Value creation by rock bands 7. Findings/Analysis 9. Current research on Creative Industries Roger Blackwell & Tina Stephen (2004). Scope for further study 11. Ajit Prasad Study undertaken by: Dhruv Sodani (PGP-09-114) i Anita Elberese. Brands that rock: What music industry can teach marketers about customer loyalty. John Wiley &Sons ii .6.

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