Week 15

1.      Why has the artist been successful? What are her key sources of sustainable competitive advantage?

Madonna is the highest ever paid female singer exceeding upcoming artists. She has countless faithful fans and endures to make disparate new fans. She is extremely relevant and able to reinvent herself. She adjusts her music genre alongside it and yet able to accomplish main record sales.  She has additionally dispatched her own style line shouted ‘Material Girl’. In order to stay in this competitive music industry, she has grasped to work alongside countless producers from disparate music genres. She has additionally grasped to hold on controversies that transpire in her confidential and expert life. A feat that has not been attained by accepted groups and supplementary solo artist; she has able to have extremely prosperous concerts and tour.

Madonna additionally manages to diversify into disparate span of the entertainment industry. She has frolicked lead act in six movies as she has endeavored her labor at acting. Unlike her character, she has replaced in films like Evita whereas she has frolicked act of soft image. She has even managed movies like W.E, and has crafted the soundtrack for the movie.

2.       What strategy directions could the artist pursue over the next ten years to continue her commercial success?

Market penetration

It is a strategy whereas the allocate of present product is increased in present market. She can penetrate the marketplace by vending her all the hit songs as a collection and additionally making disparate genre of song by working alongside the producers.

Product development

It is a strategy whereas an association brings adjusted or new products to continuing market. She can work alongside producer and hold out disparate genre of songs. She can additionally display her talent on replacing on films and produce the soundtrack for movies. She can additionally tolerate to comprise novel for her fans.

Market Development

It is a strategy whereas an association proposals continuing products to new market. She can appeal the customers of all periods by chanting disparate genre of music. She can display her talent in such locations whereas she has not gain popularity yet. She can do extra commercials and sojourn for the marketing.

Diversification

It is a strategy that involves diversifying the scope of products or services by an organization. She can produce extra songs and give chance for the new artist. She can do extra movies alongside disparate characters. She can additionally comprise the profile concerning her and do extra endorsement deals.

References:

H.I. Ansoff, Corporate Strategy, Penguin, 1988, Chapter 6

Johnson, Whittington and Scholes (2011) Exploring Strategy, 9^th Edition, Pearson Education, Chapter 7