A Marketing plan of selected artists for Warner Music Philippines, Inc.

• Main Authors: Raymundo, Ma. Teresa, Purugganan, Melanie Grace, Tayag, Teresa
• Format: text
• Language: English
• Published: Animo Repository 1994
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/16951
• Institution: De La Salle University

In the Philippines, the music industry is a growing industry that has been greatly contributing to the country's economy. As of 1993, the music industry has been valued at over 690 million pesos and it is estimated to have an average growth of 10% to 15% per annum. The music market, which is comprised of international and domestic repertoire, are divided into two basic market segments, namely: Music Cassettes (MCs) and Compact Discs (CDs). Of these two segments, 90% represent music cassettes while the remaining 10% is for compact discs. Warner Music Philippines, an affiliate of Warner Music International---an integral part of Warner Music Group (WMG), a New York based division of Time Warner, Inc., is the newest company in the Philippine Music Industry. It started its operation on December 1, 1992. WMP is the only 100% foreign-owned music company in the country today. Based on 1993 figures, it has already gained a significant market share of 9.3%. Majority of this percentage is mainly represented by its sale of international albums. However, WMP rank lowest in the domestic repertoire. With regards to its image, WMP projects the image of a rock company. In this marketing plan, the goals and objectives of the group includes the following: (a) to obtain a market share of approximately 19.5% BY 1998 which would be done by increasing the company's domestic repertoire (b) to project a versatile image by promoting its roster of albums since it has a wide variety of foreign artists classified into different categories such as pop, rock, jazz, classical, etc (c) to improve the company's image by projecting a World-class image through the use of the proposed slogan: WMP---Maker of World-class Music and Performers , (d) to increase product and company awareness among buyers, (c) to employ aggressive strategies in the advertising and promotions of WMP products. The group believes that by attaining these objectives, Warner Music Philippines would become one of the leading and most known recording companies in the country. Aside from this, WMP would be known as the company that offers world-class product and entertainment. Thus, more people would be influenced to buy WMP products since they would perceive WMP and its products as the best compared to its competitors.