The Improvement Study On Marketing Strategies Of N Cloud Music

With the trend of ever growing consumption power and the increasingly fierce competition in the cultural market,N Cloud music and video streaming service company(N Company)has to seize opportunities and tackle challenges simultaneously.Specifically,N company could refine the marketing strategy and upgrade the marketing tactics to improve the competitive advantages and meet customers' needs in the context of stricter copyright law,more diversified customers needs,and the higher homogeneous competitive products.To begin with,this essay employs the PEST analysis to analyze the macro business environment in the cultural market through the political,economic,social and technological aspects.Then uses the Porter's Five Forces Framework to structure the bargaining power of suppliers,the bargaining power of buyers,the threats of new entrants,the substitutes,and the rivalry.Also,the essay will thoroughly analyze N Company with SWOT analysis,which includes the strength,weakness,opportunities,and threats.Lastly,the approach of segmentation,targeting and positioning(STP)will be used to specify the targeted market and customers of N Company.Based on the marketing research and the data collected from both the qualitative in-depth interviews and quantitative questionnaire surveys,this essay uses the descriptive analysis and the correlation analysis to further explore the existed and potential customers' needs as well as expectations toward N Company.Moreover,the correlations among product functions,payment methods or promotion ways and customer satisfaction and customer loyalty will be analyzed to explore the market insights.In particular,the essay provides suggestions based on the 4P's model to refine the marketing strategy of N Company and make recommendations to improve the marketing tactics based on the core idea of Integrated Marketing Communications.