Study Document
Strategy Diamond and Tows Analysis Case Study
Pages:2 (624 words)
Sources:2
Subject:Business
Topic:Market Entry Strategy
Document Type:Case Study
Document:#83972816
Miley Cyrus
Strengths
Strong brand
High popularity
Great publicity machine
Pretty and young
String of top hits
International success, including non-English-speaking markets
Weaknesses
Somewhat narrow demographic appeal
Lukewarm critical reception
Some controversy surrounding drugs, twerking, etc.
Opportunities
Many opportunities in pop, and if she wants in country
Acting
Growing up in sound/growing with fans
Overseas growth
Internal brand building (new fans)
Threats
Competition
Controversy
Changing musical tastes
Miley Cyrus has been immensely successful for the past several years and in 2013 has actually improved on her past record. Her new album Bangerz has been commercially successful, outselling her previous release Can't Be Tamed. Cyrus has seemingly transitioned into more adult material successfully. The aggressive marketing of Cyrus has turned off critics, but not fans, which is likely the objective. For future strategies, now that Cyrus has the attention of fans, the marketing machine needs to keep the pressure for six months or so, then take a break from all-out marketing until the next album. Essentially, there is a risk that such high-intensity marketing wears the market out. With breaks, however, Cyrus can maintain momentum with each new release. This does not mean easing off on shock value and high intensity marketing but to do it sparingly and with a sense of purpose beyond mere attention-getting.
Strategy Diamond
The strategy diamond is arenas, staging, vehicles and differentiations. Arenas for Cyrus are most media channels -- the Internet/social media, concerts, television, radio, newspapers and magazines. All outlets are fair game. Market segments tend to be younger, female, sometimes gay men, and especially those who grew up with her as Hannah Montana, but Cyrus is trying to expand to new fans as well, any fan of pop music. Her geography is spreading beyond the English-speaking world to Europe as well. Though she started as an actress, Cyrus is primarily focused on music and should stay…
Sample Source(s) Used
References:
5.6 Formulating organizational and personal strategy with the strategy diamond. Web Books.com. Retrieved November 4, 2013 from http://www.web-books.com/eLibrary/NC/B0/B58/035MB58.html
"kasi." (2013). SWOT or TOWS analysis (TOWS matrix). MBA Tutorials. Retrieved November 4, 2013 from http://www.mba-tutorials.com/strategy/96-SWOT-or-tows-analysis-tows-matrix.html
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