1. Why has this artist been so successful? What are her key sources of sustainable competitive advantage?
— think about
her unique resources and core competencies, think about how she has responded
to changes in the external environment, why is she difficult to imitate?
> Madonna, the diva and a rock star who
has ruled the music world for past few decades and is still rocking it is the
highest ever paid female singer in the world. She has always been on the top
list and has set a benchmark in the music world. I think she has been so
successful because as the case mentioned her as a chameleon, she had the guts
and courage to reshape herself up in every new album. She was always able to
shock and surprise her huge fan following with every comeback she made which
would display a new image of her. With this going she had her strategy well
planned and implemented correctly. She used her sexuality and her attitude in
every change she brought up which eventually was loved and adored by the
public.
“I'm tough, I'm
ambitious, and I know exactly what I want. If that makes me a bitch,
okay.”
― Madonna (goodreads.com,2013). Like this quote written by her explains how
ambitious she is and it doesn't matter to her if others don't like her for
doing what she wants to do. She has this attitude that people love and yet
again Madonna pioneers and endures as one of the most influential celebrity
women in the planet.
Madonna and her ever changing images has
always been able to wow the crowd. From her very first album till now she has
maintained the popularity meter by adopting into several genres of songs and
her involvement in shocking activities. She was often called as 'the queen of
controversy', she had a book featuring her sexual pictures,the music video for
her legendary hit single 'like a prayer' was outrageous and universally banned,
she adopted a Malawi child all this kind of shocking news she created rather
was interesting for the public.
She has always changed and adopted herself
with the change in time and era. Music industry is full of one hit wonders and
brief careers but Madonna was one celebrity that remained at the top for
decades.
Her key sources of sustainable competitive
advantage are:
- She is a chameleon as mentioned in the case.
She changes and improves herself up with the time and era.
- No one can imitate her because no one
knows what surprise she is going to bring in her next come back.
- She eventually has a huge and loyal fan
following, who has been supporting her for decades.
- She has her strategy well planned and uses it
correctly.
- Her changing genres of songs, reshaping
herself up time and again has build up respect for her talent among the
people.
2.What strategy directions could the artist
pursue over the next ten years to continue her commercial success?
— Consider
each of the four boxes from the Ansoff matrix. What new products or markets
could she enter? How might she diversify or continue to penetrate her existing
market? Try to think logically but also creatively and innovatively.
> Over the
next ten years the artist can pursue following strategy directions to continue
her commercial success:
The Ansoff matrix for Madonna to continue her
commercial success:
Market Penetration
She being a brand in herself can easily join in
new labels and sign deals.
She can continue and give more focus on working
as a director.
|
New Products and
services
She can endorse her own clothing line, makeup,
accessories e.t.c.
She can sign up some television shows so as to
keep impressing her fans.
|
Market Development
She should think of giving a concert tour in
Asian countries as well so as to add up to her fan following numbers.
|
Diversification
She can write a book on herself and her success
story.
She can establish a Music school.
|
References:
http://www.goodreads.com/author/quotes/104438.Madonna accessed on
october, 2013
http://www.studymode.com/course-notes/Keys-To-Madonna's-Success-856935.html, accessed on
october, 2013
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