|Date published:||18 Sep 2018|
As per the above graphs, it is notable that high profit is achieved when the CDs are sold through the website and the post. Also, there is a considerable profit once the CDs are distributed at venues where Jonnie was playing live at specific venues. This means that Tribute Ltd should majorly focus on increasing the number of CDs sold through the post as well as those distributed during live performances. The company should also reduce the number of CDs categorized as complementary as they do not bring any profit. In this category, there should be a maximum of 100 CDs. However, the complimentary CDs are essential for promoting Jonnie’s music and the company at large.
- a) By combining the two sets of data, in this case, it is worth noting that most of the consumers take at least 2 minutes to listen to Jonnie’s music. Regarding age, the key consumers of Jonnie’s music are between the age of 61 and 75 years old as it shows a high number of attendees in the Brighton Mall and the Theatre. Most importantly to note is that the females seem to like Jonnie’s music compared to the males.
- b) Bias refers to any inclination which hinders fair consideration of data (Flamm and Luisi, 2012). Understanding bias ensures there is a critical and independent review of the data collected and avoid cases which are suboptimal or potentially unacceptable (Fowler, 2009). Bias in data collection occurs when there is an error in the measurement of an outcome or exposure. For that reason, the information recorded and obtained from different study groups is unequal in some way. A number of cases regarding information bias arises due to the researcher bias, chronology bias, prejudice from misclassification of people, and performance bias.
- c) To ensure that the data collected is reliable and fair to all parties, I could gather information in diverse locations, where possible, to provide samples that are adequate for detailed analysis, for support of researchers, and for broad distribution of findings, including giving out of useful formats. In most cases, the problem of biases is subject to the method used to collect the data. Perhaps for this case, I could prefer observation and survey, which are appropriate methods for reliable information. Also, timing is a critical aspect of data collection (Holliday et al., 2015). I could focus on the schedule of data collection at diverse locations where Jonnie’s music was being performed. It could be important to coordinate the data collection efforts with the availability of the information required. For instance, data could be recorded after the event begin and during the whole performance interval.
- a) As per the table, the preferences of purchasing and listening differs considerably in between ‘young at heart’ (YAH) and seniors’ (SEN). It is notable that SEN has a low preference in both categories of purchasing and listening. On the other hand, YAH has a distributed preferences between 1 and 5.
- b) Concert seems to be the best place where both YAH and SEN purchase the music. However, YAH has a strong preference for buying the music online compared to SEN. It is important to note that SEN prefers to purchase the music in retail than YAH. Besides, YAH prefers to buy the music through their phone and email as compared to SEN who have a slight preference. As far as listening the music is concerned, live performance seems to be the best place where YAH and SEN prefer. Nevertheless, YAH has a strong preference of attending the live concert to listen to the music than SEN. An average preference is exhibited in digital listening, where only few SEN prefers it, and most of the YAH have an average preference.
- c) Appropriateness is the validity of a research question for the desired outcome and whether the methodology or design is appropriate for answering the research question (Holliday et al., 2015). For the intern’s survey research, the method used is valid as it enables detection of findings or phenomena, with due regard to social and contextually variable. The procedures used are appropriate for the research paradigm; hence the data collected is valid. The survey reveals differing preferences of customers whereby most of them prefer digital music and prefer to buy the CDs during the live concert. This is the same case as far as listening preferences are concerned. The fact that people, especially YAH, prefer attending the live performances means people still have a strong passion for music. In fact, the study points out that listeners are spending more money and more time on Jonnie’s music.
- d) In order to generate higher quality data, I would ensure there is the proper engagement of the respondents. Also and just as important, I would focus on designing surveys that ensure appropriate participation of the respondents. By using an advanced survey tool, there will be no personal bias when interpreting the data. This will be a suitable step toward enabling respondents’ experiences and the quality of data generated. As Wyse (2012) assert, quality data can only be obtained through questions that concentrate on the research objectives and restrain the number of open questions in the survey. This would be one of the key concern in my survey.
Nostalgia marketing is a perfect method to distribute Jonnie Jones’ music. It is notable that, because of their moderately higher purchasing power, the “seniors” (SEN) signify a viable market for tribute music that the company must not disregard. Perhaps, the number of SEN preferring digital music will undoubtedly increase. It is significant that Tribute Ltd brings into line its marketing strategy with the preferences of both ‘young at heart’ (YAH) and SEN. Notably, a joint strategy that integrates both nostalgia marketing and digital technologies can be worthwhile to Tribute Ltd. This is due to the fact that the targeted consumers can quickly distinguish Jonnie’s music. Even though internet usage by senior people will remain a fundamental problem in the anticipatable future, the long-term opportunities are, however, quite rewarding.