Running Head: E-Sonic Sim
E-Sonic Strategic Analysis Project
The following analysis provides an evaluation of Sonic Records online music store e-sonic and its compensation system. Through the examination of external market challenges such as industry profiles, competition, foreign demand, long-term industry prospects, and labor market assessments as well internal functions and Human Resource capabilities, e-sonic is poised to become a leader in the online music industry. Through the consulting team’s findings, legal and technical conflicts will determine the control of online music distribution. E-sonic is entering a market which is constantly reinventing itself with new software and marketing tools, and for industry dominance e-sonic must provide their consumers innovative products. Research suggests not only is there a need for online music distributors, but also sites which market additional entertainment such as movies, books, and social networking. By examining e-sonic’s competitors it is clear the online music store should expand beyond music and provide consumers with additional sources of entertainment while providing a top rated online sales site. In offering online sales, e-sonic must also recognize and meet the needs of foreign demand. Providing services beyond the domestic market would create a larger consumer base and provide an array of services available to anyone within moments in the global market. In order to provide exceptional service to the domestic and international markets, e-sonic must recruit and retain top quality employees to maintain an edge in a very competitive market.
For e-sonic to be successful in the online music industry, it is recommended:
• that extensive research and development is done to ensure services are exclusive,
• that e-sonic’s target market- students- are offered services which are...