Question

The sales and marketing section offers a detailed explanation of your sales strategy, pricing plan, proposed advertising and promotion activities, and product or service's benefits. This is where outline your business's unique selling proposition, describe how you're going to get your goods and/or services to market, and how you're going to persuade people to buy them.

please make a simple marketing plan for a music studio.

Music Studio was started as a way for kids to learn instruments in a fun way. The studio has four instructors that are to be paid as independent contractors. Our target customers are going to be children of all ages, with a focus on children ages 12 to 17.   

Music Studio plans on offering private lessons, group lessons, and online lessons. The private lessons are customized to each students learning style and integrate a fun way to learn music through hands-on experience, technology and musical activities. The group lessons are designed to enhance music fundamental learning with peer interactions. Due to the coronavirus pandemic, the studio also offers online lessons which feature private and group lessons in a virtual learning space. Music Studio offers online lessons via FaceTime, Google Duo OR Zoom.

The music studio offers both group and private instrument lessons. The instruments used are: Piano, voice, violin, viola, guitar, ukulele, theatre, and mini musicians.

The main instructor - who has been studying Music for over 20 years and teaching and performing for over 10 years. She currently holds a Bachelors of Music Technology Performance/Voice along with a Masters in Music Technology – Digital Pedagogy/Voice - both from Duquesne University. Ashley’s past experiences include solo performances, collaborative works, Choral/Orchestral participation, Quartets, Vocal Jazz, Classical Vocal Pedagogy Techniques Recording and Live Sound Engineering

The second instructor is the musical theatre instructor is a professional theatre artist with an array of experience in both the education and theatre industries. She holds a degree in Directing Her main focus is helping students find their artistic voices and to present their art fearlessly and with excellence. Her specialities include acting, improvisation, college audition prep, scene-to-song and group work. The next instructor began her musical journey at the age of 10. recorded and released two EPs and continues to write and record music in her spare time.

The last independent contractor is who serves as the Violin and Viola instructor. s degree in Violin Performance.   The business proposal is to ask the bank for a $20,000 loan. The loan is for five years, and the plan is to repay the bank $4,000 each year.

Answer 1

The most important part of a business plan is to have a good marketing plan. There is no 'right' approach tho this as every plan has its own unique proposition suitable for the respective business. This ideally revolves around the goals and objectives of the business and thus keeps the business on course.

For the Music studio, that teaches instruments to kids, have summarized the information given which is a follows:

Target customers - Children aged 12 to 17 years

The studio offers the following lessons:

• Private lessons - Customised to the child's ability and requirement using hands-on experience, technology and musical activities
• Group lessons - Involves fundamental learning with peer interactions
• Online lessons - Covers private and group lessons using Google Duo, Zoom, Face Time

There are 4 instructors who are well qualified in their own specific fields and have many years of experience.

The studio plans to take a bank loan for $20,000 to repay $4,000 each year and complete the loan in 5 years.

With the above details kept in mind, now we will outline a simple marketing plan for the Music studio, which include the following:

A. Mission Statement (Purpose of business and its goals and objectives) -

The music studio offers various instrumental lessons to kids. The Mission statement is: Our goal is to provide kids with high-quality learning experience through technology, musical activities and peer interactions to enable their musical potential to evolve and grow in the current evolving entertainment environment.

B. Current scenario (Where are we now?)

The current state of business has the required teaching resource. There are a limited number of Kids taking lessons. Only the people in the locality are aware of the existence of this studio.

C. Service offered

The studio offers musical lessons in about 8 different instruments and provides guidance to some kids to identify their potential and excel in the musical field

D. Market reach and Promotional strategy

The reach of the studio is limited to the local area alone. The studio is currently promoted by word of mouth.

E. Competition and Pricing

Currently there is another music studio across the street which is also providing similar classes, but is run by just 2 people on a small scale. The current fees in the music studio are just enough to meet the monthly expenses of paying rent for the studio, for maintenance of the same along with the teaching instruments and for paying the instructors.

F. Action Plan -

Goal 1: Increase market reach

Strategy i) Advertise about Music Studio in newspapers and music journals/magazines

   ii) Use social media for publicity and offer discounts for those enrolling in more than course - upsell the other courses

iii) Create a budget to keep track of the amount being spent on publicity

Goal 2: Enable professional growth to students

Strategy i) Associate with some music professionals like a producer or a recording company

   ii) Provide exposure to the kids by way of giving them an opportunity to perform in small programs

Goal 3: Increase the profit

Strategy i) Use latest technology for teaching to improve the quality and increase the number of instruments that can be taught in the same studio

   ii) Have two instructors employed full time to replace the 2nd and 3rd contracted instructors.

iii) Increase the tuition fees for kids proportionately

Thus, the above is a simple marketing plan for music studio.