Music Service Aims to Attract Young Fans

Music Service Aims to Attract Young Fans With Low Price

Nowadays, the music industry that focuses on the music being mobile has taken the world by storm. Some of the most popular music streaming services include Pandora and Spotify. These music companies that provide music via apps on your phone, have been growing exponentially in the past couple of years. They offer a way to listen to music without having to pay any money, whilst only having to hear the occasional commercial. As people, and especially as Americans, we do not like have to our groove interrupted by unnecessary distractions. Worry no more! There is an "app" for that. In applications such as Pandora and Spotify, you can pay a monthly fee of around 5 to 12 dollars in order to skip all these pesky ads, as well as have access to unlimited music plays. In the world of capitalism  we have a thing called competition. Thusly, with competition comes a company with an application called CÜR , and they have jumped into the music industry with cheaper venues. 

CÜR offers a monthly price of 1.99 dollars that includes eight on-demand songs a day and lets users attach photos and share personal videos with other users. They offer the cheapest possible rate in order to target college students and teens, since they are the most difficult market to attract due to the small amount of income that they generally have to spend on entertainment expenses. Based on the four Ps that we learned in class, this company has strongly focused on the price and product. We see this in examples such as when they lower the prices to satisfy the needs of the younger generations and when they adhere to certain types of social media interaction such as "sharing". Adjusting the price has a strong impact on the marketing strategy as it affects the sales and the demand of the product. Apart from the 1.99 service, they will also offer 4.99 dollars a month and 9.99 dollars a month alternatives. 

Based on what I read CÜR offers a great music service for the young listeners. There is no commercials and you can listen to exactly what you want when you want to! Its easy and simple to use and you can find any artist or any song. Some questions one may ask themselves after reading this article are; is paying a monthly fee well worth not listening to a few commercials? How much are people willing to pay when it comes to enjoying an ad free luxury? Lastly, are people more willing to buy individual songs, or just pay a monthly rate without having permanent ownership?

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http://www.wsj.com/articles/music-service-aims-to-attract-young-fans-with-low-price-1457124757