Innovations in the Music and Entertainment Industry in India |
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Introduction contd...
A majority of the marketing efforts of these retail chains were directed towards building shop-in-shops – Music World called them 'Unplugged stores', while Planet M referred to them as 'satellites' — in a conscious attempt to reach out to customers, increase visibility and encourage impulse purchases.
The issues of piracy and counterfeit products were also a major problem, hampering the industry from reaching its full growth potential. Given this backdrop, the establishment of outfits such as MusicWorld was a welcome change for the industry. These specially laid-out, customer-friendly outlets allowed companies to not only maximize their profit margins and reduce their dependency on the distribution channels, but also to gauge consumers' changing perceptions and revamp their product offerings accordingly... |
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