Polyphonic Hmi Mixing Music and Math - 749 Words

Polyphonic Hmi: Mixing Music And Math 1 PROBLEM STATEMENT After failing at their first attempt to enter the music industry, Polyphonic HMI (hereinafter referred to as the â€Å"Company†), is releasing Hit Song Science (HSS), software used to predict future hit songs with 80% accuracy. An integrated marketing strategy, needs to be developed to launch an innovative product, in an industry typically known for â€Å"gut instinct† and therefore likely to meet strong customer resistance. Thus there are two key challenges to address: what is the target market and desired positioning of HSS and what is the plan for marketing this product to achieve that positioning, given a tight â€Å"shoestring† budget. 2 SITUATION ANALYSIS Polyphonic HMI wants to†¦show more content†¦Producers are similar to AR people but can also be engaged in many other different aspects of the production chain from editing the song to marketing the artist. Finally, the largest target customer segment is the unsigned artists, comprising tens of thousands of individuals desperately hoping to secure a recording contract with labels, while working on a tight budget. The Polyphonic HMI Company is a subsidiary of Barcelona based Grupo AIA and was established in 2002 to market a tool that uses a process to â€Å"number crunch† music into its constituent mathematical characteristics, such as tempo, harmony, etc. Based on these, a dotted visual representation is created where songs with similar characteristics are positioned close to each other, thereby creating a mapping of known hit songs, that they call hit clusters (see Exhibit I). The extent to which new releases â€Å"fit† those clusters should indicate their hit potential. While not known to the music industry, Polyphonic HMI has already attempted a market penetration with a music recommendation system (based on the HSS core technology) to be used close to the end of the value chain, the retailers, to support them in increasing sales to consumers. Declining market conditions did not make this a successful attempt. Albeit, the Company works with a small group of scientists and has the ability to borrow specialized resources from the parent Company, keeping running costsShow MoreRelatedPolyphonic Hmi: Mixing Math and Music Essay2305 Words   |  10 PagesExecutive Cover Memo Subject: Polyphonic HMI: Mixing Math and Music This is to recommend that Hit Song Science should market its product and services to record labels attempting to catch a larger share of the market. BACKGROUND Polyphonic HMI is preparing to launch Hit Song Science, which analyzes the mathematical characteristics of music compared to past music hits, making it possible to determine a song’s hit potential. Music characteristics can be analyzed by math such as melody, tempo, pitchRead MorePolyphonic HMI: Mixing Music and Math (Case Study Review) Essay1979 Words   |  8 Pagesï » ¿ Polyphonic HMI: Mixing Music and Math (Case Review) Abstract This paper is an analysis of a case study originally conducted by the Harvard Business School in August of 2005 and is based on the challenges of introducing a new technology into a market place that for decades been based on â€Å"gut feelings and intuition†. The new technology was initially designed to assist consumers in music stores find music that met a certain criteria. Later this was changed because of a sharp decline in musicRead MorePolyphonic2316 Words   |  10 PagesPolyphonic HMI : Mixing Music and Math Entertainment Management Situation Analysis Issue Deï ¬ nition Environment Analysis Strategy Options Choice Action Plan Situation Analysis Situation Analysis(External) So few songs actually become hits - Las Vegas gives you better odds than the Music Industry! You might as well just put a million dollars on red and spin the wheel... - Ric Wake, Independent Music Producer Entertainment Management : Polyphonic HMI : Mixing Music and Math