Personal relevance and identifying consumer needs in the South African music industry.
The South African music industry is in crisis. Recent data suggests that the industry has declined by an average of 13.2% per year for the past 5 years. The industry seems to be unable to accept responsibility for this state of affairs and consistently blames external factors for its woes. A new look at the marketing strategies for the industry is urgently required The primary objective of this dissertation is to raise the debate around current marketing strategies, to show that these strategies are not able to facilitate growth in the industry, and need to be radically reassessed. Anticipated results were achieved during the interviews that were conducted. There is a general belief throughout the industry that the reason for the decline is beyond the control of retailers or suppliers. Blame was placed on the increasing sales of cellular phones, gambling, the national lottery and piracy. None of the interviewed stakeholders considered a change in marketing strategy to be beneficial. It is recommended that marketing strategies be reviewed. The tendency to operate on a 'product and price' advertising strategy should be removed, and a strategy put in place that responds to the wants and needs of consumers. This strategy should include a great degree of personal relevance for the consumer. Retail stores should focus on establishing brand identity for their stores rather than focusing on product and price.