Full Sail Music Business

1. Situation Analysis 1
Situation Analysis
Tevin Green
Full Sail University

2. Situation Analysis 2
Market Analysis
Market Summary:
The business that I have chosen to create is a live venue. The venue has a combination of
things that is incorporated inside of its design. It designed to help college students relax from the
work load that is given to them throughout their time at school. My business is a place where
students and celebrities can perform music, poetry, theater, tell jokes, and many more activities.
After researching the U.S. Census NAICS database, I found that my place of business is a Live
arts center operator. This is code 711310, which is set for promoters of performing arts, sports,
and similar events with facilities. This industry comprises establishments primarily engaged in
organizing, promoting, and/or managing live performing arts productions, sports events, and
similar events, such as state fairs, county fairs, etc. (Census, 2012).
After research on my consumer behavior, I have found that my consumer would be a
low-involvement decision making consumer. Nacs (2012) stated that, “75% of students say a
suggestion from a friend is “likely” to very “likely” to get them to a retail establishment.” Nacs
(2012) also says that, “48% of female college students prefer word of mouth as an advertising
method and 53% of males say the same thing.” Other platforms like Facebook and Spotify
influences the consumer to buy, as 98% of surveyed venues say enabling ticket sales on other
platforms will drive growth (Hu, 2016).
Cision Prweb (2014) says, “66% of students are spending $1,200 or more each year on
entertainment (bars, restaurants, live music, media, alcohol, marijuana, etc.); more specifically,
21% spend $3,000 or more, 6% spend $6,000 or more.” “Cision Prweb (2014) also says, 59% of
students spend money each month on live music.” Tomar (2018) says that, “studying to the right

3. Situation Analysis 3
kind of music can improve focus, concentration, and productivity.” When studying for exams or
doing homework students find themselves stressed, and music can help ease the stresses the
student feels. I have found that low-involvement decision makers fall into the satisfaction
category where they, do, feel, and learn. Research shows that my consumers fall in the belonging
needs category also. The need for the consumer to socialize and feel free from everyday stresses
motivates them to participate and purchase products sold.
Target Market:
My geographic shows my target market being in Austin, Texas. My demographic shows
my target market being male, but predominantly female college students ages 18-24. This market
is low to middle class, working at a restaurant or student worker. My market is into the arts,
music, and poetry. They love peace, harmony, and the pursuit of happiness. My market is into
reading books and technology. They enjoy time alone and are mostly introverted, but they are
extroverted when they want to be. My market is into meditation, skateboarding, spiritual
awakening, smoking, and coffee. Benefits sought, is for relaxation and empowerment. My
market seeks to free themselves from internal conflicts, and to be a voice for the people. My
market can be vigilantes, revolutionaries, and rebels who uses their time to educate. The target
market doesn’t care if there is one million people in the building or just one, being in that
moment of truth is all they need.
Competitor Analysis
Competition:
I have researched and found a direct competitor and an indirect competitor. Both are
potential threats to my brand. My direct competitor is Spider House Café and Ballroom in

4. Situation Analysis 4
Austin, Texas. My indirect competitor is University of Texas. These two facilities offer services
that are unique and could affect the traffic flow of my business.
Competitors Strengths:
Spider House is a café and ballroom that offers a variety of food and coffee drinks,
cocktails, fine-crafted beer, and an array of sandwiches, pizza, and snacks. It has a patio and a
ballroom that host events seven nights a week (Spider House,2018). The events range from slam
poetry and independent film screenings, and live music. They sale their coffee at $3.50 and
$4.50, they sell their teas at $3.25 to $4.75, salads at $7.50, sandwiches at $8.75, pizzas at $6.00
to $7.00, snacks ranging from $5.50 to $8.00, cocktails from $6.50 to $18.00, and drafts from
$3.00 to $18.00. The ballroom is designed for live music, comedy, film, cabarets, dance parties,
and private functions with two stages and a full bar (Spider House, 2018). It has free street
parking and is attached to two parking lots. Spider House Café and Ballroom has a unique
attraction as it is said to be hunted, and has a podcast called The Night Owl that investigates true
tales of the paranormal. Spider House also has a tattoo shop in its facility. It was ranked number
11 out of 35 things everyone should do in Austin, Texas. It was USA Today 10 best destinations
in Austin, and the Austin Blog named it number 1 coffee shop. Culture Map names the Spider
House Ballroom perfect location for music and Arts in town (Spider House, 2018).
The University of Texas is a college whose core purpose is to transform lives for the
benefit of society. The University of Texas offers museums, libraries, centers, institutes and
special venues spread across the campus and city. They offer “Bevo Bucks,” which is a cashless
form of payment accessible through the student’s ID Card (UT,2018). It allows students to
purchase food, goods, and services at any participating merchant on or off campus. The
University of Texas also offers student activities, which provides space reservation and training

5. Situation Analysis 5
though its workshops, one-on-one consultations and event planning support. Students can find
events and join student organizations, explore opportunities based on interest and build a
leadership resume (UT,2018).
Competitors Weaknesses:
A weakness the Spider House Café and Ballroom has is its bookings. Spider House
(2018) says, “Note: Because of the high volume of inquiries we do not guarantee a response for
every submission.” The company lacks at advertising its open mic nights to musicians, as well as
dedication to specific genres. There is no live footage of the venue to attract more customers,
there is only mentions in newspapers and blogs. Things on the menu are expensive; for instance,
guacamole and chips are $6.00.
The University of Texas has a few weaknesses. They do not offer ways for the students to
express themselves. They have sports and theater for entertainment, but the rest is off campus.
The University of Texas offers museums to students, but nowhere to relax and take a load off.
There aren’t too many places to socialize without being restricted on campus.
Positioning:
To create an environment, for Austin, Texas college students to relax and express themselves,
S.T.U.D.E.N.T Life, LLC is a live music venue that understands the stressful life of a college
student and are committed to helping students worry less and live more.

6. Situation Analysis 6
References
Cision Prweb. (2014, July 8). College Students' Spending Habits: Study Breaks College Media
Presents the Results of a Survey of 500+ College Students. Retrieved from
https://www.prweb.com/releases/studybreaks-college-media/college-student-
spending/prweb11994508.htm
Classification Development Branch, ESMD. (2012). NAICS Search. Retrieved from
https://www.census.gov/cgi-bin/sssd/naics/naicsrch
Hu, C. (2016, December 20). How Mobile Millennials Are Transforming The Music Ticketing
Industry. Retrieved from https://www.forbes.com/sites/cheriehu/2016/12/18/how-
mobile-millennials-are-transforming-the-music-ticketing-industry/#1f1cf3fa7c7c
Hutchison, T., Allen, P., & Macy, A. (2012). Record Label Marketing (2nd ed.).
Nacs. (2012). Student Watch Behavior and Trends of Student Consumers. Retrieved from
http://www.nacs.org/email/html/OnCampusResearch/SPR-080-03-
12_Client%20Newsletter.pdf
Spider House. (2018). About Spider House - Spider House. Retrieved from
https://spiderhouse.com/about-spider-house/
Tomar, D. (2018). Study Music Increases Your Brain Power | The Best Schools. Retrieved from
https://thebestschools.org/magazine/study-music-increases-your-brain-power/
University of Texas. (2018). The University of Texas at Austin. Retrieved from
https://www.utexas.edu