This document contains a S.W.O.T. analysis for a proposed Spotify MP3 player. The strengths include allowing offline playback to save phone battery, being cheaper than Apple products to attract more customers, and being convenient for workouts. Weaknesses are that customers may not want an extra device and may stick with Apple or phone music players. Opportunities include bringing MP3 players back into fashion and allowing Spotify to promote membership deals. Threats include strong competition from Apple and phone companies, and customers may see no need for the device if they can stream Spotify on their phone.
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The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
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1. S.W.O.T ANANLYSIS.
S (strengths) –
Being able to play spotify tracks off an mp3 player is helpful as you can
save your phone charge for longer. So it would be instead of playing it
from your phone.
A cheaper version of an apple product could be popular with the public.
As apple products are quite expensive. So it would be targeted towards
the more middle class, lower class types of people that can’t afford to buy
apple products.
Could be more convenient for people to carry around.
Promotes spotify.
Better for people at the gym. Having your phone is nuisance to people
preferred to have an mp3 player. Spotify have a lot of running tracks so
this is really good way for people to listen to their spotify workout
playlists but on a device that is a lot more convenient to have on you at
the gym.
Good for males as they don’t have a handbag so they can easily fit in their
pocket.
Safer for children to use as some parents don’t want their children to have
a phone young to expose them to things they do not need to be exposed to
but having a MP3 player children can listen to all their favorite music
without any dangers on a really good music player source.
Brings more money to spotify and expands the brand. More people will
know about them. Depending on these sales there is possible room for
more devoices to be made bringing more money to the company if proved
popular.
W (weaknesses) –
People may not want an extra gadget to play music when they can just use
their mobile phone.
Could lose money, as there is a lot of competition in this market.
More expense for people to buy.
People may stick with apple and it may be hard to compete with them in
this market.
Spotify uses a lot of adverts and people will get sick of listening to these.
This is if they don’t upgrade
So it will end up costing people a lot more money in the long run that just
downloading
You do have to pay an upgrade fee, which people may not want to pay.
Having this spotify could come up with a deal about buying the device and
being upgraded. As you would be paying monthly for the device and the
upgrade membership.
It could be hard starting this off, as people trust apple products a lot so
changing to an unknown device is hard for people to do so this could be
why the device could be a flop.
2. More things for people to carry just seen as inconvenient.
Mp3 players are not that trendy anymore as you have iPods, which are
more popular. If advertised as an MP3 player people may be put of
purchasing the device. As MP3 players are seen as old fashioned.
There are not as a big variety like the iTunes store, which does more than
just music like podcasts, shows, films. So the public may sway towards
this instead because it’s easier to have all their media in one place.
O (opportunities)-
A chance to create another alternative gadget for people to use, which
would be cheaper than an apple product and smaller to carry around.
People may like this better.
Spotify will get more business
Bring MP3 players back into fashion. Creating a trendy MP3 player with a
trendy brand brings MP3 players back so people will want to buy them
more.
Gives the opportunities for spotify to create deals like I mentioned before
for example. If you buy a device you could get a free upgrade or a cheaper
upgrade a month compared to if you did not have the device. This could
then make the upgrade a lot more popular and again bring more business
to the brand
Expand the brand on different platforms. Not just on the laptop. Try to
make it par with apple.
To create events that is promoting a product. They don’t do many events
as it’s hard to show people through the Internet but now they can as they
have something to show right there and then.
They now have merchandise, which is getting them promotion. Having a
device such as an MP3 player they are attracting a lot different people like
the older generation who don’t stream music from the Internet. They
have reached a different target audience that they can conquer and cater
for which brings them again more business.
They can make themselves seen as sports/fitness crazy, which they can
campaign for. Having a device, which is great for working out for the gym
they can campaign about this and spotify can seen in another way. They
have great workout playlists and this would really fit the whole
fitness/healthy scene.
3. T (threats)-
Apple is a threat as they are such a huge company it will be hard to
compete with them as majority of people use their products.
Mobile phone companies that use phones, as music players such as nokia
lumia and Samsung would also be competition as these companies are
huge already.
In general spotify have a lot of bigger MP3 brands which people feel safe
and comfortable purchasing like Samsung. They may not give spotify a
look in as they will not know how the brand is going to work.
The public is a threat as if the public do not enjoy this brand and device
and they don’t purchase a MP3 player then you are not making money
your investing in them and they could make the business flop.
The spotify app is a threat people loads of people have the spotify app on
their phone they will think well what’s the point when I pay for premium
membership and I have the app. There is no point spending more money.
The company itself is a threat to themselves as they are seen as an onlne
music player so trying to expand may lose them money as people will
want to still stream the music from their account online instead of paying
a large amount to do it on top of the upgrade.