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Another thing the company could do is to offer promotional products. These products would have an insignificant value but, by being free, they would serve their purpose of attracting customers. Among the promotional products could be posters of the artists (serving a double purpose: attracting CD customers and creating publicity for the record house and the artists), T-*****s, key chains or trinkets.
Applying this promotional strategy would generate additional costs for Universal Music Group and would require additional funding. The company should invest part of their revenues in acquiring the products, but most of their promotional costs would return in the company in the form of sales and profits.
3. Sell music in MP3 formats on the Internet
Last, but not least, Universal Music Group ought to find means of combining the new...
In order to do so, they could transform the audio files into MP3 files and legally sell them on the Internet. Throughout specially designed web sites, Universal Music Group would encourage legal downloading of the music files and also, they would enlarge the number of their customers. The web sites would contain clear mentions of the terms and conditions of usage and would forbid further commercialization of the items. Also, to make the web sites more attractive, the distribution company could host fan clubs and forums on which virtual members could share opinions and discuss about their favorite artists.
The costs of these actions would be rather low, but they would generate an increase in the company's and artists' benefits and revenues. Moreover, such promotional campaigns would help bring together fans, artists and distributors.
This education aims at stopping music piracy. Thirdly, there is the use of technology to stop piracy. This is quite difficult because the advancement in technology leads to advancement in the music piracy. However, knowledge in technology leads to the introduction and use of Digital Rights Management (DRM) systems. These systems limit the number of computer devices that can play a song. As a result, there is a reduction in
Piracy, Counterfeiting, Patent Violation, The Price You Pay for Outsourcing China Piracy, Counterfeiting and Patent violation In this paper we will focus on piracy, counterfeiting and patent violation taking note of latest cases towards items such as in software, books, music and other related things. Here a huge emphasis will be given on China and how many different industries across the globe suffer losses due to the illegal practices carried out by
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