The company strategy for HMV pertains to providing exceptional quality of products and customer service to the market in highly competitive environment. The key objectives of the strategy include “Apply the HMV Blueprint across the group; secure leadership in chosen markets; deliver unrivalled authority; achieve superior financial performance; exploit new product opportunities; embrace alternative distribution channels and technologies; and optimize store portfolio.”(‘HMV Group Plc’, 2007)
. The ecommerce site for the company predominantly has sold CDs, DVDs, music and media paraphernalia as well as music equipment and records. However, now the company has also launched an HMV Jukebox service which is targeted at the electronic download market. This service allows the customers to subscribe to the service and buy download rights to tracks available on the HNMV site on a monthly basis. The company’s strategy as a result has also evolved and includes “flexible pricing structures, a focus on album sales (the service has co-operated with publisher’s wishes to only make certain music available on an album basis), an emphasis on exclusive material only available through the service (such as tracks of live in-store performances being made available for download only), to maximize the catalogue of music available (1.3 million tracks on start up) and strategic partnerships with the device manufacturers to ensure player compatibility.” (‘HMV re-launches online music service’, 2005)
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