Reverend Musical Instruments: Playing a Different Tune (C)

Reverend Musical Instruments: Playing a Different Tune (C) Description

The electric guitar market is both enticing and daunting for a small company - a multi-billion $US sector that has grown almost constantly since the 1960s, but where competition is based as much on image as on substance. The market is naturally fragmented (similar to the market for many musical instruments), yet dominant players make entry and sustenance difficult. While Asian producers or branded imports dominate the low and mid-priced market, collectors and serious players seek high-end branded or handmade instruments that can be resold with only minor loss, if any. To augment collector value, high-end guitar manufacturers constantly modify components, making short-run series with unique features (often specified by "name" musicians and sold under their signature). For established brands, vintage instruments, and handmade instruments, used guitars may sell for their original purchase price or surprising multiples thereof; the value of some pieces increases after only ten years. From this standpoint, experienced buyers can make essentially risk-free purchases. The case tells the story of Joe Naylor, the owner-manager of Reverend Guitars, a small company that made a startling impact on the electric guitar market with a clever use of innovative products, innovative marketing and innovative use of the internet to a) leverage an existing community and b) build a new one.

Case Description Reverend Musical Instruments: Playing a Different Tune (C)

Strategic Managment Tools Used in Case Study Analysis of Reverend Musical Instruments: Playing a Different Tune (C)

STEP 1. Problem Identification in Reverend Musical Instruments: Playing a Different Tune (C) case study

STEP 2. External Environment Analysis - PESTEL / PEST / STEP Analysis of Reverend Musical Instruments: Playing a Different Tune (C) case study

STEP 3. Industry Specific / Porter Five Forces Analysis of Reverend Musical Instruments: Playing a Different Tune (C) case study

STEP 4. Evaluating Alternatives / SWOT Analysis of Reverend Musical Instruments: Playing a Different Tune (C) case study

STEP 5. Porter Value Chain Analysis / VRIO / VRIN Analysis Reverend Musical Instruments: Playing a Different Tune (C) case study

STEP 6. Recommendations Reverend Musical Instruments: Playing a Different Tune (C) case study

STEP 7. Basis of Recommendations for Reverend Musical Instruments: Playing a Different Tune (C) case study

Case Analysis of Reverend Musical Instruments: Playing a Different Tune (C)

Reverend Musical Instruments: Playing a Different Tune (C) is a Harvard Business (HBR) Case Study on Sales & Marketing , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. Reverend Musical Instruments: Playing a Different Tune (C) is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. Reverend Musical Instruments: Playing a Different Tune (C) case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. Reverend Musical Instruments: Playing a Different Tune (C) will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.

Case Study Solutions Background Work

Reverend Musical Instruments: Playing a Different Tune (C) case study solution is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Sales & Marketing, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of Reverend Musical Instruments: Playing a Different Tune (C), is to not only build a competitive position of the organization but also to sustain it over a period of time.

Strategic Management Tools Used in Case Study Solution

The Reverend Musical Instruments: Playing a Different Tune (C) case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.

Texas Business School Approach to Sales & Marketing Solutions

In the Texas Business School, Reverend Musical Instruments: Playing a Different Tune (C) case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.

We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – Reverend Musical Instruments: Playing a Different Tune (C)

Step 1 – Problem Identification of Reverend Musical Instruments: Playing a Different Tune (C) - Harvard Business School Case Study

The first step to solve HBR Reverend Musical Instruments: Playing a Different Tune (C) case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Instruments Guitar is facing right now. Even though the problem statement is essentially – “Sales & Marketing” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Instruments Guitar, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.

Step 2 – External Environment Analysis

Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the Reverend Musical Instruments: Playing a Different Tune (C).

The external environment analysis of Reverend Musical Instruments: Playing a Different Tune (C) will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.

What is PESTEL Analysis? Briefly Explained

PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Reverend Musical Instruments: Playing a Different Tune (C) case study. PESTEL analysis of " Reverend Musical Instruments: Playing a Different Tune (C)" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.

How to do PESTEL / PEST / STEP Analysis? What are the components of PESTEL Analysis?

As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with Reverend Musical Instruments: Playing a Different Tune (C) macro-environment and how it impacts the businesses of the firm.

How to do PESTEL Analysis for Reverend Musical Instruments: Playing a Different Tune (C)

To do comprehensive PESTEL analysis of case study – Reverend Musical Instruments: Playing a Different Tune (C) , we have researched numerous components under the six factors of PESTEL analysis.

Political Factors that Impact Reverend Musical Instruments: Playing a Different Tune (C)

Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.

Policy Making Impact on Reverend Musical Instruments: Playing a Different Tune (C)

Government policies have significant impact on the business environment of any country. The firm in “ Reverend Musical Instruments: Playing a Different Tune (C) ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.

Data safety laws – The countries in which Instruments Guitar is operating, firms are required to store customer data within the premises of the country. Instruments Guitar needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.

Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. Reverend Musical Instruments: Playing a Different Tune (C) has numerous instances where the competition regulations aspects can be scrutinized.

Import restrictions on products – Before entering the new market, Instruments Guitar in case study Reverend Musical Instruments: Playing a Different Tune (C)" should look into the import restrictions that may be present in the prospective market.

Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Instruments Guitar in case study “ Reverend Musical Instruments: Playing a Different Tune (C) ” should look into these export restrictions policies.

Foreign Direct Investment Policies – Government policies favors local companies over international policies, Instruments Guitar in case study “ Reverend Musical Instruments: Playing a Different Tune (C) ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.

Taxation & Regulation Impact on Reverend Musical Instruments: Playing a Different Tune (C)

Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.

Tariffs – Chekout how much tariffs the firm needs to pay in the “ Reverend Musical Instruments: Playing a Different Tune (C) ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Instruments Guitar can compete against other competitors.

Government Scheme & Subsidies Impact on Reverend Musical Instruments: Playing a Different Tune (C)

Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at Reverend Musical Instruments: Playing a Different Tune (C) case study have to assess whether their business can benefit from such government assistance and subsidies.

Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.

Political System & Stability, and its Impact on Reverend Musical Instruments: Playing a Different Tune (C)

Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.

Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.

Corruption level – Instruments Guitar needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.

Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.

Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.

Economic Factors that Impact Reverend Musical Instruments: Playing a Different Tune (C)

Social Factors that Impact Reverend Musical Instruments: Playing a Different Tune (C)

Technological Factors that Impact Reverend Musical Instruments: Playing a Different Tune (C)

Environmental Factors that Impact Reverend Musical Instruments: Playing a Different Tune (C)

Legal Factors that Impact Reverend Musical Instruments: Playing a Different Tune (C)

Step 3 – Industry Specific Analysis

What is Porter Five Forces Analysis

PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Reverend Musical Instruments: Playing a Different Tune (C) case study. PESTEL analysis of " Reverend Musical Instruments: Playing a Different Tune (C)" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.

Step 4 – SWOT Analysis / Internal Environment Analysis

Step 5 – Porter Value Chain / VRIO / VRIN Analysis

Step 6 – Evaluating Alternatives & Recommendations

Step 7 – Basis for Recommendations

References :: Reverend Musical Instruments: Playing a Different Tune (C) case study solution