Business Plan



Table of Contents

Mission Statement3

Goals3

Competitive Advantage4

SWOT Analysis4

Industry Analysis6

Competitor Analysis7

Company Analysis7

Customer Analysis8

Marketing and Product Objectives8

Target Markets11

Points of Difference11

Positioning12

Product Strategy13

Price Strategy13

Promotion Strategy13

Place (Distribution) Strategy14

Financial Data and Projections14

Organizational Structure16

Implementation16

Evaluation and Control17

Business Plan

Mission Statement

Fomik.com is passionately committed to providing the service and support a new company needs to grow and thrive in a competitive environment. This idea has been 2 1/2 years in the making with just planning and thinking of just about any and all things concerned within this business. It is now time to put those ideas and planning into action so that the world can see a new way to create and buy music.

Goals

Fomik.com will provide the next level in music evolution. Fomik will in a sense change the way music is made and brought to the market place. With Fomik we look to help that artists/bands/group that does not have a recording contract to not only bring their music to a massive audience (the World Wide Web) but also let them interact with other artists/bands/groups that are also unsigned. It is also a place where fans can come to listen to their favorite unsigned artists/bands/groups and support them with the option of buying their music directly from the artists/bands/groups via digital download. In a sense we look to change the way artists/bands/groups look to have their music heard on a massive scale. In essence we look to show them that to be successful you do not have to sign a record contract with a traditional record label. But instead sell it directly to the public, which will enable more creative control over their work and increased profits.

Objectives

The main objectives of Fomik.com is to provide a broad range of music collection to its customers and its vendors. Its aim is to provide a single platform where one can find every kind of music easily.

Keys to Success

In order to launch and run a successful business, there are some keys to success which must be followed.

Invest in becoming unusually good at what you do. No amount of sales and marketing can substitute for expertly and reliably delivering your product or service.

Tell the truth way more than most people do.

Be really picky about who you hire, nothing less than the best you can find.

Listen eagerly to what your customers want and make sure you are their best choice to get it.

Run a meritocracy where high-performing employees are rewarded and recognized, and where low-performing employees are quickly removed.

Industry History

In the past, the music company was controlled by the key record labels. The record labels controlled every thing in an artist's career from commence to finish. The record label would control and artist image, airplay, access to audits, likeness, royalty rate, good results and every little thing in in between although under the record label contract. When the artist career was more than, the artist usually didn't have anything to show for their difficult work and creativity.

The music industry refers to activities that contribute to the supply of musical products obtained by an industrial process of ...