RETAIL MUSIC STORE

Retail Music Store

Retail Music Store

Operational Plan

The operational plan is one of the strategic plan and is referred as detailed action to achieve end goals of our retail music store which is Player's Place. It describes the basis for the development of short term strategies, resources to put the stratgies in action and so on.

Four Ms in Retail:

Merchandising

Markups

Marketing

Methodology

Operating Strategy

Overview of Key Suppliers of Retail Music

Some of the major key retail music suppliers in USA are, Gibson and Fender guitars, Tama, Rogers drums and Ludwig drummers, Memphis drums, Dales drumps and American drums are amongst the famous retail outlet.

Products and Service Differentiation

Some of the major products in which the Player's Place deals are acoustic guitars, electric guitars/basses, guitars arms & effects, guitars accessories, drum and percussion, P.A and live sound, music technology, band and orchestra, pianos and keyboards, print music and DVDs. Player's Place offers state of the art music learning facilities with some of the renowned music instructors as we focus on educating our customer as well. The focus is on the private groups and also expands reach to local schools. Player's Place also aims at establishing music clubs to drive children and others music lovers to serve better our community. These services will help us in getting competitive advantage; however the guitars and related products will be the primary revenue producer for retail music store.

Facilities and Equipment Plan

When possible, the Player's Place will procure its inventory directly from the producer in order to attain the lowest price possible. Player's Place also continuously contrasts the prices of all the distributors to make sure that the store is getting the best possible prices. Also Player's Place value the quality and services of our products that Player's Place sell to its customer. Player's Place aims to buy or procure in a bulk to obtain maximum pricing advantage from our direct and indirect customers. Player's Places also understands that a better deal always does not lead with the lowest price and Player's Place does not compromise in the quality products.

The industry today is currently on the trend of high tech electronics particularly in guitar related effects. The high technology boom in the music retail has increased the market sustainability and efficiency. Therefore Player's Place will focus on the new products that ensure greater sense of high technology. Also digital keyboard and pianos are highly attractive in today's market. Digital piano sales are currently the fastest growing segment of the total piano market in the U.S., and sales have increased 450% over the last ten years.

IT Section in Player's Place

Player's Place has well equiped IT department that continuously work to give the retail store the real time IT services to better meet the demand of customers. Playet's Place IT section has developed user interface website for its potential customers to take greatest advantage of latest technology.

Operation Budget of Player's Place

The operating budget provides an overview of the costs of your business operations. In other words, the operating budget gives you an overview of daily ...