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Example research essay topic: Ultimate Marketing Machine Organization Of Electronic Markets Jambase - 1,144 words

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... penalized, there is a shift away from the mass music market and more of a focus on artistic and independently produced music. The nature of long tail economics allows Jambase to thrive in this independent music market because it is much less costly with the internet to provide a medium of exchange for these traditionally localized segments. Market segmentation along with the fact that there is no physical business implies a lot for the website and its ability to generate revenues. Jambase. com must be effective in meeting the costs of running the site because it is in fact the entire business.

This puts increased pressure on the advertisement effort which must meet the demands of those paying for the ads while ensuring customer retention. By providing links to events and merchandise that customers find appealing Jambase creates a strong relationship with its customers on both ends. The ability for Jambase to put customer and client together effectively does a lot for the companys branding effort and reputation. Brand advertising is inherently about leaving an impression on a consumer, and thus about some sort of exposure (Ultimate Marketing Machine, pg 4). If the users have a positive experience on the site and find the information, including the advertisements, useful, they will be inclined to come back and use the services again. It seems that Jambase has been very proficient in creating returning users as their internet presence has grown considerably with the expansion of the geographical areas and musical genres that they cover.

Furthermore they are continuing to operate successfully in their eighth year with no immediate signs of slowing. Critical Evaluation and Conclusion As a user of the site, I am familiar with a lot of its intricacies and very satisfied with most of its functionality. Jambase makes it very easy to find music, locate concerts and buy the tickets. By reaching the audience it has online, Jambase is able to drastically reduce some of the transaction costs involved in seeing live music.

They have also greatly reduced some of the information costs surrounding this as well. In the transaction cost article we read, the author states, search costs shrink in the information phase, when the physical search for the lowest price among alternatives can be compared by a mouse click (Organization of Electronic Markets, pg 110). Although Jambase does not offer comparable price ticket shopping (this is not possible in the industry because tickets are issued from a venue through one vendor typically), the website still reduces costs for users where they would have to visit every band site individually or call a box office or even go to the local record store. Jambase also, in my opinion, provides very well targeted and well placed ads in terms of not only reaching the correct audience, but generating clicks to the ads as well. After all, this is the intent of the advertiser and what they are paying for so if a site cannot generate visitors to its sponsors, the ads are in a sense ineffective. Another aspect of the business that I like about Jambase is that they are up to date with a lot of their technology and seem fairly internet savvy.

They understand the importance of branding and have made a strong effort in that. This is noticeable if you are a frequent user. They also recently added a feature called Newswire which is an RSS feed that automatically updates subscribers of articles, reviews and even music and other media. RSS is a growing phenomenon on the net and is becoming a very popular way for users to filter and organize content in an efficient and timely manner.

That they have already integrated this material into their business model successfully, illustrates that they are current with trends and technology and that they intend to keep expanding their audience. There are some critiques, however, as well. If you are not familiar with the layout of the site it could seem a bit cluttered when you first visit. Again there is a lot of information on the main page which is easy to navigate if you are used to it, but could prove to be confusing for a first time visitor.

Also, their own ticket selling has just become available, which is a good thing, however illustrates a problem with the original business model. As an intermediary the site is heavily dependent on other services to provide many of the actual customer transactions. This is evident when your ticket selection forwards you to a Ticketmaster website, or when you click on an artists CD image and you are passed onto their Amazon page for example. If Jambase could find some innovative ways to reduce their dependence on others they would benefit largely. Jambase does offer a radio show, which is, in my opinion, a very good offering from them as they have access to lots of good music that people may not otherwise hear or know of. What they could perhaps do in an effort to create some more independence and revenue for themselves would be to release some of these programs as pod-casts, or offer them to paid subscribers in a customizable media feed as is possible through RSS.

Most of the innovation that Jambase will be able to offer its users is going to have to come from spilling its expertise over into the music market and finding new ways to adapt its site and products to changing music devices and products. Maybe they could find a way to supply i-Tunes with pre-arranged play lists for customers to download, or purchase recording rights to some of the shows they review and offer those for download through i-Tunes or their own interface. As is shown by their current growth, the business is willing to expand and is also fairly flexible. Making changes for them does not seem all too difficult and they are still a small organization. They have a niche market with a loyal customer base and could benefit a lot from some creative innovation and independence in the future. The technological advancements in both the music and internet industries are booming, and the demand for music is certainly not going anywhere.

This is a great time for Jambase to continue its expansion and delve into some new and more profitable ventures. Logging on to Jambase this afternoon I found that a band of whom I am a fan of (I found them because I liked a song of theirs that I heard on the Jambase radio a year ago) is playing in London tonight. I hope to make it to the show. Bibliography: web Internet Advertising: The Ultimate Marketing Machine. The Economist. July 6, 2006.

San Francisco, USA Picot, Arnold, Bortenlanger, Christine, Royal, Heiner. Organization of Electronic Markets: Contributions from the New Institutional Economics. Taylor & Francis. 1997


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