In this paperwork, entertainment industry has been selected, in particular, jazz bar industry. The region that has been selected is Atlanta, GA. The amusement industry is important for any area because it attracts a lot of tourists and maximizes the enjoyment agent of people that live in metropolitan region. Multi-level Marketing Company in the USA provides the action for having amusement, and this allows people to escape from a day-to-day routine and real life work.
Jazz Bar Industry
This paperwork discusses business potential of a jazz club, which is necessary in Atlanta metropolitan region and, in addition to this, expands the trends for the assessment of rewards and risks with business potential.
The ascertainment and assessment of business opportunities were to observe the tendency and it could create opportunities for employers to pursue. The psychographic, demographic, geographic, and environmental tendency in the region of Atlanta was to be assessed and the tendency was related to amusement industry. In the case of environmental trend, the social and economic forces were contributed in the region. Economic forces were affected by the high income of people in the metropolitan region of Atlanta (Kuratko, 2009).
The metropolitan region has the low unemployment percentage. Moreover, in this region families and persons are capable of spending more cash for the creation of business potential. The social forces provide the cultural ideas and new process for the production of amusement organization. The metropolitan region contains the sufficient number of society for enhancing the production and services. Apart from that, this region contains the typical kinds of basic drives, basic association, and group relationships.
The demographic trend has enhanced the metropolitan region and that tendency is related to the industry. This trend of the metropolitan region contains the manpower demographics that has been shifted profoundly the metropolitan region of Atlanta, availability of skilled employees for the promotion of products, they have the efficient market everywhere and they have more profitable power (Lazer, 1994).
In addition to this, the metropolitan region of Atlanta has lifestyle groups, community managers, risk takers, and lenient people which are considered to be the psychographic trend that is related to jazz bars in the city. The metropolitan region contains the geographical tendency, such as an increase in fiscal budget, number of employees, incomes, and increase of overall procedures. Hence, this tendency is related to music and it is helpful to jazz bar industry.
Opening a jazz bar has many kinds of business opportunities by providing jazz concerts with great atmosphere to customers. Alcoholic and non-alcoholic drinks, pleasant music from musicians performing live on stage, corporate events: all of these shows that a jazz bar will be productive according to market efficiencies (Stevens, Sherwood & Dunn, 1993).
For acquiring a good audience at jazz gigs, the owner of a jazz bar can have a good web presence, create an account on Myspace and Facebook, Twitter too, maintain an email newsletter, or create a Wikipedia page. Furthermore, as most of big cities, Atlanta is home to some colleges and universities. Many of such schools also happen to have some kind of jazz education. For instance, according to Rick, Morehouse College, Spellman College, Clark Atlanta University, Agnes Scott, and Georgia Perimeter College all have jazz small and big bands, and one could imagine that many of such schools provide a “history of jazz” kind of class to non-music majors. As it can be seen, there are many of jazz-aware students in Atlanta (Rick, 2007). If one can receive at least a little part of the students to visit live jazz concerts in Atlanta, the present Atlanta jazz public will probably grow a few times in size.
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There are some other recommendations for engaging more students to see jazz concerts:
- Make sure a student knows who you are. Giving a free master class or performance during class is a good way to receive a student’s attention.
- As soon as a student knows who you are, make sure he knows about your concerts. Tell him about your website. Whereas you have difficulties with engaging teachers and band conductors to regularly advertise the gigs in a club, you apparently could make them to refer the different Atlanta jazz bar and jazz jam sessions periodically. Having him aware of the concerts is better than nothing.
- As soon as you know who a student musician is, invite him to sit in your bar at gigs and jam sessions. Developing an understanding a student gives it much more possibilities that he will want to attend your bar.
- Get bar promoters to do student-oriented promotions such as poor-cost entry or relaxed age demands. Be sure a student knows about the promotions.
- Besides, the owner can meet his audience, make club owners involved in promotion, promote himself at Atlanta jazz websites, on the radio, in local music stores, and market his recordings.
- The arrangement of a jazz bar is having the visitor desire for having the products and services of it. It has the new types of processes for serving the markets by selling the products such as food, drink, and music shows. The engagement of desires is to experience for making the successful strategy within the organization of a jazz bar.
The next business potential is that a jazz bar is going to be an increasing sector with quality products and services. In this case, the bar has high demand products for people. As a result, the clients help the bar increase its products and services. In the instance of production differentiation, the musical products were significant for winning in the trade place. It is one more business potential for jazz bars. In the instance of cash flow analysis, a jazz bar can rent out its square to some food or drink producers, musicians, etc. The cash flow of a jazz bar is increased day by day. Hence, the business potential of such a bar is innovative.
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In Case of Risk, a Jazz Bar Has Some Kinds of Threats
The first one is cost competitive ability, which would lead to marketing risks, price cutting risk, and income pressure within a bar when selling food and drinks. In reaching the customers, the bar has the risk of shortage of new jazz bands for visitors because currently there are not many jazz bands in Atlanta. The stakeholder assurance is to be the business potential of the bar in which it has the risk of growing of role of government and regulation. The next business potential is to be operative mobility in which it has the risk of guiding the talented skill shortages (English & Moate, 2009)
The rewards of business potential in such a bar contain the mastery in investor relations when selling food and drink. The quality of products and services, marketing product increase, enhancement of mastery strategy across the business functions, and local optimization and relocation of key functions are to be the rewards of business potential in a jazz bar. The rewards of such a bar allow creating the stronger bonds with its stakeholders. It will maximize the would-be marketing potential for selling a jazz bar’s products and services. Apart from this, the rewards of business potential of such an organization have the capacity and ability of providing the products effectively. Consequently, the business rewards contributed for the enhancement of the bar.
The business potential of such an organization is feasible by providing qualitative and new products for a client’s satisfaction. It is also feasible in the instance of providing corporative events, evening live shows, and providing stage for new musicians. Apart from this, it is to be better in the case of improving the advertising and marketing tendency for the enhancement of the bar. The bar made business potential feasible by enable free-entry days and securing the location of the bar. The ranges of fiscal option are also helpful for making the business potential feasible.
In conclusion, it should be noted that the assessment and tendency of business potential have been discussed and the supporting points have been provided. The assessment of the environmental, psychographic, demographic, and geographic tendency has been concentrated for a jazz bar in Atlanta. Moreover, the business opportunities for chosen industry have been included and the implementation of business potential was evaluated. The explanation of risk and rewards of business potential in such a bar has been developed. The feasible business potential of a jazz bar has been concluded.