Research On The Development Strategy Of Classical Music Business In Company K

In recent years,with the increasing popularity of classical music,the market size of China’s classical music market continues to grow rapidly.Company K is the leading enterprise in the domestic classical music industry,with the largest library of classical music content in China.Its business covers classical music licensing service and online subscription service,smart classical music education,and classical music events.However,company K has suffered book losses for two consecutive years and its stock price has fallen.Under this background,this paper firstly analyzes the internal and external environment of Company K based on Maslow’s Hierarchy of Needs,Porter’s Five Forces Model,VRIO theory and business model theory and with reference to various reports on macro environments and industry analysis,then raises the problems about Company K’s current business development and the reasons for the problems through interview with the management and the study of its financial reports,and finally proposes relative solutions based the conclusion of questionnaire survey and actual situation of Company K with the aim to improve the business performance and enhance the competitiveness of the company.This paper concludes that promoting the brand through correct channels,continuously providing a large number of high-quality contents,and optimizing the music app user experience will help Company K improve its brand influence,increase the number of individual users.In addition,adjusting the business model of the smart music education courses business via shift target users and tuition fee share methods will control the cash out of this business to stabilize the company’s cash flow and reduce losses.Furthermore,improving the effectiveness of the classical music events team will help make full use of the company’s resources and team skills,expand market share,and increase income.Meanwhile,the implementation of the solutions about business development also requires stable capital inflow and human resources activation system.