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ITunes price changes hurt some rankings - Assignment Example

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The article points out that two days after Apple iTunes Music store raised its prices on some individuals tracks, the sales dipped and with that the rankings of the songs. The iTunes top 100 chart registered 40 songs at $1.29 and 60 songs at the normal $0.99 price point…
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ITunes price changes hurt some rankings
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Download file to see previous pages The article points out that two days after Apple iTunes Music store raised its prices on some individuals tracks, the sales dipped and with that the rankings of the songs. The iTunes top 100 chart registered 40 songs at $1.29 and 60 songs at the normal $0.99 price point. After the price change, the $1.29 songs lost 5.3 places on the chart while the $0.99 songs gained an average 2.5 chart positions. These changes give a general idea of how incremental changes in revenue can be reached. Moving up and down the chart impacts the revenue greatly which in turn is impacted by price changes. These changes are solely chart position, but a general idea of incremental changes in revenue can be reached. By looking at the unit sales of the most recent Soundscan top track downloads chart, the different between chart positions can offer a view into how moving up and down the chart impacts revenue. An assumption here is that the iTunes Top 100 chart is representative of the Soundscan top track downloads chart. Given its market dominance, this is a reasonable assumption. I chose this article because it gives a good idea of how small changes in price can turn around Sales. A significant notion raised by this article is the way in which how prices alter the rankings of songs in the music industry. The prices change the rankings and the rankings which in turn impact sales and revenue. This article relates to chapter nine of our text book in which key issues related to initiating and responding to price changes are discussed. Buyer reaction to price changes are a result of the value the customers see in the price change. (Glenn Peoples) Works Cited Glenn Peoples, Nashville. How iTunes Price Changes Hurt Some Rankings. 10 April 2009. 19 May 2011 . Article: 7 in 10 Americans say High gas prices hurt This article is related to a recent chapter that we covered from our text book. Customers don’t react to price changes in a very straight forward way. A price increase is expected to lower sales. This is because a brand’s price and its image are closely tied together. Price changes will alter consumer perception about a particular product and the way they want to consume it. Thus price is a very critical factor. I chose this article because it offers insight into how price changes in a mandatory commodity such as gas influences the common man. The survey was conducted by USA today in which they asked people if recent changes in prices of gasoline have impacted them financially. 7 in 10 Americans believed it did. More than half of them claimed that they have had to make changes to account for higher prices of gasoline. 21% of them felt the impact so heavily that they believed it jeopardized their standard of living. (Stauss) Stauss, Gary. 7 in 10 Americans say high gas prices hurt . 18 May 2011. 19 May 2011 . Article: Apple and Starbucks announce music partnership The article talks of the Apple and Starbucks music partnership. Under this partnership, customers at Starbucks will be able to wirelessly browse, look around for music, buy and download music from the iTunes Wi-Fi Music Store at Starbucks on their iPod touch, iphone, Mac or PCs running iTunes in a participating location. They will also be available to avail the new “Now Playing” service under which the name of the song playing in the Starbucks store at that particular moment will be shown. They will then be able to buy and download songs directly to their device. The partnership will benefit both Apple and Starbucks and is a classic example of horizontal marketing. I selected this article because I felt that having free access to the iTunes Wi-Fi Music store and the Now Playing service of Starbucks is a great ways to attract customers to both Starbucks and Apple iTunes. It will trigger greater revenues for both companies. This ...Download file to see next pagesRead More
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