A long time ago I published an article on this site where I spoke about some of the detriments that I believed AI and artificially intelligent music production would have had on the music industry. Now that this technology has developed significantly (and also now that I am much less of a materialist than I was when I wrote the other article), I feel very differently and much more optimistic about the benefits that this new technology can have for creators.
Music is a universal language that can connect with people from all walks of life. But how do you market your music to reach both broad and niche audiences? How do you balance appealing to the masses and catering to your core fans? How do you stand out from the crowd and find your unique voice?
In this article, we will share some tips and strategies on how to market music to both broad and niche audiences. We will also show you how to use online platforms and tools to optimize your music marketing and grow your career.
In the world of music marketing, targeting and segmenting consumers based on their needs, preferences, and behaviors is critical for success. Broad and niche markets are two different ways of doing this. A broad market consists of a large and diverse group of consumers who may have a general interest in music. A niche market, on the other hand, is a small and specific group of consumers who have a unique interest in a particular genre or artist.
Marketing to these two different market types requires different strategies and approaches. For broad markets, it’s essential to create a message that appeals to a wide range of people. This message should highlight the universal qualities of the music and appeal to the commonalities shared by the audience. Conversely, marketing to a niche market requires a tailored message that appeals to their unique interests and preferences.
To reach both broad and niche markets, ad platforms can be highly effective. One such platform is YouTube, which provides tools and features that enable music marketers to create, distribute, and measure their ads across various channels and formats. YouTube has a massive reach, which can help marketers reach millions of people with relevant music content. Additionally, YouTube has diverse content and a range of ad solutions that can help marketers showcase their music and brand in the best possible way. For example, music marketers can connect with specific audiences based on particular genres or moods by utilizing YouTube’s music lineups.
A great example of this is how Billie Eilish’s music has been marketed on YouTube. She has a broad market appeal with her unique style and relatable lyrics. However, her music also appeals to niche markets, such as the alternative and indie music scenes. YouTube has helped Billie Eilish reach both broad and niche markets by promoting her music on various channels and music lineups. As a result, she has become one of the biggest stars in the music industry, with a massive and loyal fan base.
Billie Eilish Performing Live
Define Your Music and Your Audience
The most important step in identifying your niche audience is finding a concrete and concise definition of what your music is. Yes, of course you’re unique, but so is everyone else in this industry. Sit down, critically listen to your music, and see what adjectives come to mind.
Are you a pop singer with a soulful twist? A rock band with a punk attitude? A hip-hop artist with a social message? A jazz musician with a fusion flair? A classical composer with a modern touch?
Once you have a clear idea of what your music is, you can start researching who your potential audience is. Who are the people who would enjoy your music? What are their demographics, psychographics, behaviors, preferences, and pain points? Where do they hang out online and offline? What are their musical tastes and influences?
One solid way to uncover your sound and tap into your niche audience is to identify artists who sound like you. Not only can you observe the tactics these artists used to connect with their own fanbases, but you can also introduce yourself – and your music – to those scenes.
For example, if you are a pop singer with a soulful twist, you can look at artists like Adele, Sam Smith, or John Legend. You can study their music videos, social media posts, interviews, playlists, collaborations, and live performances. You can also join their fan communities, interact with their followers, share your music, and ask for feedback.
By doing this, you can learn from their successes and mistakes, find out what works and what doesn’t, and discover new opportunities and trends. You can also build relationships with potential fans who already have an affinity for your style of music.
Self Reflecting Monkey
Create and Distribute Your Music Content
Once you have defined your music and your audience, you can start creating and distributing your music content. Music content is any form of content that showcases your music, such as songs, albums, EPs, singles, remixes, covers, videos, podcasts, blogs, newsletters, etc.
The key to creating effective music content is to make it interactive, diverse, consistent, authentic, and valuable. You want to create content that engages your audience, showcases your personality and skills, tells your story and message, provides value and entertainment, and encourages action.
For example, you can create interactive content by hosting live streams or Q&A sessions on YouTube or Instagram. You can create diverse content by producing different types of videos or podcasts for different platforms or purposes. You can create consistent content by releasing new songs or albums on a regular schedule or following a theme or concept. You can create authentic content by being yourself and expressing your opinions or emotions. You can create valuable content by offering exclusive access or rewards to your fans or sharing useful tips or insights.
The next step is to distribute your music content across as many platforms as you can. You want to reach as many people as possible with your music content while also targeting specific segments of your audience.
For example, you can use YouTube as your main platform for uploading your music videos or live streams. YouTube is the world’s largest and most comprehensive music platform, with more than 2 billion people coming each month to experience music. You can also use Spotify for Artists to upload your songs or albums on Spotify, the most popular streaming service in the world. You can also use TikTok to create short videos or challenges with your songs or covers, tapping into the viral potential of the platform.
By distributing your music content across different platforms, you can increase your exposure and reach new audiences. You can also optimize your performance on each platform by using their specific features or built in paid advertising.
Find and Join a Discord Community
Discord servers and communities are such amazing ways to reach those niche markets in music marketing! It’s like finding a needle in a haystack, but once you find that group of people who are super fond and close-knit, it’s game over! These communities bring people together who share a deep love and appreciation for a particular genre, artist, or music scene, and that fondness and closeness among community members is pure gold for musicians and music marketers. It allows for a more intimate and meaningful connection with the audience, leading to more loyal and dedicated fans. Plus, these communities offer music marketers the opportunity to get insights straight from the source, gathering feedback that can further refine their marketing strategies.
One of the most powerful ways to market your music to both broad and niche audiences is to advertise your music on YouTube. YouTube offers various ad solutions that can help you reach your marketing goals, such as increasing awareness, driving traffic, generating leads, or boosting conversions.
One of the ad solutions that you can use is YouTube audio ads, which are designed to serve brand awareness and reach goals with audio content on the video platform. YouTube audio ads are similar to radio ads, but with a visual component that displays on the screen when played.
YouTube audio ads are ideal for reaching music and podcast listeners who use YouTube as an auditory medium. You can create interactive and engaging audio ads with a voiceover, music, sound effects, and a simple image or animation. You can also measure the impact of your audio ads with Brand Lift surveys.
Another ad solution that you can use is YouTube video ads, which are designed to capture attention and drive action with video content on the video platform. YouTube video ads are suitable for reaching viewers who watch a variety of content on YouTube, such as music videos, live streams, tutorials, reviews, etc.
You can create compelling and creative video ads with high-quality visuals, sound, and storytelling. You can also choose from different video ad formats, such as skippable in-stream ads, non-skippable in-stream ads, bumper ads, discovery ads, or outstream ads.
A third ad solution that you can use is YouTube music lineups, which are designed to connect your brand with people based on particular genres or moods. YouTube music lineups are pre-built segments that help you reach your audience using the most relevant content.
You can select from different types of music lineups in Google Ads, such as dynamic lineups, YouTube Select Music Lineup, or Top 100. Dynamic lineups are locally relevant by country and can include seasonal events, travel, sports, media and entertainment, beauty and fashion, video games, and more. YouTube Select Music Lineup consists of the top 5% of premium music content across YouTube globally, such as official music videos. Top 100 is powered by YouTube Charts and aligns your brand with the most popular artists and songs across your key markets.
By advertising your music on YouTube, you can leverage the platform’s massive reach and rich data to target your ideal audience and optimize your campaign performance. You can also benefit from the platform’s diverse content and range of ad solutions to showcase your music and brand in the best possible way.
Conclusion
Marketing music to both broad and niche audiences is not an easy task. It requires a clear understanding of your music and your audience, a creative and consistent production and distribution of your music content, and a strategic and effective advertising of your music on YouTube.
However, if you follow the tips and strategies we shared in this article, you can achieve your marketing goals and grow your career as a musician. You can also use online platforms and tools like Soundcharts to track the performance of your marketing campaigns and get actionable insights to improve your strategy.
Remember that marketing music is not a one-time event but an ongoing process. You need to constantly monitor your results, test new ideas, learn from feedback, and adapt to changing trends and preferences. By doing so, you can market your music to both broad and niche audiences successfully.
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Something we often seem to forget is the benefit of having constraints. Consider time. You probably feel, all too frequently, like you’re running short on it. It seems like we never have enough to get everything done, both on a day-to-day basis and the scale of a lifetime. But with a little contemplation, you may realize that without time (or the limit of it) you wouldn’t get anything done. If you had forever to do something, you could put off doing it forever. It seems that the constraint of time pushes you not only to get things done, but also to choose what things you really prioritize doing. The same can be said for many other constraints we face.
One personal example of constraints stimulating progress was my own original experience with music production in junior high. I started my musical journey playing trombone in the 6th grade band. My interest was piqued and soon I was religiously practicing guitar chords on my dad’s Yamaha acoustic. My interest in making music then spiraled into a full-fledged romance and I began searching for a way to compose full songs on my own. With a little research I discovered that you could make music in your own home using just a computer. However, all I had for a computer was my parents’ chromebook, good for little more than browsing the web and unable to run any sizable software. But to my joy I discovered a website which had not only a virtual studio that ran entirely online with no software, but also a community in which people posted, reposted, and commented on each others’ tracks. There were groups dedicated to giving feedback, and all of this was with the purpose of becoming better producers. It was called Soundation.
So I delved into the world of music production and soon became intimately drawn to the wide world of electronic music. I fell in love with the intricate soundscapes and unique timbres that could be created by means of electronics. My love for electronic music has always remained since, in large part due to its ability to synthesize unique emotions. As my skills in making songs progressed, I gained more recognition on the website and got more positive feedback, and soon my skills were rocketing upwards as if I were a light beam shooting up a chimney of mirrors. However, a problem arose; as my songs got better and more intricate, the computing power of the chromebook did not. My songs were now fairly regularly utilizing 20 – 30 “channels”, each attached to a different virtual instrument and set of notes or chords. The chromebook did not like this at all, and it would only allow me to listen to two or three channels at a time before freezing up, leaving me unable to hear anything. Creating and refining tracks now became a process of working on a couple channels then privately exporting the track, listening and deleting, making a couple more adjustments, and then repeating.
Although this sounds like a nightmare of inefficiencies, I have since realized that back then it worked to my advantage. The effect of the tedious process was that I was forced to find my style quickly. At the same time, having to pour so much focus into the process of making music was so engaging that I was constantly in and out of flow-states where it felt like I was delivering creative juice to my tracks straight from the source. Way more attention had to be poured into the details which paid off in uniqueness, and fellow producers increasingly noted the creativity expressed in my songs. This I believe directly resulted from my computer situation; the constraint stimulated creativity.
Before my sophomore year in high school, I had somewhat mastered the Soundation studio and had amassed a solid web of friends and followers on the website. I had finally saved up enough money from birthdays and doing yard work for my grandma to buy a competent laptop and a fresh copy of FL Studio. I was ready to move onto the next new challenge. When I opened FL on my new computer I was excited to discover that I could play 30+ tracks with ease and the dazzling variety of new virtual synthesizers inspired me to dive into a sea of new timbres. Once I jumped over most of the hurdles that come with learning a new software, I started producing tracks that were much more refined than my Soundation days. However, I found that the tracks I was producing lacked a little of the creative glimmer of my old ones. I realized then that the frustrations of making music with the chromebook had naturally extracted much more creativity out of me. By and by I have learned to combine my new skills and technology with my style and uniqueness, and I use the relative freedom of FL studio to my full advantage. But I also recognize that without the limitations of my earlier days, I would never have gotten to the place I am today.
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Pink floyd didn’t make much sense to me until recently.
Dark side of the moon was an album that baffled me. I remember the first time I tried listening to it I sat there dumbfounded as I listened to a man laughing, panting, running, and an analogue synth droning a melody in my right ear. I took my headphones off and announced to my dad that I didn’t like pink floyd. I didn’t find the use of seemingly random noises pleasing, and it all just seemed like the lazy implementation of disjointed experimental concepts.
My dad gave me a funny look upon this announcement and explained simply that, “It’s part of the music Will.” I took the time recently to sit down and listen to the album in its entirety and it’s a masterpiece. There was a lot of 70’s art rock that was self indulgent but the effortless transition from track to track, the sense of calm slowly turning into a sense of panic, the manic moments to the slow burning moments, everything in this album was intentional. It’s an album that requires patience but is a truly gratifying piece of art.
This is something listeners (including myself) often miss now. On demand streaming and streamlined stylistic choices in music have made it so that listeners often have little patience with their music and it does a disservice to not only the listeners but the artists who take the time to meticulously craft bodies of composition that aren’t only just assorted tracks, but are pieces of art.
Enter Absence by Mondaze.
Absence is a nearly hour long album in which most tracks wouldn’t make sense in isolation. The album artfully blends experimental styles in lo fi hip hop, ambience, and soundscape composition. Each track could be dissected in its entirety but for the sake of readability this article will focus on some of the big ones.
The opening title track sets the stage for the album well, giving the listener a taste of what’s to come. There’s not a lot to talk about but the track captures an unsettling tone early. The clever use of stereo with the percs and hats keeps the listener on their toes and adds a bit of bounce despite the eerie atmosphere. The percussion fades out as the synths develop in sound until the track comes to a head with full beat around 4:00.
Empty Without You 2.0 is where the album really begins to take shape conceptually and it does so intimately and directly. Dreamy, carefully crafted synths take the back seat to what seems to be personal conversations between Noah and a camera shy partner. The separate clips show a connection between the two while the melodic elements express what could most easily be described as hurt. The lo fi aesthetic remains throughout the track (and album for that matter) as the percussion comes in and the pads come to the front of the track. To describe this track as atmospheric would be an understatement. Various synths come in to play a few different melodies and while diverse in sound, they stick to a dreamy lo fi aesthetic and blend beautifully with one another. The album thus far has articulated an almost sickening feeling of loneliness and takes a bit of a detour with the track thoughts.
Thoughts sticks to the dreamy aesthetic with mellow, soft, yet very present synthesis. A robotic voice ponders ideas about life and the world as a whole, over top of crowd noises and synths. The track feels busy and larger than life. All the different pieces seem to move in unison but remain bustling and in motion. There’s a smooth transition into a beat that sees influence in trap, lo fi, and synthwave and is ultimately a creative moshpit. The track feels as though it has abandoned feelings of loneliness. It’s almost blissful amongst the surrounding tracks toying with feelings of angst and isolation. The comfortable escape from these feelings quickly disappears however in the effortless transition between Thoughts and Have a Great Day.
Have a Great Day is the first of a few tracks that features what seems to be a mentally unwell man. The track opens with him explaining via voicemail to a woman that despite their failed attempt at a date, he was going to work on himself and they were going to go out again. He is awkward, shy, lacks social cues, and is obviously struggling to connect with this woman. While the man’s borderline rambling continues, another spacey lo fi beat fades. At this point the track just feels unsettling. As the man makes his case and lays out his plan to self improvement, the lonely and hollow feeling beat sets a depressing mood. You want to cringe as he tries to crack a joke to the recipient but the track fills you with sorrow. It captures an uncomfortable feeling of awkwardness, insecurity, and isolation that everyone has felt before. What’s more interesting about this track however is its placement in the album. The juxtaposition of Thoughts and Have a Great Day provides commentary on the everyday tribulations we all experience. The album expresses thoughts and concerns about ideas we simply can’t comprehend and quickly jumps to a man – who we don’t know, dealing with deeply personal issues that feel as daunting and insurmountable despite their lack of tangible and widespread impact.
Lavender 3.0 is where the album begins to feel truly reflective. The dreamy synthesis remains in this track but it’s true expression is felt through a piano. The melody feels dejected but also hints at a bit of acceptance. Despite the incredible feeling of sorrow and loneliness that persists the album begins to acknowledge these emotions. It’s with the acknowledgement of these emotions and the reality that’s created them that the stage is set for these emotions to grow out of control.
Residual expresses another shift, this time towards anger. The dark sound design and synthesis feels bitter and as though all the feelings expressed up to this point were finally being pointed at something. It’s through reflection and meditation on the emotions expressed thus far that this feeling of anger is able to form. The track seems to take influence from synthwave but has a dark and twisted atmosphere. Once again the album sets the state well for further progression, and not only for progression but for its climax.
Sadstation is easily distinctable as the tipping point of this album. Up to this point it had built tension with feelings of loneliness, sorrow, depression, and general angst. All these feelings channel towards what seems to be complete and utter desperation as the man leaving voicemails reappears. He’s looking for any chance he can get and lacks any and all self awareness. His downward spiral is apparent as he tries so hard to grab the attention of this woman who is long past him. The creepy synthesis is unnerving and feels confused. Everything is falling apart and this is ultimately expressed in the second half of the song. The second half to Sadstation feels as though it’s given up. All the emotions expressed and articulated throughout Absence come crashing down into what feels like the first real step towards acceptance. A sad piano melody accompanied by slightly off beat lo fi drums feel upset, but surprisingly tranquil. The sense of peace expressed in Sadstation blends nicely into the last few tracks that wrap up the album. They feel very tranquil and as if there’s some kind of progress being made towards happiness. It’s a bittersweet way to close that album.
After speaking with Mondaze my impressions of these tracks and their narratives were confirmed. He was telling a story about his teenage years and his struggles relating with peers, heartbreaks, depressing lows, and rebound highs.
This was one of the first albums I really engaged with as a listener and focused on the narrative and it honestly blew me away how accurate my interpretation of this project was. Upon finishing the album it felt like I had sat down and had a conversation with Noah. These types of albums are important. Absence’ssongs in isolation wouldn’t make much sense and could just be chalked up to cute experimental/lo fi records but all together form something completely different. As listeners, it’s important to take the time to appreciate truly expressive bodies of art. Albums that not only feel like a compilation of tracks but cohesive bodies of work that hold artistic value.
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Gibson Brands is an American music manufacturing company. They primarily manufacture guitars but are not limited to this, as their other products include other instruments and a wide range of audio equipment. The following will focus on the supply chain and operations of the average guitar from Gibson.
Competitive Strategy
Gibson follows a differentiation competitive strategy. This is evident by their approach to pricing. Most of their guitars are high end and unique. Even their cheapest options are far more expensive than an average retail guitar. This increase in cost is due to the increase in quality and uniqueness of each design, which makes differentiation of the Gibson guitar brand from other guitar brands, a prime selling point. This is especially true in cases where famous musicians play these guitars and the make and model of the guitar becomes associated with the artist, thus differentiating it further while simultaneously increasing awareness of the product.
Competitive Priorities
The competitive priorities of Gibson Brands are ranked (in order of highest to lowest) as:
Quality
Flexibility
Cost or Price
Quality is the most important competitive priority for Gibson Brands and cost/price is the least important because Gibson sacrifices low costs and prices for high quality products and flexibility. Flexibility is their second priority. This is evident because of their customizability when it comes to certain consumers and public figures.
Order Winners and Qualifiers
Order Winners for a Guitar Manufacturer
Order Qualifiers for a Guitar Manufacturer
– High-end product design – Design creativity and uniqueness – Customizability – Brand recognition and brand loyalty – Design recognition and design loyalty (For example, the Les Paul model is favored by many guitarists) – Digital applications such as MIDI compatibility (which is a strategy that Gibson uses to differentiate itself from another popular guitar company called Fender)
– Ability to manufacture guitars – Ability to transport and supply guitars to retailers/consumers – Playable and good quality sound – The look and feel of the guitar fitting the consumer’s taste
Supply Chain and Company Strategy Alignment
A Gibson factory operates at a capacity that utilizes 500 workers making 2500 guitars per week by hand. There are 3 factories in the united states, each of which manufacture a different type of guitar. Solid body electric guitars are made in Nashville, Tennessee. Semi-acoustic guitars are made in Memphis, Tennessee. Full acoustic guitars are made in Bozeman, Montana. They are able to ship internationally as their products are non-perishable, and shipping costs are less relevant to them because of the differentiation competitive strategy that they utilize. They transport finished goods by truck to retailers that are not overseas, and ship by boat (rather than air) when necessary due to the high volume of exported weight per shipment of guitars.
Gibson guitars are made to stock, meaning that a set amount of them are produced based on a set of criteria (the criteria primarily being supply and demand based on long term forecasting). However, they do offer an assemble to order option for musicians who are particular about the guitars they play. Customers can pick and choose between a multitude of different components for their guitars. The forecasting method that Gibson uses is a seasonal naïve approach. They stock materials and finished goods based on the average demand for the time period they are in. For example, shoppers are more engaged in the month of December leading up to gift giving holidays, and therefore the likelihood of selling guitars increases. Difficulty arises for Gibson when a certain style/make/model of guitar becomes popular unexpectedly (via its endorsement from a famous musician, or other random factors).
Because of the diversity in materials configurable for each guitar, and the amount of materials used on a daily basis, Gibson stockpiles its raw materials and resources. It is crucial that Gibson does not run out of these supplies, and that they have them at their disposal whenever they are demanded for a guitar.
When it comes to quality and lean, this is very important for Gibson products. All products are inspected multiple times during production. A strict quality standard must be met for Gibson guitars before they are finalized because quality is the most important focus of Gibson’s competitive strategy.
Since the company primarily relies on making their products to stock, but still gives customers the option to customize, it falls in between the center and far left on the X axis of the Product/Process Matrix. Since they also create a huge amount of different products and these products are fairly complex with lots of steps and assembly involved, it is almost at the top of the Y axis of the Product/Process Matrix (not all the way at the top because there are other companies that one could argue have more complex processes than Gibson). This is only for a handful of specific custom guitars though. Most of their product line is done systematically in a batch process, which brings the company’s position on the Product/Process Matrix further up on the X axis and further down on the Y axis.
More on Gibson’s material use/sourcing/procurement: Sourcing suppliers is important because they demand high quality materials to uphold the standards of their differention competitive strategies. When it comes to quantities of said materials, Gibson directly procures and then purchases its materials before they are needed, in order to take a lead approach and always have the materials in stock.
A list of the materials needed for a Gibson guitar follows:
Wood, such as maple or mahogany (type is variable and for certain models more than one can be utilized)
Water is used to maintain humidity within facilities to keep the wood fresh
Various machines and tools for manufacturing (such as sawmills, glue wheels, etc)
Glue, vinyl, and cloth strips for binding
Mother-of-pearl, abalone, or acrylic for fingerboards
Fret wire
Paint and lacquer for the exterior
Pearl or silkscreen for logos
Nuts and screws
Pickups
Internal Wiring
Steal for strings and tuning pegs
This list is not exhaustive as there is a multitude of models that Gibson makes that require less frequently procured miscellaneous materials.
Gibson has a different supplier for each of these materials (excluding pickups which they mould themselves). They often attempt to source materials that are made in the United States; however, they sometimes must make exceptions when these such materials are not available in the country (for example Rosewood). For this reason, most of Gibson’s suppliers ship to them by truck, but when it comes to importing materials from overseas, they must be delivered first by boat, and then by truck.
Most of these materials are purchased from strategic alliances from regular suppliers that Gibson trusts to supply high quality materials consistently (except for the manufacturing equipment which is done via a request for proposal from suppliers as needed because these materials depreciate slower and are bought less frequently). However, sometimes spot purchases are needed in situations where it is more optimal to buy a certain material elsewhere. An example of this is rare occasions when a better quality of material can be purchased for cheaper.
Overall, the company’s production process aligns with its competitive strategy, but their strategy has not been working out very well recently due to inability to cut costs. Reasons for the high cost are:
The need for their products to be high quality. This means that premium materials must be purchased on a regular basis. This includes high quality expensive woods, top notch/complex electronics, and more.
Gibson’s employees are skilled craftsmen and most of the labour is done manually. Their salaries are more than the average factory worker, and thus must be accounted for in the price of the guitars. For this reason, Gibson can be considered as operating over capacity, which is not ideal for the company.
There are laws that protect the specific materials that Gibson would otherwise be able to purchase at a cheaper price. An example of this is rosewood, which Gibson uses but must import from India because it is scarce in the United States and therefore is protected under natural resource laws.
As a result of Gibson’s inability to cut costs and their necessity to maintain a high-end differentiation strategy, the company has accumulated over $500 million in debt as of this year.
More on Gibson’s financial troubles and its capacity; Gibson has attempted to adopt a lead capacity strategy since the beginning of the 2010s, meaning that they hoped on maximizing profits by exceeding capacity. This was done by merging with and acquiring various other audio companies in an attempt to become “the largest music and sound technology company in the world,” quoted from their CEO at the time. Gibson was trying to branch out its line of products and increase its overall capacity in service of the strategy. Evidently, they took on more than they could handle as the company filed for chapter 11 bankruptcy in 2018. The company is still recovering from this setback.
Risks
Gibson’s two biggest risks that it has had to deal with are changes in market demand and geopolitical/environmental risks.
Changes in market demand is a known-unknown risk and Gibson experiences this due to the fact that electric guitars are simply not as popular as they were when the company was founded. The company’s competitive strategy responds poorly to this because while it was once sustainable to put all the work and effort into the production of high quality guitars due to the demand being high, there is now a question of ‘is it really worth it now that they do not sell as well?’.
Geopolitical/environmental risks fall into the unknown-unknown category of risks and were mentioned in the example used earlier in this paper: the environmental regulations involving rosewood. All this means for Gibson is that costs are increased, which does not really have a negative effect on their competitive strategy (cost being lower in favor when compared to quality). However, increased costs are not to be ignored given the company’s troubling financial situation.
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Drozdowski, T. (n.d.). The Making of a Gibson USA Guitar. Retrieved October 13, 2020, from http://legacy.gibson.com/news-lifestyle/features/en-us/309-gibson-usa.aspx
Gakmusicblog. (2019, November 20). Gibson: MADE 2 MEASURE. Retrieved September 28, 2020, from https://www.gak.co.uk/blog/gibson-made-2-measure/
Jay. (2018, February 07). What The Electric Guitar’s Decline In Popularity Tells Us About The Current State Of Music. Retrieved November 24, 2020, from https://blog.reverbnation.com/2018/02/06/electric-guitars-decline-in-popularity/
