Introduction
Soulo karaoke is an effective application system that holds conventional features that aid in sharing the information between individuals. The ”sing a long” system has a library of various songs that are popular among music fans. It acts as an essential entertainment support system, and is especially popular among the youths. Thus, this project focuses on establishing the imperativeness of Soulo Karaoke and its brand strategies.
The application’s market position, niche and value
Indeed, the product was introduced in the market through the adoption of a niche market entry strategy by its producers. The strategy was deemed appropriate since it helps the establishing products to gain popularity and acceptance very quickly (Longhurst 23). Similarly, it remains a viable entry strategy in a market that is characterized with intense competition in the technology industry. Its producers target the youth and low income earners as they are initial customers in the niche settings.
They were targeted since they were a neglected group by other companies that operated in the same industry. Notably, the strategy yielded immense benefits to the application’s developers since it was easily accepted by youths and subsequently other individuals who use mobile systems. The strategy has immensely facilitated strategic positioning of the application in the market (Longhurst 26). This is noticeable since it is widely accepted and used by many individuals.
Its branding and leader strategy
The product holds a strong position in the market as depicted by its key features that include portability, flexibility, tonal enhancement capacity and video creation. Its developers were keen on developing a product that holds unique brand features and name to counter the dominance of key competitors in the market (Jenkins 43). They were also keen on producing a brand that youths could easily identify and that could satisfy their needs. As noted, the brand strategy was technologically and innovatively generated.
It was developed based on creative ideals from the initial stages of idea generation to product launching and marketing. In particular, the product’s brand name was exclusively selected, its marketing strategies were well designed and its operating systems also remained well installed. These aspects explain the brand strategy that the product’s developers have adopted in facilitating sales of the item (Jenkins 49).
Internal strengths and financial-risk
As noted, the application has immense internal strengths that propel its acceptance among potential customers. The strengths are derived from its features and incentives that its users receive (Haley and Younge 6). Firstly, it enables users to sing and share their performances with others with much ease. This enables various music fans and video lovers to share information pertaining to music or video shows effectively via Facebook or twitter. It also supports quality recording of songs since it provides real-time voice enhancers or regulators. Thirdly, it is portable and easy to install in compatible phones such as 3G phones, iPhones and iPads.
Consequently, the application supports the execution of multiple activities such as video streaming, recording of songs and sharing of information across networks.
Despite the application’s noble strengths, it has diverse financial risks that its producers and users must observe. Firstly, its developers must ensure that it is safe, it is of quality and that it holds the capacity of satisfying customer needs effectively. This is essential in ensuring that its sales volume remains high to facilitate effective recovery of cost. This is also important to facilitate high returns (Haley and Younge 6). Similarly, users of the application should take precautionary measures when purchasing the application to ensure that they do not loose out by buying substandard applications.
Works Cited
Haley, Alex and Gary Younge. The Autobiography of Malcolm X, London: Penguin, 2001. Print.
Jenkins, Mark. iPad Music: In the Studio and on, Boca Raton, FL: CRC Pres, 2012. Print.
Longhurst, Brian. Popular Music and Society, Cambridge, UK: Polity Press, 2007. Print.