Marketing mix of the music industry in the United States and South Korea

Abstract

Even though many (probably most) people, would think that the music industry is still/ngrowing, figures show that this sector is shrinking. However, the United States and South/nKorea reported good trends on their revenues. This paper aims to provide a better/nunderstanding of the music industry of an emerging country (South Korea) compared to/nthe leader in the industry (the United States). The four elements of the marketing mix/nare used to explore their music industry and to identify the differences and similarities/nbehind their successes. This study shows that their promotion of the music industry is/nfairly similar, the place is similar, but the distribution strategy is different, and their/nproduct and price are completely different. The similarities found are mainly related to/nthe globalization through the internet. By contrast, the differences are derived from/nhistorical, cultural and economic aspects.