Jay Z is an individual who came into spotlight as a Hip Hop artist being very gifted with lyrics and composing some of the best beats ever heard. Now days when you hear the name Jay Z more things come to mind than a hip hop artist but also I marketing genius. In this paper I intend on analyzing the four components of the marketing mix and how they influence Jay Z and his brand. Marketing Mix Analysis Overview Overall the Jay Z brand has quiet of an impressive overview he has built a very good and successful resume for him-self and others.
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The Jay Z brand began in 1996 when he released his debut album Reasonable Doubt, from then on Jay Z has put his mark on much more then Hip Hop music. He a very smart entrepreneur and a marketing genius who now has his brand name incorporated with Record Labels he has created, he has a movie label, a clothing line, a premium vodka, a sports bar in New York. He has started charitable organizations, a scholarship fund, a toy dive during Christmas time, and not to mention a very successful music career that has led to many awards.
He also is part owner of an NBA franchise and a spokesperson for many other brands. Product The Jay z brand consists of so many products, there isn’t just one to explain. Let’s start from the beginning the very first product was his music which has been very successful through the years and still is. He has the most number one singles ever, he has multiple platinum and gold albums. Another product he has is other musicians he has mentored and who have prospered under his guidance of his two record labels.
He has a very popular vodka line which is a very successful product, a night club in New York which is very popular with celebrities and athletes. A clothing line he started in 1999 was also a success it grossed $300 million in 2004, and a filming industry that has made 4 films. Now days a very important product is Jay Z himself who endorses more popular brands such as Reebok in which he has his own shoe line, Budweiser in which he serves as co-brand director for Budweiser Select. There are so many different investments he has his money in it makes Donald Trump look ridiculous.
Pricing The pricing of the products when it comes to albums are competition pricing this is including his own and the musician albums that are under his label. When it comes to his clothing line and vodka line they are demand-based pricing these lines are considered elite and are up there with the other elites within the clothing and vodka line, they are both in high demand and two great selling lines. The pricing is right in-line with the other brands and there would not be any reason for a change. Placement
Jay Z has recently expanded his clothing line Roca Wear to which he will be opening three hundred more stores on top of what is already open. The line just signed a deal to expand the clothing line into Japan, which is amazing just to think another 300 stores opening added to a clothing line that made $300 million just six years ago. With this deal the brand is now being sold in the right outlets across enough channels throughout the world. Promotional Mix There are countless commercials I can think of where Jay Z is endorsing some type of product, or hosting some type of event.
Having his name and face recognized with some of the biggest brands in the world today or hosting one of the most watched awards program helps his brand achieve more and more popularity, this itself is a great way to advertise, give your brand the PR attention it needs, helps with sales promotion and personally sale your brand. This is also a great example of integrated marketing communications because he is advertising his brand and instead of paying for advertisement time he is being paid at the same time the Jay Z brand is being advertised.
References 1. Carter, S (2010). Decoded. USA: Random House. 336 2. Fine, M. (2009). The Music Mogul. Available: http://www. cigaraficionado. com/webfeatures/show/id/Cover-The-Music-Mogul_6238. Last accessed 6th Feb 2011 3. Devereux, T. (2011). Jay Z’s Influence: Rihanna, Kayne West and Kid Cudi. Available: http://www. suite101. com/content/jay-zs-influence-rihanna-kanye-west-and-kid-cudi-a344579. Last accessed 7th Feb