MusicWorld - Redefining Indian Music Retailing


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Case Details:

Case Code : MKTG033
Case Length : 12 Pages
Period : 1997 - 2003
Pub Date : 2002
Teaching Note : Available
Organization : Music World Entertainment Ltd.
Industry : Films and Entertainment
Countries : India

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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Wooing Music Lovers Contd...

Thus, a majority of the trade in the Rs 15 billion (1999-2000) Indian music market took place through the small outlets.

In the absence of any major countrywide organized sector players, music companies had to shell out a huge amount as margins at various levels in the distribution channel.

Issues such as piracy of cassettes and CDs were a major problem, which prevented the industry from reaching its full growth potential. Given these circumstances, the establishment of outfits such as MusicWorld seemed to have come as a welcome development in the industry.

Background Note

The formation of the RPG group of companies dates back to the 1820s, when an entrepreneur, Ram Dutt Goenka came to Kolkata from Rajasthan. He began doing business with the British East India Company. As the business flourished, more people from the Goenka clan joined in and were involved in the company's other ventures such as banking, textiles, jute and tea.

Eventually, the Goenkas became names worth reckoning in the Indian business scene. Badri Das Goenka and Hari Ram were even knighted by the British for their contribution to Indian business, with the latter becoming one of the earliest presidents of the Federation of Indian Chambers of Commerce and the first Indian Chairman of the Imperial Bank of India3. The group assumed its present form after Hari Ram's grandson Rama Prasad Goenka (Goenka) came into the picture. Goenka was responsible for the formation of the RPG Group of companies. Over the decades, the group diversified into a number of businesses through a network of companies (Refer Table I for information about the RPG group companies).

Many RPG brands were a part of almost every Indian's life. Ranging from Ceat Tyres to Sprint cellular telephony and from the HMV music label to FoodWorld outlets, the RPG group touched the lives of a large number of Indians. During 1990-2000, the group's compound annual growth rate (CAGR) was 25%...

Excerpts >>


3] The Imperial bank later on became India's largest public sector bank, the State Bank of India (SBI).

 

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