A Strategic Analysis on the Growth of Korean Music Streaming Service: Genie Music
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This study aims to analyze music streaming services in Korea and offer suggestions for Genie Music to sustain its competitive advantage. Genie Music is one of Korea's most popular music streaming services, and it competes with domestic and foreign competitors. By conducting the case analysis, this paper found two strategic issues Genie Music is faced. The industry analysis and internal environment analysis constitute the foundation of this study. This study shows the external environment analysis for Genie Music by using Porter's five forces model. The result found that the external environment is saturated with competitors, and foreign competitors' growth creates intense rivalry. Based on the Resource-based view, the internal analysis shows that Genie Music needs to exploit new technologies to develop competitive resources. This study provides the issues Genie Music is confronted with and offers solutions to the strategic issues.
Abstract
This study aims to analyze music streaming services in Korea and offer suggestions for Genie Music to sustain its competitive advantage. Genie Music is one of Korea's most popular music streaming services, and it competes with domestic and foreign competitors. By conducting the case analysis, this paper found two strategic issues Genie Music is faced. The industry analysis and internal environment analysis constitute the foundation of this study. This study shows the external environment analysis for Genie Music by using Porter's five forces model. The result found that the external environment is saturated with competitors, and foreign competitors' growth creates intense rivalry. Based on the Resource-based view, the internal analysis shows that Genie Music needs to exploit new technologies to develop competitive resources. This study provides the issues Genie Music is confronted with and offers solutions to the strategic issues.
참고문헌 (20)
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