Discussion 3A

4 thoughts on “Discussion 3A”

  1. Cathy this is very well done. When I see this kind of essay, I am already sure your final exam essays will be top notch.

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  2. I agree with you that as the K-pop industry transitions into a business to business industry, consumers play an essential role. How the business to business industry generally works is one business pays the other to enter their market. For example, automobile advertisements with popular celebrities from the K-pop industry may appear in Youtube videos before a K-pop music video. If the K-pop industry did not have a large amount of consumers, then other businesses would not pay them because they have no market to advertise. How I see the long term progression of business to business markets is that businesses are together in one category, and are working together competitively to try to attract as many consumers as possible from different markets in order to create a self-sustainable ecosystem. How dedicated fans are to a certain business also plays an important role to how much one business is willing to invest in another. For example, a C-pop company would be willing to invest much less into a K-pop company that did not have dedicated fans because it would seem easier to pull the traction over. On the other hand, if fans were very loyal to a certain K-pop group, a C-pop company may pay more to be associated with that group and earn the exposure from that set of fans. I think you are correct in saying that social media platforms are providing another form of advertisement and exposure with little to no cost. Nowadays we are entering an era where data collection is worth more than simply good products. With businesses all being so accomplished now, the ones that can get ahead must predict what the future market wants. To do so, data must be collected from a niche such as K-pop fans to predict the products and events that will generate the highest income. Stars in the K-pop industry are mainly money making machines for the companies. Every successful business needs consumers, rather it be fans or other businesses. In the K-pop industry, the celebrities are the product and the first line of consumers are the fans, then the second line of consumers are businesses that want to access those fans. Therefore if the fans did not want these stars, then other businesses would not be interested in a market without consumers and K-pop companies would not be a sustainable.

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