The Kollection Case
While on vacation in 2010, young entrepreneur Brian Lovin was doing what most young teenager at his age do, streaming music. His musical preference of mashup, combining two musical songs together, was relatively new and becoming quickly popular among his generation. Lovin realized that of all the blogging sites that carried this type of music were poorly designed and maintained by amateurs with little web design and development experience. As a result of this, Lovin decided to put his experience in web design and development to use in creating The Kollection; a blogging website dedicated to downloading new unheard musical artist (Longenecker 648).
Considering the motive behind Lovin’s idea for starting The Kollection; co-authors Longenecker, Justin G., et al., of Small Business Management …show more content…
Since Lovin already had an established .com site, along with the knowledge and ability to design the site to his specification, he had a startup advantage over his competition. Also, the site grew to 1 million visitors per day, which allowed Lovin to expand into merchandising appeal with the company logo on tee shirts (Longenecker 648). Given these points, Lovin capitalized on an existing market by giving the consumer marketplace a new design on an existing service.
More importantly, the SWOT analysis indicates that those strengths can also become the company’s weaknesses if they do not pay close attention to the changing market. As noted in the weaknesses, The Kollection focuses on a musical niche. Because of this niche and the success of The Kollection, the market for blogging and streaming new musical artist is saturated with new entrants. Because of this, The Kollection will lose some of its 1 million customers if the company does not adjust. With this in mind, Lovin and his team will need to commit more time and effort into developing a new strategy to gain new
Considering the motive behind Lovin’s idea for starting The Kollection; co-authors Longenecker, Justin G., et al., of Small Business Management …show more content…
Since Lovin already had an established .com site, along with the knowledge and ability to design the site to his specification, he had a startup advantage over his competition. Also, the site grew to 1 million visitors per day, which allowed Lovin to expand into merchandising appeal with the company logo on tee shirts (Longenecker 648). Given these points, Lovin capitalized on an existing market by giving the consumer marketplace a new design on an existing service.
More importantly, the SWOT analysis indicates that those strengths can also become the company’s weaknesses if they do not pay close attention to the changing market. As noted in the weaknesses, The Kollection focuses on a musical niche. Because of this niche and the success of The Kollection, the market for blogging and streaming new musical artist is saturated with new entrants. Because of this, The Kollection will lose some of its 1 million customers if the company does not adjust. With this in mind, Lovin and his team will need to commit more time and effort into developing a new strategy to gain new