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Tower Video

EXECUTIVE SUMMARY

This paper aims to address Tower Records Philippines' problem of being recognized as a VIDEO retail store aside from being known as a music retail store. It recommends that Tower Records open new branches carrying the brand, TOWER VIDEO. These stores would prioritize the display and merchandising of video titles more than the audio titles. Existing Tower Records stores will create separate and dedicated sections/floors for video in the hopes of Tower Records attaining market leadership in both audio and video retailing in the Philippines.

TABLE OF CONTENTS

I. Review of Current Brand Situation
II. Assessment of Brand Equity
III. Opportunity and Issue Analysis
IV. Objectives
V. Marketing Strategy
VI. Action Programs
VII. Financial Projections
VIII. Implementation Controls

I. Review of Current Brand Situation

International Licensing History

Tower Records has long been recognized and respected throughout the world for its unique brand of retailing. Opening for business in 1960 on Broadway in Sacramento, California, the first Tower Records store was named after the landmark theater anchoring the small shopping complex there. In that original store Tower's owner and founder, Russ Solomon extolled the very retail virtues which have been essential to Tower's phenomenal growth and innovation over the past four decades.

During the 60's the record business evolved providing hundreds of millions of people with ample and affordable access to the new, popular sounds being craved. Tower Records became an irresistible place to share the experience, embracing nine till midnight opening hours, 365 days a year, espousing "supermarket" style record merchandising and depth of catalog to boot.

A vicious hangover and a greasy breakfast led to a fortuitous 1967 encounter in a vacant San Francisco supermarket, enabling Russ Solomon to fulfill his dream and open for business a year later at Columbus & Bay....