“The 5 Success Pillars of any Artist” is a contingency model designed by Nimble Agency to showcase what a successful artist is made of. The model stands at our basis for guiding artists successfully in their artistic careers. The
Three well-known models developed for international market selection are the ones of Root (1998), Johansson (1997) and Hollensen (1998). Nimble has combined these three models and applied them to artists in the music industry. By doing so, the following conceptual market selection framework has been formed.
In phase one, a subset of potential markets, called market segments, is established based on three determinants: the firm, the host country and the entry barriers of host countries. These three determinants are at the basis of a company's screening process. In phase two the subsets of markets will undergo non-general characteristics screening and fine-grained screening. Phase three will publish the final selection.
One benchmark in the strategic plan will be the forming of a market selection.
In the first step of your internationalization plan, you will decide on your target markets based on your as a firm and the host market. For the host market, it is interesting to explore and to determine your fit with the geographic location and social organization of a country. In some cases, the language and political barriers of a country will play a role. When you have thought of this, it is time to see how your existing networks of relationships and international experience can help you enter foreign markets. Last but not least, it is important to take your international goals and the size of your resources -time and money- into consideration.
In-depth screening and final selection
The country identification should give you a reliable subset of markets to choose from, preferably a list of between 10-20 options. The next step is to screen your options in-depth. Here, you will determine the market size and growth of your options. Also, you will determine in what markets your current network can give you the quickest access to distribution channels. Moreover, you will see to what extent you can market yourself successfully in the potential markets. The outcome of these factors combined will determine your final selection, forming a stable basis of your attempt to bring your passion to a global level.