Best Practices
This class provided a great deal of information on artist, and product management, and how the two come together as one in the road of building an artist image. I learned that as an artist manager you are a full-time multi tasker the artist is virtually depending on to succeed in the entertainment industry. The link that I detected between the artist and product management, and the one that made the most sense to me was the product endorsement. “ Product endorsement involves the artist name, and likeness being directly connected with a specially manufactured product line” (Frascogna, Hetherington, 2004, page 174).
So although there are many best practices to choose from, I decided to address the ones that I feel I will be able to use in the future. There is no particular order of importance as they are all useful tools for anyone in the business:
· When taking up the task of managing an artist you should always have a clear understanding of the responsibilities you have as detailed in the contract. This is something I can use in the future if I do get the chance to manage a versatile artist such as Prince Cat-Eyez.
· Along the same lines of the above paragraph I believe that as an artist manager you must always go over all the details in the contract, and have a professional draw up the contract to ensure that all the legal language is clear to all parties to avoid conflict in the future. This is something that I can definitely use in the future to protect myself against liability, and in the event of a lawsuit I will have the tools to have a favorable judgment in court. The varied nature of relationships makes it difficult to draw general provisions but every contract will have certain key terms in common (Frascogna, Hetherington, 2004).
· In terms of product management I believe that is always a best practice to have a specific goal you are trying to accomplish with the launching of a new product. Will the goal be a short-term goal or a long-term goal? This is something I can definitely use now and in the future since I am working on a home based business that involves a website I am promoting that has all kinds of home products. Research should always be present to determine the market conditions including, buying trends, demographics, location, and such.
· The best practice when it comes to marketing I product is diversification. The purpose I see behind it relates to new channels that come up everyday to reach the consumer; this will affect not only how he or she views a product but also even how he or she will purchase it. In the home business I am trying to launch this is a very important tool I will be using to reach new consumers.
These best practices are just a sample of the huge amount out there that can vary based on need, channel of distribution, market, and much more. As a artist/product manager this is an ongoing process that should only improve over time.
Frascogna, X., & Hetherington, H. (2004) The business of artist management. New York: Billboard Books, an imprint of Watson-Guptill Publications Group, a division of Random House Inc. New York.