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Russell Simmons Case Study

In: Business and Management

Submitted By jshlds
Words 317
Pages 2
Jeff Shields
New Venture Creation – DuVal

Russell Simmons – Case Study

1) Early on, Simmons decided that he wanted to make his own way in the world. He wanted to live a fast-paced life and call his own shots. Even though he did not like school, he still enrolled at the City College of New York as a sociology major.

2) The target market that Simmons is trying to appeal to is that of urban teens and young adults. He understood that his target market valued authenticity and “keeping it real”. In his words, “You have to tell the truth. It endears you to the community. The people can smell the truth, and they’re a lot smarter than the people who put the records out.”

3) By growing up while being heavily influenced by hip hop music and culture, Simmons had a distinct advantage in reaching out to and understanding his target market.; as he is/was one of that target market. This is advantages for him because he can know and understand what artist and styles will make it big when it reaches the public due to his experience in hip hop music and culture. This can also be a limitation, because he may not have as much experience in other cultures and music styles, thereby limiting him strictly to hip hop and preventing him from spreading his musical venture.

4) Hold a charity basketball game in the New York City community that features appearances from professional athletes. The market research necessary to ensure that it would be a success would be researching the traffic flow of the area to gauge ease of access, finding the demographics of potential hosting areas and deciding which has the greatest volume of the target market, and researching what the favorite athletes for that area are as to include them in the event.

5) Simmons’ ROI is 19,999%

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