Recording Industry Core Functions The next three chapters examine in detail the two core record company functions: the acquisition of masters and the marketing of those masters. This chapter explores the ways a label can acquire masters, primarily focusing on the label’s efforts in finding recording artists, signing them to contractual obligations to record masters, and producing those masters. Chapter 8 analyzes the ways labels market their recorded products using the “four Ps” approach to focus on product lines, promotion, place of sale and distribution, and pricing. Although most labels do not sell their recordings directly to consumers, retail, the final phase of marketing, is critical to the industry. It is especially important because sales of most recordings are through specialty stores or through specialty rack jobbers who provide recordings to mass merchandiser’s record/electronics departments. Chapter 9 provides a closer look at record retailing.