TV channel marketing
Course name- Brand Management
Course Instructor- Asif Iqbal
Prepared by- Md. Abdul Jabbar
University of Liberal Arts, Bangladesh
22 February 2013
Brand management is a marketing technique for a specific product, product line, or brand. It helps to increase the product's perceived value to the customer and so increase brand popularity and market share. Promoters use brand as an implied promise that the level of quality people have come to expect from a brand will continue with future purchases of the same product. We can decide to marketing for a new TV channel and hole paper prepare for this topic.
For proper marketing we can choose marketing mix that helps us to making brand of it. Marketing mix modeling is an analytical approach that uses historic information, such as syndicated point-of-sale data and companies’ internal data, to quantify the sales impact of various marketing activities. ROI have to consider in it.
This is accomplished by setting up a model with the sales volume/value as the dependent variable and independent variables created out of the various marketing efforts. The creation of variables for Marketing Mix Modeling is a complicated affair and is as much an art as it is a science. Once the variables are created, multiple iterations are carried out to create a model which explains the volume/value trends well. Further validations are carried out, either by using a validation data, or by the consistency of the business results. Marketing mix contain with 4P like product, promotion, price and place.
The business has to produce a product that people want to buy. They have to decide which ‘market segment’ they are aiming at – age, income, geographical location etc. They then have to differentiate their product so that it is slightly different from what is on offer at present so that people can be persuaded to ‘give them a try’.
Customers have to be made aware of the product. The two main considerations are target market and cost. A new business will not be able to afford to advertise on national television, for instance and would not wish to because its market will be local to start with. Leaflets, billboards, advertisements in local newspapers, Yellow Pages and ‘word of mouth’ would be more appropriate.
The price must be high enough to cover costs and make a profit but low enough to attract customers. There are a number of possible pricing strategies. The most commonly used are:
* PENETRATION PRICING – charging a low price, possibly not quite covering costs, to gain a position in the market. This is quite popular with new businesses trying to get a ‘toehold’. * CREAMING – the opposite to penetration pricing, this involves charging a deliberately high price to persuade people that the product is of high quality. Luxury car makers often use this strategy * COST PLUS PRICING – this is the most common form of pricing. Costs are totaled and a margin is added on for profit to make the total price.
Satellite is the cheapest was to have a channel; that’s £280k per year for space & Sky EPG. Technology to payout the programmer from £50k-£100k. Programming costs? Variable, Music Tv would be a fixed 28% of revenue in licensing. Producing real programmers is expensive: Bravo & Challenge for example pay £15k per 30 min for original programming to be made by independent producers - the shows would be run 2 or 3 times on its first scheduled day (6pm, repeat 11pm, 11am/2pm the next day) and then run many times each year...bringing the cost down to about £700-900 per hour. So, we have to consider all of it and pricing like low profit for sustain in competitive market.
The business must have a location that it can afford, and that is convenient and suitable for customers and any supplier.
Effective marketing base on 4P
1. Choose a memorable channel name and brand. For example, Spike...