Case of the Fashion Channel
The Fashion Channel Case Analysis
Problem Statement:
The case of the Fashion Channel exhibited possible failures and multiple problems. After thorough review of the case I felt the core problem is the failure to focus on a specific demographic. TFC had run off the marketing strategy of “something-for-everyone” for plenty of years and found success in this untouched niche of fashion television. Without competition, this marketing mentality had been very profitable, and started drawing up attention from other networks. With rising competition in this network specialty, TFC was losing CPM (cost per thousand) advertising value and market share. Stuck in the past success of their previous marketing strategy, TFC is in dire need of change. Create a strategy to successfully reach a powerful viewer segment to increase the ratings in highly valued demographic groups to ultimately increase CPM pricing. In the end Dana Wheeler would need to drive revenue growth, increase viewership, and increase advertising pricing.
Situation Analysis:
Strengths: The biggest strength of TFC is the fact that they are providing fashion television 24 hours a day 7 days a week. This can play a huge part into the CPM value if you are a company who deals with fashion and wants to reach a specified fashion segment of viewers. The network has also had great past success. They found a niche and created something that has not been seen before, giving their network the competitive edge on their competitors. Being the only network offering fashion, TFC has the experience, expertise, and ability to capture specific segments with high interest in the fashion industry.
Weaknesses: I feel their biggest weakness is that TFC is stuck in their old ways, using the pitch of “something-for-everyone”. This is great when there is no competition, but when competition rises there is need to find a more specific market segment. They didn’t know who their target market was nor did they know the demographics
Problem Statement:
The case of the Fashion Channel exhibited possible failures and multiple problems. After thorough review of the case I felt the core problem is the failure to focus on a specific demographic. TFC had run off the marketing strategy of “something-for-everyone” for plenty of years and found success in this untouched niche of fashion television. Without competition, this marketing mentality had been very profitable, and started drawing up attention from other networks. With rising competition in this network specialty, TFC was losing CPM (cost per thousand) advertising value and market share. Stuck in the past success of their previous marketing strategy, TFC is in dire need of change. Create a strategy to successfully reach a powerful viewer segment to increase the ratings in highly valued demographic groups to ultimately increase CPM pricing. In the end Dana Wheeler would need to drive revenue growth, increase viewership, and increase advertising pricing.
Situation Analysis:
Strengths: The biggest strength of TFC is the fact that they are providing fashion television 24 hours a day 7 days a week. This can play a huge part into the CPM value if you are a company who deals with fashion and wants to reach a specified fashion segment of viewers. The network has also had great past success. They found a niche and created something that has not been seen before, giving their network the competitive edge on their competitors. Being the only network offering fashion, TFC has the experience, expertise, and ability to capture specific segments with high interest in the fashion industry.
Weaknesses: I feel their biggest weakness is that TFC is stuck in their old ways, using the pitch of “something-for-everyone”. This is great when there is no competition, but when competition rises there is need to find a more specific market segment. They didn’t know who their target market was nor did they know the demographics