To begin, advertisers are ready to pay a premium for higher rating as well as defined demographic programming. Channels with higher rating are able to charge more for advertising meaning that TFC can gain additional revenue if appropriate strategies are developed to help increase its overall market rating. Secondly, there is a more room for the company to increase its market size. Fashion specific programming is continually gaining prominence among viewers in the U.
How to Write a Summary of an Article? It was one of the most widely available niche networks with an 80 million subscriber base Stahl, It has had a constant growth above the industry average until the emergence of new competitors such as CNN and Lifetime in However, TFC is currently facing two major problems.
These are an unclear targeting group and an increased power of competitors. These problems could be also seen as their weakness. Since their target group is unclear, unclear strategies might be formulated that could hinder the growth of the channel.
Based on the customer and market data from the case, the largest current customer base of TFC are females between the age of 35 and 54 representing While their ideal targeting groups is slightly Fashion channel market segmentation essay females from the age of 18 to 34, they only make up for Generally, this group likes to follow the way celebrities dress.
Information about discounts in fashion stores and fashion recommendations are valued as well by this age range.
However, it should be noted that their income might be lower compared to other age ranges. On the other hand, male viewers could also represent an interesting customer base for the channel. Males nevertheless, focus more on new designs, fashion trends and new brands.
Different to young females, males can be less sensitive to price. Besides, the biggest customer bases for Fashion Today are females ranging from 18 to 34 years old representing They represent a big threat for TFC as the later might profit by targeting this age range in the future.
In order to change the current situation, Wheeler came up with three scenarios. The advantage of this scenario is the increase in net income partially because no incremental costs would be incurred. At the same time, TCL could also target the age group.
Also, in this scenario, no clear targeting group would yet arise. The second scenario is targeting the segment of Fashionistas.
The narrower segmentation will put the company in a disadvantage situation with a 0. The average rating could increase to 1. Meanwhile, younger aged females should especially be targeted if this segmentation is put into place. There is a possibility to lose customer loyalty in this case and consequently part of its customer base.
In this case, females from will be targeted as they represent their largest viewers base which takes In terms of positioning, 4Ps is appropriate to describe the strategic changes needed.
It is advised to modify the program profile into one that is more novel and intriguing to the younger generation by improving product quality.
For instance, it can invite celebrities more often to the program. Thus, it responds to the needs of the target group females aged It is predicted that with a lower price, more advertisers are willing to launch their ad on the fashion channel. Besides, TFC should boost promotion by opening a website with specific focus on fashion news and brands for youth, thereby rapidly establishing customer sensitivity and awareness to their product.
Lastly, in terms of Place, TFC might find it in their interest to expand overseas through contracting with foreign TV channels, producing tailored programs based on local preferences on fashion.Turnitin provides instructors with the tools to prevent plagiarism, engage students in the writing process, and provide personalized feedback.
Fashion Channel Market Segmentation Fashion Channel Market Segmentation Fashion Channel Market Segmentation SWOT Analysis Strengths 1. Specialist in fashion . Apply for entry now. There are two different application processes: apply online and apply by post.
The quickest and easiest way to apply for Postgraduate study at Henley Business School, at the University of Reading is through the University’s online application service.
This report is all about to show a Marketing plan for Nike’s products; with reference to older offerings the report shows the plan that how can Nike offer new products in the market.
CBSE NET Management Syllabus. Subject: Management (including Business Administration Management / Marketing / Marketing Management / Industrial Relations and Personnel Management., etc). In the HBS Fashion Channel case, Dana Wheeler considered 3 different market segmentation scenarios.
Various market research firms had divided viewers into 4 distinct groups: “Fashionistas”, “Planners and Shoppers”, “Situationalists”, and “Basics”.