Marketing and consumer - Essay Example

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Marketing and Consumer Table of Contents Answer to Question No. 1 3 Definition of Market Segmentation 3 Aimed Market Segment of La! Radio 3 Answer to Question No. 2 4 Definition of Stakeholder 4 Possible Stakeholders of La! Radio with Justification 4 Answer to Question No…
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Download file to see previous pages The marketers, through segmentation, aim towards precisely recognising the customers’ needs and thus considering the process as to how the customers decide to choose one alternative product or service from among several alternatives. On the other side, the customers are acquainted with segmenting themselves and generally do not observe the marketers’ segmentation of the market (Wedel & Kamakura, 2000). Aimed Market Segment of La! Radio The market segment aimed by La! Radio is that of male market segment. The Chairwoman at La! Radio claims that her company’s brand is ‘men friendly’ and mentioned that her radio station wants the men to listen to their on-air programs. Through the market survey that each marketer conducts before targeting a market segment, it has been found out by the chairwoman at ‘La! Radio’ that ‘men’ hold an urge to know more and more about ‘women’. This fact is evident from the huge number of male readership to famous women magazines such as that of the ‘Cosmopolitan’ and many others. For La! Radio, in the entertainment industry, this fact with regard to the male has instigated the prospect of the male market. Answer to Question No. 2 Definition of Stakeholder A stakeholder is an entity or a person of the organisation that has a concern or stake in the actions of the organisations. ...
Possible Stakeholders of La! Radio with Justification There can be five probable forms of stakeholders for La! Radio: suppliers, customers, internal entities, external entities and other stakeholders. Suppliers are the providers of equipments required for a radio station and services related to the provision of the equipments. They would hold the stake in La! Radio because it is at its initial stage and would have purchased the equipments on credit for certain time period. The suppliers would keep a close watch at the radio station’s performance so that they can receive their term amount on time. Customers would consist of the listeners who love music and holds the habit of listening to radio programs and could not leave the habit even for a single day. The internal stakeholders would be the volunteers and paid staffs who are working for their respective purposes which can be earning needs or as a passion. The external stakeholders are the competitors, universities and schools. Competitors would always keep a close watch at La! Radio’s each step to avoid intensity in the rivalry and the universities and schools would be anxious so that the entertainment programs do not hamper the students’ educational activities. The other stakeholders consist of all those who presume themselves to be stakeholders even if the radio station does not think so. Answer to Question No. 3 With the help of PRESTCOM analysis of the environmental factors that can have an impact on the establishment of La! Radio, the following factors have been evaluated: As far as the political factors are concerned, the applicant or the La! Radio would have to be eligible for holding the license under the terms and conditions of Broadcasting Acts 1990 and 1996. La! Radio should ...Download file to see next pagesRead More
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