Cable Television in Terms of Its Repositioned Target Market Demographics Using US Census Data - Assignment Example

? Cable Television in Terms of its Repositioned Target Market Demographics Using the US Census Data Cable Television in Terms of itsRepositioned Target Market Demographics Using US Census Data Cable television intends to provide new services to individuals who need an affordable, convenient and reliable system of accessing information and entertainment. Cable television’s customers include children, adolescents and elders. Cable television focuses its resources to market its new services to family households. These households comprise children; who are fond of watching cartoons and other entertaining games, adolescents; who like watching movies and music and the elders; who are mostly keen on watching updated news and talk shows. About 52.1% households in the U S earn over $50, 000 per year. This provides cable TV with a high potential of increasing its sales, market share as well as its brand awareness (US Census Bureau, 2009). There is a total of 117, 538, 000 households in the US that comprise all the racial groups (US Census Bureau, 2010). This shows there is a sizeable number of households cable television will market to in the targeted group. Census data also predicts the market has potential of growing in the coming years. Cable television targets families as it provides different channels suitable for family viewing and that will suit each member of the family. Cable television targets a wide range of individuals in all age groups, and they range from 5-60 years. The main users of cable television range from 15 to 40 years. The main target markets, therefore, include students and teenagers, professionals and business people, and seniors. The student and teenage population has an enormous desire for non-stop entertainment, and easy access to entertainment will attract this group. The population continues to grow, and this is a crucial aspect for cable television’s customer base. Professionals and business people have a strong desire of keeping up with current trends in the business world. They also like to have access to the internet where they will keep in touch with their business partners. Cable television will provide these services to this group. Elders have a strong desire of watching talk shows and news, and they will be able to acquire these services from cable television. Types of Research Needed to Reposition Cable Television Cable television is positioned at providing continuous entertainment and information at affordable prices to all its viewers. The main aim of the business is to provide services to its consumers in an effective and unique way. Cable television aims at casting channels through which individuals can access their favorite programs. This concept will enable the business to build a strong relationship with individuals who initially may not like cable television. Repositioning cable television requires extensive research. Market research has to be carried out to determine the preference of individuals and to show people the benefits of the services. This method will convince a large number of people to subscribe to cable television so they can enjoy the new services. Research has to be done regarding market needs of the target population. Rapid growth experienced in the field of information technology is the beginning of a trend towards an economy based on the infrastructure of cable television. Cable television should, therefore, ensure that it keeps up with the changing trends that are taking place due to changes in information technology so that it can provide up-to-date services to its customers. Methods Used to Increase Adoption Rates After identifying the target market and researching on consumer insights, cable television should develop a new overall image integrated with an awareness-building program aimed at shifting perceptions about cable television. Cable television would use two key methods to increase adoption rates of the services it offers to customers. The first method will focus on attracting new customers. This will be achieved through advertising the benefits of the new services in both print and electronic media. The second method will be aimed at maintaining the existing customer base by providing them with high quality services by ensuring constant maintenance of transmission and signal lines. Cable television will also maintain existing customers by offering special discounts to households that use their services heavily, that is, households in which there are many connections. Setting up a call center where customers will be able to provide feedback and ask for assistance is also a good strategy that will retain customers who usually think about using other services to access information and entertainment. Cable television should also use promotions to establish a brand and a loyal customer base. This will improve the adoption rates as more individuals would subscribe for the services. Marketing efforts will mainly focus on the local markets where it would create popularity about its new services. This strategy would increase its revenue sales and generate huge profits. Print media such as billboards, leaflets, and newspapers are some of the marketing efforts that will be adopted in the promotion to increase adoption. These methods ensure that clients and consumers will be well informed. This will enable cable television to rise above its competitors and exceed its annual business goals. Determining whether a New Service Component Will Provide New Interest in Cable Television A new service component will spark a new interest in cable television as it will attract a large number of customers mainly excited by excellent services. Individuals live in a world of information and everyone has a great need of knowing events happening in the whole world. It is for this reason that the new service components will attract people as everyone has a need to have access to as much media as possible. New services for cable television are an effective solution for fulfilling the needs of individuals by telecasting many channels. This will increase customer demands for cable television services in the market. A cable television company, through its repositioning, will provide efficient services by laying wiring services all through the regions it serves. It should also include amplifiers to improve the signal strength. Customers will be attracted as they will be able to easily purchase cable into their homes that will connect directly to their television sets or to a cable box. Consumers will develop new interests in cable television as they will be able to receive better reception and an increased number of channels. Improved reception will result in improved audio and clearer pictures. Cable television makes it possible for numerous channels to share a single broadcasting space. This means that the same transmission system can carry many channels. Consequently, there would be no need of maintaining separate transmitters (Chipty, 2001). Individuals will prefer cable television as it will offer them unique programming without content restrictions as is the case in traditional networks. Distribution Problems and Methods of Addressing the Problems Cable television services will be distributed through transmission lines for it targets households located in densely populated areas who would like to access the services. Cable television will provide connection to households by spreading a network of cables. Cable television may be faced with a problem of generating clear visibility, especially in households located in densely populated areas. This problem can be solved by adopting fiber optic technology. This technology will ensure clear visibility in households and the business will take up a significant market share as fiber optic technology signals are good and have minimum chances of dropping. Improved cable technology especially through the use of fiber optics has many benefits. Optical fiber cables provide a great capacity for installation of new access networks, and, therefore, improve transmission of many channels. References Chipty, T. (2001). Vertical Integration, Market Foreclosure and Consumer Welfare in the Cable Television Industry. American Economic Review. 91(3):428-453. US Census Bureau. (2010). Income, Poverty, and Health Insurance Coverage in the United States: 2009. Retrieved August 18, 2012 from http://www.census.gov Read More