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History Market Analysis Company Analysis Customer Analysis Conditions Analysis Competitor Analysis Marketing Strategy Target Marketing Selection Service Positioning. Marketing Mix Decisions Price Promotion Product / Service Distribution Service Financial Projections
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History Market Analysis Company Analysis Customer Analysis Conditions Analysis Competitor Analysis Marketing Strategy Target Marketing Selection Service Positioning Marketing Mix Decisions Price Promotion Product / Service Distribution Service Financial Projections Marketing Plan Assessment Controls Competitor Responses Anticipated Results KRKT Marketing Plan
History • Subdivision of Clear Channel Broadcasting Inc. • Broadcast out of Albany, Oregon since 1983
Market Analysis • Company Analysis • Customer Analysis • Conditions Analysis • Competitor Analysis
Goals Fulfill the country music listening needs of the Mid-Valley Do this by offering high quality country music Superior customer satisfaction Organizational objectives Market leadership Continually increasing market share in Mid-Valley Expand broadcast coverage and market share outside of Mid-Valley Strengths Mid-Valley’s most listened to radio station Highest rated morning show in the Mid-Valley Weaknesses Limited broadcast zone Portland to Eugene Company Analysis
Customer Analysis • Current target market • Primarily focuses: • Linn County • 102,200 people • Benton Counties • 76,000 people • Majority of listeners residing in Corvallis and Albany • Potential customers • College students • Large population in an isolated area (16,777)
Porter’s 5 Force Model High degree of rivalry between existing radio stations Medium threat of potential entrants Suppliers have high power Radio stations Buyers have extremely high power Listeners High threat of substitutes TV, MP3’s, CD’s, Internet Radio, Tapes Government regulations The music/material that is allowed on the radio Social and Ethical issues The music and material that is played over the airways Technological change Internet radio Conditions Analysis
Competitor Analysis KRKT has both Direct and Indirect Competitors • Direct • Indirect
Country Stations Pure Country 103.7 Always more music New Country 93.1 Continuous country favorites Cat Country 98 Other Local Stations KBVR 88.7 FM Oregon State radio KLOO 106.3 FM Corvallis rock classics KFLY 101.5 FM 80’s, 90’s & today KDUK 104.7 FM Today’s best music Rosie 105.1 FM Today’s best variety Direct Competition
Indirect Competition • TV • MTV • VH1 • MP3’s • Napster • CD’s • CD burning • Internet Radio
Based on Product/Markets Market development strategy Based on Competitive Advantages Differentiation Only country station targeting the Mid-Valley Key strategies for implementation Country swing dance lessons at the Peacock Bar Sponsoring the rodeo for the Benton County Fair and Philomath Frolic Hosting a country concert at Oregon State University KRKT Web Site Marketing Strategy
Country Swing Night • Peacock Tavern • Saturday night country swing dance lessons • Instructor from 10-11 pm • $3 Admission Fee • Open country western swing from 11 pm – 2 am • $2 Cover charge
Rodeo Sponsoring • Benton County Fair • Philomath Frolic & Rodeo • 47th Annual • Voted 2000 best rodeo of the year by the National Pro Rodeo Association (NPRA) membership
Country Concert • Oregon State University • Reser Stadium • Gill Coliseum • MU Quad
KRKT Web Site • www.krktcountry.com • Includes: • DJ biographies • Contests • KRKT message board • Links: • Artist’s web pages • News • Sports • Weather
Target Marketing Selection • OSU College students • Large population in an isolated area • 16,777 students • Alternative to mainstream music • Popular artist crossover • Country image
College Students Only country station marketing towards OSU college students Athletes Sporting events Agricultural College Ag. Day Greeks Philanthropies Parties Dorms Dances Types of listeners Mobile listener En route to some destination Music, news, weather, humor Work/Home listener Frequent/loyal listener More music, less talk Occasional listener Least station loyal Change frequency to suit their mood Service Positioning
Marketing Mix Decisions • Price • Promotion • Product / Service • Distribution • Services issues
Price • Non-retail business • Free service subsidized by advertising • Radio advertising • Length, time of day, repeats, and if the advertisement requires the need of a DJ • Internet advertising • Size, location, and longevity
Promotion • Promotion • Advertising • Newspapers • OSU sporting events • OSU / local bulletin boards • Fliers • Remote • Street team van • Web Site • Public relations • Charity of the month • Attend community events • Contests
Product / Service • Value • Listening enjoyment (music) • Entertainment (talk shows) • Information (news, updates) • Feelings of emotion • Benefits • Traffic reports • Special offers and promotions • Winning contests / prizes • Advantages • Longest music sets in area • Least commercial breaks
Distribution • Availability • Radio broadcast to people that can pick up the KRKT frequency • Internet broadcast to people with access to the KRKT web site • Distribution channel • Radio Station (encoder) • Radio tower (media) • Listener (decoder) • Potential Problems • Technical difficulties • Broadcast interference • Listeners outside of broadcast range • Weather
Services Issues • Expectations • A clear radio frequency • Procedures • Certain format • Mornings • More talk, less music • Afternoons • Traffic reports, updates, and news • Evenings • More music, less talk
Financial Projections • Projected costs • Projected revenues • Initial investment requirements for implementation of strategies • Cash flow projections
Marketing Plan Assessment • Controls • Competitor Responses • Anticipated Results
Competitor Responses • Anticipation • Potential responses • Modify strategy • Worst-case scenario
Anticipated Results • Probable scenarios • Realistic expectation • Financial gain • Increased market share • Enhanced market position • Increased awareness • Benefits
Financial Projections • Costs Of Promotions