Marketing Plan Marketing programming to listeners Market research - How? There are two kinds of market research: primary and secondary. Secondary research means using published information such as industry profiles, trade journals, newspapers, magazines, census data, and demographic profiles. This type of information is available in public libraries, industry associations, chambers of commerce, from vendors who sell to your industry, and from government agencies. with your local library. Most librarians are pleased to guide you through their business data collection. You will be amazed at what is there. There are more online sources than you could possibly use. Your chamber of commerce has good information on the local area. Trade associations and trade publications often have excellent industry-specific data. Primary research gathering your own data. For example, you could do your investigation about the programming in the market and develop focus groups to test your programming ideas and to learn about consumer preferences. Consider professional market research. In your marketing plan, be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all-important sales projection. Economics Facts about your industry: What is the total size of the listening market? What percent share of the market will you have? Current demand in target market for the programming you are doing? Trends in target market—growth trends, trends in consumer preferences, and trends in product development. Growth potential and opportunity for the station down the road What barriers to entry do you face in entering this market with your new company? Some typical barriers are: High capital High production costs High marketing costs Consumer acceptance and brand recognition Training and skills Unique technology and patents Unions
Marketing Plan Marketing programming to listeners Market research - How? There are two kinds of market research: primary and secondary. Secondary research means using published information such as industry profiles, trade journals, newspapers, magazines, census data, and demographic profiles. This type of information is available in public libraries, industry associations, chambers of commerce, from vendors who sell to your industry, and from government agencies. with your local library. Most librarians are pleased to guide you through their business data collection. You will be amazed at what is there. There are more online sources than you could possibly use. Your chamber of commerce has good information on the local area. Trade associations and trade publications often have excellent industry-specific data. Primary research gathering your own data. For example, you could do your investigation about the programming in the market and develop focus groups to test your programming ideas and to learn about consumer preferences. Consider professional market research. In your marketing plan, be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all-important sales projection. Economics Facts about your industry: What is the total size of the listening market? What percent share of the market will you have? Current demand in target market for the programming you are doing? Trends in target market—growth trends, trends in consumer preferences, and trends in product development. Growth potential and opportunity for the station down the road What barriers to entry do you face in entering this market with your new company? Some typical barriers are: High capital High production costs High marketing costs Consumer acceptance and brand recognition Training and skills Unique technology and patents Unions
MMTC%20LMA%20RFP%20081011.docx