Good La! Radio Marketing Case Study Example

Market segmentation involves defining or identifying smaller parts of a homogeneous market that are different from each other. Different market segments have different wants and needs.In each of the different market segments, there exist different customers who have different needs from each other. Market segmentation is a form of targeting a certain market according to their needs. For example, a meat company may sell beef and pork in an area populated with Christians but refraining from selling the pork in an area populated with Muslims. Therefore, every other type of meat may be sold in an area populated by Muslims. The markets which are segmented must have needs that are almost alike or similar for market segmentation to take place effectively.
La! Radio targets several markets. This radio station is primarily a women’s radio station. However, it wants to also get the male listeners. The station discusses tips on how to make women happy to politics, and food. There are also segments for those who like comedy and live talk shows. The station aims to attract virtually everybody and not limit itself to shows about women alone. The station also wants to attract different types of women; those who go to work and are career women and those who are stay at home mothers or wives. Some of the programs that the radio station will air are primary to attract men. All the same, the radio station hopes to have reached its target which is about 7% of all listeners who listen to radio in the country.
The stakeholders for this radio station includes those who have a right or a stake to the radio station. They include those who listen to the radio programs that is the listeners, the staff working tirelessly to produce new and interesting programs, the owners of the radio station and management and those who fund the radio station. The stakeholders make the radio station a social network in which money and information are exchanged throughout the programs. Without the listeners who are in this case the customers of the radio station, the organization would not function. Without proper management and skilled staff, the radio station would also not have the programs it make s for its customers.
The buying process makes it possible for a listener to choose a radio station. The listener spots his or her needs, gets information about the radio stations and chooses the best suitable one that provides programs that he or she might like.
A market has an environment affecting businesses. A radio station must first consider its macro and micro environments. Using pest analysis, the macro factors of the environment are what should be regarded as most before starting up a radio station. The macro environmental factors include the political factors such as how to pay taxes, the economic factors which include the economy of the country and the world. The recession may affect the profits that the radio station makes. The radio station should also look at the social factors in the community. It should do its investigations and know what it should avoid broadcasting about in the community since it might bring out tension. It should also consider adapting emerging technology and act by the law of the country.