Radio is one of the best entertainment platforms for many people. We are happy to inform the public that CBKB talk radio will remain strong in key areas covered by FM frequency. CBKB is a huge marketplace for millions of people in the main city of Kingston, Ontario. It has the capability of attracting a huge number of listeners using the different types of enjoyable programs. For this objective, CBKB talk radio mainly focuses on music. Moreover, the radio station also transmitted programs such as Hello Ontario, Kington Calling among others. Hello, Ontario happens to be the most popular show. The market position of CBKB is 70 % on the FM radio sector.
SWOT Analysis
SWOT analysis can be described as a strategic planning tool used in evaluating the strength and weaknesses, consider internal factors and opportunities of an organization. Some of the key strength that can be looked into when conducting a SWOT analysis are the advantages of an organization against its close rivals. For instance fasters process of making decisions. Some of the weaknesses to be considered during the process are; what areas require improvement? What are competitors offering that the organization isn’t? For instance strength in marketing and technology. Some of the key opportunities that need to be considered when conducting a SWOT analysis are the changes needed in technology that can benefit the organization, new trends and ways the company can benefit from them.
Some of the Threats that can be considered during the process of conducting a SWOT analysis are what the competitors are better than the organization, how the overall economy affects the business returns. The process involves specifying the key objectives of a business venture and identifying the some of the key internal and external factors of the organization.
Strength:
CBKB Talk radio is one of the biggest radio stations in Kingston, Ontario. Its marketplace is huge, covering millions of people over the main city in Ontario. The CBKB has the potential of attracting a huge number of listeners through the different kinds of interesting programs. The key strength of the organization is the data collection techniques generated by the listeners that can make the organizations much better and address its weaknesses and threats. The organization receives new applications of programs from its listeners. This assists them to create great programs. It also offers Radio Jokey as a way of getting the support of the listeners. CBKB radio has strived to develop a strong cooperation with its listeners.
Weaknesses:
Currently, CBKB radio becomes more commercial. Therefore, the station often presents advertisements of different companies. As a result. The listeners might feel bored. In this cases, the organizations gradually reduce its regular listeners. When the listeners hear different programs from the radio, it retains them and attracts more. Another weakness of the organization is the late commencement of their programs.
Opportunities
Finally, through the newly employed persons in CBKB talk radio, it is no doubt that people are doing a great Job. Recently they increased their reach to the listeners using different wavelengths. Two key observation concerning CBKB talk radio can be considered as its great opportunities. First, we think of ‘Hello Ontario’ as the most reliable. Therefore, the organization can use the popularity of this program to reach out to potential listeners. Moreover, we propose that the organization’s management focus on the taxi drivers in Ontario. Through such a strategy, a great market awaits the radio market. Installing radios in the CNG will open up new channels for all people to enjoy the various entertainment and news.
Threats
Threats can be described as the external conditions which might build or destroy the effective performance of an organization. Currently, other radio stations such as Radio Today have also become more popular with the listeners. After a comprehensive analysis, this can be considered a huge threat to CBKB talk radio.
Target Market:
The target market can be described as the specific group of listeners that an organization aims at capturing. They are identified as a group of people with needs that can be met with the necessary needs or wants that need to be met from this company. The target market of CBKB talk radio is the young generation.
Market Segmentation and Targeting CBKB Talk radio.
CBKB is currently targeting new audience segment such as professionals. The targeted professional group includes both men and women between the ages of 30-45 years, with education levels of upper strata. The groups also include a middle-class mixture of status between married and unmarried. The main reason why the organization should target the professionals is that people at such levels are in the middle-class levels of the entire society and a strongly opinionated life. Listeners of the radio station should be divided into four different groups comprising of Private employees, Police officers, Entrepreneurs, and civil servants. Based on a survey of 200 radio listeners of CBKB Talk radio shows that most of the listeners are adult between the ages of 30 to 45 years.
72% of listeners are aged between the ages of 30-40 years, while 28 percent was made up of elderly people above the age of 40 years. The outcome of the study of 100 listeners shows that the occupation of the listeners includes: private employees, civil servants, police, and entrepreneurs. The radio audience segmentation has a majority of about 48 % self-employed, 31% of employed people. The rest of the group are civil servants and police.
Market Targeting Radio CBKB radio
Based on the finding of the market segmentation, CBKB talk radio will be the using a divided market segment. This implies that the organization will be focusing on the different market segments. This would allow the organization reach a diversified market segment, with a great understanding of the specific needs of the different segments. Targeting has two key objectives: selecting and choosing according to the criteria of the audiences in order to reach the audience much effectively. Xxx point out that, there are three major criteria that need to be met when assessing organizations and determine which segments to be targeted. It is important for organizations that the targeted market segment is quite diverse and would be quite beneficial for the organization. Companies can choose a small section at the beginning but can be diversified in the future.
Positioning Radio CBKB:
Positioning products are this report provides positions where the organization seeks to place programs presented that are acceptable to the target market segment, with the objective of edging its competitors. XXX points out that the placement of the product in the targeted market is often affected by a number of factors such as the difference in form i.e. a set of activities incorporated to bring a meaningful design. Such would help in distinguishing the products of the organization with the products of the rivals positioning of products is a management strategy that utilizes information to provide a certain impression regarding the product in accordance with the wishes of the intended market. Due to stiff competition from other radio stations, CBKB radio always broadcast programs with more accurate information in order to maintain its position in the in the market. Position of products is a strategy used by the organization, to build a marketing strategy prioritizing on the targeted population. Such is accomplished by integrating information and music that is acceptable to the targeted audience, with 20 hours amount of airtime every day from Monday to Friday.
Promotion Strategy
One important thing that needs to be put into consideration when coming up with a radio promotion strategy is segmented audience affiliated with the radio station or network. This is often easier with local radios that have a clear following based on the taste of entertainment and political views. CBKB listeners can be divided into their ages or subcultures. Moreover, they can also be divided based on their political inclinations. However, this often changes once the organization implements internet radio, which allows a more customized experience for the customers, therefore reaching a more audience.
Radio promotion strategy is different from other promotion strategies because the forum of radio requires exclusive audio presentation. Unlike other forms of advertisements, which use imagery and color, radio promotion often focuses on the audio messaging. This might appears to be a challenging task, but creating high-quality audio commercials has turned to be a form of art. CBKB must focus on the tone of the commercial, the actor’s voice, and music. All these things must be incorporated to come up with something audible and stimulating to the audience.
It is also important for CBKB to consider, direct advertisements with a clear-cut call to action. It is also important to consider the presentation of the products being advertised in order to select the most suitable method for the market. Various advertising agencies can be very important in producing the most appropriate promotion strategies since they have the expertise to come up with the most effective marketing campaign.
Products
CBKB offers ad sales as one of its major products. On air, advertisements make up a significant part of the revenues made by any radio station. CBKB sells airtime to various organizations that wish to diversify their market with messages regarding the products and services. The prices are usually different depending on the length and time run. The cost also affected by the show during which the advertisement is aired. The position of each advertisement can also have a huge impact on its value, with those aired after the end of a show have the highest prices. In some cases, advertisements are presented by on-air personalities with the objective of increasing the number of prospective audiences when the favourite host is speaking. Such positions tend to cost more than the traditional commercials.
Syndication
Different radio stations are always on guard for some of the best on-air personalities, in part of their popularity and the revenues it will bring to the station , and also in part of the possible syndication offered by a popular show . In the case of CBKB Talk Radio, should sell the rights to air “Hello Ontario “to other stations in exchange profits. New stations are willing to fill their broadcast with some of the most famous shows and usually will compete with one another for a chance to do so. The popular the show, the more the host stands to make more profits.
Plane and prices
The cost of radio advertising for a week at CBKB is approximately $200 to $5000 depending on the spot. Moreover, factors such as the cost of producing an advertisement should also be put into consideration, which often ranges from $1,000 to $ 2,500. The cost depends on what has been included in advertisements, such as stock music, editing etc. The more the people tune in to the station and might hear the commercial, the more the price. The demographics of listeners is very important for the organizations. Some target groups are more popular than others. Since the most popular audience is between the age of 35-40 years. Airtime prices would be much higher.
Sample Print Ad
Conclusion
The main focus of this analysis is to establish the extent to which CBKB should adopt new strategies and subsequently advise the station on how to implement better strategies in case the existing ones come short. A radio station is a business like any other, concerning providing customers what they need in order to make profits. Therefore CBKB radio must become accountable and offer value for money to the customers and advertisers if they wish to profit from their interaction with the listeners.
