Identify a new marketplace for an existing product/service
I work for the National Association of Broadcaters (www.nab.org) in the TV membership department. The TV membership consists mostly of commercial broadcasters but of the public broadcasting stations total only 36% are members.
I want to tailor a membership structure to get more non-commercial/Public broadcasting TV stations to become members of NAB.
Project Background/Situation Overview
The Background/Situation Overview and should be between 1,400-2,100 words. The Background/Situation Overview should include: I NEED THIS BY 2/18/07 SUNDAY, 7PM EST.
?Relevant company history (I have this) Please check the website on www.NAB.org
?A brief summary of the company's financial performance over the past five years ( I have this)
The following is where I need assistance for gaining public broadcasting stations as members. PLEASE BE VERY THOROUGH SO THAT I GRASP THE IDEAS AND THE INCORPORATION OF THE THEM
?A S.W.O.T. analysis of the company, business unit or product line.
?A key competitor analysis
?An analysis of the external environment
?An explanation of why the (NAB) needs to gain the public stations as members within their corporate portfolio.
*I HAVE PROVIDED MANY LINKS AT THE END THAT I HAVE RESEARCHED
Project Market Research Summary
?A description of the research methodologies you would employ if you were going to conduct an actual market survey
?A description of the research instrument(s) you would employ
?A listing of the types of secondary information sources you would evaluate
?An assessment of the major factors involved in product design as they relate to your selected scenario.
Product Features Overview:
This is the third component of your project. It should be 700-1,050 words, and include the following information:
?A detailed description of the product, including its features, attributes, and associated benefits
?Identification of the current stage of the product life cycle
?Applicable service aspects of the product such as warranty, installation, etc.
?Any relevant regulations regarding the product
?If you are developing a new product, include a proposed testing regime for the prototype phase
Product Pricing Strategy:
The Pricing Strategy is the fourth part of your project and should be 700-1,050 words. Include the following sections in your Pricing Strategy:
?A discussion of the company's general philosophy on pricing and the role pricing plays within the organization.
?An assessment of the various pricing strategies considered for your product. (I WILL
?The pricing strategy selected, and the rationale behind why it was chosen.
The Distribution Strategy
This is the fifth component of your project and should be 700-1,050 words. The Distribution Strategy should include the following information:
?An assessment of the multiple distribution channel options available for your product.
?The distribution channel(s) you selected.
?For new products or markets, explain why the channels were selected.
?For established products or markets, make recommendations for enhancement to the distribution channels and explain why the channels were changed/not changed.
The Market Analysis
The goal of the Market Analysis is to explore the financial considerations of your project, identify any potential profitability concerns and provide management with reassurance of the project's financial success. Be sure to include the following in your Market Analysis:
?An evaluation of the fundamental economics of your proposal - including market demand, market potential, available market and market share objectives.
?An assessment of the financial feasibility of the proposal - including the required initial investment and available sources of capital.
?A projection of product profitability and returns based on two or more marketplace scenarios (i.e., "best case/worst case" scenarios and corresponding assumptions). Include the projected payback period and breakeven points for each scenario.
LINKS TO INFORMATION:
National Association of Broadcasters:
Strengths: The television membership program has strong grassroots action. It provides a degree of unified voice to its members and represents their interests in suits, lawmaking and the FCC. It also makes efforts to market the products of its members.
In addition, it provides information relating to public service, legislative matters and industry research.
NAB has an excellent Management Development Seminar for Television Executives.
NAB provides other attractive training services to its members.
NAB has several trade association types of programs like promotions, insurance programs and publications.
The fees are high public television needs to pay $83 per month and commercial television is based on the number of households that are covered.
Only 36% of are members of NAB this provides NAB with the opportunity to target and capture the remaining 64% of the public broadcasting stations.
NAB also has the opportunity of widening the services that it is offering to its customer base and improving the quality of services that it offers its existing members.
1. The low level of membership of NAB;
2. The increased attractiveness of other trade associations to public broadcasting stations;
3. The wider range of services offered to members by other trade associations.
4. The low membership rate leading to a fall in credibility with the Courts, Congress and FCC.
Any other trade association that can be joined by the TV broadcasters and meets the need of the broadcasting station is a competitor for NAB. For example, The National Cable& Telecommunications Association is perceived by the industry to be the most important association to join.
Similarly, a TV broadcasting station might want to join The Association of Local Television Stations or even the OAB.
This posting gives you an in-depth insight into Product Development