The Fashion Channel is a program dedicated to fashion 24 hours a day for 7 days a week. TFC must create a new segmentation strategy, analysis of the competition, positioning and approach a new marketing strategy. One of the main goals of the company is to increase the average ratings in comparison with other programming channels such as CNN and Lifetime. TFC’s rating was 1.0 per 1.1 million households, while CNN’s average rate was 4.0 per 4.4 million households and 3.0 per 3.3 million households for Lifetime. Another way to increase the revenue of the company is to increase the advertising price.
TFC is not a good position in terms of consumer demographics. CNN and Lifetime have a better percentage of the male (45%) and female (43%) audience. Current main viewers of TFC are 35-54 years old females and the wanted target are females 18-34 years old. I believe that the percentages of awareness affect directly companies’ revenue. There are four unique groups of viewers Fashionistas, Planners & Shoppers, Situationlists and Basics. TFC received a rating of 3.8 for consumer interest of viewing, 3.7 perceived value and 4.1 awareness. CNN and Lifetime has a higher percentage in all the categories.
SWOT Analyses
Strengths:
o TFC dedicated to fashion 24 hours every day per week o Appealing to females 35-54 years old o Unique market
Weaknesses:
o Company grew without a detailed marketing strategy o No diversity of programming o Customer satisfaction decreasing
Opportunities:
o Fashion channels have room for viewership increment. o Advertisement can bring higher ratings
Threats:
o Competition channels such as CNN and Lifetime o Customer Satisfaction can put the company in