Marketing Plan: Phase I

Essay by lilstacks23College, UndergraduateA, September 2007

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Marketing Plan � PAGE \* MERGEFORMAT �2�

Marketing Plan: Phase 1

Zulema Buckner, James Lee, Arika Mobley

Leslie Stacks, Michelle Walker

MKT 421

University of Phoenix

Ken LeCour

August 15, 2007

Marketing Plan: Phase 1

Satellite radio is the new emerging industry with just a pair of competitors, and XM Satellite Radio has established itself as the 800 pound gorilla of this fledging market. Nearly 4 out of 5 satellite radio listeners subscribe to XM Radio making it the most listened to satellite radio service with over two million subscribers in the U.S. today (Satellite Radio, 2007). With the addition of the new Replay Radio service, XM Radio hopes to bring consumers an even more enjoyable experience as well as continue their success.

In order to segment the market, XM Radio must consider the demographic of people to target. Currently, XM Radio caters to all age groups and demographics. The only criteria are that the consumer enjoy music and is able to afford the equipment and service.

Initially, XM Radio's strategy is to target urban professionals who are interested in advanced new technology. A series of television advertisements aimed at showing the addictive and high tech nature of the problem will be used to attract technology buffs to the new product. After the initial sales period, depending on how sales go, XM will begin to target automobile manufacturers and the general population. XM hopes to get the new product into retail stores such as Best Buy, Radio Shack, and Circuit City. By introducing products in these common stores, it can be exposed to the general public in at an affordable price.

Replay Radio marketing team spent a great deal of time considering what type of person will purchase our product and his or her buying behavior. Good marketing strategies are...