I have a coursework,and i was asked to write,the KEY FACTORS OF SUCCES,in a industry,which in case it happens to be the television industry.I need to write what we as the customers want from the tv,then we need to find out how the company can achieve the same,and finally we need to compare the channels and see who has got the competitive advantages...please replay me if you know anything about this subject
Certainly! Let's break down the task into three parts: identifying what customers want from TV, determining how companies can achieve those desires, and comparing channels to identify competitive advantages.
1. What customers want from TV:
To identify what customers want from TV, you need to consider their preferences and expectations. Here are some factors that customers typically value in the television industry:
a. Content: Customers want a variety of high-quality and engaging programming, including TV shows, movies, documentaries, sports events, news, and more.
b. Viewing experience: Customers desire a seamless and user-friendly viewing experience. This includes easy navigation, fast channel switching, picture and sound quality, and accessibility across multiple devices.
c. Personalization: Customers prefer content recommendations and personalized features that match their individual preferences and interests.
d. Convenience: Customers seek flexibility in terms of accessing TV content on-demand, through streaming services, or via DVR systems, which allow them to watch programs at their convenience.
e. Pricing: Customers want competitive pricing packages with options that provide value for money while aligning with their desired content offerings.
2. How companies can achieve customer desires:
Next, consider how companies in the television industry can meet customer desires. Here are some key strategies they can employ:
a. Content creation: Companies should invest in producing or acquiring a diverse range of high-quality content to cater to different customer preferences.
b. Technological advancements: Companies can enhance the user experience by adopting advanced technologies such as seamless navigation systems, superior picture and sound quality, and innovative features like voice control or interactive interfaces.
c. Data-driven personalization: Companies can utilize customer data to understand their preferences and deliver personalized recommendations, content suggestions, and tailored viewing experiences.
d. Platform accessibility: Companies should provide access to their content through various platforms, including smart TVs, digital streaming services, mobile apps, and web browsers.
e. Competitive pricing: Companies can offer pricing plans that provide flexibility and value for money. Bundling options, customizable packages, and special promotions can help cater to diverse customer segments.
3. Comparing channels and identifying competitive advantages:
To compare channels and identify competitive advantages, consider the following factors:
a. Content differentiation: Analyze the unique content each channel offers in terms of genres, originality, exclusivity, and audience targeting.
b. Viewing experience: Evaluate the user interface, ease of use, availability of features like personalization or recommendation algorithms, and overall customer satisfaction.
c. Technological innovations: Assess each channel's utilization of emerging technologies, such as 4K resolution, virtual reality, interactive elements, or augmented reality, which could enhance the viewing experience.
d. Customer engagement: Look at how channels engage with their viewers through social media integration, interactive live events, exclusive subscriber perks, or community engagement.
e. Advertising and monetization: Evaluate the effectiveness of each channel's advertising strategies, sponsorship deals, partnerships, and revenue models, as these can impact the financial stability and growth opportunities.
By considering these factors, you can analyze and compare different channels in the television industry to identify their competitive advantages and determine which ones are more successful.
Remember, for academic work, it's important to conduct thorough research, consult relevant sources, cite your references, and present a well-structured and supported analysis.