JFfm Jessica Greschner
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Transcript of JFfm Jessica Greschner
Managing the Demands of Two Segments COMM 365, Sec:on 102
Ideen Toudeh Fallah 18651117
Jessica Greschner 2772107 Shayla Hardy 41418104
Chenessa Mok 25285107 Narissara Su 52817103
MARKETING RESEARCH PROJECT
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
About JRfm Owned by the Jim PaUson Broadcast group
Only FM country radio sta:on in Vancouver
Music, contests, updates on latest news and trends
Community involvement (FunFinder, Ci:zenship Ini:a:ves)
Maintains a strong presence in social media
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
Understanding the Industry
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0.60
0.80
1.00
1.20
1.40
2008 2009 2010 2011 2012
Revenu
e (billions)
Revenue of Commercial Radio in Canada
476 501 516 535 546
0
100
200
300
400
500
600
2008 2009 2010 2011 2012
# of Rad
io StaHo
ns
# Radio StaHons in Canada
67%
31%
0% 0% 2%
2012 Commercial Radio Revenue Sources
Local Time Sales Na:onal Time Sales Syndica:on
Government Grants Adver:ngs & Events
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
Understanding the Industry
GENERAL USAGE
• In 2011, the average person listened to the radio for app. 11 hours per week
• Music accounts for 5.5 hours, News, weather, informa:on, sports, commercials, etc. account for the other 5.5 hours per week.
COMPETITION
• Direct: Other FM radio sta:ons in Vancouver
• Indirect: Satellite radio, mobile apps, MP3s, and websites
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
JRfm Listeners Exp l o r a to r y Re sea r ch
49% Have a household income of $75K+ 31% Have a household income of $100K+ 49% Have a university / college degree 50% Are married 58% Own their home 29% Have children living at home 67% Dine out at restaurants monthly 61% Order take out food monthly 52% Drink 1+ cups of coffee daily 48% Drive import vehicles 40% Drive domes:c vehicles 53% Do not read a daily newspaper 50% Listen to JRfm 7-‐28 hours per week -‐
20,000
40,000
60,000
80,000
100,000
12 to 17 18 to 24 25 to 34 35 to 44 45 to 54 54 to 64 65+
Age of Listeners
JRfm Weekly Listenership – Total 433,052
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
JRfm Listeners Exp l o r a to r y Re sea r ch
ADULTS 18 -‐ 34 ADULTS 25 -‐ 54
Monday -‐ Friday 6:00am – 10:00 am 127,891 264,253
Monday -‐ Friday 10:00am – 3:00pm 205,869 416,920
Monday -‐ Friday 3:00pm – 7:00pm 240,448 387,742
Monday -‐ Friday 7:00pm – 12:00am 178,401 234,552
Weekends (aggregated) 207,120 401,320 * Insight provided by JRfm
The 25-‐54 segment listens MORE than the 18-‐34 segment
The 18-‐34 segment listens the most from 3:00pm-‐7:00pm
The 25-‐54 segment listens
most from 10:00am-‐3:00pm
KEY TAKEAWAYS:
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
The Rebranding of JRfm Exp l o r a to r y Re sea r ch
“OLD COUNTRY” “NEW COUNTRY”
Tim McGraw, Alan Jackson, Brad Paisley, Garth Brooks and Reba Mcen:re
Carrie Underwood, Taylor Swij, Zac Brown Band, Luke Bryan and Jason Aldean
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
While JRfm was playing more “new country”, older consumers were s:ll reques:ng “old country”…
THE DILEMMA
Play more “new country”
(Poten'ally) Lose older segments
Play more “old country”
(Poten'ally) Lose younger segments
JRfm is struggling to balance the requests for both “new country” and “old country” given their new posi:oning.
The Rebranding of JRfm Exp l o r a to r y Re sea r ch
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
Defining ObjecHves Resea r ch P rob l em & Re sea r ch Que s:on
RESEAR
CH PRO
BLEM
How to both grow and maintain JRfm’s two dominant segments; how can JRfm best accommodate the listeners who demand “new country” and those who demand “old country”.
RESEAR
CH QUESTION
Would establishing a new, partner FM radio sta:on be successful in strengthening both segments of young and old listeners, therefore proving to be a profitable and wise endeavor for JRfm?
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
HYPOTHESIS: If JRfm creates a sister sta:on that caters to the segments preferring “old country” they will be able to grow and maintain both the “new country” listeners, and the “old country” listeners.
Research Design Des c r i p:ve S t udy , S u r vey , & Que s:ons
DESCRIPTIVE RESEARCH
Gain insight on listener preferences
Bever understand aUtudes towards new and old country
SURVEY QUESTIONS
Paired Comparisons
Constant Sum Scales
Likert Scales
Customer Survey
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
Research Method Des c r i p:ve S t udy , S u r vey , & Que s:ons
Secondary Research…
Primary Research… • Survey Type: Self Administered Ques:onnaires
and Mall Intercepted • Advantages & Disadvantages?
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
Sampling Method Popu l a:on , Co l l e c:on , Me thod
PopulaHon of Interest • Individuals who have listened to JRfm before • People who listen to country music
Data CollecHon Method • Survey • Intercepted at two JRfm concerts & self-‐administered
Sampling Method • Non-‐probability with purposeful randomness • Time & resource constraints avributed to small sample size
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
Sampling Method Samp l e S i z e
SAMPLE SIZE: 62
Under 19 20 – 24 25 -‐ 49 Over 50
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
Sampling Method Samp l e S i z e
SAMPLE SIZE: 62
Under 19 20 – 24 25 -‐ 49 Over 50
LARGEST MARKET “Old Country” Listeners
TARGET MARKET “New Country” Listeners
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
Data CollecHon How We Ac ce s s ed ou r Popu l a:on
CONCERT #1 (Tim Hicks) • Access to younger demographic
CONCERT #2 (Emmylou Harris & Rodney Crowell) • Access to older demographic
SOCIAL MEDIA (Facebook) • Access to JRfm fans
Survey Sofware: U
BC Qualtrics
Problem | Design | Sampling Procedure | Data CollecHon | Analysis & Recommenda:ons | Follow-‐Up
Analysis
Do you think that a new “old country” specific radio sta:on would be successful in dealing with
JRfm’s dilemma?
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
Analysis Va l i d a:on & Ed i :ng
Surveyed appropriate target audiences
Surveyed relevant popula:on (JRfm listeners)
All ques:ons in the survey were completed
Elimina:on of ques:on that was difficult to answer
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
Analysis Va l i d a:on & Ed i :ng
5%
10%
18% 17%
21%
14% 15%
0%
5%
10%
15%
20%
25%
12 to 17 18 to 24 25 to 34 35 to 44 45 to 54 54 to 64 65+
Breakdown of JRfm Audience by Age
3%
48%
10%
2% 2% 3% 3% 7%
11% 11%
0%
10%
20%
30%
40%
50%
15-‐19 20-‐24 25-‐29 30-‐34 35-‐39 40-‐44 45-‐49 50-‐54 55-‐59 60+
Breakdown of Sample by Age
49% of the Sample was over 25
85% of the Popula:on is over 25
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
Analysis Can They Hea r t he D iffe rence?
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Taylor Swij Carrie Underwood
Lee Brice Hunter Hayes
Brooks & Dunn
Chris Cagel Toby Keith Tim McGraw Garth Brooks
SorHng “New” & “Old” Country ArHsts
Old Country
New Country
“New Country” “Old Country”
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
Analysis What do t hey P r e f e r ?
New Country 29%
Old Country 24%
No Preference 47%
Do You Prefer “New” or “Old” Country?
70% of survey respondents also noted that they like listening to a mix and new and old country!
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
Analysis What do t hey P r e f e r ?
31%
15%
44%
10%
0%
10%
20%
30%
40%
50%
Blake Shelton, Lee Brive, Florida Georgia Line
Gary Allan,Brad Paisley, Brooks & Dunn
A Combina:on of Both Neither
Which StaHon Would You Choose Based on Song Line Up?
“New Country”
“Old Country”
KEY INSIGHT
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
Analysis What do t hey P r e f e r ?
Key Insight: Although the popula:on indicates they like a mix of ”new” and “old” country, it is evident that more young people like “new country”, and more old (er) people like “old country”
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
Cost Benefit Analysis Survey: 59 respondents, 154 total tune-‐in occasions
Avg. Daily Occasions Avg. Daily Listeners Avg. Daily Tune Ins Avg. Monthly Tune Ins
2.6 192,500 500,500 14,014,000
Avg. Daily Occasions Tune-‐In Value Avg. Daily Listener ContribuHon
2.6 $0.04 $0.10
Spot Revenue (JRfm) 2012: $565,501
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
Cost Benefit Analysis L i s t e n e r R e v enue s
25% of listeners preferred “old country”
Avg. Daily Occasions Avg. Daily Customers Avg. Daily Tune Ins Avg. Monthly Tune Ins
2.6 48,125 125,125 3,503,500
Tune-‐In Value Avg. Daily Listener ContribuHon (P6+, Full Week)
Avg. Annual Listener ContribuHon
-‐$0.07 -‐$0.18 -‐$65.47
JRfm opera:ng cost (2012): $245,050
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
Cost Benefit Analysis
Tune-‐In Value Avg. Daily Listener ContribuHon
Avg. Annual Listener ContribuHon
$0.04 $0.10 $37.77 -‐$0.07 -‐$0.18 -‐$65.47
Limited promise in growth
Considered other sources of revenue
Total loss of -‐$103,674 for new sta:on based on expected listener count
Cost per listener is much higher than contribu:on per listener
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
RecommendaHons Conc l u s i on
CONCLUSION
• Making a separate radio sta:on that played only old country would be a bad idea! Why? • Listeners prefer a mix of “new country” and “old country”
• The costs are greater than the gains
RECOMMENDATION
• JRfm needs to play and endorse a mix of “new country” and “old country” to best suit their listeners preferences
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
RecommendaHons Conc l u s i on
Open up a new sta:on just for “old country”
Instead, maybe introduce “Saddleback Hour” • An hour of just “old” country music played when most “old”
country listeners tune-‐in • This will reaffirm the presence of “old country” in the newly
rebranded JRfm
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
RecommendaHons Conc l u s i on
Therefore since JRfm listeners want both “new” and “old” we recommend “Saddleback Hour”, an hour of “old” country music to be played between 10:00am and 3:00pm when more people who
prefer “old” country music tune-‐in
Those Under 24: • Most popular tune-‐in :me:
5:00am to 10:00am
Those Over 35: • Most popular tune-‐in :me:
10:00am to 3:00pm
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up
Plan for Follow-‐Up Now t h a t R e s e a r c h i s D one…
PRESENT
• Present our recommenda:on of not opening up a new sta:on
MONITOR
• Suggest con:nuous monitoring of the preferences of different segments
MORE RESEARCH
• Suggest that a similar survey is conducted again in 2 years
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & Recommenda:ons | Follow-‐Up
THANKS FOR LISTENING!
Any Ques:ons?
Problem | Design | Sampling Procedure | Data Collec:on | Analysis & RecommendaHons | Follow-‐Up