Elliott Slater Week 5 Assignment 2
Case Study
Fashion Channel
Assignment 2
Elliott Slater
Jack Welch Management Institute
Mark Robinson, Ph.D.
JWI 518
11/9/2014
Introduction
The Fashion Channel was a successful cable TV network, and the only network dedicated solely to fashion. This channel included entertaining up-to-date features and information broadcast 24 hours per day, 7 days per week. The Fashion Channel was founded in 1996 by two entrepreneurs. This channel experienced constant revenue and profit growth above the industry average in the beginning, but in 2006, the network realized that other networks were taking note of its success and started to add fashion-related programming to their lineups. This prompted the founder and CEO of the Fashion Channel to rethink his approach to marketing, and he decided to hire on an experienced marketer by the name of Dana Wheeler to develop marketing and brand-building programs to support the Fashion Channel’s growth.
What are the new goals of the Fashion Channel (FC) as a result of the changes in its viewership?
Dana Wheeler came to the conclusion that the company needed to strengthen its competitive position, and attract a critical mass of viewers who were interested in the network’s content. Wheeler decided that this would be possible if the Fashion Channel began targeting the right viewers and offering advertisers an attractive mix of viewers. Wheeler’s plan was to build a strategy for segmentation, and use it as a base to employ all of the marketing tools (traditional and internet advertising, public relations, and promotions). The new goals of the Fashion Channel (FC) as a result of the changes in its viewership included driving revenue growth, increasing viewership (ratings), and increasing advertising pricing. Another goal was to improve consumer interest, awareness, and perceived value. The management team’s ultimate goals for The Fashion Channel was to increase their share of the market (ratings) in comparison to the increasingly
Fashion Channel
Assignment 2
Elliott Slater
Jack Welch Management Institute
Mark Robinson, Ph.D.
JWI 518
11/9/2014
Introduction
The Fashion Channel was a successful cable TV network, and the only network dedicated solely to fashion. This channel included entertaining up-to-date features and information broadcast 24 hours per day, 7 days per week. The Fashion Channel was founded in 1996 by two entrepreneurs. This channel experienced constant revenue and profit growth above the industry average in the beginning, but in 2006, the network realized that other networks were taking note of its success and started to add fashion-related programming to their lineups. This prompted the founder and CEO of the Fashion Channel to rethink his approach to marketing, and he decided to hire on an experienced marketer by the name of Dana Wheeler to develop marketing and brand-building programs to support the Fashion Channel’s growth.
What are the new goals of the Fashion Channel (FC) as a result of the changes in its viewership?
Dana Wheeler came to the conclusion that the company needed to strengthen its competitive position, and attract a critical mass of viewers who were interested in the network’s content. Wheeler decided that this would be possible if the Fashion Channel began targeting the right viewers and offering advertisers an attractive mix of viewers. Wheeler’s plan was to build a strategy for segmentation, and use it as a base to employ all of the marketing tools (traditional and internet advertising, public relations, and promotions). The new goals of the Fashion Channel (FC) as a result of the changes in its viewership included driving revenue growth, increasing viewership (ratings), and increasing advertising pricing. Another goal was to improve consumer interest, awareness, and perceived value. The management team’s ultimate goals for The Fashion Channel was to increase their share of the market (ratings) in comparison to the increasingly