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Marketing Plan: Final Paper

2354 words - 9 pages

Final PAGE 1
Marketing Plan: Final PaperZulema Buckner, James Lee, Arika MobleyLeslie Stacks, Michelle WalkerMKT 421Ken LeCourAugust 30, 2007Marketing Plan: Final PaperSatellite Radio is the newest way for people to tune in to their favorite songs. With the music coming direct from the satellite to the receiver, there have been a multitude of advantages over regular AM/FM radio. XM has been a satellite radio provider since 1992. XM offers listeners continuous, commercial free music of their choice from 170 digital channels. The sound is crystal clear and listeners also have the choice of listening to live news, sports, traffic, weather, and talk programs (XM, 2007).Satellite radio is the first big innovation in radio since the popularity of FM radio in the 1970's. XM Satellite Radio was incorporated in 1992. On October 5, 1999 XM Radio stock was being publicly traded on the NASDAQ exchange. Currently XM radio receivers are being manufactured through some of the biggest names in electronics including Delphi, Panasonic, and Yamaha. The receivers can be found at Best Buy, Wal-Mart, Circuit City, and other independent dealers. The company has also connected Toyota, Honda, GM, and many other car companies to offer their product in over 140 models of cars (XM, 2007).XM Replay Radio will promote through various mediums. Television, point of purchase and magazines is where XM will do most of their promoting. Television advertisement will be on USA, ESPN, SPIKE TV, and LIFETIME. XM will also focus on News television such as CNN and MSNBC. XM will advertise Replay Radio on major networks during the daytime hours. To effectively reach the target market, XM will focus on specific times and specific shows.Point of purchase advertisements will have demos that take place in highly XM promoted areas of the retail store. XM Radio will provide training for the product to the retail salesperson in each store. They will be thoroughly trained to provide confidence and knowledge of our product. Magazines advertisement will be located in Sports Illustrated, Playboy, Army Times, Newsweek, and other related magazines.August is the most powerful time for the XM Radio to come out with and promote this new product. The National Football League (NFL) and the NCAA football seasons are beginning. During football season, many people have to rely on radio to keep up with their favorite team. The sports fans are going to go wild with the new XM Satellite Replay Radio. XM's goal is to make Replay Radio a must have item. The sports fan will never miss another play. XM also intends to focus on teenagers going back to school and being able to catch all the latest hits, not to mention the oldies but goodies for adults. XM Satellite Replay Radio will revolutionize the way people listen to the radio. The ads will hit nation wide television through cable network, as well as magazines nation wide, also the company will recruit pro basketball, football, and baseball players to help...

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