Positioning Paper: Xm Radio

1468 words - 6 pages

1. Product InformationIntroductionSatellite radio is a 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. Fully 4 of 5 listeners subscribe to XM making it the most-listened satellite radio service with over two million paid subscribers in the U.S. today.Features, Advantages, and BenefitsOne of the primary benefits of satellite radio is that if there are one or two channels that an individual enjoys, they can have it anywhere across the country in CD quality sound. In many cases, this alone justifies the cost of equipment and subscription fees. To allow subscribers to turn in from coast to coast, XM employs the two most powerful satellites in the entertainment industry (XMRadio.com), appropriately named "Rock" and "Roll."Subscribers can tune in to a single station in CD-quality sound anywhere in the U.S. XM boasts 68 commercial-free music channels, as well as dedicated sports radio (e.g. ESPN, FOX, NASCAR), talk, news, and entertainment (e.g. CNN, S-SPAN, ABC, CNBC), and offers instant traffic and weather channels in major metropolitan areas - all channels are broadcast in CD quality sound. Listening to XM radio does not necessarily limit you to your vehicle either, computer and home stereo conversion kits are available, as well as portable "boom boxes". Subscribers are charged $9.99 per month, but family discounts and long-term subscriptions lower the price by 10-25%. Satellite radio enjoys a nearly non-existent learning curve as individuals treat the product as they would any standard car radio.2. Product PositioningCurrent StrategyXM Satellite Radio positions itself as the best choice for coast-to-coast CD-quality sound through superior listening choices, competitive pricing, and readily available equipment.Introduced in October, 1998, XM (NasdaqNM: XMSR) radio topped one million subscribers last fall, just five years after its introduction. Somewhat shockingly, just 8 months later, the subscriber base has doubled and has no sign of slowing down its rapid growth. XM's strategy is to initially target successful, urban professionals which is clearly demonstrated by a popular television advertisement uses popular imagery to deliver a pioneering message, which touts the addictive and high-tech nature of the product. In order to maximize its market share, XM leverages partnerships with leaders in the automotive, retail, consumer electronics, and media industries to place the hardware in the hands of consumers. Once the consumer has the hardware, XM takes on a direct marketing approach of customer relations and communicating directly with them through its website.To demonstrate the capability to adapt to consumer's changing listening preferences, XM President and CEO, Hugh Panero says, "After nearly a year of delivering America's first nationwide digital satellite radio service, we've learned a lot about our listener's tastes and preferences. Based...

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