Current strategy of SKY TV
Describe about one of the famous Media channel (TV channel) SKY TV?
In this report there is a discussion about one of the famous Media channel (TV channel) SKY TV. SKY TV is involved in broadcasting more than 500 channels with the help of satellite. This report is having analysis of current strategy of SKY TV and its impact on organization success as well as their future working. There is a brief discussion about the current strategy adopted by organization with its future scope. SKY TV is a huge broadcasting channel organization so the strategies adopted by them will affect their business environment in both negative and positive (Adetunji, Md Nordin & Md Noor, 2011). A strategy of SKY TV also determines their future profit and their future business environment. SKY media is a vast channel broadcasting company so to make aware their customers they need a proper marketing as well as advertising strategy which is discussed in this report. SKY media more than 1100 channels are broadcasted with the help of digital satellite. The most demanded channel of SKY media are as SKY, Pay TV, My SKY, I SKY and etc.
Different strategies adopted by SKY TV are as –
SKY TV adopted marketing strategy to establish the strong position in digital market. SKY TV has adopted a new marketing strategy i.e. they have started marketing their services with the help of digital or electronic technology (Altstiel & Grow, 2006). Different marketing strategies adopted by SKY are
- Advertising with the help of posters, television, radio, magazines, newspapers and internet. SKY media is currently focusing on the new marketing strategy, that is mobile oriented marketing by which SKY media directly advertise their channels among their customers. SKY media introduced the mobile payment method which made their customers easy regarding all media or channel payments.
Marketing strategy of SKY TV helps in increasing their sales and achieves a competitive advantage in digital field (Argyris, 2012). Sales strategy helps SKY TV know their target customers requirement and needs with the help of which organization can work. It focuses on the sales force of SKY TV.
Figure1: Marketing strategy process of SKY TV
Figure 1 show the process which SKY TV undergo to decide their marketing strategy (Adetunji, Md Nordin & Md Noor, 2011). Marketing strategy is helpful in knowing the target area of every individual channel broadcasted by the company and figure 2 shows the sales strategy process of SKY TV.
Figure 2: Sales Strategy of SKY TV
Pricing strategy helps SKY TV to know the capability of their customers for subscribing their channels. Different pricing strategy adopted by SKY is
- Penetration pricing is done when SKY tries to capture market share by penetrating the new market with a low price in comparison of their competitors (Davidson & Simonetto, 2005).
- SKY uses Premium pricing strategy to set higher price than their competitors present in market.
- Economy pricing strategy is adopted in market where customers’ willing to pay for broadcasting service is low (Altstiel & Grow, 2006).
The prices set by SKY TV are finalized by taking into consideration their customers.
Advertisement strategy of SKY TV helps them to reach their customers easily i.e. with the help of their advertisement process customers are always updated with the services and product provided by the SKY TV (Gelder & Woodcock, 2003).
Promotional strategy helps SKY TV to advertise their services. Mainly SKY uses social media, customer appreciation event strategy and etc for promoting their service and product (Davidson & Simonetto, 2005). For example, SKY TV launches new channel in their broadcasting list so to make their customers aware of new channel promotional and advertising strategy will be used.
Marketing and Sales Strategy
The strategic model adopted by SKY is as –
Before planning any strategic SKY organisation has to gather all the information regarding the process (Hill, 2013). Suppose SKY has to launch new channel in new city so before finalizing the strategies required for new channel marketing, promotion, advertising SKY should collect all the related information of market and customers (Gelder & Woodcock, 2003).
The analysis of strategic process helps in evaluating the strategic process of SKY organization. SKY organisation has adopted different strategies like marketing strategy, promotional strategy, advertising strategy and etc so to finalize their strategic process evaluation of strategic process is done (Kumar & Phrommathed, 2005).
After analyzing the strategic process SKY will try to develop the main model of process i.e. the evaluation and analysis of strategic model is done on rough model (Kumar & Phrommathed, 2005). The development of strategic model is done on the basis of analysis and evaluation report.
Implementation of strategic process of SKY Organisation will be done after analyzing, evaluating and developing the model (Podolyakina & Popova, 2014). The execution of strategic model of SKY is different from other organization.
In this step the evaluation and analysis of newly implemented strategic process is done. Suppose SKY is having a marketing process which is not supported in new market where they launched channel, the changes or improvement in the process will be done after analyzing complete process.
Establishing the process is done after complete analysis and evaluation of strategic model of SKY (Smith, 2012). Strategic model in SKY will be launched once all the implementation and evaluation is done.
The impact of current strategies adopted by SKY on their operation is –
- They help in large scale advertising campaign of their services and products.
- Current strategy helps in retention strategy of the company.
- SKY current strategies help in identifying their target customers which makes them easy for marketing and sales (Podolyakina & Popova, 2014).
- SKY Multi screen strategy helps in increasing their service subscribers, multi screen strategy helps in providing more services to their existing customers.
- Large scale advertising campaign strategy of SKY helps customers to know about their different services and products (Stone, 2010).
- SKY marketing strategy help in knowing their public relations, details about their sponsors, targeted customers.
SKY different strategies help in increasing the number of customers. Main focus of SKY is to provide their customers digital product and services as per their requirement. Organizational strategy also helps in encouraging their customers (Tang, Wang & Huang, 2013). These strategies help in evaluating the competitors’ business process and the strategies adopted by them. SKY strategies help in developing. Analysis is done to evaluate the strength, weakness, opportunities and threats of their strategy. Strength and threats are done internally, weakness and opportunities are done in comparison of their competitors present in digital market (Treverton & Ghez, 2012). It is done in relation to SKY internal factors for example innovation level of SKY, productivity of workforce, performance level of employees and etc. Weakness of SKY analyzes the cause of their lacking in comparison to competitors on basis of geography, economy, profit rate of SKY and etc. Opportunity analysis is done to evaluate the region where SKY can expand its market. It is external analysis (Tang, Wang & Huang, 2013). While expanding their broadcasting business main factor considered is economy of the company. Threats are done in relation to their other competitors for example I TV, channel 4/5 and others. Threats can be in context to technologies, innovation, methods of working.
Conclusion
SKY is a media company located in United Kingdom with more than 1500 of workforce. SKY mainly uses radio, TV, newspaper, magazines for advertising their services and products. The pricing strategy of SKY is based on demographical, economy and other factors. Pricing strategy used by SKY are penetration pricing, economic pricing and penetration pricing (Treverton & Ghez, 2012). SKY TV is top rated channel broadcasting organisation that has employed more than 1500 employees who are engaged in providing customers good quality service. The strategies used by SKY are very helpful in increasing the profit share and gathering customers. The strategies currently used by company should be improved by taking into consideration their economy and after comparing with their competitors (Warner, 2010). Current strategies used by SKY help in gathering more number of customers, stakeholders. SKY uses pricing, advertising, marketing and sales strategy after evaluating their competitor’s strategy and presently these strategies are helping company in a positive manner (Zanoni, 2012). SKY in future should change their strategy after evaluating the requirement of market and their target customers. Strategic analysis of SKY helps them in penetrating and gathering more number of new markets as well as customers.
References
Adetunji, R., Md Nordin, D., & Md Noor, S. (2011). Integrated Advertisement Message Strategy: A Tactical Implementation of Imc in Advertisement Discourse. IJAR, 3(10), 1-3. doi:10.15373/2249555x/oct2013/65
Altstiel, T., & Grow, J. (2006). Advertising strategy. Thousand Oaks (Calif.): Sage Publications.
Argyris, C. (2012). Organizational traps. Oxford: Oxford University Press.
Davidson, A., & Simonetto, M. (2005). Pricing strategy and execution: an overlooked way to increase revenues and profits. Strategy & Leadership, 33(6), 25-33. doi:10.1108/10878570510631639
Gelder, D., & Woodcock, P. (2003). Marketing and promotional strategy. Cheltenham: Nelson Thornes.
Hill, P. (2013). Pricing for Profit. Kogan Page.
Kumar, S., & Phrommathed, P. (2005). New product development. New York: Springer Science+Business Media.
Podolyakina, N., & Popova, Y. (2014). Development of Product Promotional Strategy Considering the Risk of Non-demand. Procedia – Social And Behavioral Sciences, 110, 805-811. doi:10.1016/j.sbspro.2013.12.925
Smith, T. (2012). Pricing strategy. Mason, Oh: South-Western Cengage Learning.
Stone, N. (2010). A model of best practice. Strategic HR Review, 9(5). doi:10.1108/shr.2010.37209eae.002
Tang, Y., Wang, Y., & Huang, J. (2013). Optimal promotional strategy for intra-category cross-selling.British Food Journal, 116(1), 80-90. doi:10.1108/bfj-12-2011-0306
Treverton, G., & Ghez, J. (2012). Making strategic analysis matter. Santa Monica, CA: RAND.
Warner, A. (2010). Strategic analysis and choice. New York: Business Expert Press.
Zanoni, A. (2012). Strategic analysis. New York: Routledge.
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