RADIO:THE NEW MARKETING VENTURE
PRESENTED BY: SANDEEP SINGH ANUJ SHARMA MOHD. ZIA QUREHI HARSH VARDHAN KOUSHIK KUMAR
INTRODUCTION
Radio in todays world is one of the most effective, affordable, reachable, and perhaps the most portable medium of entertainment and information media. Radio has reigned the media in past times but has it the ability to get back its dominance??? Radio has versatile applications and approaches that we would see through the presentation.
ADVANTAGES
Reach Portability Affordability Versatility Adaptability Customizability Interactive Unexplored
WHY RADIO?
Radio receivers are cheap hence affordable by lower segment. Radio reception is free of cost. Radio is smaller hence portable. Radio programs are cheap to produce and broadcast. Hence radio is used in all the states in almost all local dialects hence Adaptable and Versatile.
WHY RADIO?
Radio are customizable which means that it can be customized to the listeners need. Radio can be a highly interactive medium as shown time and again by various channels. Radio is still unexplored territory which means that there still can be a lot of creativity to be put in.
SOCIAL BENIFITS
Radio can be used to monitor traffic and provide alternate paths to general public in rush hour. To guide public in times of crisis as did by RJ Tarana of Radio One 94.3 fm and other radio jockeys in times of Mumbai floods to give aids, and convey messages across public and individuals. Campus radio stations can be used to make announcements and provide information over a college or office campus.
SOCIAL BENIFITS
Hospital radios are utilized specifically for the inpatients of a hospital. Radios can be used to broadcast national emergency messages by government due to its high range.
STATISTICS
This year(2010) Radio is expected to grow 20% and reach 817 crores. The advertisement revenue to radio is 630 crore. There are 700 stations under 500 cities. 27% of radio listenership is through mobile phone. Spender graph Tv vs radio graphs.
FM POLICY IN INDIA
Phase 1 May 2000, Govt auctions 108 frequencies across 40 cities Govt Receives 37 channel payments out of which 22 became operational and 1 closes. Phase 2 July 2005, Govt auctions 337 channels across 90 cities Govt Receives 284 successful bids, 248 were given permission across 87 cities.
FM POLICY IN INDIA
Phase 3 2010 Under the 10th 5-year plan, TRAI hopes to enhance radio coverage from 40% to 75% of the population of India which is to be accounted under working group report of 11th 5-year plan. The radio industry pays a standard of `600 per needle hour which is standard across geographies.
CASE STUDIES
Some of the most innovative and interesting ways that the radio has been used is as follows [Link] Launched a campaign in which the RJs created official ibibo accounts and updated profiles so that users could stay in touch with them by playing games and share details. Blackberry launched a campaign in which RJs would talk about there experiences with users, also running contests for the listners to win a blackberry.
CASE STUDIES
Airtel Airtel launched a campaign on friendship week called special 5 along with Red FM where 5 celebrities share their special moments with friends and describing the value of friendship in their lives. Vodafone started a campaign my network journey and focused on advertising its launched coverage in Madhya Pradesh, Chhattisgarh region.
CASE STUDIES
ICICI Lombard started a campaign poore parivaar ki suraksha which devised a concept involving puzzle which involved all members of a family. the puzzle focused on family integration by providing a situation to family members and asking for a solution. all puzzles were designed so that whole family would play a part in it.
CASE STUDIES
IDEA Cellular launched a campaign Save Paper where a RJ would encourage listeners to use mobile in order to save paper in day-to-day activities. they would read out stock updates, sports updates, movie reviews and city events through their mobile newspaper.
CASE STUDIES
Piramal started a campaign Help Your Body in which various medical colleges were invited in a competition involving recommendation for changes in lifestyle of people to minimize stress with best proposition judged and selected by a jury. final project was selected and granted a large scale funds for implementation and execution.
CASE STUDIES
DABUR Dabur hajmola launched a campaign in 46 cities across india in partnership with Red fm, Radio Mirchi and Big fm called kahan mara chatkara! General public was asked about their most favorite local joints in their locality and 2 were short listed with RJ and caller visiting them to enjoy food there.
CASE STUDIES
Mc Donalds Mc Donalds Launched a campaign with Red fm called breakfast with malishka in which listners had to sms their past bill numbers to win a free breakfast from Mc Donalds at Red FMs studios along with the RJ. The activity was very successful in drawing participants and won prominent industry awards.
CHALLANGES
Command only 3% of 21000 crore advertisement share. Lazy marketing and media planning. Still highly unexplored territory. Profitability is low for 41 of 42 private players with the exception of radio mirchi. The OTEF (one time entry fee) has a huge burden on profitability as its amortization brings down the PAT (profit after tax) to negative levels.
CHALLANGES
Most radio brands are unable to escalate profit growth and hence are not investing in brand and category building.
CONCLUSION
Radio is the media with highest reach and excellent prospects and potential but remains untapped and unexplored due to lack of fresh advertisements by creative agencies. If explored and manipulated in a creative manner then radio has potential to become a beyond excellent prospect for maketing ventures.
