All Day All Hits

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INTRODUCTION

Every Organization has a brand, whether they have consciously developed it or not. A brand is simply an expectation or a promise of an experience. Whether that expectation is trusting, authoritative, innovative or fun, brands are short-hand describing the way a business, organization, product, service, celebrity or other entity relates to its stakeholders. According to American Marketing Association (AMA), a brand is a “name, term, sign, symbol or design or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”

Standing out amid a massive chorus of competitors is a challenge for any company in today’s business climate. The number of offers and sales pitches one receives on a daily basis is simply staggering and increasingly ineffective. It’s no wonder, then, why businesses are seeking new and more effective ways of increasing the influence of their brand strategy in the marketplace. A strong brand strategy can increase the awareness of a company and its offerings in such a way that establishes strong feelings and reactions and a favorable view towards the company as a whole. To create this sort of “brand awareness” in your market, it takes skillful Brand Strategy know-how.

Successfully out-branding organizations competitors is a continuous battle for the hearts and minds of their customers. The proposition organizations brand strategy makes must be very compelling, attractive and unique among competitive offerings. The proposition must also be consistently reinforced throughout all phases of an organization, from senior executives to customer service, research and development, business development and even their business partners.

Radio offers reach, frequency, impact and economical advertising solutions for advertisers. Radio advertising rates are low on cost-per-thousand basis as compared to other media Radio forms an excellent complementary medium to television and print. It can extend the reach of a campaign, focus the delivery, and enhance or reinforce a message. Radio speaks to its audience in a highly personal manner. Listeners build a relationship with their local radio personalities - a rich resource into which the community can tap. Unlike television, radio does not require any commissioned original content. Most of the content on radio is live. The biggest content - music requires a royalty which is payable to the relevant societies viz. The prime time for radio listenership differs from prime time television viewing. Radio listenership peaks in the morning, afternoon and late night time slots, while Television viewership reaches its peak during the night slot. One research reveals that almost 70% of younger audiences listen to radio every day. This is the audience most sought by advertisers.

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1.1 Origin of the Report

Dr. Md. Kamal Uddin, Professor, Department of International Business, Faculty of Business Studies, University of Dhaka, assigned the students of MBA 3RD Batch to prepare a formal business report. This report is prepared to comply with that instruction.

1.2 objective of the Report

This report is prepared primarily for the fulfillment of the Course IB-505 “Global Market Analysis and Branding”. The secondary purpose of this report is to have a clear understanding of Radio Today’s operation, its segmentation, targeting, positioning and most importantly their brand strategies and also the SWOT Analysis of the brand. This study concerns itself mainly with the nature and process of the services the company is rendering to ensure customer satisfaction. This report will act as a guideline to facilitate future studies intended in this area.

1.3 Scope of the Study

The study covers the operation, its segmentation, targeting, positioning, brand strategies and also the SWOT Analysis of the brand. The report was prepared on the basis of the information provided by the website of FM Radio sector. As the study concerns with the companies branding prospects, the most important target to fulfill was to relate the activities of the radio with people.

1.4 Limitations

I. Absence of Adequate Primary Sources: A scarcity of primary sources prevailed throughout the period of preparation of this report.

II. Time Constraint III. Unavoidable Circumstances

1.5 Sources of Information

This report was mainly based upon secondary sources. However some secondary sources were consulted for an understanding of research methodology and report writing techniques. Few journals and mainly web pages were also browsed to get preliminary ideas about FM radio sector of the country.

1.6 Methodology

For preparing this paper, we used Secondary Data. Data was collected from the websites of Radio Today, Radio Foorti, Radio Aamar, ABC Radio and Bangladesh Betar.

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INDUSTRY OVERVIEW

2.1 History of Broadcasting in Bangladesh

The history of broadcasting refers, “After Guglilmo Marconi’s discovery of wireless broadcasting in 1901, radio broadcasting was undertaken by amateurs. The first US commercial radio station KDKA of Pittsburgh, began operation in 1920” (Britannica Ready Reference Encyclopedia vol.1, p.84, 2005, India).

The history of radio broadcast in Bangladesh dates back to the then British India and started broadcasting on 16 December 1939 as All India Radio at the old part of present Dhaka, the capital of Bangladesh. In 1971, Former Radio Pakistan changed its role as a front to assist the nation achieving its independence. Radio Bangladesh has been functioning as Bangladesh Betar (Radio) from all stations since the victory of Bangladesh on 16 December 1971. We have twin 16 December in our broadcast history. Bangladesh Betar, only public radio transmission agency, has country wide broadcasting network program with 5 FM channels to add to its operational efficiency.

There is no community radio channel in the country yet, but in 1998, the government made a call for the establishment of an FM radio station. Mass-line Media Centre (MMC), a non-government organization, sought permission to establish a community radio for the southern coastal belt dwellers of the country. There are private FM radio stations in the country having started broadcasting programs in recent years. Radio Today started as the country's first private FM radio station in May 2006 in Dhaka at 89.6 MHz. It later became available in Chittagong & Cox's Bazaar.

2.2 Radio Today

Radio Today is a music radio which plays popular Bangladeshi music with the slogan “All Day All Hits”. Music’s are featured in programs like Today's World Music, Today's Adda Rupali Gaan and Raat Vor Gaan including a Friday-special program, Islami Songs. A news program, News Everyday, airs six times a day giving news updates with Dhakar Chaka giving live traffic updates in between other shows.

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In 1998, the government made a call for the establishment of an FM radio station. Radio Today started as the country's first private FM radio station in May 2006 in Dhaka at 89.6 MHz. It later became available in Chittagong & Cox's Bazaar.

2.3 Major Programs

Good Morning Dhaka

Show Days : Sunday - Wednesday Thursday Friday Saturday

Show Time : 8 am-12 pm 8 am-12 pm 8 am-12 pm 8 am-12 pm

News Everyday

News slot

Shokaler Khabor

Dupurer Khabor

Shondher Khabor

Raater KhaborModdho Raater khobor

Shesh Raater Khobor

Show Days:

EverydayEveryday

Everyday

Everyday Everyday Everyday

Show Time :

8.45 am-9 am

1.45 pm-2 pm

6.45 pm-7 pm

9.45 pm-10 pm11:45 pm-12 am

3.45 am-4 am

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City of license:

Dhaka, Bangladesh

Broadcast area:

 Bangladesh (FM)

Slogan: All Day All Hits

Frequency: 89.6 FM

First air date:

May, 2006

Format: Music Radio

Language: Bengali

Owner: Radio Broadcasting FM (Bangladesh) Co. Ltd.

Website: www.radiotodaybd.fm

All Day All Hits

Today's World Music

RJ : Taeeb

Show Days : Saturday

Show Time : 12 pm - 4 pm

Today’s AddaShow Days : Sunday - Thursday

Show Time : 12 pm - 4 pm

Raat Vor Gaan

RJ : Neerob Neerob

Show Days : Saturday - Wednesday Thursday

Show Time : 10 pm - 1 am 12 pm - 1 am

Rupali Gaan

RJ : Christina

Show Days : Friday

Show Time : 2 pm- 6 pm

Good Morning Ctg

RJ : Sopnil & Mehreen Mehreen

Show Days : Saturday - Thursday Friday

Show Time : 8.00-11.00 am

Raat Bindas

RJ : Neil

Show Days : Saturday - Thursday

Show Time : 11.00-2.00 pm

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2.4 Registered Office

Radio Broadcasting FM (Bangladesh) Co. Ltd

34, Kamal Ataturk Avenue, Awal Centre (13th and 19th Floor)

Banani, Dhaka - 1213, Bangladesh.

2.5 Board of Directors

Haji Md. Mozammel Haque, chairman

Md. Rafiqul Haque, Managing Director

Mrs. Moshfiqua Haque, Director

Md. Mahbub-Ul Haque, Director

Md. Atiqul Haque, Director.

2.6 Present Coverage and Expansion Plan

Though Radio Today started its broadcasting only in Dhaka but it has continued its operation to expand the network in different other parts of the country. It has already broadcasting in Chittagong and Cox’s Bazaar, it has plan to broadening its operation in Sylhet, Khulna, Bogra and Mymensinngh. They are also planning for shopping from radio.

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2.7 Other Companies:

Radio Foorti:7

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Radio Foorti is a Bangladeshi FM radio station. Radio Foorti hit the airwaves on September 22, 2006 in Dhaka at a frequency of 98.4 MHz. It later changed the frequency to 88.0 MHz by September, 2007. It went on air in Chittagong in July, 2007 at 98.4 MHz and in Sylhet on February 1, 2008 at 89.8 MHz. At present Radio Foorti is transmitting at 88.0 MHz. Now Radio Foorti is broadcasting across eight cities & their adjoining areas. Radio Foorti has separate stations in Dhaka, Chittagong, Sylhet, Rajshahi, Khulna, Barisal, and Mymensingh & Cox's Bazaar.

Radio Foorti is basically a music radio station and with the help of its 09 radio jockeys plays a wide variety of music, ranging from golden classics to the latest song released from the top artists in Bangladesh, even mixing the hottest international tracks into the playlist. The main interaction with the station is via text messaging Phone Calls.

Radio Aamar:

Radio Aamar is a 24-hours private FM radio station in Bangladesh. It broadcasts on 88.4FM (Previous Frequency 101.6 FM) in Dhaka. It started its official transmission in 11 December 2007. Its programs include news, Bengali songs, English songs, band songs, weather updates, traffic updates and market prices.Radio Aamar is now one of the most popular FM radio stations in Bangladesh. On October 2008, the frequency of the station was changed to 88.4 FM in Dhaka.

ABC Radio:

ABC Radio is the first news-oriented FM radio station in Bangladesh. ABC radio is part of Media star, from Transcom Group. It is one the sister concern of the Transom Group. The station studio is located at the media area of Karwan Bazaar. The chief of program and news of ABC Radio is M. Sanaullah (former chief news editor of Prothom-alo). The station stays on air for 24 hours at FM 89.2 MHz of frequency from Dhaka station. ABC launched its all out commercial operation on 7 January 2008.

2.8 Identifying Competitors:

a.Market Concept of Competition:

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Competitors are companies that satisfy the same customer need. The Market Concept of

Competition reveals a broader set of actual and potential competitors. It is a mode of profiling a

company’s direct and indirect competitors by mapping the buyer’s steps in obtaining and using

the product.

The station regularly airs

News Bulletins (Prime / Short) Talk show on current affairs, entertainment

Radio documentary

Information Updates (Traffic, Outdoor Event, Stock Market, Bazaar, Weather, Culture, Time Queue and many more)

Live show with RJ’s and cool selection of songs

Weekly, monthly special programs

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Radio Today

ABC Radio

Radio Foorti

Radio Aamar

Bangladesh Betar

Music channels

TV Channels

Internet

Live call

rom studio

Online Radio

SMS ContestProgram

News& English news

Direct

CompetitionIndirect

telecommuncation industry isCompetition

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Talks show with celebrities and listeners

Wide variation of segments

Special programs on special days

b. F.M market In Bangladesh: Industry Life Cycle

As we have shown in the following graph, it is apparent that the FM industry in Bangladesh is entering into its growth stage from the embryonic stage. The statement is justified after analyzing the marketing objective & strategies the companies are setting up to. Listeners of this industry are rapidly increasing.

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Embryonic Growth Mature Decline

FM Radio

Figure: FM Radio Industry Life Cycle

All Day All Hits

BRAND STRATEGY

3.1Steps for Brand Strategy -

What entails a comprehensive and effective “Brand Strategy process”? It varies from industry to industry, but here are some very basic guidelines about what makes a good Brand Strategy.

Brand Strategy is nothing new. Yet, the expectations consumers have for a product or service they buy is stronger than it’s ever been. This is why companies interested in long-term success must create the most promising, targeted brand experience possible.

Whether you know it or not, organization already have a brand, and their customers are having a “brand experience” when they interact with them, whether it be with their products and services or the people in their company. In order to craft this “brand experience” in a calculated way that is beneficial for company, must have a strong understanding about what exactly a brand is.

Brand is the Alpha and Omega: In other words, brand is the totality of a company and its business.

“A brand is the sum of the good, the bad, the ugly and the off-strategy,” says Scott White, one of the nation’s leading branding consultants and a valued expert companies like Sun Life Financial and Franklin Sports rely on. “It is your best and worst product. It is your best and worst employee. It is communicated through award-winning advertising as well as those ads that somehow slipped through the approval cracks and sank anything riding on them. It is your on-hold music and the demeanor of the receptionist who puts that valued client or prospect on hold. It is the carefully crafted comments by a CEO as well as negative buzz by the water cooler or in chat rooms on the Internet. Brand is expressed through written, audio and visual content. It is interpreted through emotional filters every human being has—where anything can happen. Ultimately, you can’t control your brand. You can only hope to guide it.”

The Road to Branding Success: Building on the inherent values of a brand should be the core of any branding strategy. If they’re not clear, organization should get a good grip on them first. Is the brand about honesty or integrity? Quality? How about excellent communication and customer satisfaction?

Knowledge of a company’s values, is typically an internal matter; yet, those values become evident to everyone in contact with the company, from customers and prospective customers to business-to-business relationships and employee relations. Consistency is the key here. If members of the organization aren’t accurately representing the values of the brand, steps must be taken to rectify the gap in the shell. And unlike a brand’s key business proposition, values should

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never change even though the landscape in which the company operates and even its products may.

Winning brand strategies starts with top-notch research: With values set, a brand proposition is ready to be established. Objective and comprehensive branding research are the keys here. At a minimum, both must be done to establish clarity on the brand’s strengths and weaknesses, the target audience and the competition. If possible, branding research should also be done on the brand’s industry, its history, the status of the market and possibilities for future expansion.

Target customer will determine Organizations success: If it’s only possible to do one body of brand research, discover as much as possible about organizations target customer. They should find out who they are and what their needs and desires are. They should make it their mission to get as detailed information as possible on their age, gender, income, shopping habits (online and off) and anything else of relevance they can determine. If organization is targeting a business market, these criteria will differ, depending on the industry. Understanding organizations target market and what they want is key to developing a winning brand. Knowing these things should also give organization an idea for what communication medium and content would work to engage their market.

Other research organization could do is find out what their competitors’ offerings are like. How do their offerings stack up? What can a customer get from their product/service that they can’t get from anyone else? Finding out these things will seeds for a winning branding strategy, not to mention great fodder for an ad campaign.

What does Organization Brand promise? The brand statement, often called the brand promise or proposition, is a derivative of branding research. It states the benefit of buying and using company’s products or services. For clothing, it could be about style or comfort. For a car, it could be about safety or reliability. Whatever it is, it must be clear, engaging and presented in a context relevant to the customer.

Your promise should be golden: If company’s products and service don’t live up to their brand promise, new customers will become lost customers and loyal customers might leave, too. Simply putting, organization deliverable, whatever that is, must follow through on the promise—in fact, it would be best if it actually over-delivered.

Organizations promise should be unexpected, but welcome: Organization should not reuse something a competitor has already promised even if it works for their product or

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service, and they shouldn’t be vague in trying to position their company favorably against their competitors (such as saying you’re “the best pizza in town.”). They should be specific because specific is exponentially more memorable. Besides, people expect organization to be good. Otherwise, they wouldn’t give organization their business.

Hearts and minds first, wallets later: Creating a positive emotional association in any organizations market for their product or service is key. It can create want and desire by the mere mention of their brand, product or service name. Such positive emotional associations are built over time through good branding practice and a time-tested relationship between organization and their customer based on intrigue, trust, understanding and support.

To create a brand promise that creates such emotional connections, it should be:

1. Grounded in the brand’s core values2. Clearly relevant and engaging to organizations target market3. They should be able to create some sort of positive emotional attachment beyond just being “good”4. Repeated internally and externally within organization5. Adaptable to the business climate6. Continually reinforced7. Consistent across advertising and marketing mediums8. Known and echoed by business partners

3.2SEGMENTATION, TARGETING, POSITIONING13

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3.2 1)SEGMENTATION: “Segmentation can be defined as a dividing or classifying the consumer according to their needs and wants it can be according to Geographic reason, Demographic profile, Socio logy or personal factors”

TYPES OF SEGMENTATION:-

A. Geo-graphic segmentation:

Geographic segmentation calls for dividing the market in to different geographic unit such as nation, state, regional, countries, cities or neighborhood. In Bangladesh context geographic segmentation assumes importance due to variations in consumer preference across different regional and district of the country.

Radio today does not use this type of segmentation. They have adopted corporate strategies. They do not broadcast any kind of regional’s song. E.g. in Chittagong they do not play Chittagongian songs.

B. Demo graphic segmentation:

I n demographic segmentation the market is divided into groups on the bases of variable such as age, family, life cycle, gender, income, education, religion. There is several reasons for the popularity of demographic variable to distinguish customer group. One reason is that consumer need, want, and usage rate and the product and the brand preferences are often associated with demographic variable.

Radio today uses this kind of strategies. They are having gender base segmentation, age group base, etc.

In the early morning they are targeting to the old persons because they likes folks, Rabindra Shangeet, Nazrul Geeti and all about the gods songs in the early morning they started this program at 8 am to 12 am. In the morning they are giving news in Shokaler khobor at 8.45am-9am adding the tag line-: “shobar age shorboshesh shongbad” They are also giving the cricket updates, stock market updates etc. Besides they are giving latest news update in every hour, and traffic update through-“Dhakar Chaka”.

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They have PONDS Beauty talk program are specifies target to the female. During the program R.J. give the food recipes, solving women problems, organize kitty parties, and give news about shopping discounts at any shopping stores.

In the Friday afternoon they have Rupali Gaan. This program targeted to all of the film interested peoples because these interested listeners can listen theses songs at holiday with full relaxation. In this program RJ Christina from Dhaka and RJ Chaity from Chittagong gives all of the old affairs of the Dhaliwood and Black& White memories to the people.

In the afternoon and evening listening is very much high and they have shows called U-turn from 4pm-7pm and Tobe tai hok from 7 pm-9.45 pm. In theses program they play hot, new release and the rocking songs. In the program tobe tai hok- the play listeners requested songs which is very popular. As because in the evening times there are lots of traffic cause of officers leaving at that time they are giving traffic updates at every hour.

In the night Rat Vor Gaaan shows. Which is specifically for the young people, because they have free from their work and they like to listen the melodious songs along with some fun and interesting tips. In this program RJ Nirob solved the problems of them and play romantic songs.

In the late night they have Hutum Pecha from 1 am-4 am which is specifically for the teenagers.

C.Behavioral Segmentation: In behavioral segmentation, buyers are divided into groups on the bases of their knowledge of attitude towards use of or response to a product and service. Many marketers believes that behavioral variables occasions, benefits, user rates, user status, loyalty status, buyers readiness stages and attitude are the best starting points for the constructing market segments.

a. Occasion: Occasion can be defined in the terms of the time of the week, month, and year or in the terms of other well defined temporal are aspects of consumer’s life. The entire program they

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design, to meet the occasion. In EID they play beautiful and some rock and roll numbers they also arrange EID concert. They also become media partner for big big event and award function. Besides these they play Islamic song and arrange Islamic program in the event of Shab-e Kadar and Shab-e- Barat and in other Islamic event. They also have celebrity live show in special occasion.

b. Benefits: Radio today people they are playing all the melody as well as new, hot, and the rocking songs. They often play sad or emotional songs. That’s why RADIO TODAY IS “STATION OF THE NATION.”

c. User’s status: Market can be segmented in to non-users, ex-users, potential users, first time users and a regular user of the product. Radio today has a different scheme to convert first user or non user in to the potential users. And potential user to the regular user. They are giving the different gift vouchers, gifts, couple tickets, free tickets for Fantasy Kingdom ride etc. So the consumer or the listeners are attracted and listen the radio today.

d. User rate: Market can be segmented in to Light, Medium and heavy users. How much time period listener are listening today so they have adopted the strategy to convert light users in to medium users and medium user to heavy users. First of listener have to listen the program carefully then give answer bay call or SMS. Sometime RJ calls back the specific listener for giving any right answer of quiz or for any interesting sms. The person is attracted from gift vouchers, gifts, movie tickets, restaurant discount coupons.

e. Buyer’s readiness level: Consumers are aware about the program by giving advertising in the news papers, hording, and promotion. They are coming out cricket updates, traffic beats, stock market updates.

f. Loyalty status: Buyers can be divided in to the 4 groups according to the loyalty status.

a. Hardcore loyalb. Split loyalc. Shifting loyald. Switchers

Radio today has to convert the split loyal in to the hardcore loyal.

3.2 2) TARGETING: Once the firm has identified its market segment opportunity it has to decided how many and which ones to target. Marketers are increasing combining several variables in an effort to

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identify smaller, better, defined targets groups.

LEVELS OF TARGETING: There are three levels of targeting-1. Homogeneous preference,

2. Defused preferences &

3. Clustered preferences.

Radio today do not use the homogeneous preferences, they are also not using the defused preferences. They are using the clustered preferences because specific types of customers are having specific need. The need of the different person is different. Radio today are targeted to the college and university students and the teenagers so they playing hot and the new songs. At Saturday afternoon they play new releases and international numbers in Today’s World Music.

They also targeting the mature person and they like to listen old and melody songs. Radio today is playing this kind of old songs in the Friday noon in the show of Rupali Gaan. Besides this station also targeted religious people by arranging a program at Friday from 12.30 pm-1.45 pm called Islamic Song.

NICHE MARKETING:-

Niche marketing is more narrowly defined customer group seeking a distinct mix of benefits. Marketers usually identified needs by a dividing a segment in to sub segment. Radio today people using very less this type of segment marketing.

3.2 3) Positioning: Positioning is the act of designing companies offering an image to occupy

distinctive press in the mind of target segment. It is the process to make place in consumers’ minds that way you want your brand to own- the benefit you want to make them to think of when they think of your brand.

A well crafted brand positioning has three primary components:

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A definition of the target market you wish to pursue. A definition of the business you company is in or the industry or category it

competes in. A statement of your point of difference.

“WE PLAY HITS BEFORE THEY ARE HITS”

From the above positioning statement given by the radio today want to specifies that they are wanting to make people happy by playing hit songs before they are hits and also making the artist happy by playing their song repeatedly with the intention for making it a hit number. And they are doing the same activity and they always make people happy by listening them, all new and the hot songs. They are having a kind of the program and the RJs, to enjoy the songs. They rarely play sad and the emotional song. “Radio today-The Green Radio” this statement defines that whomever listen this station become aware of green globalization and thus contributing in green globalization. They are having some program like U-Turn in this kind of program they are giving entertainment and funny jokes. And all RJ’s of radio today are also very funny in their own program and they also make some funny contests and so on. So we can tell that the statement “The Station of The Nation” is true because they want to give full entertainment.

They define their target market they wish to pursue by differentiating and arranging different type of program by targeting different types of listeners. For example in the early morning they play a peaceful song and the prayers so the old aged people get satisfaction. Generally people become happy when his or her satisfaction is satisfied and the radio today is doing the same thing they provide the different promotional offers and the other gifts so people are being happy. Again through the program “Today World Music” they are target to make position in the mind of young generation.

Radio today is competing in entertainment industry because it is a channel of entertainment. They define their competitors. Direct competitors are three other

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private radio stations- Radio Foorti, Radio Amar and ABC Radio. They indirectly compete with Bangladesh Betar and other entertainment channels like TV, Internet, and Movies etc. And another thing is that the RJs of the today are fantastic and very popular .As they are the first private radio station in Bangladesh, RJs in this station always get some priority. They are playing superb songs during the day. They take interview of the celebrities like hero, heroines, sports persons, actors, singers, businessmen, corporate person etc.

HOW TO CREATE BRAND POSITION:-

PRODUCT DIFFERENTIATION:

Brands can be defined as we have already mentioned that on the basis of a number of different products or service dimensions product from future performance as well as search service dimensions as ordering delivering installation, customer training, maintenance and repaired decide this concern one more general positioning for brand is as best quality.

In Radio today a program like Rat Vor Gaan is very different from the all the program showing the mind of consumer it has great impact so the listeners always listen this kind of program. Besides this popular program this station broadcast English news everyday at 9.45 am arranged by jointly Voice Of America and Radio Today. This news segment made their station even more different and attractive to certain group of listeners.

Radio today is also pioneer in starting online radio. Listeners can listen the station through internet by registering and logging in their website. Thus making a product differentiation.

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PEOPLE DIFFERENTIATION:

Company can gain a strong competitive advantage through having better people. In the Radio Today. RJs are the biggest asset for the any radio station. Radio Toady is having the best RJs in Bangladesh. As they are the first private station their RJ s are very popular compare to other stations. Besides this some listeners are greatly fascinated with some RJs in radio today like RJ Nirob, RJ Sakib, RJ Prottoy, RJ Farhana. They provide best training and development program to RJs.

IMAGE DIFFERENTIATION:

The listeners differentiated company and brand image. The radio today has trying to create different image in the mind of consumer. They have attracted more listeners by being pioneer and playing different types of song focusing mainly on domestic songs and broadcasting various programs.

They are also differing from the frequency i.e. 89.6 f.m. Radio today is tuned on the 89.6 frequency and they give a tag line to differ it to from other radio stations is “The 1st Private Radio Station.”

3.3 CONSUMER BASED BRAND EQUITY

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Every organization has a brand, whether they have consciously developed it or not. A Brand is simply an expectation or a promise of an experience. Whether that expectation is trusting, authoritative, innovative, or fun, brands are short-hand for describing the way a business, organization, product, service, celebrity or other entity relates to its Stakeholders (e.g., customers, donors, employees, investors, volunteers, suppliers, etc.). A strong brand impacts everything from the ability to recruit top talent and to opportunity to grow the bottom line.

The way to build a strong brand is to put customers and their needs at the center of every decision the organization makes. Over time, “customer-centric” actions create differentiation in the marketplace and build emotional connections with customers. This differentiated bond, called “brand equity”, is a real and valuable asset with tangible returns in terms of customer loyalty, profitability, and insulation from negative publicity or competitive action.

CBBE model is a power of a brand that resides in the mind of customers. It means understanding the needs & wants of consumers & organization & devising the products, program to satisfy them are at the heart of successful marketing.

Radio today is a brand itself. It is developing consumer based brand equity by providing programs according to customer’s needs & wants and satisfying them.

The Brand Equity Pyramid-

The standard tool for understanding a brand’s associations and customers’ response toit is the brand equity pyramid . The strongest brands exhibit both “duality”(Emotional and functional associations) and richness (a variety of brand associations or “Equity” at every level, from salience to resonance). The more the brand elements, The stronger the brand. Understanding a brand’s equity elements and those of its competitors is the first step toward in developing effective brand building and Measurement programs.

To understand CBBE model brand building blocks is very important .How radio today is building

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brands can be understood by the following CBBE brand equity pyramid.

a. Brand Salience: It measures the awareness of the brand .A brand we easily recall has a

deeper level of brand awareness. we can easily recall radio today & its programs are always in our memory. So the depth of brand awareness is also very high.

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b. Brand performance: Brand performance describes how well the products or programs

meets customers more functional needs. Radio today is very reliable as it has consistency with its programs. It is satisfying listeners according to their requirements so it has service effectiveness.

c. Brand Imagery: It refers to more intangible aspects of the brand .As more listeners are

listening radio today, day by day listeners of radio today are increasing so it is creating a brand image in the mind of listeners.

d. Brand Judgments : Radio today has brand superiority. It always try to arrange their program

in a unique or different way .It has the brand credibility as it has the likability (fun , interesting), innovative expertise as always try to do something different programs for the listeners & Customers can rely on them as they maintain the standards of the programs , it does not disclose the personal information of listeners.

e. Brand Feelings: It is the emotional responses & reaction to the brands. Listeners of radio

today share their feelings experience by sending sms, giving call & sometimes come to radio studio to share their experience.

f. Brand Resonance: It focuses on ultimate relationship of the brand with customers. Repeated

listening to radio today means it has behavioral loyalty. Listening this channels customers provide a positive attitude. It establishes a strong personal attachment. Regular listeners of this channel build a community or friendship among them. They feel a kinship or attachment for each other.

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3.4 BRAND ELEMENTS

Brand Equity: Fundamentally, branding is all about endowing products and

services with the power of brand equity. Brand equity consists of the marketing effects uniquely attributable to a brand. That is, brand equity explains why different outcomes result from the marketing of a branded product or service than if it were not branded.

Types of Brand Elements: Generally, Brand name is considered as an ideal

brand element. A brand name would be easily remembered, highly suggestive of both the product class and the particular benefits that served as the basis of its positioning, inherently fun or interesting, rich with creative potential, transferable to a wide variety of product and geographic settings, enduring in meaning and relevant over time and strongly protectable both legally and competitively. Unfortunately, it is difficult to choose a brand name-or any single brand element for that matter-that satisfies all these criteria. That’s why there are various types of brand elements. For building strong brand marketer of every product and service should select appropriate brand elements for their product or service. So, as Radio today crate their brand equity by choosing a unique, meaningful and different name along with other brand elements.

a. Brand names: The brand name is fundamentally important choice because it

captures the central theme or key associations of a product/service in a very compact and economical fashion. Brand name is extremely effective shorthand means of communication. Customers can notice the brand name and register its meaning or activate it in memory just a few seconds after seeing or listening the advertisement of the particular product or service. Radio today, made their brand name in a way, that it can satisfy the central theme of brand elements. The name is short and easily recallable and the name itself made the listener to be attached to their channel more eagerly. Their name needs not to update over time because the name itself will always mean the present situation. As their main brand element which is brand name became successful, they found it easy to establish brand equity along with other brand elements.

b. Brand awareness: Brand name that are simple and easy to pronounce or spell,

familiar and meaningful and different, distinctive and unusual can obviously improve brand awareness. The name ‘radio today f.m. 89.6- the first private radio station always crate brand awareness to the mind of listeners. The name is easy to pronounce & spell and explaining the meaning which is at the same time

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different & unique from other radio station name. Besides the name, the tag line always creates a certain feelings in the mind of consumers, that it is the pioneer in radio channels in Bangladesh thus crating strong brand awareness.

c. Brand Association: Because the brand name is a compact form of

communication, the explicit and implicit meaning consumers extract from it are important. In particular, the brand name can reinforce an important attribute or benefits association that makes up its product or service positioning. For Brand association the name of the station itself explains both the implicit and explicit meaning. The name radio today indicates that, it is the radio for present time and reason behind choosing the word today indicates that forever this name will explain the present and current entertainment world.

d. URLs: Uniform resource locators specify locations of pages on the web and are

also commonly referred as domain names. Anyone wishing to own a specific URL must register and pay for the name with a service. Typically for an existing brand, the main URL is a straight forward of the brand name. As URLs indicates, radio today have their own domain name, that is- “Radio Today FM 89.6- First Private Radio station in Bangladesh” and their website address is- www.radiotodaybd.fm

e. Logo and Symbols: Although the brand name typically is the central element of

the brand, visual elements also play a critical role in building brand equity and brand awareness. Logos means to indicate origin, ownership or association. Logos range from corporate names or trademarks written in a distinctive form, to entirely abstract design that may be completely unrelated to the word mark or corporate name or activities. The non-word mark logos are also often called Symbols.

From the figure we can see that the entire name is the logo of radio today, which is colorful and aesthetically appealing and memorable. In the logo they also contain a tag line, that is – “ The 1st Private radio Station”

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f. Character: Brand Character represents a special type brand symbol- one that

takes on Human or real life characteristics. Brand characters are typically introduce through advertising and can play a central role in ad campaigns and packaging design. As radio station is a network based service not a product, so brand character cannot be established directly and visibly. Here RJ can create their own brand character. Sometimes popular RJ can create their own brand, like RJ Nirob, RJ Sakib. These RJ made their respective show very popular through their own talent, skill, communicating style and way of talking and managed to increase their TRP compared to other RJs program and thus contributing to build strong brand equity for radio today.

g. Slogans: Slogans are short phrases that communicate descriptive or persuasive

information about the brand. They appear in advertising and play an important role in other marketing activities. Slogans are very important brand element for a radio. Their main slogan is-

“WE PLAY HITS BEFORE THEY ARE HITS”

We have already mentioned that what the slogan means and what implicit and explicit themes they want to create in the consumer mind. Besides this slogan they have two more slogan, these are- “Station of the Nation” and “All Day, All Hits”. Each slogan contains different meaning and playing important role of creating brand equity and brand awareness.

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h. Jingles: Jingles are musical message written around the brand, played at the

time of advertisement. They can communicate brand benefits but they often convey product or service meaning in a nondirect and fairly abstract fashion. Jingles are perhaps most valuable in enhancing brand awareness. Consumer is also likely to rehearse or repeat catchy jingles after the ad is over, providing

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more encoding opportunities and increasing Memorability. Of course every radio station must have their own jingles. For radio stations it is prerequisites. Like another 3 radio station in Bangladesh, radio today has their own jingles, played repeatedly. The jingle is truly musical and persuasive and easily memorable. Their jingles remind all the time the name of their station to the listeners. At the end of the jingle they give a message to the listeners that is- “The Green radio.”

i. Packaging: Packaging is the activity of designing and producing container or

wrappers for a product life. As radio today is a network based service, their program arrangement can be referred as packaging. That is, different types of musical show, interviews with celebrities, live request shows, news before any other f.m. station and some popular RJ made the entire packaging of program very attractive, thus working towards establishing strong brand elements.

CHAP-5

SWOT ANALYSIS

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SWOT analysis is the analysis of four major details of the four major elements i.e. Strength, Weakness, Opportunities and Threats. In this two elements Strength and the weakness is the internal and another two opportunities and threats are the external factors.

Here SWOT analysis is done for Radio Today –

5.1. STRENGTH:-

Strength is the symbol of competence or ability of the firm. This may be internal and external strength. Generally the firms fight against the threat on the basis of their respective strength. The organization can overcome its weakness to convert them in to their advantages. Strength provides competitive edge and niche over the competitors. Strength of the Radio Today is 24 hours means they are providing radio 24 hours.

There are five characteristics of the strength are as follows:

a) First mover advantage: First mover means first company which has started its business in the market or the city. Radio today has a first mover advantage. They are providing the latest songs in their radio. They have launched very first radio station in the city so the customer or the listener are aware about the RJs of them. Because of the first mover advantage they get the maximum number of the customers.

b) Access to media: Radio today is now becoming media partner of various programs.

c) Product Innovation: Radio Today is trying to give new and new featured program. So radio today is coming with new and new program because in this era the people want changes in the program and the product. Generally they are coming with one new program every year. And Radio Today having an own copy writer and they are taking the full benefits of it. They are writing their new program from the copy writer.

d) High listenership: Radio Today’s programming focus in radio is on contemporary film music shows , folk songs, Band music, Hip hop ,rock music ,adhunik Bengali music ,talk shows and celebrity interviews. Radio Today has developed good relationships with the film industry in Bangladesh helping it to have innovative and creative content.

e) Strong Brand Equity: As in the first character we have discussed that radio Today is the First 29

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mover so they are getting that and become a strong brand in the market .Radio Today is the no.1 Radio station in Dhaka and so although having a strong competitors like radio Foorti, Radio Amar and ABC Radio they have a more listeners.

f)Famous RJs: RJs are the real assets of the any FM company .They have a famous RJs like RJ Nirob, RJ Sakib, RJ Prottoy, RJ Farhana and without the service provider any FM industries company cannot give the service. So if any famous RJ’s program is there, there will be the highest listeners.

5.2. WEAKNESS:

The organization may also survive by avoiding the unnecessary weakness. The organization conducts the feedback and service to search for the latent weakness. It requires productive approach and inward looking method to revise the policy and procedure of the organization.

There are three elements of weakness:

a) Lack of local touch: Radio today is in Dhaka & Chittagong but they are not playing Chittagongian songs so this is the biggest weakness of the radio Today.

b) More advertisement: Radio today gives more advertisement in the radio so the interested people can be bored of it and they go to the other stations. They are generally gives advertisement 10 minutes in the one hour.

c) Over repetition of the songs: The radio today plays songs from the grades and they play A+ song in a day approximately 17 or 18 times. So whomever listening a radio for very long time may be bored from the repetition of the songs.

5.3. OPPORTUNITY:

Opportunity means chance to do something innovative or take the advantages of the vacuum existing in the market. The opportunity always exists but they need to be realized and recognize. This requires entrepreneur foresightness.

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There are three things included by radio today.

a) Wide Untraced market: Listeners can listen Radio Today from 32 cities and there are many spaces where radio today can open their FM station. So if they are adding these areas where they haven’t started their FM station is beneficial.

b) Increase audience: FM listeners are increasing day by day and they are used to listen radios. And where radio today has monopoly at their people will only like to listen radio today. All people are interested to listen a song on radio not on the Television.

c) More Access point to listen: There are many instruments to listen radio today or radio. We can listen radio in the Buses, mobiles, offices, restaurants etc.

5.4. THREATS:

It is important to analysis the threat of the business. SWOT analysis is useful machine for searching the latest threat for the business. The last is the Threats is the point at which we can understands that what is the threat of the company.

Below two items are included in the threat analysis.

a) Increasing competition: Radio today is only one player so he can enjoy the monopoly. But in the last two year many FM station are started. The biggest competitors of the radio today are the Radio Foorti, Radio Amar.

b) Government policy: Radio Today and any other FM station are based on the license. They have to get license from government for radio and suddenly government increasing the fees of license than it may happen that fm station has to stop their work or pay high fees to the government,

Chapter 6

Findings & Conclusion

6.1 Findings:31

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Radio today segmented their consumers based on Geo-grapy, Demography, and Behavior. They are using the clustered preferences because specific types of customers are having

specific need. They also targeting the mature person and they like to listen old and melody songs

“We play hits before they are hits” is the slogan of radio today. “The Green radio”- this statement defines that whoever listen this station become aware of green globalization and thus contributing in green globalization.

To create brand position they differentiated their programs based on age, gender. This is the first private radio station. They have a famous RJs like RJ Nirob, RJ Sakib, RJ

Prottoy, RJ Farhana. Radio today is now becoming media partner of various programs. They are having lacking of local touch. The radio today plays songs from the grades and they play A+ songs in a day

approximately 17 or 18 times so it has repetition problems.

6.2 Conclusion: Radio today is a no.1 FM station in FM industry in all over Bangladesh. It

is having profit in their Balance sheet. They have best RJs in the Whole FM industry. They have created their station as a brand by providing unique & different programs to the listeners. They have adopted corporate strategies. They are having gender base segmentation, age group base, etc. they are playing all the melody as well as new, hot, and the rocking songs. That’s why we can say RADIO TODAY IS -“STATION OF THE NATION.”

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