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Its a research methodology paper on red fm
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   RESEARCH METHODOLOGY Objectives Primary objectives:    To measure Radio Listenership Habits among the Youth.    To develop new music selection and programming strategies for Red FM. Secondary objective:    To analyze Five Force Model and PEST Analysis for Radio Industry.    To analyze workings of FM radio stations.    To analyze organization structure of Red FM Scope of research The research is undertaken to find out the preferences of youth for FM music. Therefore the researcher will be able to know about the youths’ preferences regarding different types of music, different programs and some new upcoming trends in radio industry. Researcher will also undertake study to understand what activities Red FM does to promote its brand or to penetrate to the target segment. It will undertake study of the promotional activities undertaken by Red FM. Research Design Descriptive Research:    Involves gathering data that describe events and then organizes, tabulates, depicts, and describes the data.    Uses description as a tool to organize data into patterns that emerge during analysis.    Often uses visual aids such as graphs and charts to aid the reader Description Research takes a “what is” approach:      Refers to the nature of the research question    The design of the research    The way that data will be analyzed for the topic that will be researched   There are few methods of data collection under descriptive research. They are:    Surveys    Interviews    Observation The methods used for this research would be mainly doing survey with the help of questionnaire and taking informal interview of people while doing survey of people. S ources of Data: Primary and secondary both type of data will be used for the study. Primary Research: Primary research will be done through survey of the youth. Secondary Research: Secondary data will be collected from radio channel itself, magazines related to the industry, newspapers and internet. Sampling Design Process   Target Population: Target population is youth of the city Ahmedabad between age group of 18 to 40. Sampling Technique:  Convenience Sampling The researcher performed a youth audit. Researcher visited majority of collages, malls and other such places in Ahmedabad. From there, researcher has collected the contact details of these samples and thus formed database. Thus it was a convenience sampling. Sample Size: 150 As the survey is for youth only, 150 sample size has been taken by the researcher. Data Analysis The researcher will use inferential statistics (through SPSS) in order to draw a conclusion. Result of the study will be put in tables and graphs for easy understanding of the findings of the research.  Limitations of the Study    Personal Bias    Time Limit    Area    Sample Size MEDIA AND ENTERTAINMENT INDUSTRY  Introduction: Media and Entertainment is one of the most booming sectors of the Indian economy. The sector is rapidly evolving and has a tremendous untapped potential stored in it. The Indian Media and Entertainment industry stood at Rs. 43,700 crores in the year 2009 and is expected to grow at an annual rate of 19% till the year 2010 The Indian Media and Entertainment industry can be categorized as follows:    Film Entertainment    Television    Music    Radio    Print RADIO INDUSTRY Introduction:   Radio has made a comeback in the lifestyles of Indians. Radio has the reputation of being the   oldest and the cheapest medium of entertainment in India. The radio industry has been completely reshaped by the various private players that entered the sector after the government allowed foreign investment into the segment and opened the licenses to the private players. The Indian government has already given 338 licenses for FM radio channels in 91 big and small towns and cities. The current size of the radio market in India is Rs. 300 crores and is expected to achieve the highest growth rate of 32% in coming years. Infact, in its new avatar-fm- radio is all set to become the hippest, coolest and most with -it medium. FM radio is a new entity altogether and has to deal with new market dynamics. Media owners dealing with new markets will virtually have to draw up their strategies as they go along, create programming that is new, innovative and grab away eyeballs from TV sets and make them tune into their radio sets. PESTEL ANALYSIS There are many factors in the macro-environment that will effect the decisions of the manager of any organization. Tax changes, new laws, trade barriers, demographic change and government policy changes are all examples of macro change. To help analyze these factors managers can categories them using the PESTEL model. This classification distinguishes between: Political factors: For radio industry political factors are:    To enter in the industry, high time entry fee has to be given.     Up to 20 per cent FDI is allowed in Radio Industry subject to an approval from Foreign Investment Promotion Board (FIPB) in addition to the guidelines notified by Ministry of Information and Broadcasting.      Up to 15% annual hike in the license fee.    Only 10 year of license is valid. Economic factors: These include interest rates, taxation changes, economic growth, inflation and exchange rates. As you will see throughout the “ Foundations of Economics ”  book economic change can have a major impact on a firm’ s behaviour. For radio industry economic factors are:    RJs are mainly attracted by package that has been offered to them by competitors.    The employees of radio industry are mainly attracted by package that has been offered to them by competitors. Social factors: Changes in social trends can impa ct on the demand for a firm’ s products and the availability and willingness of individuals to work. In the UK, for example, the population has been ageing. This has increased the costs for firms who are committed to pension payments for their employees  because their staff is living longer. It also means some firms such as Ads have started to recruit older employees to tap into this growing labour pool. The ageing population also has impact on demand: for example, demand for sheltered accommodation and medicines have increased whereas demand for toys is falling. For radio industry social factors are:    Demographic factors  –   there are different people with different age group.    People have different likings with other people.    TV is a family medium, while radio is a personal medium for entertainment. Technological factors:  New technologies create new products and new processes. MP3 players, computer games, online gambling and high definition TVs are all new markets created by technological advances. Online shopping, bar coding and computer aided design are all improvements to the way we do business as a result of better technology. Technology can reduce costs, improve quality and lead to innovation. These developments can benefit consumers as well as the organisations providing the  products.
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