The Battle in Radio Broadcasting
Executive Summary
Sirius XM Radio is a company that provides free of commercial satellite radio services in both the United States and Canada. The company was born from the merger of XM Satellite Radio and Sirius Satellite Radio on February 19, 2007. Before the merger, the competitors were unsuccessful in creating a net profit and implementing a productive marketing strategy. The fundamental elements of Sirius XM Radio were essentially to promote the newest technological advancement product of radio which is what the company offered. This product was offered to every demographic without a specific market niche that it was geared towards. Having such a broad marketing strategy meant that the company would have to have a vast selection of music varieties as well as talk shows and sports station to satisfy every demographic. Since these two companies have conjoined as one, XM/Sirius have been able to essentially monopolized the satellite radio market in an effort both raise brand awareness and to increase subscriptions in an effort to bring both companies out of the red.
Methodology
• Strengths
Some strength’s of Sirius XM Radio are that they offer a variety of programming that no other media can match as far as radio. They cover all major sporting events and even signed big names for shows like Howard Stern, Oprah, Martha Stewart, and more. They also have a customer base of 20 million after the recent merger. Since it is a paid service, they can offer media outlets with little or no advertising to keep them afloat. Radio receivers are also getting cheaper as the technology becomes widely available. On top of all things, both products are featured in numerous models of nearly every car manufacturer.
• Wea ...