- April 21, 2014
- Posted by: essay
- Category: Term paper writing
ITV is one of the leaders in the broadcasting industry in the UK. Even though the company maintains a strong position in the UK market, but the company attempts to expand its network internationally. However, more efforts have to be undertaken in this regard because its current position in the international market is quite uncertain. ITV PLC has substantial experience and resources, which the company can use to reach its strategic marketing goals. Therefore, the company can boost its business development and to use the full potential of its strengths to realize the opportunities it has at the moment.
In this regard, it is possible to provide several recommendations, which ITV PLC can use to meet its strategic marketing goals. First, the company should differentiate its products from that of BBC, as the major rival of ITV PLC. The differentiation can help the company to attract its specific target customer group.
Second, the company should focus on the localization, while operating in the international market. For instance, the company should conduct the study of local customers’ needs and preferences and to provide them with products and services they expect from the broadcaster. The localization will also decrease costs of the labour force since the company will employ local professionals instead of transferring employees from the UK paying them high wages to motivate them to transfer to work abroad.
Furthermore, the company can combine its online and broadcasting services and offer customers the combined services. Hence, when customers want to purchase the services of the company they can receive both broadcasting and online services. In such a way, the company will expand its business fast boosting its business online. Finally, ITV PLC should focus on markets of developing countries, such as India, Brazil, and others, where the demand on broadcasting services is high and customers can afford using the company’s services. These markets grow fast and company can benefit from entering them before its major rivals.