In the entertainment industry, the role of TV channels is changing from mere being broadcasting daily serial to shaping the society and showing a clear picture of what is happening in and around.
Colors are the subsidiary of Mukesh Ambani led 50:50 joint venture firm Viacom media 18 Media Pvt. Ltd. Viacom 18 was formed by a joint venture between Viacom and network 18. Currently, Colors channel is present in India and US while it is broadcasted in various countries globally.
Segmentation, targeting, positioning in the Marketing strategy of Colors –
Segmentation is the key element in identifying a different group of customers and their varied needs. Colors use demographic and psychographic segmentation strategies to entertain the masses with its various shows, serials and movies accordingly so as to have high TRP (Television Rating Point).
A company has positioned itself as a brand giving importance to the rich cultural heritage of the South Asian nations portraying the emotions & feelings of the masses. Cultural symbols based positioning based positioning strategy is used by Colors.
Mission- “Not Available”
Vision- “Not Available”
Tagline-“Jasbaat Ke Rang”.
Competitive advantage in the Marketing strategy of Colors –
Strong Parent company: Viacom18 is the parent company of Colors which is operating in 5 lines of interrelated businesses with 36+ channels and a strong workforce of more than 1500+ people for targeting more than 5 crores of the viewers monthly.
Vast presence: Company operates throughout India with regional and national Colors channels in the respective language. It has targeted the national as well as a regional population so as to capture the whole market with its entertainment solutions.
BCG Matrix in the Marketing strategy of Colors –
Colors has garnered strong market share since it has been launched. The shows with innovative and new contents have helped the company in capturing the large share of the market it operates into. After only one year it has garnered 24% market share competing with companies like market leader Star plus, Zee and Sony.
It operates in three segments i.e. Fiction shows, Realities shows and Mythology. All the three segments are Stars in the BCG matrix since each segment air the shows which have highest TRP.
Distribution strategy in the Marketing strategy of Colors –
The Colors channel is distributed through dish network, Tata Sky, and many others local and national distributors. Apart from this since the use of online platforms/ digital mediums is on boom the contents are available through online sites, youtube and various sites stream the TV too. Colors use various mediums such as radio, online sites, banners, hoardings (indoor and outdoor promotional mediums) for increasing its awareness in the markets it operates.
Brand equity in the strategy of Colors –
The brand has been a sponsor of various award ceremonies like IIFA awards, Golden Jubilee award, and many others. The parent company is in 5 lines of business which is helping the brand to increase its visibility through different mediums.
Competitive analysis in the Marketing strategy of Colors –
Since people from south Asian countries are major contributors of the world’s population, there are numerous channels broadcasting some or other contents or shows. Emerging markets are the growing markets to which company looks up to for expanding its reach. It competes with channels like Star Plus, Sony, Zee TV, Star Utsav, SAB etc.
Market analysis in the Marketing strategy of Colors –
The emergence of the social media platforms, online video streaming sites and so many companies venturing out into the entertainment industry has resulted in intense competition.
Technological disruption, increasing labour cost, increasing per capita income, changing the lifestyle of the communities, literacy growth, rising infrastructure cost are some of the factors affecting the company in the businesses it operates.
Customer analysis in the Marketing strategy of Colors –
Colors customers consist of people from all age group since it has serials/shows for people of all age group it is easy for the company to retain its customers by airing the shows on the time based on the kind of the show and it is target groups are. Colors channel has become popular in a short span of time.