Business Research, (part I)
Ace Cable is a well established company which offers cable television, telephone and internet services to its customers. These services are available to customers across the United States and have been in business since 2000. In the recent years, the competition has grown and Ace Cable is experiencing a decrease in customer enrollments. Customers now have multiple options to consider before enrolling into an agreement. Ace Cable is looking to implement initiatives to help gain insight on how to convince more consumers to sign with the company, and in turn see the ROI (Return on Investment) on measures such as marketing and advertising.
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To determine what a customer wants out of their cable company, Ace Cable should know what their competition is offering. Is Ace offering the same if not better services and incentives than their competitors? Can they afford to offer the same if not more than all other vendors offering the same service? Being able to cover a lot of ground will make Ace Cable more marketable. Ace Cable should investigate in key areas of the U.S regarding the best coverage in relation to other cable companies, and make sure that all of the areas they cover are in targeted locations. In regards to effective advertising, Ace may need to ensure their marketing strategy is in alignment with their target consumer areas in which service is available, thus allowing for additional leverage on the competition. “With so many users all over the world, one of the biggest advantages of internet advertising is that it not only targets local, but global audiences too. With such a far reach, it is highly likely that advertising will not be converted into an eventual sale (Lalwani, 2011). By establishing effective marketing and advertising strategies will help close the gap with enrollment issues.
The cable industry is wide spread and challenging. As the company turns its focus to acquisition of new clients Ace Cable must first understand the variables involved. The first and most prominent variable is the competition. Companies such as Dish Network, Cingular, and Com Cast have saturated the marketplace reducing current market share. New competitors such as companies like Netflix have moved to live streaming of videos. Another variable is pricing, offering the best service with a balance between cost and revenue is a constant that affects our bottom denominator. Finally, retention is the direct opposite of the initial concern of acquisition; however, if we are losing more clients than we are acquiring the efforts are counterproductive and costly. As the focus is on growth of market share it is important to understand the variables which must be overcome.
Some ethical considerations in customer enrollment are the advertising with competition and customer information kept secure within the company. Many times when a business is in a market with a lot of competitors they could be involved with false advertising. False...