Frequency of Purchase Satellite television subscriptions are expensive, and most companies lock consumers into a contract. These contracts can range from one year all the way to three years, but they typically run around two years according to the data. A recent study of individuals who have pay-T.V. subscriptions shows that on average they spend $128.83 a month on satellite television subscriptions (Content Consumption, 2016). Because of the high prices and contracts that customers must be truthful too, many customers do not purchase satellite television often. Unlike many other products or services, satellite television does not get old, wear down, or need to be replaced. Typically, consumers only repurchase satellite television services when their contract has ended, or when other companies offer much better deals and incentives than their current providers.
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Because the frequency of purchase for satellite television is not often meaning that people buy this service, and utilize and keep it for many years it is imperative that the organizations work extreme hard on their customer service and retention, to ensure happy, loyal customers so that the organizations churn rates continues to grow year after year. A side note to the frequency that consumers purchase satellite television services is that the number of people actually purchasing and using these services has decreased over the years. Many organizations report that their number of subscribers drops each year, and a recent study found that 33% of people who do not have television subscriptions report that they would rather use platforms like, Netflix, Amazon Prime, or other subscribers (Pay TV and Home Communication, 2014). The increase in online television, and movie streaming is a huge threat to the pay-T.V. industry, and it is important factor for all companies, including Mission Television to pay close attention to ensure that customer repeat purchase the services. The United States Pay -T.V. market is extremely competitive and just as mature, with TV present in almost 95% of households and Pay-T.V. penetration at over 85%. The three main competitive bands within the industry that Mission Television will have to compete with are DISH Network, DIRECTV, and Comcast. Together these …show more content…
These three terms (Values, Attitudes, and Lifestyles) give companies an idea of the inert nature of their consumer. The best way to know what consumers are thinking is to understand their vales, attitudes, and lifestyles, this allows organizations to effectively promote, and market their brands to consumers. Of the various VALS categories, Achievers and Innovators are the best categories for Mission Television when it comes to their respected target audience. Achievers want to excel at their job as well as with their families. Because of this they are more likely to purchase a brand which has been successful over time. Innovators are characterized by high income and high resource individuals who find independence very important. They have their own individual taste in things and are motivated in achieving the finer things in life (Bhasin, 2106). Since the television provider industry is dependent on consumers with a quality amount of disposable income, these two categories fit directly into the type of consumers which Mission Television would seek to target. These two categories tend to focus highly on success in their jobs and personal lives. Individuals whom have a high income and strive for success and achievements tend to be able to spend money on luxury items, such as satellite
Because the frequency of purchase for satellite television is not often meaning that people buy this service, and utilize and keep it for many years it is imperative that the organizations work extreme hard on their customer service and retention, to ensure happy, loyal customers so that the organizations churn rates continues to grow year after year. A side note to the frequency that consumers purchase satellite television services is that the number of people actually purchasing and using these services has decreased over the years. Many organizations report that their number of subscribers drops each year, and a recent study found that 33% of people who do not have television subscriptions report that they would rather use platforms like, Netflix, Amazon Prime, or other subscribers (Pay TV and Home Communication, 2014). The increase in online television, and movie streaming is a huge threat to the pay-T.V. industry, and it is important factor for all companies, including Mission Television to pay close attention to ensure that customer repeat purchase the services. The United States Pay -T.V. market is extremely competitive and just as mature, with TV present in almost 95% of households and Pay-T.V. penetration at over 85%. The three main competitive bands within the industry that Mission Television will have to compete with are DISH Network, DIRECTV, and Comcast. Together these …show more content…
These three terms (Values, Attitudes, and Lifestyles) give companies an idea of the inert nature of their consumer. The best way to know what consumers are thinking is to understand their vales, attitudes, and lifestyles, this allows organizations to effectively promote, and market their brands to consumers. Of the various VALS categories, Achievers and Innovators are the best categories for Mission Television when it comes to their respected target audience. Achievers want to excel at their job as well as with their families. Because of this they are more likely to purchase a brand which has been successful over time. Innovators are characterized by high income and high resource individuals who find independence very important. They have their own individual taste in things and are motivated in achieving the finer things in life (Bhasin, 2106). Since the television provider industry is dependent on consumers with a quality amount of disposable income, these two categories fit directly into the type of consumers which Mission Television would seek to target. These two categories tend to focus highly on success in their jobs and personal lives. Individuals whom have a high income and strive for success and achievements tend to be able to spend money on luxury items, such as satellite