Colors Marketing Strategy – Marketing Strategy of Colors: The role of television channels in the entertainment industry is evolving from merely broadcasting daily serials to shaping society and giving a clear picture of what’s happening around them.
Colors is a subsidiary of Mukesh Ambani’s 50:50 joint venture company Viacom media 18 Media Pvt. Viacom 18 was created by Viacom and network 18. Colors channel currently broadcasts in many countries worldwide, while it is available in India and the USA.
Colors At A Glance – Marketing Strategy of Colors
Company : Viacom18
CEO: Raj Nayak
Founder: Viacom 18 under then Chief Executive Officer Rajesh Kamat.
Year founded: 21 July 2008
Annual Revenue: US$435.4 ,illion
Profit | Net income: US$37 million
Number of employees : 250
Products & Services: General entertainment broadcast | Family dramas, comedies, youth-oriented reality shows, shows on crime and television films
Colors Fun Facts: Colors TV is an Indian general entertainment broadcast network owned by Viacom18. With 46 channels reaching out to 80 countries in 8 languages, across age groups, Viacom18’s on air shows deliver the most entertaining, enriching and engaging content in India.
Marketing Strategy of Colors
Colors’ Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Colors? Let us discuss.
Segmentation, Targeting, Positioning – Colors Marketing Strategy
Segmentation plays a key role in identifying different customers and their needs. To entertain the masses, Colors uses demographic as well as psychological segmentation techniques in order to achieve high TRP (Television Ratings Point).
It targets different customer groups and uses differentiating targeting strategy to air various shows.
A company has chosen to be a brand highlighting the rich cultural heritage of South Asian countries and the emotions and feelings of the masses. Colors use cultural symbols that are positioning and positioning.
Colors Mission Statement
Colors Vision Statement
“Jasbaat Ke Rang”.
Competitive Advantage – Marketing Strategy of Colors
Strong parent company: Viacom18, the parent company of Colors, operates in 5 lines of interrelated business with 36+ channels and a strong workforce that numbers more than 1500 people. The company targets more than 5 million viewers each month.
A vast presence: Company has channels in each language and operates across India. It is a targeted entertainment company that targets both the regional and national population to capture the entire market.
BCG Matrix – Colors Marketing Strategy
Since its launch, Colors has enjoyed a strong market share. It has been able to capture a large market share through shows that feature new and innovative content. It has gained a 24% market share in just one year, competing with companies such as market leader star plus, Zee, and Sony.
Operates in three segments: Fiction, Realities, and Mythology. Since each segment airs the shows with the highest TRP, all three segments are Stars within the BCG matrix.
Distribution Strategy – Marketing Strategy of Colors
The Colors channel is distributed by the dish network, Tata Sky, and many other local and national distributors. Aside from that, the content can also be accessed via online platforms/digital mediums. For increasing awareness in the markets where it operates, colors use a variety of media, including radio, online sites, and banners.
Brand equity – Colors Marketing Strategy
The brand has sponsored many award ceremonies such as the IIFA awards, Golden Jubilee Award, and many more. The brand’s visibility is increasing through various media because the parent company has 5 business lines.
Competitive Analysis – Colors Marketing Strategy
Many channels broadcast content or shows from South Asian countries, as they are large contributors to the world’s population. Companies look up to emerging markets for opportunities to expand their reach. It competes against channels such as Star Plus, Sony, and Zee TV.
Market Analysis – Marketing Strategy of Colors
There has been intense competition since the emergence of social media platforms and online video streaming sites, as well as many other companies entering the entertainment business.
Technological disruption, rising labor costs, increasing per capita income, changing lifestyles in communities, literacy growth, and rising infrastructure cost are just some of the factors that affect the company’s businesses.
Customer Analysis – Colors Marketing Strategy
Colors customers include people from every age group. Since it has serials/shows that are suitable for everyone, it is easy for the companies to keep their customers happy by airing shows at the times that suit the show and the target groups. The Colors channel became very popular within a short time.
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