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  • Essay / The Fashion Channel - 1328

    1. Interpretation of consumption and market data. Since its inception in 1996 until recently, The Fashion Channel (TFC) has enjoyed great success in reaching as wide an audience as possible. Overall viewership was the main goal, and as long as TFC didn't have significant competition in terms of the fashion-specific content it offered, this "something for everyone" approach was a winner. But competitors such as CNN and Lifetime have taken note of TFC's importance. success. They started offering fashion-specific programming. Consumers now have a choice, and reviews show that non-loyal consumers are starting to choose alternatives to TFC. The reasons for this can be found in the recent Alpha Customer Satisfaction Research Study, which shows that in consumer interest, awareness and perceived value, CNN and Lifetime outperform TFC. TFC's two main sources of revenue – cable affiliation fees and advertising – are threatened by the lure of CNN and Lifetime's fashion programming to audiences formally exclusive to TFC, and by the current inability to TFC to adequately differentiate itself from its competitors. So, who are the TFC viewers? ? A detailed demographic breakdown shows a 39-61% split in favor of women, with 33% of viewers aged 18-34 and 45% aged 35-54. A consumer survey by GFE Associates identifies four groups that constitute potential viewers: fashionistas (fashion enthusiasts, who make up 18% of those surveyed); Planners and buyers (fashion lovers, 35%); Situationists (occasionally interested in fashion for a specific purpose, 30%) and Basics (generally uninterested in fashion, 20%). GFE's attitudinal research indicates that male consumers tend to fall into the Basics group, while 61% of fashionistas are female. A...... middle of paper......to the network - an audience that feels engaged in programming that is specifically aimed at them and is less likely to drift toward the competition. Adopting Scenario 3 requires a key consciousness shift within TFC. The “something for everyone” strategy has served it well for over a decade. Revenues remain high and viewership has continued to grow, which could encourage resistance to change within the network structure. Thus, a detailed consultation and education policy must be formulated, so that everyone within the network understands the threats facing developing competition and the great benefits for TFC of carefully moving in a new marketing direction. studied towards specific segments of its network. viewers.BibliographyStahl, Wendy. (2007, June 1). The fashion channel. Boston, Massachusetts: Harvard Business School Publishing.