MTV Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of MTV analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on MTV marketing mix, help the brand succeed in the market. Let us start the MTV Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
MTV Product Strategy:
The product strategy and mix in MTV marketing strategy can be explained as follows:
MTV is one of the most popular music & entertainment channels spread worldwide. MTV telecasts music videos, concerts, reality shows & other youth focused entertainment content as a part of its marketing mix. Over the years the channel has expanded its service portfolio and offers a lot more shows like reality shows, comedy shows, movies etc. MTV business was a success as most of the record stores started selling albums of music aired on MTV channel. MTV not only focused on playing music videos on its channel but also it covered global concerts like Live Acid. MTV also added electronic and pop in their music rotation.
MTV also airs program under comedy, drama, reality show category. MTV aired a news show ‘House of Style’ covering the fashion topics and a dance reality show ‘Club MTV’. MTV also runs its music programs like MTV unplugged which covers performances from big celebrities. MTV also runs its own music award show ‘MTV Music Video Awards Show’ which has now become one of the most watched annual event.
Image: company website
MTV Price/Pricing Strategy:
Below is the pricing strategy in MTV marketing strategy:
MTV target audience is young viewers like teenagers, college going students. MTV has always adopted the marketing mix strategy to being a pay channel because of its content and popularity.
MTV being a pay and get service channel keeps the subscription fee to the channel in the range of medium to low as it targets more penetration to reach different parts of the country. MTV also makes money from advertisers which advertise on its programs. MTV also earns revenue from its sister channels like VH1, Nick, Spike, Comedy central which are also based on pay and get service and are priced at mid range.
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MTV Place & Distribution Strategy:
Following is the distribution strategy in the MTV marketing mix:
MTV has got good distribution coverage of its channels. Approximately 80% of the US households have received the channels offered by MTV. MTV has got a wide penetration in all the countries. MTV ties up with the top cable channels in all the respective countries and gives its services at a medium range to the customers. MTV has coverage of nearly 50 countries including India, Canada, Argentina, France and many more. MTV is flexible to adapt its programs according to the local demand and trend in the country. It airs shows in local dialect according to the country to get vide audience like we have MTV Japan to meet the taste of Japanese people similarly MTV India for serving Indian customer base.
MTV also has its own website as mtv.com where customers can watch programs online.
MTV Promotion & Advertising Strategy:
The promotional and advertising strategy in the MTV marketing strategy is as follows:
MTV is very good at leveraging online social media like Facebook, Twitter, Tumblr etc to promote its programs. Due to which it has got a great brand awareness amongst youngsters. MTV uses celebrities to promote its programs. MTV unplugged features big celebrities in action and singing for the program. MTV music awards also now the famous annual event of MTV which is broadcasted and viewed by people from all over the countries. MTV also uses promotion through mobile apps and its website to gain popularity. MTV also sells its merchandises like clothing, personal care products, soundgear, watches, footwear, coffee mugs and a lot more to increase its brand awareness and connect with the youth.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of MTV.
People:
MTV operates in over 50 countries and maintain the same enthusiasm and brand value. MTV pays special importance to fostering talent within its employees and maintain a proper work life balance. MTV considers its employees as the stars for the programs. The company organizes focus group meetings with employees to know grievance and take proper initiatives to improve contribution and morale of the employees. MTV also runs various career enrichment program for its employees. MTV hire college students and offers them paid internship to get them the feel of the company and work culture. The employees are used to lot of travel and fun activities. Other benefits that the MTV employees enjoy includes health care program, paid vacation, work life balance, back up child care program and many more.
Process:
MTV has got good distribution coverage of its channels. MTV ties up with the top cable channels in all the respective countries and gives its services at a medium range to the customers. MTV has coverage of nearly 50 countries including India, Canada, Argentina, France and many more. MTV being a pay and get service channel keeps the subscription fee to the channel in the range of medium to low range. A customer who wants to see MTV program needs to have subscription for the channel. The channel can be availed through Direct TV and Dish network. Beside the channel on TV, MTV has its own website which can be accessed online for free and customers can watch programs online and through mobile app. This shows how the process in its marketing mix enables the company to be a leading brand.
Physical Evidence:
MTV has coverage of nearly 50 countries including India, Canada, Argentina, France and many more. MTV is flexible to adapt its programs according to the local demand and trend in the country. It airs shows in local dialect according to the country to get vide audience like we have MTV Japan to meet the taste of Japanese people similarly MTV India for serving Indian customer base. MTV also has its own website as mtv.com where customers can watch programs online. MTV also sells its merchandises like clothing , personal care products, soundgear, watches, footwear, coffee mugs and a lot more to increase its brand awareness and connect with the youth. All these acts as a physical evidence for MTV. Hence, this completes the MTV marketing mix.
About MTV:
MTV stands for Music TV. It is an American TV channel belonging to media and Entertainment industry. MTV is owned by Viacom Media Network. The headquarters of the company is at New York. MTV was founded in the year 1981. MTV started its operations by airing music videos and these shows were hosted by famous TV personalities called as Video Jockey. Now the channel has expanded its service portfolio and offers a lot more shows like reality shows, comedy shows, movies etc. Some of the main competitors of the channel are UTV, 9xM, Zoom, YouTube etc. MTV target audience is young viewers like teenagers, college going students.
The company has got good distribution coverage of its channels. Approximately 80% of the US households have received the services offered by MTV.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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