Real-World Example 6.6
The sales manager of an FM radio station evaluated the results of efforts to sell
advertising and found that advertising customers obtained 45 percent or more of’
their business volume from the black community. Yet that group made up only a
small portion of the station’s listening audience, and the station had never attracted
the desired volume of advertising A shift to black disk jockeys and a program
format attuned to the black community produced a substantial increase in
advertising revenues.
Definition of the Market
While the definition of the market is one of the most important and most difficult parts
of the plan to develop. it should at least indicate the target of your marketing efforts
(see Chapter 8), as well as the trading area served. li must answer questions such as these:
Who buys what and why? What are your customers like? Does the Competition have any
weaknesses you can exploit?