SWOT Analysis

April 5, 2018 | Author: Anonymous | Category: Documents
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SWOT Analysis We have presented the SWOT analysis for radio NUST. This strategic planning method will help us in many ways. It will help us realize are advantages over our competitors and build upon them. Critically recognize weaknesses of our business venture. Exploit our opportunities and plan to counter the external elements that can cause trouble. Strengths:       Internet radio remains profitable and cash flows positively as we are providing a service which is in constant demand amongst general public. We are using reliable machinery, modern network, software and hardware. Once it will be popular then it will be extremely advantageous and lucrative, as low cost is associated with functioning. The whole setup can be done in a miniature location, so rental fee will be low. As it is not a conventional radio station, so entertainment is not just restricted to audio, we can also use photos, videos and live chat box. The website is linked to social networking sites like Face book and Twitter. This increases the visibility of our radio station as everyone visits these websites quite often. The whole process of providing the service is environmental friendly and no racist or illicit content is broadcasted. As this is first of its kind in NUST, so we have created a market niche and being the first entrant can be fruitful for us.   Weaknesses:     We have a high start-up cost comparative to initial return, as high cost of broadcasting equipment. Inadequate familiarity with financial planning. Less initial profit, as you only start getting profit once you introduce advertising into the equation. Only accessible to people with high bandwidth internet connection. Opportunities:   We can spread out to other schools of NUST, and even make it a global thing just like other radio stations. We can relocate easily to new locations like NUST cafeteria this would be really beneficial as RJs who are day scholars or female RJs cannot enter the current premises which is in male hostels. Everyone at NUST has high bandwidth internet connection which supports easy streaming of NUST radio. The whole campus has WIFI facility, which means people can listen to radio NUST even from any handy internet device. We can use broad based marketing campaigns. With the use of remote connection softwares, so RJs can broadcast their shows from anywhere. Talented students at NUST can be a source of locally available skills, and it would be easy to hire additional personals from the university. We can provide online courses to help students; it would be easy to answer their questions through the chat box and providing them useful references over the internet. We can make radio NUST a general radio station, not just for the people of NUST as there are no geographical limitations for the internet radio station. Additional streaming channels could be introduced on the website, so people can have a variety of shows to enjoy.         Threats:   Indirect competitors like FM 89.0 and FM 91.0 are very famous, use rigorous marketing strategies, so they have the power of diverting our listeners. Indirect competitors like the societies and blogs of NUST are much renounced among the Nustians. They have events to entertain the students, so they can also catch our customers. Most of the societies and blogs of NUST have their WebPages, they can diversify and have their own internet radio station and become direct competitors. As internet radio is very easy to set-up is a short time, so there is a potential threat of new entrants.  


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