The first alternative is to do an in depth cost cutting analysis to maximize all possible synergies. The merger made way for many cost saving opportunities; marketing expenditures and programming being two of the greatest options. Before the merger, large sums of money were spent on finding a way to compete with each other. Mainly advertising, but also using resources to get celebrities to join their company. However, as a combined company, Sirius XM now has a stronger position and can allocate that money elsewhere. Possible benefits include improved efficiencies, greater economies of scale and not requiring any reduction in staff or severance payments. On the contrary, possible drawbacks include not being able to increase prices and low threat of suppliers.
A second alternative is a shift in marketing focus towards a new target segment and improved product. A strong and unified market strategy...
... middle of paper ...
...anufacturers to be involved in the engineering process. Moreover, customers would have to buy the new radio set to stream the new content.
Second, Sirius XM should consider forming new strategic partnerships to help appeal to specific markets who have more influence on the broader market. For example, a partnership with Apple would help the company embrace the leading smartphone platform. Sirius XM could expand their offerings and have receivers built in to Apple’s devices. This would be an added value to the Apple product, which could help with brand recognition, and hopefully an increase in sales of subscriptions. However, forming partnerships could also present challenges. Sirius XM has to be careful to choose partners that support the company’s vision and product offerings. Going into any alliance can damage branding and sometimes lead to potential liabilities.
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