Merging regional business news with National Public Radio (NPR)
programming within the Texas region.
The purpose of this disclosure statement is to emphasize key points regarding the content within
this business plan proposal. I am the sole author of this document and have not been
commissioned to create this business plan proposal, nor do I expect compensation in any way.
The contents of the Bloomberg Texas business plan proposal is for the purpose of creating new
business opportunities for the Bloomberg company.
The intent of this document is to improve the visibility and economic reporting of the Texas
region; expand partnerships and business opportunities of the Bloomberg company, and its
subsidiaries; and act as a catalyst for similar projects, specifically expanding global collaboration
of journalism, business opportunities, and partnerships with companies and media organizations
within Texas and the surrounding states. In addition, a local partnership between Bloomberg and
KERA, the local National Public Radio station, will help expand public radio programming.
Some facts and figures within the plan may need validation, as only authorized Bloomberg
personnel have access to company financial and operations information. It’s assumed that the
Bloomberg company can edit the content of this plan and use it as a template for a new
Bloomberg Texas business plan concept.
I have the utmost respect for the Bloomberg company, its mission, and especially the employees.
Bloomberg’s global perspective sets the standard for business and economic reporting. The same
can be said with KERA and NPR. Public television and radio programming provide a unique and
objective look at the world, which enhances thousands of lives each day.
I. EXECUTIVE SUMMARY
The purpose of the Bloomberg Texas business plan proposal is to create a Texas regional
subsidiary of the Bloomberg company, to 1) improve business and economic reporting within the
region (Texas, Louisiana, Arkansas, New Mexico, and Oklahoma); 2) partner with KERA, and
its programming; 3) gain a more in-depth understanding of businesses and economic indicators
within the Texas region; and 4) serve as a catalyst for other projects.
The goals of the plan are as follows: 1) have Bloomberg executives review the plan; 2) create an
exploratory committee to analyze the contents of this plan; and 3) have the committee brief both
Bloomberg and KERA executives on the viability of the Bloomberg Texas concept.
II. COMPANY DESCRIPTION
Bloomberg Texas will be created as a business and economic reporting media organization,
providing news and consultation services to customers in Texas and the surrounding states. The
organization will partner with the existing Dallas/Fort Worth Bloomberg Bureau to evolve
journalism ventures, and expand the role of business and economic reporting, mainly through a
joint venture with KERA, the local National Public Radio (NPR) station.
A. Products and services include:
1. live radio segments, sharing air time with KERA
2. recorded podcasts of business and economic reporting, to include interviews with
CEOs, entrepreneurs, and business schools
3. newsletters that highlight business news in Texas, Arkansas, Louisiana,
New Mexico, and Oklahoma
4. a rewards program that bundles products and services into one package, one for
individual customers, and another for organizations
5. advertising services for businesses, conferences, business schools, and nonprofit
6. business and legal consultation services for both private and public organizations
7. hosting business conferences and workshops
8. involvement in local nonprofit organizations and fundraising events
B. Key partnerships include:
1. combining programming time with KERA, which will allow the sharing of radio
operations costs for both KERA and Bloomberg
2. collaboration with Non-Governmental Organizations (NGOs), media organizations,
business schools, nonprofit organizations, and businesses (advertising and cohosting
conferences and events)
3. expanding Press Corps collaboration
4. daily interactions with KERA journalists
5. the parent Bloomberg company, and its resources
C. Key activities include:
1. regular business and economic reporting of the Texas region, delivered by radio
anchors; business analysts; economists; senior managers in both the public and
private sectors; and special guests
2. regular meetings with KERA to plan and validate alignment of goals and objectives
for both organizations
3. management of rewards programs and advertising
4. business and legal consultation services
5. hosting conferences and events
6. meetings and national events with the parent Bloomberg company
D. Key resources include:
1. access to the global Bloomberg community
2. shared access to NPR resources and programming, through the local KERA
3. the Dallas/Fort Worth Bloomberg Bureau of journalists
4. access to regional media and business organizations
A. Branding. Bloomberg is a brand name known worldwide. The Bloomberg brand name
will be used to establish partnerships in the Texas region. Eventually, these partnerships
will gravitate toward Bloomberg Texas, the new brand of business and economic
reporting within the Texas region.
B. Partnering with KERA. Bloomberg Texas will share resources with KERA, the local
NPR organization. The partnership will allow both organizations to share operations
costs. Working with KERA will increase marketing potential, through events, news
reporting, and fundraising activities for public radio. This will increase the growth
potential of both organizations.
C. Consultation services will be provided in an effort to expand the foothold of the
Bloomberg Texas brand. These consultation services will be provided by professionals
experienced in both public and private industries.
D. In-depth coverage of key business topics, both through journalism and research. This
will include prompt and immediate coverage of business and economic news. Partnering
with KERA will strengthen efforts to get news first, which will enhance the positive
reputation for both KERA and Bloomberg Texas.
E. Providing enhanced business reporting technology will streamline business analysis.
This includes offering real-time data with market and economic analyses as changes take
place. As with the case of Bloomberg TV GO, the Bloomberg Texas organization will
study and create pilot programs that offer new ways of managing business news and data.
F. Hosting regional business conferences will act as a bridge between regional and global
business sectors. These conferences will provide an opportunity for Bloomberg Texas to
market its brand, products, and services. In addition, it will serve to market KERA
programming and functions.
G. Establishing partnerships with local communities. This includes regional leaders,
industry experts, business schools, and media companies. Partnering with the business
community will help market the Bloomberg Texas brand, its products, services, and more
importantly, its reputation. This will help expand KERA’s foothold in the community.
H. Examples of specific strategies will include managing radio time to accumulate listener
participation. Some business reporting (via Bloomberg Texas radio programming) will be
better suited for some time slots, while regular KERA programming will be better suited
for other time slots. This may even occur in a shared time slot for primetime. For
example, at 9am both KERA and Bloomberg Texas journalists could be on the same
program discussing both business and special news. To ensure that goals are aligned,
both organizations will meet regularly to discuss its radio programming performance
IV. BUSINESS MODEL
A. The Bloomberg Texas business concept focuses on these core goals:
1. increase synergies in Texas and the surrounding states by partnering with KERA,
other media organizations, businesses, universities, and nonprofit organizations
2. add depth of business and economic reporting, which builds partnerships between the
Texas region and the global community
3. take advantage of opportunities for long-term regional business growth as the
Dallas/Fort Worth region becomes the third largest metroplex in the United States by
the year 2031(1)
B. Startup operations. In the first year, the Bloomberg Texas organization will conduct
planning in both facility maintenance and operations, spending the core time on planning
for expansion. This includes meeting with facilities and leasing companies to determine
the best possible option for creating, and expanding, the Bloomberg Texas organization.
Bloomberg Texas will also meet regularly with its programming partner KERA to discuss
positioning of time slots for radio programming, sharing of operations costs, and other
management areas. The organization will create a staffing plan, followed with
C. Revenue will include the following:
1. advertising revenue from the Bloomberg Texas radio programming and segments of a
possible television show
2. consultation services
3. subscription revenue from newsletters and a rewards program
D. Customer relationships. A marketing director will be responsible for establishing core
business relationships with regional businesses, NGOs, media, and universities. These
organizations will represent the backbone of Bloomberg Texas stakeholders. As the
company matures, the largest customer population will transition to Bloomberg Texas
listeners and subscribers.
E. Customer segments
1. NGOs. This includes businesses and nonprofit organizations. These stakeholders will
receive consultation services. They will also be included in active radio
2. Universities. Bloomberg Texas will become an important member in marketing
university business programs and educational events. This will be accomplished
throughout active radio programming and hosting special university events.
3. The public. Listeners of Bloomberg Texas radio programming will be potential
subscribers of services, such as newsletters, consultation services, and a rewards
F. Risks, problems and assumptions
1. Risk of marginal support. Challenges may prevent support for the Bloomberg Texas
organization, such as competition with other companies, barriers to entry/growth, and
lack of demand from the customer base. However, through the partnership with
KERA, Bloomberg Texas will be able to capitalize on the brand names of both the
Bloomberg company and KERA (NPR), which will allow easier access to media,
businesses, and consumers (listeners).
2. Competition with radio time. As the DFW and surrounding areas grow, there will
be more competition for radio time, and with it, air time for business shows. In
addition, companies like Sirius/XM may have growth in the DFW area and take
listenership from regular radio programming shows. However, having access to
KERA time slots, and using the brand names of Bloomberg and KERA, will help
reduce this risk.
3. Ratings. Low listenership ratings for radio segments is another risk. The Bloomberg
Texas organization must ensure that high quality business and economic reporting is
provided, and aligned with demand from consumers. A measurement system must be
in place to measure ratings for the Bloomberg Texas organization, to ensure that radio
programming is aligned with consumer demand.
4. Variances in income from consultation services. Consultation services must be
scaled small in the early stages to ensure initial cost outlays are marginal. This will
help reduce losses when there are periods of low customer participation. As these
services mature, and with it the staff, separate marketing plans can be created and
monitored that ensure positive cash flows and growth.
5. Increasing operations costs. As the company matures, it will incur an increase in
operations costs. As with the management of any company, cost controls should be
monitored so that outlays do not stagger out of control. To help mitigate this risk, part
of the proposal calls for sharing radio operations costs with KERA. Doing so will
allow KERA to subsidize its radio operations costs, and will allow Bloomberg Texas
to limit its exposure to hefty licensing fees by leasing radio time from KERA.
6. Legal ramifications. There are known legal risks of radio segments providing false
and/or unprofessional information. To help guard against this risk, the Bloomberg
Texas organization will meet regularly with the parent company, KERA, and the
board of directors, receiving frequent feedback about internal controls and
programming content. In addition, staff will receive regular training on professional
conduct. Data validation controls will also be used to make sure the data being
reported is accurate.
7. Lack of participation for business conferences. Business conference participation
will be challenging in the beginning. A marketing manager will be hired to manage
regional business conferences, taking advantage of the Bloomberg brand name. As
the DFW area grows, more segments of the business community will be amenable to
host national conferences in the DFW area, especially because DFW is, and will
continue to be, one of the most affordable metroplexes in the country, due to the
competitive costs of hotels, transportation, and other related travel costs.
A risk management and internal controls review will be conducted on a quarterly basis
and reported to management and the board. This will give the Bloomberg Texas
organization, and its business partners, more assurances that challenges are being
identified and addressed before they become problems.
V. ORGANIZATION AND MANAGEMENT TEAM
A. Once mature, the Bloomberg Texas organization will be staffed with the following
positions and duty descriptions:
1. Chief Operating Officer
Coordinates and supervises the activities of divisions involved in the performance of
the full realm of activities; ensures development of organizational work plans, short
and long-range schedules, priorities, work assignments, and position structures to
effectively, efficiently, and economically carry out the mission; conducts research and
develops a repository of contacts, studies, observations, and other critical reviews and
analysis pertinent to modernization; demonstrates critical and creative thinking and
alternative perspectives during the development of concepts, requirements, and
conduct of experiments through independent and unbiased critical analysis to identify
potential weaknesses, vulnerabilities, gaps, and disconnects, and to challenge
assumptions, hypotheses, and premises; and analyzes and interprets broad directives
by higher authorities for the management of the organizational programs.
2. Marketing Director
Collaborates with managers to develop short-range and long-range outreach goals;
develops and executes marketing strategies and outreach events; develops surveys
and collects data for business cases and assessments; using performance metrics and
analytics, conducts continuous assessments of marketing and advertising programs;
and evaluates the Return-On-Investment (ROI) for various marketing activities.
3. Customer Service Manager
Identifies systemic problems, and studies, analyzes, and evaluates the needs of
customers; develops specific solutions to meet those needs; coordinates with others to
ensure requirements, products, and services are easily obtained, meet customers’
needs, and that short-term problems are quickly resolved; initiates or recommends
corrective actions for quality issues and negative customer satisfaction survey
feedback; develops new promotional materials for customers, including fact sheets,
brochures, booklets, web applications, and other documents, that increase
communication with the organizations’s target audience; and conducts workshops
about customer service goals and objectives.
4. Public Affairs Director
Provides sound guidance and strategic recommendations for public affairs issues that
may require constant situational awareness; develops and monitors internal controls
with the interpretation and dissemination of information within and outside the
organization; work involves responding to national media, the public, and political
opinion for matters that may involve politically sensitive and highly volatile issues;
works with the Marketing Director to showcase the company’s capabilities, to attract
potential collaborators for business projects; evaluates the effectiveness of branding
efforts, designed to improve the company’s image; and works with counterparts at the
headquarters office to ensure policies and responses are aligned with the parent
5. Legal Counsel
Responsible for providing accurate legal analysis and advice regarding highly
complex and difficult legal issues arising in areas of media and operational
management; conducts research, analyzes findings, and applies pertinent statutes,
judicial decisions, administrative regulations, and agreements, as well as original
legal reasoning. The incumbent also independently coordinates legal issues with the
organization and serves on various ad hoc working groups; analyzes and advises on
legal implications of possible highly volatile and extremely detailed provisions of
organizational programs; and provides internal and external clients with accurate
legal advice and sound, innovative business solutions in support of core missions.
6. Office Manager
Plans, analyzes, and executes actions involving the direction and control of
administrative functions; responsible for managing the operational schedule of the
Executive Office; researches and coordinates with staff elements in order to prepare
for executive level travel, major events, social activities, and speaking engagements;
participates in the planning, development, assembly, and analysis of documentation
required for special studies and reports, and/or one-time projects; tasks specific staff
and organizational elements responsible for researching, developing, and preparing
documents, speeches, position papers, and briefings for the COO’s use in meetings,
briefings, and social functions; and maintains a direct link with the headquarters
7. Other positions
a. three journalists who rotate throughout radio segments
b. a Bureau Chief, who will act as both a Bureau Chief and Communications
c. a radio programmer
d. an analytics professional
e. existing Dallas/Fort Worth area Bloomberg staff
8. Contracted positions and services
Bloomberg Texas will hire an outside auditing firm to audit records, financial
activities, and compliance with media standards, to include any Federal
Communication Commission rules.
B. The management team for the newly created Bloomberg Texas organization will evolve
in two separate phases. A summarized plan is indicated below.
1. Phase 1 (first year)
A Chief Operating Officer (COO) will be selected to serve as the Bloomberg Texas
project manager, to ensure the new organization is staffed and integrated in regular
Bloomberg operations. Eventually, the COO will assume regular operational duties,
acting as a bridge between existing Bloomberg area reporting operations, and the new
Bloomberg Texas concept, to include beginning a new partnership between KERA
and Bloomberg Texas. An Office Manager will serve to facilitate administrative
functions and help the COO navigate a formal startup of operations.
2. Phase 2 (second year)
In year two, the Bloomberg Texas organization will be fully operational, and will
include the following personnel:
Three new journalists. These individuals will manage the radio and television
operations, interview business leaders in the Texas region, and serve as a conduit for
partnerships and advertising services. These journalists will conduct interviews with
CEOs; economists who validate and forecast economic data for the Texas region;
business analysts who discuss trends; business schools; and nonprofit organizations.
The Public Affairs Director will serve as the main point of contact for stakeholders
outside the Bloomberg Texas organization and will assist the Marketing Director with
validating the public release of information.
A part-time contractor will serve as Legal Counsel for any legal affairs issues and
report directly to the parent company. This individual may also serve to manage
Bloomberg Texas legal consultation services.
A Marketing Director will implement marketing plans, sales targets, and meetings
with advertisers and stakeholders. In addition, the incumbent will perform detailed
analysis of marketing controls used to accomplish organizational goals.
VI. MARKETING PLAN
A. Executive Summary
Bloomberg Texas will be a subsidiary of the parent Bloomberg company. It represents a
new organization that will provide news coverage, advertising, and consultation services
in the Texas region. The unique feature of the organization is the new partnership
between the local NPR radio station (KERA) and the Bloomberg company.
The marketing analysis below will depict various forces affecting the entrance of the
organization to the radio broadcast industry, as well as the organization’s long-term
success. An evaluation of the organization’s strengths, weaknesses, opportunities, and
threats will serve as the foundation of the marketing plan. The plan concentrates on
various marketing objectives, activities, and positioning strategies to attract and retain a
large customer base, both for advertising accounts and radio program listenership. New
business alliances and customer-centric activities will be the key to success in achieving
the organization’s marketing goals.
B. Market Analysis
1. Competitive forces
The competition in the radio and television industry is strong, with significant barriers to
entry. Currently, there are several companies that operate radio stations in the Dallas/Fort
Worth area. However, very few business radio programs make a direct link between the
Texas region and the global business environment. But there are various podcasts
available for listeners, via YouTube and direct websites. In addition, satellite radio offers
a few business programs for listeners.
2. Economic forces
Listenership and advertising revenue continues to be a challenge for radio stations.
Trends indicate risks with company budgets. These challenges can certainly be complex
in times of higher unemployment, such as with companies allocating less money on
advertising, or listeners spending less time with subscribing to podcasts, or using the
3. Political forces
There are no expected outside political influences that could affect the operations of the
Bloomberg Texas subsidiary. Journalism, specifically covering business and economic
news, is known to be an accepted practice across the nation and rarely includes any
controversial issues that tie directly with the reporting entity, in this case the Bloomberg
company and KERA. However, organizational politics may be a factor when buy-in is
needed for evolving operations between Bloomberg Texas and its stakeholders.
4. Legal and regulatory forces
There are significant legal and regulatory forces involved with the creation of a radio
station and its programming, such as payments to the Federal Communications
Commission for licensing fees. The Bloomberg Texas organization will have an
advantage because of the parent company’s exposure to these types of regulatory
controls, and KERA’s exposure in the local area. If the Bloomberg Texas concept is
adopted, a study would be in order to identify specific legal and regulatory challenges
that will directly impact the Bloomberg Texas organization. Forming a partnership with
KERA will enable both Bloomberg Texas and KERA to share the burden of legal and
regulatory challenges, and expenses.
5. Technological forces
Digitization, compatibility with local and national radio platforms, and Information
Technology (IT) software are significant challenges to create, and maintain, a radio
broadcast. A broadcast engineer and IT specialist will be included in any planning stage
to ensure all technological challenges are addressed and resolved. A regular review of
these technological forces should be conducted as part of the Bloomberg Texas
operations plan, and its risk management plan.
6. Sociocultural forces
In today’s society, consumers spend less days commuting to work because of the
evolution of telework programs. When employees do report to the office commuting time
can be considerable, especially in the large cities. Radio is still widely used during the
commute time, and at the office. An on-demand feature has been popular, where
consumers can select and play their favorite shows at their own convenience. Podcasts
have typically filled the need. But more research is needed to determine if YouTube and
other media platforms will enhance the podcast experience for Bloomberg Texas radio
programming. With comprehensive strategic planning, the Bloomberg Texas and KERA
organizations can stay abreast of sociocultural changes, and incorporate those changes
into radio operations and strategic planning.
C. SWOT Analysis
a. The Bloomberg brand is known globally for its worldwide coverage of business,
economic, and geopolitical issues. The Bloomberg company has a television program,
radio shows, and a weekly magazine. This media dominance can help the Bloomberg
Texas organization thrive in the Texas region.
b. Bloomberg’s diverse portfolio, to include media, consultation services, and
subscription services, can serve as a model for the Bloomberg Texas organization.
c. Bloomberg has an existing DFW bureau of journalists. In addition, there are shared
media resources in the Texas region.
a. Despite a large potential customer base, the Texas region has very few permanent
business radio programs. These types of programs are usually presented as special
segments for regular programming. This may reflect the actual demand for business
b. There are barriers to entry of new radio shows. This includes startup funding,
payment of licensing fees, regulatory controls, and competition from other radio
c. A lengthy time period may be required to market a new radio show, and achieve
long-term increases in listenership.
a. The Dallas/Fort Worth area is one of the largest metroplexes in the United States. It
is projected to become the third largest in the nation within a few decades, or sooner.
This will increase the potential customer base of the Bloomberg Texas organization,
and its future partner, KERA.
b. The introduction of new business radio shows should increase the potential growth
of advertising accounts from businesses, business schools, and publications.
c. KERA and NPR have a reputation of objective and creative journalism that can’t be
found in other venues. A partnership with KERA will help the Bloomberg Texas
organization create its own brand and reputation of objective and creative business
and economic reporting in the Texas region.
d. There will be opportunities to advertise the new Bloomberg Texas and KERA
partnership on a global scale. It will be possible to create additional partnerships with
other media companies, such as Netflix, to offer segments of Bloomberg Texas
business interviews, filmed while in the radio studio. This will enable several
countries to enjoy these business segments. In addition, the parent Bloomberg
company can advertise Bloomberg Texas and KERA radio programming during
national Bloomberg television programming and regional radio programs in New
York City and San Francisco.
e. The organization can reduce startup costs by leasing radio time from KERA.
f. By partnering with Bloomberg Texas, KERA will have another business entity to
help market its programming and fundraising efforts. The new Bloomberg Texas
organization can act as a bridge between KERA’s regional fundraising efforts and a
national NPR fundraising campaign.
a. Large media companies can potentially buy up existing segments of radio networks,
further diminishing opportunities to implement full-time Bloomberg Texas radio
b. Public transportation projects, like the future bullet train construction project
between Dallas and Houston, can limit access to radio for patrons. Regular radio
programming is not practical in these environments, unless the train service includes
access to Wi-Fi. In this case, the radio station would have to make available a live
radio broadcast online. If this comes into play, this threat may turn out to be an
opportunity to advertise Bloomberg services within the public transportation domain.
D. Marketing Objectives
Year 1: Revenue from advertising, consultation services, and subscriptions will cover
most of the basic startup operating expenses.
Year 2: 50% revenue growth. A full year of operations, and process improvements, will
lead to better marketing opportunities. In year 2, the organization will expand its
subscription and consultation services. The revenue generated from this growth should be
enough to cover the remaining startup expenses, such as furniture, equipment, and office
Year 3: With the introduction of a Bloomberg Texas regional business conference, more
advertising dollars will be spent by companies. Registration fees will be collected. In
addition, the evolution of the subscription and consultation services (and a rewards
program) will allow the company to increase revenue by 50%, or more.
E. Selling Proposition
The Bloomberg Texas organization will promote business news and consultation services
within the Texas region, an area that includes all of Texas, Louisiana, Arkansas, New
Mexico, and Oklahoma. The following slogans are options to help promote the
Bloomberg Texas brand.
Bloomberg Texas, where regional businesses meet the global community
Bloomberg Texas, where the Texas corridor makes an impact on the global community
Bloomberg Texas, showcasing the impact of the Texas region in the global community
F. Pricing and Positioning Strategy
Disclosure statement: The figures below do not reflect actual Bloomberg revenue. This
merely represents an example for the purpose of demonstrating a business plan.
Bloomberg Texas will help promote all Bloomberg products worldwide, but will
concentrate its efforts on the following:
1. radio advertisements, which include both local and national businesses
$100 per 15 second announcement for local businesses
$200 per 15 second announcement for national businesses
$0 per 15 second announcement for nonprofit organizations, and Native
2. regional consultation services (first hour free)
$100 per hour for legal and business consultation services
* discounts for veterans, minority-owned businesses, national tribes, and nonprofit
** prices will increase 10% every year, or when demand supports changing the
pricing structure, whichever comes first.
3. A $12 yearly subscription fee for monthly newsletters. This includes special rates on
Bloomberg products, through both a Bloomberg and KERA/NPR rewards program.
4. A special Bloomberg Texas rewards program ($25 per year) will help promote
Bloomberg Texas and KERA services. As part of a long-term project, the
organization may introduce a credit card that adds unique features like gifts, and
special access to business conferences (e.g., having rewards program members cohost
interviews with special guests).
The key here is not to create a pricing strategy that matches competition, but to create one
that provides value for all customers-individuals, organizations, and Bloomberg
G. Distribution Plan
Payments will be collected online. This includes subscriptions, advertising services,
consultation services, and registration fees for conferences. Concentrating all payments to
an online cloud platform will streamline payments and accounting processes.
H. Marketing offers
1. Free three month trial to the monthly Bloomberg Texas package. This includes
newsletters, key updates, rewards, and a quarterly drawing to visit the Bloomberg
Texas radio program in person.
2. Free one hour business consultation services. This will include an overview of
various consultation services offered.
3. Weekends-free advertising (7 days of advertising for the price of 5). This gets
businesses access to customers all week, without paying extra for weekends. This
helps businesses get exposure to weekend-only listeners.
I. Marketing resources and materials
1. online advertising and announcements
2. NPR advertisements (programming sponsored by Bloomberg Texas)
3. Bloomberg Texas rewards program services
4. promotional handouts for business conferences and special meetings
5. signature coffee cups with the Bloomberg Texas brand name
*Bloomberg Texas will establish a partnership with Starbucks to showcase Bloomberg
Texas coffee cups at Starbucks stores.
J. Product promotion
Bloomberg Texas will reach new customers by advertising its services through the
• Bloomberg Texas radio programming
• media outlets through the parent Bloomberg company, such as regular Bloomberg
television programming, the Bloomberg Business Week magazine, and radio shows
in New York City and San Francisco
• NPR programming
• company websites
• Bloomberg Texas rewards program
• financial newspapers and magazines
• business conferences
• special segments with other media companies, such as Netflix
• Bloomberg Texas signature coffee cups, available at Starbucks
K. Marketing strategies for target markets
Market #1 – Core listening audience
This market includes business analysts, economists, senior managers, entrepreneurs,
business schools, and personal investors. Providing comprehensive and timely coverage
of general business and economic news will capture the attention of the core listening
Market #2 – Business Industry Associations
The Chamber of Commerce, and similar organizations, will be included in any event
planning, such as business conferences hosted by Bloomberg Texas and KERA. This will
encourage these organizations to participate in any partnerships created at conferences
and similar events, adding further value to Bloomberg Texas and KERA ventures.
Market #3 – Government Agencies
The Department of Labor, Small Business Administration, and Federal Reserve will be
included in news segments. Senior government managers will be interviewed to 1) clarify
facts, 2) add depth to covered topics and 3) establish long-term professional relationships
with those agencies.
Market #4 – Startups/Young Entrepreneurs
News segments will include coverage of Startup companies that are making headway in
the Texas region. This will spark interest and encourage employees of other Startup
companies to engage with Bloomberg Texas content.
Market #5 – Military Veterans and Minority-Owned Businesses
Discounts will be provided for military veterans, minority-owned businesses, and Native
Americans/tribes. This will give these populations an incentive to utilize the Bloomberg
Texas services, and to listen to daily news coverage.
L. Online strategy
The online marketing strategy will consist of five distinct activities:
1. Search engine optimization. Each document, and reference, that gets posted on the
Bloomberg Texas website will have strategic hashtags added. This will increase
visibility and maximize the ease of searching for content. For example, “Bloomberg
Texas” will be used as a strategic hashtag.
2. Daily website updates will intensify search engine algorithms. This includes adding
documents, news articles, and advertising. This will increase visibility in media sites,
search engines, blog site listings, and other social media platforms.
3. Online advertising will include separate hyperlinks that will take consumers to
special programs and offers, such as the Bloomberg Texas rewards program and
upcoming business conferences.
4. A social media strategic plan will be created to ensure Bloomberg Texas and KERA
programs are actively connected and shared in social media platforms. This includes
LinkedIn, Facebook, Twitter, and mainstream websites. A web designer will be hired
to create an informative and easy-to-use website to increase visibility and
collaboration of Bloomberg Texas and KERA programs.
5. Bloomberg Texas employees will be encouraged to have their own social media
sites. Each employee can showcase their specialty and their own journalism
segments. This will further increase visibility of the Bloomberg Texas and KERA
brands. The company web designer will be available to assist employees with the
development of their social media sites.
M. Conversion strategy
Bloomberg Texas will employ an initial customer survey to gauge the satisfaction of
products and services received. This will ensure the company has some visibility of
customer needs up front, which can assist with turning prospective customers into paying
A customer testimonials page will be featured to advertise customer satisfaction. This
will help instill confidence with prospective customers, knowing that Bloomberg Texas
can provide valuable services.
Follow-up notifications are important with customer service. After services have been
rendered, especially with consultation services, Bloomberg Texas will send a thank you
notice to thank customers for their patronage, and it will serve as a reminder to consider
using Bloomberg Texas services in the future. This will help with brand loyalty.
To supplement the information derived from surveys, individuals will be solicited to
participate in focus groups. In return for feedback, participants will get a tour of the
facility, receive lunch, meet with radio personalities, and get a year-long subscription to
Bloomberg Texas products and services. To add flexibility, some focus groups can be
facilitated on Saturdays so that people won’t have to take off work to participate.
Partnerships will include:
1. daily activities with KERA, through regular radio programming
2. news segments on regional business schools, to serve as a bridge between the schools
and the global community
3. creating a new national business conference, in which global organizations are invited
to the Texas region to collaborate on business and economic topics
4. hosting regional business conferences
5. news coverage and sponsorship for nonprofit organizations
6. activities with the parent company, to include flying in guests from the New York and
London Headquarters offices
7. creating workshops at local high schools, to get teenagers interested in business and
8. supporting intern programs with regional business and journalism schools
9. participation in public radio events
10. showcasing Bloomberg Texas activities with large global media companies, like
Netflix, Amazon, and Disney
O. Competitive pricing
When offering products and services to consumers, it’s important to consider a good
initial price, while maximizing the value to customers.
Initial offers will be competitive. Examples are listed below.
1. Newsletters will be offered at an introductory price of $12 per year. This will include
a monthly newsletter, podcasts, and special reports.
2. Consultation services will be free for the 1st
hour, then $100 per hour thereafter.
Special discounts will be applied to services rendered for veterans, minority-owned
businesses, Native Americans/tribes, and nonprofit organizations.
3. A rewards program will be offered for $25 per year and will include the following:
newsletter subscription, a signature Bloomberg Texas coffee cup, and special offers.
This includes a 25% discount on registration fees for business conferences. This
rewards program will be unique and unmatched by others in the Texas region. This
will be a long-term program, and may include additional products and services as
operational revenue increases.
P. Retaining existing customers
The rewards program will be used to facilitate long-term purchases from existing
customers, through the creation of a loyalty program. All customers will receive the
following incremental discounts for rewards program loyalty:
1. 5% discount for every 5 years of patronage, in addition to a $25 gift card
2. half-price subscription to Bloomberg Magazine
3. seven day-a-week advertising on Bloomberg Texas radio for the price of 5 days
4. a monthly raffle to include sitting in the radio station during live programming, and
signature Bloomberg Texas coffee cups
Q. Financial performance standards
The initial success of Bloomberg Texas will depend on a partnership between the parent
company and KERA. This includes an initial outlay of funding from the parent company.
Once the Bloomberg Texas organization is operating it will manage the following
financial performance metrics. These metrics will facilitate financial projections and
performance with marketing and radio programming operations.
Year Listener Base
= 50% of Total
# of Events/Year = 6
Year 2 Base Year + 50% Base Year + 50%
= 110% of Total
# of Events/Year = 12
Year 3 Year 2 + 50% Year 2 + 50%
= Year 2 Revenue
# of Events/Year = 18
* Events are regarded as activities outside of regular programming that creates awareness
of the Bloomberg Texas brand, and services. Examples include hosting business
conferences, participation in KERA fundraising events, and live radio shows at business
R. Monitoring procedures
The Marketing Director will ensure company activities are aligned with the marketing
plan. A Balanced Scorecard will be used to brief the executive staff, to include the
Bureau Chief and COO. Each month, the organization will conduct a performance
metrics review. Key areas, such as those depicted in the table on page 20, will be
analyzed on a monthly basis to determine success. Short-term strategies will be created to
address deficiencies with metrics. An analytics professional will be used to research,
validate, and present all data sets for each metric. Random reviews of these data sets will
be conducted to determine data integrity.
VII. OPERATIONAL PLAN
A. The information below depicts a multi-month schedule of activities that will be
implemented for the new Bloomberg Texas organization.
• meet with Bloomberg and NPR managers and key resource advisors from the parent
• validate facts and figures within the Bloomberg Texas business proposal
• create a matrix of key contacts and resources
• finalize an official business plan
• Present plan to senior Bloomberg and NPR executives. If approved, move forward
with activities within the operating plan.
• Schedule a meeting with Bloomberg and NPR personnel in the Texas region. The
meeting will cover details about the new organization, and will give existing staff a
chance to ask questions, and validate information.
• draft a list of implementation activities, aligned to the operational plan
• Schedule follow-up meetings with staff and regional stakeholders. This will include
KERA and NPR (to establish the new partnership), and legal entities.
• document the meeting minutes
• Create a list of concerns and challenges. This will be used as a basis for follow-up
meetings with regional staff.
• provide a status update to the parent companies
• meet with local facility personnel to discuss expanding office space
• Draft a facility proposal and present to senior management for approval. This
proposal will include a listing of stakeholders, cost analysis of moving/construction,
and an implementation plan for moving personnel and resources.
• secure funding for hiring new personnel
• begin the recruitment process for key positions
• collaborate with existing managers on establishing new roles and responsibilities
• create position descriptions
• create onboarding packets for new personnel
• hire and train additional personnel
• test daily administrative and radio programming activities
• implement a full scale operational exercise
• meet with employees to conduct an After Action Review (AAR)
• based on the feedback from the AAR, modify operational activities to support the
1) daily radio show
2) website, with real-time regional and national economic indicators
3) daily podcasts that combine items 1 and 2 above, to include special features and
4) monthly newsletters sent to subscribers
• conduct another AAR
• create an AAR report for senior executives
• begin monthly performance metrics review with staff
• draft a schedule of regional business conferences
• create a strategy to present material at these conferences
B. Long-Term Operational Activities
Interviews with CEOs
Part of the radio programming will include interviews with CEOs. They will feature the
heads of regional small and mid-size companies, as well as CEOs of large global
companies headquartered in the Texas region. This includes a business perspective of
how the companies interact with the global business environment. Summaries of these
interviews will be available on podcast. Transcripts from these interviews will be
included in monthly newsletters, only available to newsletter subscribers.
Regional politicians in Texas and the surrounding states will be interviewed to get a full
understanding of legislative actions that affect regional businesses and economies. This
will include news coverage of legislation that affects the labor market, taxation of
businesses, and restrictions on interstate and global commerce.
Interviews with regional business schools
Monthly shows will also include interviews with regional business schools. These
interviews will aim to get a thorough operational perspective of the school, to enhance
understanding of university business operations and how the school interacts with the
local communities. Topics covered will include:
• how the schools interact with businesses
• companies that are hiring graduates
• innovations in business education
• subjects that are taught
• new teaching methods
• university operations
• methods used to select professors
• intern programs
Bloomberg Texas will take a look at various industries from a business aspect, such as
the music industry. For example, what does it take to bring a concert to the Texas region,
to include scheduling, tickets sales, operations, cleanups, and revenue generation? Other
features can highlight what it takes to make a Startup successful, to include interviewing
founders of local Startups. These segments will be aired over the weekend, along with
KERA special programming.
Special philanthropy section
Each month, the Bloomberg Texas radio show will interview a nonprofit organization,
and a well-known philanthropist. Topics in these interviews will include:
• making the best use of each dollar donated
• organizations that are making headways for social change
• the career outlook in nonprofit organizations
• how nonprofit organizations interact directly with regional businesses
• opportunities to create partnerships with nonprofit organizations
Business conference development is another investment opportunity for this plan.
Bloomberg Texas can begin this venture by co-sponsoring a small regional conference.
This will allow the creation of micro partnerships with regional companies, universities,
and nonprofit organizations. As the conferences evolve, Bloomberg Texas will take a
more active role with advertising Bloomberg services, magazine subscriptions, the cable
TV channel, and TV Go. Booths will be placed at the conferences so that consumers can
watch a live radio broadcast nearby with celebrity reporters. Conference participants can
interact with special guests.
Conference agendas will include interviews with key leaders; how IT infrastructure
affects businesses; how small businesses can use economic indicators to improve
forecasting; business planning/strategy; breakout sessions for Startups for veterans and
minorities; and Bloomberg consultation services onsite.
VIII. FINANCIAL PLAN
A. Revenue streams
Revenue will include the following:
1. Advertising revenue from Bloomberg Texas radio programming. The Marketing
Director will set up advertising accounts with businesses to help launch the first radio
broadcast. The goal is to advertise 10 businesses in the first week of broadcast, and
multiply those accounts by 50% each month for the first two quarters until a weekly
quota of 50 advertisements is achieved. The fee for each 15 second advertising
announcement will be $100 for local businesses and $200 for national businesses.
2. Consultation services will begin simultaneously with the setup of the new advertising
accounts. The Marketing Director will look for new customers for these services,
especially in the beginning stages of the Bloomberg Texas organization. The goal is
to find 20 customers (20 billable hours) before the first radio broadcast, and then
increase the billable hours by 30% each month for the first year. The first hour of
consultation is free, then $100 per hour thereafter.
3. Subscription revenue from newsletters will be collected approximately one month
after the first radio broadcast. Time will be needed to develop content for these
newsletters. The goal is to have 100 subscriptions to these newsletters during the first
month of radio broadcast, then increase that number by 50% every month for the first
year. The Bloomberg Texas website will be seen by, and marketed to, the global
community. Subscribers will include paying customers outside the Texas region. A
yearly newsletter subscription will be $12.
4. A rewards program will be available for $25 per year. However, the organization may
not see a significant revenue stream from this program in the first year. For now, the
financial projections for the rewards program will be left out.
The following pricing matrix will be used for different customer segments:
• companies/large organizations Full price
• Startups 10% discount
• military veterans and minority-owned businesses 25% discount
• nonprofit organizations and Native Americans/tribes Free
B. Cost structure
During the first year, the bulk of the operations costs will be as follows:
Salaries/benefits for 10 personnel $1,000,000
Office space/leasing costs/utilities $ 100,000
These expenses will be prorated at a monthly cost of $92,000
C. Financial projections
The chart below depicts a financial projection for year 1 revenue, based on the figures
presented in section A on the previous page. Revenue for future years is expected to
increase. A break-even point will be achieved NLT the end of year 2. Starting in year 3, a
net profit will be achieved, at which time the company can begin expanding operations,
to include the introduction of new programs and hiring more personnel for future growth.
QTR 1 QTR 2 QTR 3 QTR 4 TOTAL
Year 1 Revenue
ADVERTISING CONSULTATION SUBSCRIPTIONS
VIV. APPENDIX - FOOTNOTES
Footnotes from page 5 (3rd
1 The Texas Tribune. “Dallas-Fort Worth metro area saw biggest population growth in Texas in
2018” www.texastribune.org. The Texas Tribune, 18 April 2019. Web.
1 The Dallas News. “When will D-FW overtake Chicago to become the nation’s 3rd
area?” www.dallasnews.com. The Dallas News, March 2018. Web.