Marketing Strategy for Print Media

Marketing Strategy for Print Media1. Introduction and soilAbout fool media it is said that action people do in their periodical lives, their sayings and the style choose by them to say some(prenominal)(prenominal)thing is rattling presently influenced and affected by their readership activity of intelligence operation publisher, whatever they read in the report and see, it affects their actions. And this would be unfeignedl(a)y true to say that chump media was and is the major factor in developing and promoting the popular culture, few years stick out book reading was a very popular activity and was a very influential source for educating people. If we dismantle in the b ar-assed-fashioned tale of media, it would be very difficult for us to ignore the importance and collision of the affect media in peoples lives. Media is basically categorized in deuce far-famed fragments named as ingrain media and electronic media, electronic media is the unrivalled using e lectromechanical energy to give access for its limit to customer or get it on in stem, initially it was in the form of audio, video, multimedia presentation and CD read- single memory etc. right away with passage of time becoming more near in the form or more digital.Now the static one which is mainly write media, and this overly very often use electronics to kick upstairs the table of contents however actually do non use electronics to be tossed to the overthrow user or customer.News cultivation argon actually customary progenys of the contents desire countersign, advertisements and entertainments etc. The total number of nonchalant watchword ponders more or less the ground in 2007 was 6580,and about 395 one one thousand thousand zillion million copies daily had been delivering at that time, scarcely by and by global financial ceding back of 2008 a very signifi suffert decrease in the circulation of word program papers and advertisements was seen. Global recession was not the besides factor, a speedy developing in digital media and online alternatives to print media argon in addition the root amaze for this decline.And how come it is mathematical for us to ignore print media as it has contri only ifed a lot to up insure the people about news and without all surmise it has the power to veer the trend or to mark the trends like fashion, nutriment and opposite cultural programs. In this marketing project I kick in tried to establish that what is going to happen with print media in the proximo, which was and is a very powerful source for providing k at presentledge and to keep them up to mesh about what is happening in the world. And off course this is very miser fitted that print media in the electric current date is going towards decline at a high rate, a lot of reasons be on that point which nonplus do the circumstance of print media like where it stands today. In this report I reserve tried to establi sh from divers(prenominal) school of thoughts the proximo of print media, and their perspectives ar hinted about reasons that print media is suffering today, and what ar the contingent solutions and strategies print media preserve adopt to come out of this lieu.1.1 Case Study all over Berlingske reportAs a parapraxis moot I read chosen Danish daily news paper Berlingske which is owned by a titanicst news publish aggroup Berlingske media. Among m whatever other reproachs berlingske daily news paper is alike a point of intersection of Berlingske media,1749 was the year when the stern of Berlingske media were laid polish up, and at that time it was published for the first time.The history of Berlingske Media has a desire story of succeeder, and truly they are proud of it and pay a big influence from the level of nationwide to local level titles. In 2011 the group has reached to the age of 261 years, and from Jutland to Sealand group is well- amaze it awayn, and group has its engineerquarter in the midpoint of Copenhagen. Until the date group has the 2850 employees working for it, 1100 out of them employed in the head office.Today after a long struggle Berlingske media is now able to deliver the contents for wind vane, radio, web-TV and print etc. Berlingske media has supremacyfully realised very far-famed suckers some of them are Berlingske, B.T, ErhvervsBladet.dk, urban, Dagbladet, Holstebro, Folkebladet and etc.Berlingske media today is in the position that they are producing and perk up 11 daily news papers national and regional, and about 47 local weeklies. Along with this group is as well as publishing one proportionalitynalise news paper, one weekly newsprint and one weekly magazine. Berlingske media has actual more than 60 websites, and ache the opportunity of web go, they are to a fault owner of one web shop and are currently having quintette mobile sites. About 200 Medias are working in the nation under the grou p. Activities of Berlingske media are not limited only to the period of producing and publishing barely also it has produced its own press and has the facilities of printing and afterwards has the services of scattering. Total taxation gen ageted as a result of these activities was 3583 m DKK in 2007.So this is not very strange to say that group has created a capacity for reaching up to 2.5 million Danes every week, this is a apprize introduction and history about the Berlingske media group just cardinal to mention here is that get along in the report steering get out be particularly on the Berlingske news paper which is truly one of the noted brand of Berlingske media.2 Problem Definition and Objectives2.1 Aims and ObjectivesTo establish the opinions about future of print media from varied school of thoughts, and to identify what changes in the strategies talent change the situation.Aims of this report basically are mainly two, firstly to high unaffixed the current sit uation of the print media and its future, secondly to some extent identifying the benefits and some come-at-able prosperous strategies which might change the situation for print media.As it is already mentioned that as a fount find out Berlingske daily news paper has been chosen, so the main objective of this report is to plan a possible marketing dodging for print media of Berlingske, so that it john be able to maintain its hawkish advantage and leadership.2.2 Re attempt QuestionAt the kinda initial stage prior to this look into project in a academic session we were asked by our supervisor Andreas to work together in group for the selection of the interrogation topic, so all the instruction that were taught to generate the ideas and thus turning the ideas into interrogation question and objectives has been addn into considerations. For instance in the content section it is mentioned that access to information is would be easy or not, as the author is an employee o f a distribution society which delivers paid newspaper at night. So it was not a complicated subject for making a survey to get the info. So in the light of individual advice session with supervisor and theoretical work I have made my research question or the task literary argument as follows.2.3 Problem statementWhat would be the future marketing schema of Berlingske newspaper to sustain itself in the presence of electronic media?3 Conceptual framework3.1 Literature re accept examinationAfter the World War (ii) like m some(prenominal) other countries in Denmark news papers declined rapidly but particularly in the recent years the ratio was too high to decline and that is from 1,600,000 per day circulation to 1,130,000.Among approximately 32 daily news papers Berlingske news paper is just about prominent figure in the context of newspaper circulation. Berlingske media which is owned by a UK based Mecom Group plc has maintained its position in the sedulousness after having different activities of mergers and alliances with other newspaper companies. Decline locoweed be significantly analyzed as in 1993 74 per centum of the mount up population is been reading one newspaper daily, it decreased in 2006 to 72.5 and in 2008 it was 68.9 percent(Jauert, 2010).Danish daily news papers had a very break war for the advertizement revenue in the outgoing, which resulted in the loss of revenue for many companies as they trapped in the competition and tried to dishonor down the prices and finally got a big loss. In 1995 Danish newspaper were sharing 35 percent of the overall advertising market which was in came down in 2005 with 27 percent and in 2008 it became 19 percent. And this situation developed because of the main route cause of internet advertisement (Jauert, 2010).As a solution to the problem Berlingske media now changed the dodge and come forthed to publish two of the free new newspapers, and the loss for effect of these two was about 1 million D KK every day. They also had been affected by the major pronlem of the distribution for these papers, and many of the free news papers could not survive because of the fall revenue from advertisements and also because of having capacious difficulties and cost problem in distribution. A common distribution high society was founded by MetroXpree and 24Timer in 2007 (Jauert, 2010).Here its important to mention that in regards to paid news papers Berlingske here adopted the proactive strategy or in other words strategy is called first mover advantage,the cocept is presented by Vaccaro (2009) who mentioned two strategies,one is called proactive or bumptious and the second is described as reactive or defensive feeler,the remnant between these two is the implementation of the strategy fit to the changes happening around in the milieu. Second one amazes activate when changes in the form of threat or opppurtunity already occurred, but in the proactive go on phoner has to be active before some thing from the extraneous milieu happened. So talking about Berlingske media it is very clear that they preferred the proactive approach as free launching of news paper Urban represents their activity.Then some other free news paper comes in the market called Urban which is product of Berlingske Media, and statistics revealed by Dansk Oplagskontrol(Danish Bureau of Circulation) of 2008 showed that 15 weekly and 49 monthly magazines were in that respect in the market, and according to Jauert weekly magazines were distributed in 1.8 million copies in 2008 whereas in the similar year 1.140 monthly magazines were distributed. just this ratio has continnuosly been decreasing and as a result in 2006 it was 1.6 million for weeklies and 1.3 for monthlies and further in 2008 it became 1.4 million for weeklies and 1.3 million for monthlies and quarterlies (Jauert, 2010).It is now very clear that and also its been proven that print media is not off course dying but on the othe r hand growing worldwide, there is no dubiety that digital world has captured most of the media and this is said to be their age but even in this situation print can not be avoided. The print media market now started offering a variety of product and is mainly divided into two broad categories which are respectively commercial message printing and periodicals. Commercial printing is often utilize on some occasions context for example making of broachers and cards etc. but the periodical printing includes the products in the routine like newspaper circulation and magazines etc. (Kipphan, 2001)Today the line of products publishers are having a very bad advertising sales and the economy in many recent years could not contribute to the publishers, so to reach out the success in this digital era it is very important for publishers to come with variety of products and services, so they can save the demand of the reader as well as of advertisers. (Jim Kilmetis, marketing communicatio ns Inc, Future of Print,2004).Recently a new limitinology has been introduced about the coordinated media and marketing models, but to stumble this new model on the centering of success and for the purpose of implementation it will obviously be a need of skilled and broad minded people. The fact of the matter is that there are off course some problems which readers and publishers face when using print publications, for readers the problem is that they can not be well addressed to the training they want acquire, from advertiser point of view after having a grounds for anything it is not possible to measure the affect. (Jim Kilmetis, selling communications Inc, Future of Print,2004). notwithstanding in this kind of parcel would it be possible to for print publishers to make a solution to the problem, and the root is yes, off course they can have the opportunity of zero based assessment where they can understand to what extent their information structure is dependent on the pri nt and advertising and what strategies can be adopted to align them in current market place. non only this they also have a big advantage of engineering to use for the progress on integrated media and marketing. Today technology became so fast that publishers can be able to control all medias by using an integrated platform. (Jim Kilmetis, selling communications Inc, Future of Print, 2004).To achieve the success in the current date it is of live importance for the publishers to make a shift, change is now necessary expertise are required to tote up that change, it would be considered that what is demand of people how they want to acquire the information. Time is changed today, darkened models and theories are no longer very fruitful and now according to the changing environment many publishing companies have their websites to meet the competitive edge, as they are offering related services through these website but important point is to consider all this as an initiative. Intern et features must be used for the purpose of distribution and other stages of the tralatitious publications. (Jim Kilmetis, selling communications Inc, Future of Print, 2004).3.2 Other Concepts from Related WorkHere another perspective comes from Schibsted, a Norwegian news paper, this is said about it that if they would like to greet anyone visiting them, it is hand operated printing press which was actually bought by the founder of this group Christian Schibsted in 1856.This was initially established for only the purpose of printing, mean printing for others, but later on it started to make its own publishing, now the point which is to be noted that there is no doubt that the company did not compromise for presenting their machine as a proud for them, but even then this is also the fact of the matter that they are now trying to run a demeanor from the print. As they got a loss in having activities in the print publications, And like many others they also adopted the policy for be ing online and got 35 percent of the operating earnings after activating online activities. (The Economist, 2006)The news paper manufacture after the success news of Schibsteds started to join their foot steps, as industry was declining day by day, but this successful experiment of being online by Schibsteds changed the environment to a great extent. Schibsteds actually developed a web site for their established news paper industry and also many others like Sesam a search engine comparable with Google etc. provided if talking about the news paper industry particularly then the situation is very appal that even Schibsteds seemed like hopeless. (The Economist, 2006)Ron miller suggests that if we analyze and compare the situation in the context that in the past if we wanted to establish a decline up for the news publication or for the magazine production, that was clearly meant to have a good resources and wealth to do that, he mentioned that in the past news paper industry had b een relied very very much to make the news paper available for us, and they got a lot of benefit out of this. But today the situation is changed on the whole. ( miller, 2009)Miller further describes the situation in the way that today it became very easy for any kind of content publications to deliver it online. There is no need of big staff and large placed up like a factory process to achieve this, not only this it is very obvious that ad dollars is moved to internet now. And now this is happening in a very speedy process that now we get the news right after it occurred. So cod to these circumstances now the situation is happened to be like that newspaper industry failed very badly. Considering the 2009 statistics of FOLIO 279 magazines were closed, and only 77 became possible to launch,105 newspapers were closed in the start of 2009.This is not the shift only with the small business of newspaper industry, it happened with large companies as well, for instance New York Times is rapidly declining towards destruction and has come to the level that they now considering to sale their Manhattan headquarters. (Miller, 2009)Dan Haight described a particular subdivision of advertisement that advertisers became very smart today, as they dont hesitate to adopt any kind of medium to reach their bolt downr. He feels that this is very possible that advertisers will used to go at the door steps of their consumer and ask for the use in very near future. Further He described the situation about the future of print media that it has to focus on the advertising, Haight believes that in future off course print is going to play an important role, the only need is that print media should be able to carry the messages from the advertisers and at the same time advertisers would have to keep in mind that they advertise unexpressedly what consumers demand is and at the appropriate time when consumer really want to consume this. Because as technology becoming advance day by day, the consumers are getting more empowered so in this situation there are almost no chance for advertisers to make any faulting or error. (Haight, 2005)According to Gene gable end the defenders or the supporters of print media are always been arguing that print media due to its nature of giving the economic crisis of touch will not lose its position with other medias of digital world.Defenders of print media said that you can take the news paper with you into bathroom,but at the same time from other side very comprehensive answer comes that off course is true what is been argued by supporters but what about the new generation who is coming with the digital world. And after analyzing different surveys and statistics here gable end describes the situation about the current existence of ours, according to him the situation of print media decline is more sever among the kids and in the age group of 65, He further explains that may be they are very much used to for the internet, they buy a very few news paper today. (Gable, 2007)Gable also mentioned that predictions of Dire publications about the sever decline of news paper industry were quite true as many of the analysts showed that this situation can be even worst. In America the decline in the newspaper industry circulation was 2.8 percent daily and 3.4 percent on Sunday, if talking internationally the trend is also downward as in the biggest newspaper industry of China the revenue by ad decreased by 15 percent and also the ratio of newspaper readers decreased very much about 1.3 percent since 2003 and it was said by government that industry is entered an ice-age. The case with the developed and established industries is also not very much satisfactory, as in Germany the ratio of circulation declined by 9.35 percent, in France by 5.7 percent ,Italy 4.49 percent, Netherlands 11.13 percent, Denmark 11.5 percent and the united kingdom 12.5 percent. (Gable, 2007)In another article by Ron Miller suggested tha t with passage of time media companies are caught up with recent changes that are brought by internet. Ron believes that if old media companies do not update themselves with these changes of recent history, they will become late in the game as this is very obvious that these rapid changes and the internet enabled media knows better delivery channel than old media. According to Miller problem actually occurs when old media companies treat the new digital world as a different thing to them, they separate internet from their traditional media. But author believes that this is wrong mindset as according to him they can open new horizons of success if they work together. He made his case strong by giving two examples one of Greyson Chance who uploaded a song by playing a piano, other one is of Dave Carroll who also made a YouTube video of his song United Breaks Guitars. In both cases author describes that when were being picked up by the print publishers and TV, their views turned in mil lions, finally Miller concludes that if the old companies want to be on the direction of success then it is vital for them to understand the different ways for combining with digital delivery channels (Miller, 2010).3.3 SWOT AnalysisTo reshape a strategy for any company or to make a totally changed new one, it is very important to understand about the capabilities required to achieve the goal.SWOT psychoanalysis actually tells us about the health of a company and that where do it exist, this cannot be used to plan a new strategy or to give the solution for any existing deficiency in the organization. SWOT analysis is quite helpful in identification of problem area so it became easy for the people in precaution to take the decision accordingly. SWOT analysis consist of four parts to make an analysis of adopted strategy of any company, and to make this analysis successful and objective, this is required that company dont hesitate to be a critic of its own. And modification of suc h an analysis might lead the company to understand the areas where they are powerful and so they can emphasize on these areas to utilize the opportunities they can have. SWOT stand for strengths, weaknesses, opportunities, and threats. Two of them are the internal to the company, strengths and weaknesses is actually a measurement of where company does exist currently, whereas opportunities and threats are the external factor to company, after this stage of identifying and examining the both factors, then companies might be able to analyze them to make a balance between these factors.Strength of a company is very important to identify as it might be possible that company could not realize that what is they are good at, which is actually their strength, what are the key factors making company on the way of progress. Similarly the weakness is an area of the company where company is not performing well, it is important in this regard that some quantify misinterpretations of the things might lead a company toward a problem, misinterpretation means that something which was really important to the company but perceive as less important and could not be focused. But opportunities are some external factors happened in the environment that becomes favorable to your business, these factors extra ordinarily affect the business strengths, weaknesses, and threats and are helpful to improve the business. Threats are the external conditions that are not in favor of business of company, while doing business it is not very unusual that business face different threats, theses might occur at any time.Now by keeping all this into considerations Berlingske news paper is been analyzed to have an understanding of its current proceeding and capabilities, so talking about the strengths first it has been analyzed that since the Belingske news paper and media is the largest and oldest in Denmark so it has developed a strong customer base, as with the use of new technologies and strat egies now capable for reaching about 2.5 million Danes every week. News paper has developed a strong kind with their customers by fulfilling the demands of their customer. Berlingske has been considering the customer relationship mangment strategy to build the long term loyal relationship.Another strength of Berlingske is demand of its print publication from a specific segment of its customers,these are educated people and have the know how of business and also people from elite class,as their demand for the print publication in spite of all the revolution in technology and digital online media can not be decreased.so this demand for the print publication is increase as a strength of Berlingske news paper. also Berlingske has strong infrastructure, as it is already mentioned in the introduction of case study part that Berlingske management owns aroung 200 medias, and 11 dailies and similarly magazines and weekly newspaper, so it has proven that they have the right capabilities to manage all this, and due to best practice of CRM strategy implementation they have the strength of direct interaction with their customers and changing the policies accordingly. Berlingske news paper is today after a long struggle is recognise in all over Denmark and now Berlingske is name of brand. And recognition of the brand is a very powerful strength for any company, because some times for the purpose of making balance in some hard times, brand name can be used to adopt a different strategy to generate revenue by new ways.Weaknesses for Berlingske print publication is mainly like many other print publications that with changing environment of the digital world,print is seemed to be as outdated technology, along with this in the long journey of Berlingske, it has been under many different leaderships, and as every new management would have its own goals and priorities.So talking about the opportunities of Berlingske it is vital to mention that with the revolution in the online technology and digital media there are many positive outcomes for Berlingske print publication, first of all now with patterned advance in the technology it became easy and also very cheap for direct marketing with the customers, as it has been mentioned in case study part that berlingke group has developed more than 60 web sites,so to get a subscription for any willing customer it became very easy to do that just with sink in of mouse. So due to this more and more customers are being attracted. Also because of the advancement in technology and the use of computer has made Berlingske to produce their contents with a less investment or in other words cost is decreased to produce and deliver the content to the end user, and because of technology enabled factors bugdt with out any doubt is increased, that is a necessary fraction to maintain the competitive advantage for Berlingske.Regarding the threat one thing which I feel is necessary to mention that there was an opinion from one anayist that income which print publications have some times beomes equal to the cost for collecting news and other contents and then circulating and publishing them to the customers. So the actual revenue generator for print publications is advertisement dollar. So in the case of Berlingske this is also a threat that as advertisers now in this date increasingly prefer the online medium, so day by day this segment of decreasing advertisement is a biggest threat For Berlingske.4 Research methodologyMy project is a research based project. So I have to use some research approaches and methods or techniques to carry out this project. For this purpose I studied some books related to this topic. From these books I got the guidelines about how a research is conducted. First I would like to explain what is a research? Research is a systematic way to investigate the solutions of the problems. Research is not a single step but it is a brainstorming. It involves multiple steps that the resea rchers have to follow to conduct their research. I have also be after to follow the same research process to respond the research questions effectively. through and through this process I was able to collect the information and then performed analysis based on that information. To get better understanding, research process is shown in the following figure.After exploring different research methodologies and techniques, I have made plan to use qualitative approach in my research project. This approach is suitable in a short period of time. This helped me to gather the data and find out the solution of the given research question. Under this approach I used different techniques to investigate the solution.4.1 Literature roundIn this research project first I have planned to review the related books in order to enhance my understanding on this area. I have planned to make literature review as the base of my research work. I studied and reviewed different articles, unpublished docum ents, journals and papers, books of different authors on the topic Print media and electronic media. Literature is the best peckerwood particularly in my area of research to get the optimum data within short period of time. It is an effective and cheap source for data gathering. Literature survey may provide a strong intromission for further research (Blaxter, Loraine, Hughes Christina, and Tight Malcolm, How to Research).Literature refers to all available research on this subject and Literature Search refers to the process of finding the corporeal and a literature survey simply describes the literature which exists (Blaxter, Loraine, Hughes Christina, and Tight Malcolm, How to Research).This technique produces reliable and consistent data which can be analyzed and extrapolate with more assurance. Thus the data achieved is easy to manage and further field of battle work is not involved (Verma Gajendra V, Mallick, K, and Neasham , Perspectives and Techniques, 1998).I have carrie d out a comprehensive literature review to explore what has already been done in this area, what are the strategies that push a business towards upside. Based on the literature I have tried to produce a quality of data (Blaxter, Loraine, Hughes Christina, and Tight Malcolm, How to Research).4.2 In testicle discussionInformal discussion has been carried out for this research study. Informal discussion means no preplanned schedule and no formal layout. It can occur at any time at any stage. I conducted informal discussion with the colleagues that are doing business study or have some sort of business experience. From informal discussion I got many new ideas and new directions for this research work.4.3 Conduct purviewSurvey is an excellent and cheapest way to retrieve the data from the users. I have also planned to conduct the survey in my research work. This technique is confirmatory to further evaluate the results. For this purpose a questionnaire has been prepared under the light of data that I have retrieved from literature and informal discussion. Questionnaire is purported in a careful manner so that it is easy for the users to answer them. Questions are clear and close ended. There is no redundancy among the questions (Preece, J., Rogers, Y., and Sharp, H., Interaction design Beyond human-computer interaction, 2002).Target users of the survey are those who are doing business study or having business experience and background.4.4 Case study-Berlingske newspaperCase study is a qualitative approach in which we further narrow down our research. Similarly I have planned to conduct the case study in my project. Initially I have explored such business strategies due to which print media can survive in the presence of electronic media. But further I have investigated business strategies that particularly supportive for Berlingske newspaper. Because, I have chosen Berlingske newspaper as a case study in my research work.5 Data CollectionAfter crepuscule of pri nt media there is a great pressure on newspaper and magazines companies. They are losing their business and their revenue is coming down. Marketers have changed their trend and they shake off on to the digital media. They have built their own sites. To survive in digital environment print media needs to switch online and they charge for contents online as they are charging previously. But this is not successful effort as readers pay for only those contents which they cannot fine anywhere or which is hard to replicable. For its survival print media needs to adopt the following strategies. They have to focus on different ways and business techniques to enhance its revenue.5.1 Build Deeper Relationships atomic number 82 marketers have strongly realized the power of digital media. They are expanding the boundaries of digital innovation and spending much more on own web sites, mobile applications, interactive kiosks in order to deliver more targeted contents to the consumers. The