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Marketing a Publication - Brief Summary of main information

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Introduction

Answers with notes: Lecture 3 - Marketing a Publication - Brief Summary of main information 1. Introduction In marketing, market should be seriously studied in order to set up a short-term or/and a long-term marketing plan with suitable marketing and promotional strategies. 2. Markets Demographics - study of statistics which relate to the structure of population. In marketing used to develop systems of classification for marketing purposes - most prominent age, gender, occupation, income, social class, attitudes/personalities, or family size, location, race, education and other statistics. (see Grant p. 11/12 and Baverstock p. 47 for some examples of classification). London Institute Marketing Target Audience e.g. 1. Life Stages Stage Requirements Single with parents Few financial burdens. Fashion and gimmick products Single in rented or own home Some basic household items. Car, fashion, clubs leisure convenience, take-away food. Home entertainment. Have liquid assets if in a well paid job. Living together or young Dual income, good disposable income for fashion married couple without children and personal services. ...read more.

Middle

Proportion of population, geographical distribution, age distribution, regional variations - housing prices in London cut back spending power of some groups. - Consumption patterns - boom in housing boom in interiors magazines, increase in home ownership, aesthetics/lifestyle trends. Britain country of couch potatoes, cocooning has largest home video sales of other European countries. - Purchasing power. - What - what is currently bought - magazines, books, newspapers, important in terms of competition but also for thinking about promotion of your publication Market Share potential - for example if launching a London guide would have to compare Time Out and other magazines and their market share - How, when and where - newspapers, time of day, seasonal, shopping hours. How often light users, heavy users, where - local shops, supermarket, subscriptions. For example 40.5% of books sold via bookshops such as Borders, 70% of children and adults read at least once a week. 80% of adults in the UK read a consumer magazine. ...read more.

Conclusion

t-shirts, mugs, direct mailings/emails, film/video, Public relations includes sponsorship, exhibitions, conferences, seminars -see Baverstock 5. Uses of Promotion Promotion often thought about as linked to a launch however promotion can have a number of roles: - To increase consumer awareness - To increase penetration of new or existing products - such as product sampling for example giving away Elle Decoration free with Elle, money off coupons to promote repeat buys, refund offers e.g. as good as Stephen King or your money back offer on Gaiman's American Gods, reduced price offers Tesco's top reads... - To improve repeat purchase - competitions running over issues, - To increase consumer loyalty - personality promotions, in-store promotions i.e. dumpbins, websites as a service, building trust. - To increase purchase frequency or amount bought - competitions, free offers such as covermounts - To move high stocks out of stores - three for two in Waterstones' - To attract consumers to premises - signings, readings - To increase distribution - special promotions, trade competitions i.e. reviews and free books or wine or holidays Magazines often cross-promote - see case studies at www.ppa.co. ...read more.

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