Marketing Strategy Of Newspaper Education Essay

Marketing Strategy Of News sweetsprint Education EssayMarketing environs of today is not only competitive but equally volatile. Therefore the organizations have to put in all(prenominal)thing into it not only to survive but to supercharge competitive edge. The advent of globalization has placed perpetuallyy premium on organization to shift their tenseness from competitive advantage to sustainable competitive advantage. It and so becomes important for organization to devise schema on how to survive.Strategy is a long term purpose of action designed to achieve a fact object such as competitive advantage. It reflects the quantifys, expectation, and goal of the organization. To achieve commercialiseing objective of profitable satisfaction customers need, for an organization in high- suppuration moderately competitive foodstuff along with economic growth, a well-developed marketing scheme is required. Such trunk considers portfolio of product and takes into account the a nticipated moves of competitors in the market. Marketing strategyMarketing strategy is bring of organization to concentrate it limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage with the ultimate goal of customer satisfaction. It is a method of focusing an organizations energies and resources on a family of action which leads to increase sales and target market.Marketing strategy is a colossal term which combines product development, promotion, distribution, pricing relation dominance.Marketing strategy is a written plan which combines product development, promotion, distribution and pricing approach that go forth be achieved within a stated time frame. It determines the alternative of the target market segment, positioning, marketing mix and allocation of resources.Marketing strategy is a process of selecting and analyzing a target market and creating as well as maintaining an appropriate marketing mix that allow satisfy the target market. It is a long term plan to achieve certain objective. A marketing strategy is therefore a marketing plan to achieve marketing objective. It is detailight-emitting diode planning involving marketing explore and then exploitation marketing mix to delight the customers. Developing strategy involves establishing clear aim objectives rough which the framework for policy is created. Having established its strategy, an organization finish then work step up its day-to-day tools and tactics to meet the objectives.Marketing thus can be seen as the process of developing implementing a strategy to plan co-ordinate ways of identifying, anticipating satisfying customers demand in such a way as to make profit. It is the strategic planning process that lies at the heart of marketing. It patrons in integrating an organizations marketing goals, policies and action plan into a cohesive whole. THE TIMES parole radicalPositionThe Times is a Uks leading news paper co vering national news. For much of its history it has been regarded as Britains report of the record is preserved in the British library. The Times began publication in 1785. At that time it was called as Daily universal Registered. Published in broadsheet for over 200 yrs, the ejecter switched to the tabloid format in 2004 in an swither to better serve the younger shewer and to appeal to commuter using public transummercater.This composition is owed by News Corporation originally an Australian accompany reincorporated in the US in 2004 and moved its headquarters from Adelaide to New York city.The Time is the original propagation publisher, leading its name to galore(postnominal) theme around the world, which involve The Newyork Times, The Times Of India, The Times Of Malta, The Irish Times. The newspaper covers the price in UK is 90ps on weekday and 1.50p on Saturday 2pounds on sunlight which termed as The sunshine Times.History of the news paperThe Times was founde d by behind Walter on 1stJanuary 1785 as The Daily universal Registered, with Walter in the role of editor. Walter change the title after 940neditions on 1stjanuary 1788 to The Times. In 1803 John Walter handed over the featureership and editorship to his son of the same name John Walter sr. since then the ownership and editorship passed on to many. The Astor family sold The Times to the Canadian media entrepreneur Roy Thomson in 1966. Thomson merged The Times with Sunday time to Times newspaper limited, a subsidiary of news international. News International is entirely owned by the News Corporation group, headed by Rupert Mrdochon 3rdmay, 1966, The Times began printing news stories on the front page on the paper. The front page had previously been utilize to advertisement and paid announcement, which had contributed significantly towards the cost of producing the newspaper.The times were closed down from 1stdecember 1978 to 12thNovember, 1979, due to industrial dispute between the Thomson Corporation and print Unions. No times newspaper was printed during this period.Since then the newspaper is printed from Monday to Saturday in fight tabloid formats as of December 2008, it has an average workaday circulation of 6,00,962 copies. Long considered the UK newspaper of the record, The Times generally seen as a serious publication with high standard of journalism. The British Business Survey 2005 named The Times as the UKs leading daily newspaper for condescension newspaper. immensity of strategy in marketing newspaper. paper is unique business and in that opposition is the minute-by-minute battle. News is something you dont already k immediately. With net able to supply the information closely instantly, newspaper has little choice but to put eitherthing they publish everyday up on the internet in the hope to keeping people on their site and returning to their site the next day.Strategies for marketing the newspaper have evolved over the years as the con cept of cost per unit of circulation, with its inherent internalisation of cost per order and retention, has taken hold. More recently, acceptance of tiered subscription pricing strategies and the valuation of subscribers based upon advertising revenue have added another level of complexity and opportunity.The Times as a newspaper has select various marketing strategies to be in satisfyion and to satisfy its reader and also to attract the new reads.Some of the various strategies adopted by The Times.The marketing strategy of the Time as leader in the market was significant in the year 2003 led the times to revolutionize the newspaper exertion by lunching the compact version of paper. The strategy of redesigning the paper from broadsheet to compact version was born out of the recognisation that with long working hours, lengthy commuting habit many media source there was a need for quality news in a favorable size.Initially the compact version of paper was launch in London wit h TV postal campaign targeting the busy professionals on move. The campaign idea was root in consumers truth, the commuter experience of trying to read broadsheet on train in rush hours. The campaign stressed the benefit of the new compact by illustrating how inconvenient the broadsheet can be.The Time was the forefront of the compact version movement and this vision was rewarded by a significant growth in circulation readership. The Times has enjoyed a substantial circulation increase since the launch, with sales growth in an otherwise declining market.All communication was united by the campaign endline,Its not enormous but it is clever.The Times adopted the strategy of introducing new innovative ideas for increasing its readership. The Times was the first to launch sport handbook, now produces eight each year covering football, rugby, formula mavin,golf,tennis athletic .The main aim of this move was to attract people with high interest in sports (sport fans).Over last 2years The Times commitment to sport has developed significantly with an all star line-up writer from across the sporting spectram.Times also sponsor various activity which includes Sky Business news and The Times bfi London Film Festival for which the newspaper is the lead sponsor. The Times also has a strong portfolio of dedicated sections throughout the week. Screen on Thursdays, a stand-alone film section, which carries the latest film reviews, industry news and gossip. On Friday, Bricks and Mortar presents the latest facts, figures and fantasies from the world of property. Also new in 2003 was the relaunched Saturday Times which include four new sections. The Knowledge, a weekly insiders guide to life in London, The Eye, a guide to whats on the big and small screens, Weekend Review, the intelligent read for high and low brow culture, and Body Soul, a supplement dedicated to health and well-being. Body Soul is the only section of its kind in the UK newspaper market.Promotion strateg y of TheTimesThe Times promotional strategy is to work closely with branding activity to reinforce the values of the product. As the brand campaign continues to focus on re-appraisal through key editorial atomic number 18as such as sport, entertainment and health and well-being so too will the promotions. The Times promotional activity has traditionally been communicated through combination of TV and Radio advertisement which ensure targeting specific audience. A second element to The Times promotional strategy is developing and fostering alliance with appropriate partners. For promoting their newspaper The Times for the first time in 17 years replaces its current tagline for The Sunday times as Sunday paper will launch to coincide with papers full color redesign. It will be supported by 3million TV, press outdoor ad campaign.This is in the main done to focus on the diversity of Newspapers audience. According to director of the paper, this marketing strategy will help the newspa per to build customer loyalty sooner than encourage one-off sales.According to companys marketing sales director vanneck, the main basing marketing for Sunday times on the reason that people will buy it week-in week-out .they will sail the newspaper on the brand, content, the sub-brand.This will help the paper to build the brand loyalty.Pricing strategy In the era when free newspaper ar booming, paid -for newspaper be reconsidering their pricing strategy. Pricing is a key strategic tool in the battle for increased circulation. Different strategies are adopted by the newspapers to increase readerships loyalty and profitability. Over the period of years the times followed the various pricing strategy to compete with its rivals such as the guardian, the indie, the telegraph and many to a greater extent. In early 90s the times as a market leader in the industry followed a predatory strategy. It reduced its price, the managers were of the opinion that this will help in increasing de mand elasticity over a period of time and it would eventually rise sufficiently to componsatefor the price cut. This price cut strategy helped the times it increase its market share among other newspapers. In June 1994 the telegraph reacted to the growing share of market for the times by cutting its price and the independent followed. The Times soon responded to this by cutting its price go on, although price settled down at slightly higher level soon after. By July 1998, the times price was 35p while that of Guardian ,the telegraph and the independent were 45p.THE TIMES sales was almost double than that of its competitors. This relative position stayed much or less unchanged for next five years. By 2002 there was slight spill in overall market for UK broadsheet. The sales of the times were running just over 7, 00,000daily. The decline in the newspaper ,market was mainly beca affair of growth of internet and 24 hours TV news channels. The nature of competition changed, as a resu lt the price competition took back seat and the times, ascensiond its price to 60p in 2005. Along with this it introduced a new format for their paper, this increased the sale to about 6, 60,000 per day. In 2007 the time further increased its price by 5p and was priced at 65p without having any effect to its daily sales figure. The aggressive pricing strategy adopted by the times has a long lasting effect on sale pattern of UKs newspaper industry. Distribution channels Newspaper have a unique characteristics in that they are delivered to approximately 54,000 retail outlet worldwide every day, the content changes substantially from day-to-day and the demand for them will expire by lunch time on the day of the sale. Although some other product s might share one or two of these characteristics their combination in newspaper means that the process of getting this product from supplier to consumer is substantially different from other in the industry. As a result newspaper have a distri bution system that is dedicated to that one product. Unlike supply channel for many product, which are retails impelled, the supply chain for newspaper is publishers led. Publishers appear a strong degree of settle overpricingvolumenature of services Newspaper publisher print their newspaper by using print centers which are owned by the publisher directly or other provide printing services to publisher on agency basis. This newspaper prints are than supplied to wholesalers from there to retailers and finally to the consumers. In addition to delivery by wholesalers, some newspaper are supplied directly to consumer through subscription. The Times to reach to its customers directly, comes up with various subscription issues such as UK paper subscription, US paper subscription, E-paper subscription, overseas subscription, Times Archives etc. It also offer various discounts and offer on various subscription. Sometimes it gives gift vouchers along with subscription to attract the reader s. not only this the times also offers complimentary membership to culture+, an art and entertainment program exclusive to subscriber of times and Sunday times. Some of the highs of this subscription includesfree admission to hundred of galleries, museums and historical housespriority booking for the most of the talked about plays and showsexclusive offers from sky etc It also offers various discounts to students for their subscription.SWOT psychoanalysis OF THE TIMESSWOT stands for strength, weakness, opportunity, and threats, and it is one of the important tool to highlight the business present situation and where it could be in future. It is a strategic planning which tell the main objective of business and identifies the external and internal factors that are favorable and unfavorable for achieving the goal and objective of particular business. It mainly focuses on Strength attributes of business those are helpful in achieving the objectives.Weakness attributes of business tho se are stabbing in achieving the objectives.Opportunities external conditions those are helpful in achieving the objectives.Threats external conditions those are harmful in achieving the objectives.Strength strength of the business are positive element. It gives business edge over the competitor. The main strength of the times as newspaper areBeing a market leader, it has a key to their success as it boosts reputation in the market.Its marketing strategy has proved to be effective.The Times has an extensive customer base which is major strength regarding sales and profits.The Times has competitively high percentage of market share among other newspapers.Weakness weakness of a business is something which is needed to be improved as it may have oppose impact on the business.Reputation is important for the times as market leader. So it is important for it to come up with new product and services from time-to-time to be in the competition.Charging for their content on internet may hav e negative effect on their business. Opportunity These are external factors, changes, trends, or needs that could help the business to evolve and grow. For the time there are ample of opportunities useable such asCapturing new market by offering new product such as overseas subscription, sports handbook etc can help the times to increase its readership.It can expand its online presence by improving and providing wide range of services through their websites.Forming strategic alliance could help the times to raise its circulation and increase its readership.Expanding product line can also help the time to capture major market share among its competitors.Threats These are external factors which may restrict, damage, or put the business at risk. These are factors which are outside companys control and may prove harmful for growth. The possible threats that can affect the times newspaper arePrice war between the competitors may unsteady the pricing strategy of the timesRaising operation costs could be the major twilight for the times as it affects the overall profits of the business.Many free journal available can affect the readership of the paper at largeE-business strategy of newspaper industryOnce the strong print business sector, newspapers are now struggling with declining circulation, shrinking classified advertisement and proliferation of competition. But despite of significant challenges, the industry also finds itself at a crossroad that presents significant opportunity for this business to evolve and grow.In past few years a number of interest trends emerged, one of the most significant being digital media publishing and online monetization. Internet effect on newspaper is uninterested, how to accommodate the digital age watchs one of the industrys key dilemmas. Now the industry is changing the marketing strategy and the emergences of digital media from wireless device to e-reader to social network, almost all newspaper have their own website. Both TV internet bring news to consumer faster n in more visual style than newspaper. This competing medium also offers opportunity to use moving image and sounds. This print business sector recognizes the opportunity of loss global and continues to invest in growth by taking the advantage of digital media. News is something you dont already know but with net able to supply this information almost instantly, newspapers have little choice but to put everything they publish everyday up on internet in the hope of keeping people on their site and returning to their site next day. Popularity of newspaper website depends up on the content of the site. Normally the content of the website is splinted in to six areas which includes The news storiesAfter week though- this are archive storiesColumnists opinion piecesE-mail services grown people a concise rundown of stories that are likely to interest them direct to their inboxesDigital facsimile of printed NewspaperFinally there are add-ons cro sswords, competition games the likes.E-business strategies of the times The times group has used a variety of online strategies to increase their online readers.In September 2008 they commissioned to build a James Bond themed Microsoft empower Be a bond baddieThe main aim of the move was to promote Times online coverage of James Bond on their websitegive added value to PR of the timeraise awareness for Times online readershipgenerate large amount of traffic repeats visitors.Times online were thrilled with the result interim of traffic expenditure application.Not only this Times online entered into editorial initiative aimed at improving spellings for school Childers around UK. This program was launched as their educational initiative with the aim of attracting ally group. The main objective behind this program was to uplift the Times circulation, to contribute to establishing The Times as a market leader in education.the result was successful as number of registration exceed ed expectation site continues to experience the high volume of traffic with over 50,000nviews since launch.Times Online, the website of the Times Sunday times has launched a global internet edition.Most overseas visitors to the website are directed to new paper as a default view which rebalanced away from domestic content will feature more foreign news comments. UK readers are able to switch back forth between the two editions.According to times editor, Robert Thomson, going global was an important movement in the long distinguished history of paperIts primary aim is to give a traditionally less insular front page (peter Bale, online editor of times)This strategy of going global was adopted with the intension of capturing the worlds market developing a reader loyalty.With growing competition the newspaper is coming up with different strategy to capture major market share by increasing its readership.The Times is launching an internet television services. It now has a news age ncy style video feed which is a starting point for broader introduction of video service. It will help in generating more content will help in becoming village seqarefor videos. It will also invite reader to send their video to the news site will add future texture by providing link on the site. This will help the reader to get more reliable information on video. Not only is this to attract the reader The Times planning to launch separate website for its Sunday edition The Sunday Times. This website will be available to reader by the end of this November.Newspaper industry very well incorporated the technological changes in their business. Having website has helped in increasing its readership significantly. But the cost of having such website is quite high. The seek has always been how to make money by charging for content while also keeping as many as people returning to the site. And also course there is ever present back of the mind fear that the diverse online content will stop people buying newspaper.To cope with this situation, The Times, in cost of overall UK market introduced a crossword archive subscription services in 2008.Not only this they started charging for their online content.The general manager of Times paper Paul Hayes verbalize the free ride is over day of free content have gone.The Times was first to charge for their content on net. According to The Times manager, every aspect of site need to support itself with its own revenue stream that is why they stared charging for its archives, for digital version of paper its law report.Despite of charging The Times has around 2million unique users.The main aim of the Times is to be the best newspaper in the world. The goal is to deliver accurate, intelligent engaging information to an ever large, ever more discerning audiances.The role of The Times as newspaper has evolved due to changes in information provision. Proliferation of satellite, TV channels, radio stations, the internet has helped the times to satisfy every need of its readers.Future of newspaper in 21st centuryThe future of newspaper has been widely debated as the industry has faced down soaring newsprint price, slumping ad sales, loss of much classified ads, drop in circulation. In recent years number of newspaper has slated for closure, bankruptcy or serves cutbacks. Revenue has out of use(p) while competition from internet media has squeezed print publication.The debate has been more urgent, as a Deeping recession has shaved profits as once expensive growth in newspaper web revenue has leveled off forestalling what the industry hoped would become important source of revenue. The issue is whether the newspaper industry is being summate by cyclical trough, or whether new technology has reduced obsolete newspaper in their traditional formats. Facing these challenges, newspaper are considering combining to survive.Newspaper industry has always been cyclical the industry has weathered previous tr oughs.But with television arrival explosion of internet the first decade of 21stcentury increased the panoply of media choice available to reader while further cutting into newspapers begancy as source if news. Both TV internet bring news to the consumer faster in a more visual style than newspapers. This competing medium also offers opportunity to use moving image sound. Technological revolution has meant that reader accustomed to waiting for daily newspaper can now receive up-to-the -minute update from web portals. This new revenue stream, newspapers website, often takes away fraction of sum generated by the previous ads circulation driven revenue stream so newspaper have been forced to curtail their overhead while simultaneously trying to entice news users. Expanding reach of broadband internet access, many newspapers have faced several problems such as falling ad revenue plugging circulation.Ultimately the newspaper of future may conceptualize little resemblance to news print edition familiar to older reader. It may become a by bird, part print part internet or perhaps eventually go fully digital. However the transition from print page to whatever comes next will likely be fought with challenges, both for newspaper and for its customers.The paper in newspaper may go away but the news will still remain.The paper is dynamic, but its just a device. substitution it with pixel is better experience.(according to bill Keller, executive editor of Newyork times)Many more changes may happen in the worlds fast growing Newspapers market. The world is becoming more digital but the technology has helped newspapers as much as the internet. Making technological changes work for them or instead of them, will decide whether newspaper remain vital or road kill on the information superhighway.Newspaper had justified their existence with energy, creativity integrity. Thus, as of now it can be cogitate that newspaper has remained open has welcomed technological cha nges. It has changed in every scene be it appearance, or marketing or using web according to time advent of technology to serve its objective of providing information keeping in mind the interest of customers.